Congratulations on getting to the final step in The Ten Steps to Wealth! I do sincerely hope that you have enjoyed reading all the steps and coming along with me on this short journey. It doesn’t stop here – but more about that later.
In the previous blog I spoke about the impact of compounding, and by spending maybe half to ¾ hour every week for the last 10 weeks you would have compounded your learning about how to take steps forward towards your goals – be they wealth, health, career prospects, connected relationships or whatever it is you have a desire to reach for. I enjoy reading these steps over and over and always get something new out of them each time. They can be a quick reminder or prod to keep moving forward, not matter how small a step.
Spectator or Active Participant?
I’m writing this blog at the close of the London Olympics, waiting for the London Paralympics to begin. It is serendipitous that what stands out for me in Step Ten of the Ten Steps to Wealth is the question that Paul asks:-
“Are you a spectator or an active participant?”
Most of us will remain spectators on the edge of all we desire. That was a harsh observation I just made, but it seems to be what I have experienced in my life and what I see all around me. We keep adapting our dreams to fit what is available and get scared to reach out in case we fail, or even in case we succeed!
One of the key understandings I have made so far is it’s so important to become an active participant, no matter how small the step, and no matter the feedback. The other key understanding in becoming an active participant is the role of a mentor.
Taking the example of an Olympic Athlete is so obvious! First of all they had to take the small step of participating. They would not always be a winner on their journey forward. They had to face failure as well as success. And they had to process their feedback. Not one of them is without a coach.
No Matter the Feedback
When I was a real estate representative many years ago, I spent a number of days and a lot of energy showing a buyer a number of properties. I suggested that the adjacent suburb would get her what she wanted for the price she could afford. She rang the following day to tell me she had purchased with another agent in that adjacent suburb. I did all the work and got no commission. Without a mentor I couldn’t process the information that I actually preformed really really well for 90% of the experience, I just didn’t use the appropriate sales techniques to be able to convert her under my watch. That’s the sort of feedback a mentor can provide. I thought I was a total failure and found it very difficult to move forwards. Eventually I just stopped participating and became a spectator – I changed occupations.
I’m sure that most of you would have had similar experiences where you thought you might have been complete and utter failures while participating in an experience be it investment, diets, occupations or relationships. Sometime after, you gain a sort of perspective and realise that you actually had some successes within that experience and wished you had had that insight at the time and things could have worked out differently. It’s seems very difficult to mentor yourself.
Oh – and don’t get mentoring confused with advice! Advice is cheap – everyone will give it to you. Mentoring is not necessarily expensive, it can even come free, but it needs to be from someone who has had the experience or insight into what you are attempting to do. If I would have had a mentor in architecture, real estate, or teaching my life would be different today. I had two great mentors in project management, and feel that I have had some success in that field.
No Matter How Small the Step
Take steps forward no matter how small. It’s so easy to lose momentum and give up. Keep reading books, articles and blogs about your goal. There are heaps of seminars around, which are usually quite cheap to attend. Okay some are “rah rah” and not for you or me, but my own philosophy is even if I get one bit of information out of it , I’ve moved forward, I’ve learnt something new and it will keep my radar alert for the next bit of information or opportunity.
Subscribe to the Ten Steps to Wealth to read more about how Paul expands on the analogy between wealth and sport – playing the game or just watching!
If you want to keep moving forward with me, I’ll continue writing this blog, expanding on some of the previous topics and adding some new. I’ll share my own ‘aha’ moments with you. From time to time Paul runs webinars and chat sessions which I will give you access to as a Ten Steps to Wealth subscriber – but you will need to subscribe to the Ten Step to Wealth if you wish to participate in those!