Warren Buffett was mentored by Benjamin Graham- don’t make a lot mistakes in life.
People say you should go out and make your own mistakes, but it depends on the mistakes. You only learn from mistakes, but they don’t need to be yours. Not everything will go great, but if you make fewer mistakes than other people. If an average entrepreneur fails within the first two years (make for example 100 mistakes and fail in business), you should make only 20 of them.
Like in baseball, don’t go all in on every ball- pulling the back muscle in the gym and having to rest for months. 5 pounds of muscle/year, losing half a pound/week doesn’t sound as much, but that’s realistic for metabolism, environment to catch up (family not stocking bad food in the fridge).
If you think you have a billion-dollar idea, but never even had $100,000 idea, you’re too cocky. Jordan scored the majority of points with simple shots, not just incredible dunks that media shows, Buffet waited for years sometimes to find the right deal- slow and steady, Sun Tzu says you need to know yourself and your enemy.
When you lose your first 5 pounds you’ve done the hardest part; if you just stop the bleeding (at least stop gaining weight and losing muscle), at least don’t lose money, break even or earn $1; that’s the first step, if you feel lonely at least hang out with the friends you have (not even focusing on new friends), that is the first base on Baseball- stopping the negative momentum, lock it in so you don’t go backwards, then keep doing the next 67 steps and focus on 18 month goal.
The second base is getting some positive momentum (you need some time to lock it in, maybe 67 days)- get one random acquaintance, lose a pound, be grateful (A theory of everything); most people stop bettering their life because it’s too hard to do it all at once; stopping the bleeding and now doing the complete opposite as you used to do at the same time. Now you get excited!
On the third, you’re really seeing the results and people notice it and that’s a great feeling. Now you pay for things, get good mood swings, meeting other people, gaining muscle… (you need time for the brain to catch up- do it 67 days; it takes time to rewire).
And only then you’re going to hit your goal- financial freedom, losing 35 pounds. Happiness comes from moment to moment happiness and memory happiness (looking back and seeing that you gave correct time frames to your goals and pulling them off); now the rock is going downhill and you really get excited and haven’t made too many mistakes.
What is an example of you trying to hit a home run in Health, Wealth, Love and Happiness, and what was your end result?
Wealth; going for too risky investments and thinking it’s very easy without knowledge.
What is an example of something you want to change your life in either Health, Wealth, Love, and Happiness?