I mentioned in yesterday's update that I had gotten my hair cut. My cosmetologist is named Miriam Garridos. Now, I don't know if she would appreciate me talking about her, but I'll risk it. I think she's worth it.
Miriam is from Central America. She is a legal immigrant who came to America with her son 12 years ago. They went through all the legal red-tape to make the move and have lived here since. She recently got her citizenship and works hard. She embodies the idea of opportunity knocking.
Ive really been thinking about this idea of Opportunity lately. Miriam, for example, hasn't had it easy. She is not rich, and she is not on the government dole absorbing taxpayer money. She works and takes care of her son. She pays bills and she jokes about the cost of heating. But I have never heard her complain.
She considers herself lucky to be here and to have taken advantage of the opportunities presented to her.
I'm sure she sees it simply, that she is DOING what she must to achieve her aims. I have not asked her about her dreams, but I'll wager she learned a long time ago that action makes things happen. I also suspect she sets more goals than dreams.
I cannot imagine her "playing the victim," complaining and blaming others for her difficulties. She knows that nothing good comes easy. She left her home and her family to make a new life here, after all... that alone was hard. But she had to do what was needed.
Brian Sher talks about this in his book, "What Rich People Know and Want To Keep Secret." He says the one thing which sets success apart from failure is doing things one doesn't want to do. You can't complain about things or stop because it is hard. You cannot blame others if they don't "make it happen" for you - You must GO, DO and BECOME, if you are to achieve anything.
I'm certain Miriam would agree.
Showing posts with label persistence. Show all posts
Showing posts with label persistence. Show all posts
16 December 2010
Opportunity versus Security
"Opportunity and Security are different things"
I read this today and I simply had to add it. I was waiting to get my hair cut and was reading ESPN magazine. The article this appeared in was about NBA players who go to the European and Russian leagues, when their NBA star contracts are let go.
Those players that go to Europe find that they are given 2 year contracts with a third year as option. But they can be let go at anytime - it isn't binding as it is here. Often the player must do a lot of diligence to learn about the signing team in Europe. sometimes they don't pay according to the contract, leaving a player wearing a big name on his shirt - but without his paycheck.
The alternative, of course, is to leave pro sports behind and fade into the crowd. Maybe a minor coaching job will surface, but bottom line its back in the herd for most of these NBA flash-in-the-pan players. Im not talking about the Michael Jordan type players - I refer to the almost nameless, everyday players out there. The Euro/Russia leagues offer a chance to keep playing and stay in the game.
The point of course is that there are few safe opportunities. Usually a lot of sweat, effort and occasional danger is associated with opportunity. Much of success is dependent on the individuals ability to lay the proper groundwork. It is said that a single adjustment is all it takes for people's lives to change to greatness. But no one promises that the adjustment would be easy to see, or handed to you wrapped in tidy packaging.
I tip my hat to those players who continue to GO, DO and BECOME, taking the leap over the pond.
I read this today and I simply had to add it. I was waiting to get my hair cut and was reading ESPN magazine. The article this appeared in was about NBA players who go to the European and Russian leagues, when their NBA star contracts are let go.
Those players that go to Europe find that they are given 2 year contracts with a third year as option. But they can be let go at anytime - it isn't binding as it is here. Often the player must do a lot of diligence to learn about the signing team in Europe. sometimes they don't pay according to the contract, leaving a player wearing a big name on his shirt - but without his paycheck.
The alternative, of course, is to leave pro sports behind and fade into the crowd. Maybe a minor coaching job will surface, but bottom line its back in the herd for most of these NBA flash-in-the-pan players. Im not talking about the Michael Jordan type players - I refer to the almost nameless, everyday players out there. The Euro/Russia leagues offer a chance to keep playing and stay in the game.
The point of course is that there are few safe opportunities. Usually a lot of sweat, effort and occasional danger is associated with opportunity. Much of success is dependent on the individuals ability to lay the proper groundwork. It is said that a single adjustment is all it takes for people's lives to change to greatness. But no one promises that the adjustment would be easy to see, or handed to you wrapped in tidy packaging.
I tip my hat to those players who continue to GO, DO and BECOME, taking the leap over the pond.
15 December 2010
What are you doing to test yourself? How are you pushing yourself to greater things? In fact, ARE YOU doing this?
I have recently undergone HAZMAT Response training, wherein I (and my team) were trained to respond to the spill of hazardous, even deadly, chemicals. I mean, this was the real deal - we dressed in sealed space suits, we resolved toxic spill situations and for all intents, we saved lives. In the process, I found out what my associates were capable of, who "had my back," and when the chips were down who could be relied upon to act quickly, coolly and bravely in the face of a dire challenge.
This was very comforting and enlightening.
But it led me to wonder how many of us deliberately place ourselves in trying situations. I'm not suggesting that HAZMAT Response Training is the only answer, even if I think it would benefit anyone. But, ask yourself: "Am I forcing myself to do things that I am afraid of? AM I DELIBERATELY TESTING MY LIMITS AND TRYING TO REACH BEYOND THEM?"
If you are like most people - you are not. You move at a slow pace, you avoid risk and you look for the easy way to get somewhere. That is normal; it's what most do.
It's also why people don't leave the "dream phase" of their lives. We are told that we need to dream big, to be all we can be... but putting dreams into action requires us to often go into frightening territory. That part is left out of the promotional materials, somehow.
But it is this attribute, the willingness to face fears and challenges come what may, that sets the achiever apart from the dreamer. Every hero, every great and unknown success story, has this as an element of their life. Nothing was ever achieved merely by dreaming - it is the DOING that we remember. And while it may be fraught with dangers, real and imagined, it has to occur.
So again, ask yourself as you dream big, "When dreaming has run it's course, am I ready to face my fears, to sweat and to WIN?"
I have recently undergone HAZMAT Response training, wherein I (and my team) were trained to respond to the spill of hazardous, even deadly, chemicals. I mean, this was the real deal - we dressed in sealed space suits, we resolved toxic spill situations and for all intents, we saved lives. In the process, I found out what my associates were capable of, who "had my back," and when the chips were down who could be relied upon to act quickly, coolly and bravely in the face of a dire challenge.
This was very comforting and enlightening.
But it led me to wonder how many of us deliberately place ourselves in trying situations. I'm not suggesting that HAZMAT Response Training is the only answer, even if I think it would benefit anyone. But, ask yourself: "Am I forcing myself to do things that I am afraid of? AM I DELIBERATELY TESTING MY LIMITS AND TRYING TO REACH BEYOND THEM?"
If you are like most people - you are not. You move at a slow pace, you avoid risk and you look for the easy way to get somewhere. That is normal; it's what most do.
It's also why people don't leave the "dream phase" of their lives. We are told that we need to dream big, to be all we can be... but putting dreams into action requires us to often go into frightening territory. That part is left out of the promotional materials, somehow.
But it is this attribute, the willingness to face fears and challenges come what may, that sets the achiever apart from the dreamer. Every hero, every great and unknown success story, has this as an element of their life. Nothing was ever achieved merely by dreaming - it is the DOING that we remember. And while it may be fraught with dangers, real and imagined, it has to occur.
So again, ask yourself as you dream big, "When dreaming has run it's course, am I ready to face my fears, to sweat and to WIN?"
02 March 2010
Warren Buffett Speaks
I'm asked all the time about making money in the stock market. Well, I'm no expert... I'm still working on it. But plenty of people are and Warren Buffett is one of them. He is arguably the world's greatest stock investor and a bit of a philosopher. He pares down his investment ideas into simple, memorable sound bites. So lets look at them, shall we?
Rule No. 1: Never Lose Money.
Rule No. 2: Never Forget Rule No. 1.
Buffett lost about $23 billion in the financial crisis of 2008. So how can he tell us to never lose money?
Its the mindset of a sensible investor. Don't be frivolous. Don't gamble. Don't go into an investment with a cavalier attitude that it's OK to lose. Be informed. Do your homework. Buffett invests only in companies he thoroughly researches and understands. He doesn't go into an investment prepared to lose, and neither should you.
Buffett believes a successful investor doesn't focus on being with or against the crowd. He remains focused on his goals.
Rule 3: If The Business Does Well, the Stock Eventually Follows
Buffett knows that investing in a stock equates to owning a piece of the business. So Buffett seeks out businesses that exhibit favorable long-term prospects. Does the company have a consistent operating history? Does it have a dominant business franchise? Does the business generate high and sustainable profit margins? Finally, is the company's share price trading below expectations for its future growth?
If so, it's a stock Buffett may want to own.
Buffett never buys anything unless he can write down his reasons why he'll pay a specific price per share for a particular company. Do you do the same?
Rule 4: It's Better to Buy a Great Company at a Fair Price Than a Fair Company at a Great Price
Buffett is a value investor; he likes quality stocks at rock-bottom prices. His goal is to build more operating power by owning stocks that generate solid profits and capital appreciation for years to come. During the recent financial crisis, he stockpiled great long-term investments by investing billions in names like General Electric and Goldman Sachs.
To pick stocks well, set down criteria for uncovering good businesses, and stick to their discipline. For example, seek companies that offer a durable product or service and also have solid operating earnings and the germ for future profits.
Or, you might establish a minimum market capitalization you're willing to accept, and a maximum P/E ratio or debt level. Finding the right company at the right price -- with a margin for safety against unknown market risk -- is the ultimate goal.
Remember, the price of a stock isn't the same as the value you get. Successful investors know that.
Rule 5: My Favorite Holding Period Is Forever
How long should you hold a stock? Buffett says if you don't feel comfortable owning a stock for 10 years, you shouldn't own it for 10 minutes. Even during recent times, Buffett loyally held on to the bulk of his portfolio.
Unless a company has suffered a sea change in it's prospects, such as impossible labor problems or product obsolescence, a long holding period will keep an investor from being too fearful or too greedy. Fear and greed cause investors to sell stocks at the bottoms or buy at the peaks -- thus destroying portfolio appreciation for the long run.
From Stephanie Loiacono and investopedia.com
The recent financial meltdown didn't change anything. The unfussy sayings from the Oracle of Omaha still RULE! So you see, we don't have to be experts when we already have them in our back pockets.
P.S. I do wonder, though, how Mr. Buffett would fare if truly lost everything.
Rule No. 1: Never Lose Money.
Rule No. 2: Never Forget Rule No. 1.
Buffett lost about $23 billion in the financial crisis of 2008. So how can he tell us to never lose money?
Its the mindset of a sensible investor. Don't be frivolous. Don't gamble. Don't go into an investment with a cavalier attitude that it's OK to lose. Be informed. Do your homework. Buffett invests only in companies he thoroughly researches and understands. He doesn't go into an investment prepared to lose, and neither should you.
Buffett believes a successful investor doesn't focus on being with or against the crowd. He remains focused on his goals.
Rule 3: If The Business Does Well, the Stock Eventually Follows
Buffett knows that investing in a stock equates to owning a piece of the business. So Buffett seeks out businesses that exhibit favorable long-term prospects. Does the company have a consistent operating history? Does it have a dominant business franchise? Does the business generate high and sustainable profit margins? Finally, is the company's share price trading below expectations for its future growth?
If so, it's a stock Buffett may want to own.
Buffett never buys anything unless he can write down his reasons why he'll pay a specific price per share for a particular company. Do you do the same?
Rule 4: It's Better to Buy a Great Company at a Fair Price Than a Fair Company at a Great Price
Buffett is a value investor; he likes quality stocks at rock-bottom prices. His goal is to build more operating power by owning stocks that generate solid profits and capital appreciation for years to come. During the recent financial crisis, he stockpiled great long-term investments by investing billions in names like General Electric and Goldman Sachs.
To pick stocks well, set down criteria for uncovering good businesses, and stick to their discipline. For example, seek companies that offer a durable product or service and also have solid operating earnings and the germ for future profits.
Or, you might establish a minimum market capitalization you're willing to accept, and a maximum P/E ratio or debt level. Finding the right company at the right price -- with a margin for safety against unknown market risk -- is the ultimate goal.
Remember, the price of a stock isn't the same as the value you get. Successful investors know that.
Rule 5: My Favorite Holding Period Is Forever
How long should you hold a stock? Buffett says if you don't feel comfortable owning a stock for 10 years, you shouldn't own it for 10 minutes. Even during recent times, Buffett loyally held on to the bulk of his portfolio.
Unless a company has suffered a sea change in it's prospects, such as impossible labor problems or product obsolescence, a long holding period will keep an investor from being too fearful or too greedy. Fear and greed cause investors to sell stocks at the bottoms or buy at the peaks -- thus destroying portfolio appreciation for the long run.
From Stephanie Loiacono and investopedia.com
The recent financial meltdown didn't change anything. The unfussy sayings from the Oracle of Omaha still RULE! So you see, we don't have to be experts when we already have them in our back pockets.
P.S. I do wonder, though, how Mr. Buffett would fare if truly lost everything.
29 April 2009
"Moderation is a fatal flaw. Nothing succeeds like excess." - - Oscar Wilde
Did you get that? Read that again.
Now there, folks, is a real secret to getting ahead in whatever you do. "Gurus" and "mentors" the world over tell you the same thing. They devote books to it, they charge huge sums to attend their seminars to teach what Mr. Wilde has said in nine words.
The message of course is this: You must have passion, committment, involvement, immersion, perhaps even obsession, if you are to ever achieve anything worthwhile.
All the greats at anything do it - they don't go at "their thing" half way. They pursue it to its ultimate possibilities, without distraction.
Take Tiger Woods for example. Since the age of 3 he gave his all to the game of golf. Maybe part of it was his father pushing; if so he can thank his Dad for that. Regardless, as time went on the passion to be the best took hold. Look where it has gotten him.
So, if you want to be successful, or get ahead or "achieve" that which is important to you, then you had better not half-ass it. Accept no excuses from yourself or anyone. Give it your all, and dont let up.
Did you get that? Read that again.
Now there, folks, is a real secret to getting ahead in whatever you do. "Gurus" and "mentors" the world over tell you the same thing. They devote books to it, they charge huge sums to attend their seminars to teach what Mr. Wilde has said in nine words.
The message of course is this: You must have passion, committment, involvement, immersion, perhaps even obsession, if you are to ever achieve anything worthwhile.
All the greats at anything do it - they don't go at "their thing" half way. They pursue it to its ultimate possibilities, without distraction.
Take Tiger Woods for example. Since the age of 3 he gave his all to the game of golf. Maybe part of it was his father pushing; if so he can thank his Dad for that. Regardless, as time went on the passion to be the best took hold. Look where it has gotten him.
So, if you want to be successful, or get ahead or "achieve" that which is important to you, then you had better not half-ass it. Accept no excuses from yourself or anyone. Give it your all, and dont let up.
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