My name is Brian Yen and I’m glad to be this week’s guest blogger. I’m a real estate investor, entrepreneur and investment coach. I’d been given pretty much carte blanche for this introductory blog and there’s so much I want to share with you that I almost didn’t know where to begin. It took a long time to gather my thoughts and I am grateful for the preceding guest bloggers, Julian and Brenden, for the inspiration of their stories have helped me crystalize what I wanted to start with. For those of you looking for specific real estate insights, we can do that in a future blog. This is much, much more important for your lifetime success.
Regardless of the asset class you select to seek your fortune in life: real estate, business (including network marketing), paper assets (stocks, bonds, forex, etc), or commodities (coal, precious metals, lumber, foodstuff, etc), the same investor MINDSET is required to not only make the wealth you need for the lifestyle of your dreams, it’s absolutely necessary to keep it no matter what the economy does.
I started the same as everyone else.
I went to school, got the best grades I could, got the best job I could and tried to get promoted. It wasn’t long before I realized that it wasn’t working and started looking for something better, a better way. If you’re reading this, you probably are too.
So I’m going to share with you the biggest secret to financial success:
Not memorizing facts or catchy phrases. Really knowing what they mean on a deeply personal level to the point they change the way you see and solve the financial challenges in your life.
They say a true investor knows how to make money when the market is going up, going down, or just going sideways. Easy to say, but how to do so is really difficult to define. So many things are fluid and nothing like the examples we’re presented with in the learning phase. Follow my logic for a moment….
To be able to make money regardless of which way the market is going, you have to have different investment strategies for different market conditions. In order for YOU, my dear reader, to accomplish such mastery requires a great deal of education. To gain such knowledge, you’re going to need to study a great many things which takes time and effort. Scary and daunting as that may sound, there is wonderful news.
Knowledge is cumulative so just take it one step at a time.
My mentor always called it “taking massive action” which I’ve always found a bit scary. Most of us like our lives already. Taking action that’s described as “massive” gives us a sense of losing what we like about ourselves and the lives we live now.
Truth is, regardless of his choice of words, he’s right.
If we expect our financial situation to change, we have to change the patterns of thinking that not only got us here, but keeps us here. Remember, it is human nature that a person is incapable of taking massive action if it contradicts their core value system.
So if you’re not seeing financial results, it is not the system or the company or the coach. It’s your mindset that you need help with.
Robert Kiyosaki loves saying that investing is a team sport. Trying to go it alone is like trying to play 1 on 5 in an NBA game. So don’t go it alone, talk to peers and mentors, and most of all: ask for help.
One of my favorite quotes is by spiritual teacher, author and lecturer, Marianne Williamson.
“Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that most frightens us. We ask ourselves, ‘Who am I to be brilliant, gorgeous, talented, fabulous?’ Actually, who are you not to be? You are a child of God. Your playing small does not serve the world. There is nothing enlightened about shrinking so that other people won’t feel insecure around you. We are all meant to shine, as children do. We were born to make manifest the glory of God that is within us. It’s not just in some of us; it’s in everyone. And as we let our own light shine, we unconsciously give other people permission to do the same. As we are liberated from our own fear, our presence automatically liberates others.”
― Marianne Williamson
For me, this is the inspiration to listen to the voice inside that believes I can and should be financially free. This is the truth that we are obligated by our existence to explore our full potential. There is nothing noble about thinking small or diminishing who you could be. This is the beginning of your new MINDSET.
When you are taking your massive action, you are not pretending to be some phony social climber or wannabe. You are turning your potential into reality. You are taking the best parts of yourself from your life up to this point and carrying them forward with you.
To do that, we’re going to jumpstart the change in your mindset. There are so many things to learn, but I’m going to give you 3 of the most important nuggets.
First, start with an abundance mentality.
One of the biggest things I see in real estate is when people fight so hard to acquire a particular piece of property that they either get discouraged if they don’t get it or end up overpaying for it if they do. Neither leads to positive outcomes when it comes to building your wealth. The same goes for stocks, business or commodities. Dolf de Roos, a fantastic real estate investor and coach, is fond of saying, “the deal of the decade comes around about once a week.”
The opportunities are out there but it’s up to you to keep looking for them. Even the deals you don’t win, you can learn from the experience which increases your chances of winning next time.
Secondly, a good thing to keep in mind is that investors buy based on value. Consumers buy based on price.
For example, pretend there’s a machine where every time you put in a hundred dollars, it spits out an iPod Touch worth two hundred. If it were me, I’d do that deal all day long and resell my purchases to make a fortune. But what if the initial investment was $100,000.00 and the payout was $200,000.00? You’d still do that deal, right?
But nothing in life is that certain.
What if there was an element of risk? What if you put in the money, but then had to solve an unknown number of puzzles within an unknown time limit in order for the payout to happen? Would that be enough to scare you off? That is the reality of investing and that is why being educated is so important. The more knowledge you have, the more solutions you know, thus the more puzzles don’t scare you.
Third, be honest with yourself about your accountability.
So many times, I’ve had students and clients come to me and say, “Just tell me what to do and I’ll do it.” From experience, coaches like myself know that this is said with very good intentions but it’s not entirely true.
Think about it.
How many people know they should eat healthy and exercise? But, do they do it? If they did, we wouldn’t have the obesity and health issues we have today. Conversely, how many people know they shouldn’t drink and drive, yet they do with some pretty horrendous results, right? There is no shortage of information and coaching for whatever it is you want to accomplish in your life. Getting yourself to do what you’re supposed to do when you’re supposed to do it; THAT is where the magic is.
Remember, every broke person has all of their 24 hours a day already used.
The #1 struggle for people starting to turn their lives around, financial or otherwise, is making the time to do it. So many people start strong but fail to keep going or follow through. For all those people who say that life gets in the way, that only happens if you’re not sure of what you’re doing. Clarity and certainty of purpose are the only things that will keep you on the right track to financial freedom.
It all starts with your mindset.
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