What Is Success?
The dictionary definition of success is:
“The accomplishment of an aim or purpose.”
“The attainment of fame, wealth, or social status.”
“A person or thing that achieves desired aims or attains fame, wealth, etc.”
Of course, what success means to you, is only something you can know or work out.No one else.
So maybe the pinnacle of success for you is having a fleet of flashy $100,000sports cars?
Going on luxurious holidays every three months?
Or more practical things such as, owning your own business?
Buying your first house?
Paying off your mortgage?
Being financially free through trading investments?
Success could be many things, it’s all down to what your life GOAL is.
The more important question is –
How will you achieve your goal(s) and attain that success you desire?
Because setting a goal is easy.
It’s what you do and how you do it that matters.
But just as important as taking physical action, is how prepared you are mentally.
Are you in the right frame of mind to achieve your goals and reach success?
Is your mind set on being successful?
You can answer that question right now.
If there is something you want to achieve soon, are you mentally ready to move forward and achieve it?
Here are some Tips To Develop The Perfect Mindset For Success:
– Developing A Growth Mindset
Not sure what a mindset is, let alone growth mindset?
A mindset is how you perceive yourself, what you think of yourself or how you see yourself as a person.
You have an idea who you are.
Or maybe you don’t yet, many people don’t.
Or they have an idea about themselves which may not really be true (but that’s for another time!)
Let’s say you are aware of your mindset.
The interesting thing is your mindset might be fixed.
Or it might be open to growing.
There’s a famous book by Carol Dweck, called Mindset: The New Psychology of Success.
It was published in 2006 and has since been updated.
She is renowned as the first person to coin the phrase “growth mindset.”
And it really is something that gets you thinking.
The idea is that people who believe they can develop their talents, knowledge and skillset are displaying a growth mindset.
Those who believe they don’t need to do anything and are happy with what they have got by way of talent and skills, have a fixed mindset.
This is really interesting, and the more you think about that the more enlightening it is.
In other words, someone with a growth mindset it focused on self-improvement!
Those with a fixed mindset believe their abilities are natural, innate, given to them by birth and they don’t need to learn anything further.
Having a growth mindset is about seeing obstacles as opportunities to challenge yourself, as opposed to staying stuck in your comfort zone.
Those with a fixed mindset prefer to demonstrate strengths, rather than expose weaknesses.
Yet…
What you perceive as weaknesses can actually become strengths… if you develop a growth mindset!
If reading this you are suddenly getting interested in developing a growth mindset, you can begin by:
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- Exploring times when you have made improvements within yourself and how that came about, what did you do to achieve that? Did this involve a growth mindset?
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- Look at others who have overcome difficulties or challenges, was this as a result of a growing their mindset?
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- Kickstart the development of you growth mindset by learning something new, maybe by going on a trading and investing course if you want to grow your wealth?
In trading and investing terms, developing a growth mindset involves embracing the concept of risk:reward.
Because a disciplined risk:reward strategy helps you grow your wealth.
In other words, no risk – no reward.
In fact, trading and investing is an activity that perfectly demonstrates growth mindset at work, so we shall continue with that as our marker.
– Making Mistakes IS Okay!
This is another element to developing a growth mindset.
The natural instinct when doing anything is you don’t want to make a mistake.
We don’t want to make the wrong decision.
Mistakes are costly!
Mistakes are the end of the world!
It’s a natural fear to have… but if you start to think of mistakes in a different way, you can eliminate that fear immediately.
Think of mistakes as OPPORTUNITIES TO LEARN.
But that’s crazy, right?
No, not at all!
Again, trading and investing is a good arena for demonstrating growth mindset at work.
Because you have to make decisions if you want to take advantage of trading and investment opportunities.
Some will pay off… others won’t.
That is all natural and part of the wealth creation world.
The key is not to see every loss as a mistake or wrong decision, especially if you are trading regularly.
You accept it, move on.
But you can do this easily because you are following a strict risk:reward strategy – for instance, you ensure you only ever lose 1%.
That becomes a manageable risk, one you can endure and not lose sleep over.
As famous inventor Thomas Edison once said: he didn’t fail—he just found 10,000 ways that didn’t work!
By embracing mistakes, you are growing your mindset.
– Take Responsibility, Be Accountable
This is another important facet of growth mindset and strongly linked to embracing mistakes.
Because every step of the way to achieving your goal and finding success is down to you, the decisions you take, the choices you make.
By taking responsibility for your actions during trading and investing, you are developing a growth mindset.
And as you go, you will find other ways to grow your wealth.
As you growth mindset develops, so will your portfolio of assets.
Your mindset, in a sense, is diversifying!
And diversification is another major facet to growing your wealth!
– You MUST Be Of Healthy Mind & Body
As mentioned at the top of this piece, to achieve success at anything requires the right frame of mind.
But having the right frame of mind BEFORE embarking on any trading and investing of stocks, cryptos and other assets is vital.
Your mind needs to be clear and unfrazzled, to be able to learn trading investments strategies and concepts.
And then implement them on the virtual trading floor!
Being tired, lacking energy, impairs your judgment.
You’ll make trading errors.
That’s okay, we just said embrace your mistakes!
But, come on, this type of mistake is AVOIDABLE.
There’s nothing to be gained by making a mistake on purpose.
Besides, a healthy mind is key to your overall health and well-being, so seeking to achieve both is a no-brainer really!
– Why Taking Action Is A MUST!
You’ll never succeed, if you don’t ACT.
After all…
Knowledge + Action = Result
In trading and investing terms, all the facets outlined above are linked to growth mindset.
They go hand-in-hand.
So, in order to develop a perfect mindset for success involves taking action to use your mind to embrace the idea of achieving financial growth.
Some call it wealth creation or building wealth.
You’re building for the future.
You’re growing your money for the future.
Taking action to learn how to do that through trading and investing is a great way to start.
Summary:
The wonderful thing developing a growth mindset is that ANYONE can do it, for whatever you want to achieve in life.
Just as ANYONE can learn about trading investments.
Here at Investment Mastery, we specialise in both and have been successfully providing the education, knowledge and training for thousands worldwide since 2004.
Why not begin your growth mindset journey by subscribing to IM Insider?
IM Insider is FREE and gives you access to so many useful guides, videos, books and forums to kickstart your learning about stocks and cryptos and other assets.
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