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Patience And Persistence


patience and perseverence

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The 10,000 Hour Rule


wealthymattersRemember the 10,000-hour rule. That’s roughly how much work and practice it takes to become accomplished in any field, whether it be sporting, creative or professional. 10,000 hours is 5 years of full time hard work. To become a virtuoso, triple that.

How To Achieve Your Dreams


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Think as a farmer does to realise your dreams: act, wait, harvest.

Here is some excellent advice from Alex:

Dreams are seeds waiting to be planted in the field of life.Think as a farmer does to realise your dreams: act, wait, harvest.

Take action to achieve the dream.

Sow nothing get nothing.  Do nothing get nothing.  A farmer won’t grow a harvest if they plant no seed.  Your dream has to be seeded by taking action.

Be patient.

There is no such thing as instant grow seeds.  Seeds sown in spring wont be ready to harvest until many months later in late summer.  Once the seeds are sown nature takes its own course, patience is required.

Seize the opportunity.

You have put in the work, you have waited patiently and now you harvest the results.  Once the crop is ready it has to be harvested, waiting too long the harvest is lost. Regret follows those that despite initial good effort failed to seize the opportunity to make their dream a reality at the harvest time.

 

Patience And Wealth


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Walter Mischel’s marshmallow test is one of the best-known studies in the history of psychology. In the 1960s, Mischel, then a professor at Stanford, took nursery-school students, put them in a room one-by-one, and gave them a treat (they could choose a cookie, a pretzel stick, or a marshmallow) and the following deal: They could eat the treat right away, or wait 15 minutes until the experimenter returned. If they waited, they would get an extra treat. Tracking the kids over time, Mischel found that the ability to hold out in this seemingly trivial exercise had real and profound consequences. As they matured and became adults, the kids who had shown the ability to wait got better grades, were healthier, enjoyed greater professional success, and proved better at staying in relationships—even decades after they took the test. They were, in short, better at life. Read more of this post

The Importance Of Doing Sales


wealthymatters.com‘Vyaapari woh, Jo Bechta bhala’ = A businessperson is one who sells well.

Selling is something a lot of people fear.There is fear of failure,fear of rejection,fear of not having an answer,fear of meeting new people,fear of being judged,fear of offending friends and family,fear of strained relationships etc.etc.However every business is supported by sales.No sales equals no business.And if you would be an entrepreneur you need to be the best salesperson,not just to clock revenue but to speak to bankers,potential hires,suppliers etc.And the only way to get over the fears of selling is to launch yourself into it.You will improve as you muddle through it.Remember “Courage is not the lack of fear. It is acting in spite of it.” Read more of this post

Chinese Proverbs For Entrepreneurs


wealthymatters.com1. “In every crisis, there is opportunity.”

Most entrepreneurial ventures arise from a solving a problem. If you are faced with a problem, craft a solution and sell that solution to others.

2. “Sow a thought, reap an action; sow an action, reap a habit; sow a habit, reap a character; sow a character, reap a destiny.”

Entrepreneurship starts with an idea and ends with a destiny. You craft your destiny with your actions, habits and character. You make your destiny, it doesn’t make you.

3. “The best time to plant a tree was 20 years ago. The second best time is now.”

Aside from 20 years ago, there is no better time to start a business than today.

4. “If you want one year of prosperity, grow grain. If you want ten years of prosperity, grow trees. If you want one hundred years of prosperity, grow people.”

The goal of every entrepreneur should be to start a business and find capable people to run the business so that they don’t have to. Read more of this post

Bernard Arnault On Patience


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Wait or DO?


The Farmer And The Calf – An Investment Story


wealthymatters.comHello People ! I’m sorry I was gone for so long.I was having a pretty stressful time and blogging just wasn’t an option.

Today’s post is a nice allegory I found here: http://value-picks.blogspot.com/2011/11/farmer-and-calf-investment-story.html

‘This story is about a farmer who received a calf from a rich man. Hopeful that the calf will be able to help him have a better life, the farmer did his best to take care of it. But as the calf grew, so did the farmer’s expenses.One day, he said to himself, “I don’t want to wait anymore for this calf to become an ox. I’ll just sell it and buy several sheep which are easier and much cheaper to take care of.”And so he did just that.After several months, he realized that breeding sheep were not as easy as he thought. And so he said to himself, “It takes too long for these sheep to give birth. I better just sell them and buy myself several hens which can lay eggs for me everyday.”And so he did just that.The plan worked very well, he was earning good from selling all the eggs. Life improved for the farmer. But after several months, the hens started to lay less and less eggs until one day, the hens couldn’t produce anymore.The farmer was devastated. In his anger, he cooked all the hens and had himself a feast.Later that week, he remembered the single calf that started it all and realized that after all his hard work, nothing had changed in his life.”

A good warning for those of us who won’t take the pains to sit down and work out our goals and think through what we need by way of time,effort ,money etc for achieving them. Read more of this post

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