I know all about losing momentum. It's taken 4 years for me and my husband to start again.
We've always been in the E/S quadrant....I'm the E and my husband is the S. We've owned two businesses. The first morphed into the second and it closed in 2003 due to insurmountable debt. However, we jumped right back into our dreams of being rich by borrowing money to take an in-home real estate course. We found an investor/friend to help purchase a property to rehab. It took a year to rehab and by then (2006) the housing market crashed and there sat our house with no buyers.
By the time we finally sold it all profits were eaten up and my investor friend lost big time. That stopped our momentum. We never tried again. The pain of that financial loss for our friend was hard to accept so we both returned to the E quadrant. It wasn't until I was laid off from my job this spring that we decided it was time to take action again.
Robert, your Rich Dad World had everything to do with that decision. We realized that because of our ages and the crappy job market we would have to take our future into our own hands. Your Rich Dad World programs helped us to make that decision.
So now, we are starting again in the real estate business because we know now that investing for cashflow is the only way we will attain our goals. And we are doing this through your Rich Dad World information and your coaching program. We're excited to get started again.
It is a great pleasure knowing someone like you and having opportunity to learn from you. my grand father use to tell us that if you learn something from someone's experience that you steal it, that stealing is the best, that something don't need to happen to you before you learn. I have learn a great deal from you, expecially, we do not need to loose momentum when the going became tough. I have had my ups and downs and right now i m experiencing the greatest challenges in my business. each passing day gives me joy to continue to fight. I do hope that if i dont loose my momentum i will succeed. Broadway will only give up to those who refused to be knocked down by her.
My father crashed in a helicopter back in 1970's. There were 2 survivors. One was my father. He did not fly in anything again until 2008. Fear is a powerful non-motivator if you let it rattle around in your head.
On my first deal I am currently stalled because lending rules keep changing before I can get an unseasoned refinance. My HML is understanding and extending the loan instead of taking the property with his quit claim deed. Soon I will be able to do a seasoned refinance if the special lenders can't do the unseasoned. It's a possible cause for lost momentum but I'm not falling for it. I have to many people in my family I am teaching and will be teaching to stop now!
It was a great first deal! No money down, wholesale with rehab arranged and finished in less than a month and lease optioned immediately. Bringing in $4,000 at close and near $300 CF per month. Next I want multi-units up to 4. This is so much fun!
I was very lucky to find a fantastic team to work with. They stand by me. When this loan is refinanced I will be doing another deal with them.
I was really impressed by the courage shown by you to shake the dust off and get back up. We can die 1000 deaths in our mind but in reality only once. I have found that momentum is contagious. If you surround yourself with others who are taking action, that have been knocked down and gotten back up, if you have a coach or friend that is willing to push you, there will be no time to sit around and think about what if, or I woulda, or I coulda, or I shoulda.
I remember reading a story about Arnold Schwarznegger when he was competing for the Mr. Olympia title and he found out that his father had died or was about to die back in Austria. He said that he could have left the competition and gone back to see his father buried but that would not bring his father back. He was in the middle of this competition and did not want to lose his momentum or his focus by this tragic event happening in his life.
Maybe this is extreme but maybe not considering the success he has had in his life and the influence he has had on others.
Thank you for your teaching and examples that we can learn from and to teach others about.
What struck me the most was hearing how big winners still feel the hit, but get themselves back in the game quickly. I also need to hear how to ask the right questions, what they sound like and see the great examples Robert has given.
I have lost momentum in the past due mostly to forgetting my dream in the face of setbacks or failures (experience) and sitting around for a week feeling sorry for myself. I only recover after a full day of revisiting my dreams and the plans I put in place to achieve them. When I feel the fear that comes from wallowing too long I have to force myself to take just that one small step that puts me in a position where I have to keep going. It's getting into the car and driving toward the sales call, then getting out of the car and walking into the office. Once in the office I walk up the receptionist and I'm stuck, I have to say something or I'll look stupid. Even if that call turns out to be experience, I keep momentum by making notes about what I learned and making plans for the next call.
O.k. I get stuck in "analysis paralysis". I get nervous about dealing with other people, think and think and think it through and I get afraid to make a mistake and what will other real estate agents and escrow officers.... will think when I make a mistake? Like I am supposed to know it all.
This article you shared has soooooo made a difference in my thinking about "what if I make a mistake" in front of everyone - as if no one else has made any mistakes, right? I am sure they all have. I am sure they all will. Why am I not supposed to make any mistakes?
Also, I have backed off on the real estate investing because I wanted my license so as to accumulate that level of knowledge and to maximize profits as we got into real estate investing. I also take care of my husband's grandmother, who chose (seriously on purpose chose) to be a full fledged invalid. Due to the down economy, can't just move her in to a facility, so I am homebound until I can get things changed.
Therefore, I am studying options trading with WIA. Also, studying Van Tharp's Peak Performance training so as to do the best I can do in options trading.
I really cannot tell you how much this posting has "woken up" my thinking! DON'T GIVE UP, is another reminder - yet again.
I have also been afraid of my husband's reaction of what if? Well, isn't that FEAR = false evidence appearing real? Wow!! We tend to FEAR what never comes to fruition and we "get through" what ACTUALLY does.
Thank you, Robert, for caring about "people". If you didn't, you would not be doing this. Again, you and Kim are my heroes!! That just means you are my examples to follow. Thank you!
Actually, I'm in Story #2 right now but my issue isn't business failure - quite the opposite. My issue is that my 20 year partner and I built our business on a personal relationship/friendship that has now ended leaving me with no momentum but still in business with him. As a woman I psychologically built the business on the foundation of "we" and now find myself, alone, struggling in the transition of "I" as we remain business partners. The personal crisis that this has created in the face of "doing business" is both painful and eye opening. I wonder if this has happened to anyone else? Clearly, this is why interpersonal relationships in business can be tough! Anyone else have this happen? If so, what did you do when everything says run and you have a solid business operating at the same time?
First of all, special thanks to you Robert for the book an the learnings from others like rich dad, pour dad!!!!!
About the posting, guess some different lessons I see in the postng
1) FEAR:
As I read the crashing experiences I remember my self in many adventure sports and about buying stocks.
I tended (and frequently still) to fear failure and its consequences, giving too much importance to the possible bad outcome (crash or loss). At the end when I fell, crashed or lossed it was not more than that. A hit. Experiencing failure in perspective gave me experience and took most of the fear, allowing me to go further. Objective evaluation of risks, the chances and acting on them is a great tool to take most of it away.
2) BEING AWAKE:
Being able to sufvive the hits does not mean you should receive them by handfulls all the time. Not being scared does not mean you should not be awake and conscient of what's going on, not loosing opportunities nor not reading in between the lines. Being really conscient of the situation is key
3)MOMENTUM:
I believe keeping momentum has much to do with keeping your focus, keeping the important things present and maintaining your determination and discipline to do what needs to be done. About being unreasonable about not quiting. This gets you much further than just keep on going.
Again, Thanks Robert for sharing the book and learning experiences!!!!
This story of keeping your momentum is a great reminder for me this morning as I read it. My husband and I are 5 years new into the real estate investment scene and looking to refinance one of our properties to increase the cash flow. Yesterday we were turned down for a refi only because we had put that property on the market within the last 6 months in an attempt to sell. We were not aware that there is a 6 month waiting period. It is easy to get distracted by the negative and become paralyzed. Today I have the encouragement from this story to research this further and call some more lenders to see what we can do about getting this property refinanced.
On another note, when I was 16, my mother passed away and two years later, my father decided to not consider me as his daughter. Those were tough times for me. Though I still struggle with self esteem issues, I am where I am today because I push forward and seek new answers to who I am as a person and my purpose in life. I surround myself with people who cheer me on and give me constructive criticism. I refuse to let my father's voice ring in my head about how I am not deserving and look to the positive. Today I have a wonderful husband who loves me and two beautiful daughters who want to be just like me. Reading this online book has both confirmed concepts which I have learned over the years and has also given me new insights which I have never considered before.
I sold my business two years ago at the age of 41. I was exhausted after 20 years of hard work and decided to take two years off and purchased a farm. The problem is now I all my old clients have moved on and a new generation of people have emerged and Bill Levitt's story is one i want to avoid. So i'm trying to get new momentum going with my farm business.
- The main income is from fresh produce ( the last two years drought has reduced yield by 50%)
- Looking at selling timber from the property
- starting a hunting business ( deer )
- accomadation for holiday travellers
- selling spring drinking water
I remember Mr Trump telling that story of Bill Levitt when he and the Kiyosaki's came to Dallas a few years ago. It was winter and there had been a storm that had laid ice on the streets the morning that Robert was to speak. My wife and I decided no to risk driving on the ice until the sun came out later that day. We missed Robert speaking. We heard Donald Trump and we got to hear Kim Kiyosaki but that one loss of Robert's speech never went away.
It was a good lesson. We have not missed a chance to 'put on our tuxedos' since.
When you learn these lessons, life gets better.
In your first story, your point about the questions was surprising to me, because when I just started back to school the instructor said that we are only as good as the questions we ask. I know how you feel about the education system; however, I have learned a tremendous amount just as I have learned from your products. The biggest thing is I learned to learn.
In your second story, keeping your momentum I am retired from the military and the biggest thing I have been trying to avoid is losing my momentum. I have been reinventing myself, and it has not been easy. Thank you for story number two, it’s very inspirational. My momentum has been lost, because I have to start over in a new industry and finding that one thing inside to motivate me. Security was the reason behind me staying in the service as long as I did, but change was my motive in getting out. I have changed the way I look at life in many different aspects, “trying to see both sides of the coin”. So my challenge now is to build that momentum and start again. How am I doing this, by educating myself in all different kinds areas, then choose one direction to take. My philosophy to problems are try one approach to solve a problem, and if it doesn’t solve the problem, just keep trying different approaches until you find the one that works. I am in the middle trying a lot of different approaches.
"When I lost my nylon wallet business I was deeply IN debt"... missing the word 'in'
I like the section very much. Though it reiterates points made very often, it bears repeating and it makes people realize that it is important
Many years ago there was a summertime commercial about hot perspiring people taking a sip of tea, closing their eyes and falling backwards with a splash into a cool blue pool. There was some sort of tag line about "Take the Nestea plunge". I've bought 30 duplexes in the last 8 years and before each one friends warned "Its too much" or "Its cheap but really a dump" or "you cant get financing." I got one last week that was $220k a year ago and 1 block from 1/2 mil to 1 mil homes, but now vacant, bank-owned and had the A/C and copper stolen so "couldnt" be financed. I studied every angle then practically stole it for 65k. Why didnt 50 other people get it? I guess I have a habit of thinking, closing eyes, and taking that plunge. The momentum is sort of automatic. Oh, this place has a pool.
The main things in the story that impacted me was that you should never give up, lose your momentum or retire. Always STAY CURRENT. QUALITY LIFE IS LIFE WITH PURPOSE SO NEVER RETIRE. purpose so never retire. It is okay maybe to go into a different field or try something that else that you always wanted to try but stick with what works and be watchful. If it is no longer working tweak it and change what needs to be changed to stay in the game. Don't get stuck in a routine and not be willing to change if the change will bring about improvement. If you enjoy what you are doing and your are successful at it continue with it, retirement is overrated, you need purpose in your life. It is okay to delegate some of your responsibilities but never totally retire.
After graduating college in 2005 - I was full of beans and ready to take on the world. When I returned to Australia, I noticed my best friend had bought a property a year earlier, that was now worth $100,000 more than he paid for it.
I congratulated him profusedly, but I was secretly insanely jealous. For a long time I complained to myself, my friend and everybody who would listen - "I wish I never went to college" "I should have entered the market sooner" "I wish, I wish, I wish".
After about a year, I realised something very sobering. Complaining for that whole year, did not make me any money. It didn't matter how many people listened, or didn't listen, or the different, creative ways I tried to complain - I had lost the zest and momentum of graduating from college. I didn't have the desire and the dreams and fuel to push me anymore. I just had my complaints.
My complaints didn't teach me anything new. They just fueled more useless thinking.
This quickly sprang me into action. Realising action - not complaining - gets results, I bought my first rental. After a few months, I bought another. After 9 months, I had bought 4 rental properties. I had 4 successes, and about 4 hundred failures in that time. I learned a lot more from the failures, and I realised there was no reason to lose momentum, or stop and think for a great deal of time.
If I bought something and succeeded - I made money. If I bought something and failed - I learned something new and fantastic. If I stopped, and took an extended break - I lost momentum and had to build it all up again. There was nothing gained by stopping.
The thought that most people think and worry too much has struck home. I know that's what I do, and have done, all my life. I was trained to do it, by well-intentioned, but very cautious, teachers and family members. Instead of looking for ways to make things happen, they taught me to fret about how things might go wrong. I got stuck in that mode. Not any more. It's no fun, and it doesn't work. Everyone fails, but when you fall down, and figure out why, the next step is to get back up.
Momentum
I have been currently in analysis paralysis.My second business investment in transport business of car hire collapsed last year when I was out of my counntry to commission a project for three months.My wife did not do collection of payments for the three months.The people running the vehicles did not service them yet they lied to her that they were servicing.By the time i came back three cars had crahsed,two had engine knock due to lack of service,80% of the clients did not pay.Some of the clients had managed to change the standard contracts to favor them.I was devastated.
I sold all the remaining and purchased land early this year.I'm being offered 30% higher price but have been stuck in the paralysis analysis.
Today I made up my mind.I will sell and move on to soource for another investment
The overall story line of #2 was a much needed reminder of keeping the momentum going and a lesson I know well. Seeing it in print gives me the story to share with my boys. You have no idea how much this is being instilled in my 11 year old son. Just having kids keeps my momentum going. However I did lose my first business at 23. One my father would not loan me the money to start. He wanted me to stay with the company I was working for because of its benefits. I did come up with the money on my own. I learned so so much from that experience. I also lost(divorce) my first husband before I started that business,( that gave me even more momentum) so I count that as having lost 2. The third business was not completely mine, just the idea that got it going and it needed more then me to stay afloat. Needless to say it's gone and it was the most fun yet.Giving me more momentum. Time-out. Becoming a wife again, and full time wife and mother at age 37. Building the momentum with a family now, building theirs as well as my own. At age 53. My boys are now 16 and 11. That is where The Rich Dad comes in as a blueprint. We are on a roll. THANKS!
I have been and am in the sitting back, loser woe is me attitude. This has been another push for me to get up and do something and keep momentum. Thanks for the nudge. I seem to get it daily with the Rich Dad reading and etc.
My first business crashed in 1997, with over $160,000.00 in debt. I don't think that I lost my momentum as much as my self confidence was shaken, partly due to the "I told you so" crowd in my famiy. The debt was primarily owed to family members. I have started two other businesses since then without debt and have spent the last 5 years cleaning up the last of the debt from the first business.
"Never give in. Never give in. Never, never, never..."
Thanks for the inspiring words in Conspiracy of the Rich.
good evening to everyone, after reading the story 2 in "don't lose your momentum" it all flashback into me when I was working as salesman of a milk product. I was reassigned in a different area & didn't hit the quota the first month on our area so I kept thinking on how to hit the next months' quota. I felt nervous of thingking my manager would see me as incapable of the work but I'm always thinking on "How to use dissatisfaction to work in my favor" as Napoleon Hill has said on Think & Grow Rich. I use it and gained momentum I hit the target on three consecutive months. After gaining the momentum I was over confident thinking that we could hit next month. It was third week of the month and we were bahind the daily to date target. I was too sloppy because of my over confidence gained from the previous months. I again felt nervous the weekend thinking that we may not hit the months' target within the last week. But I was determined to hit it and moved on we worked hard on daily to achieve and fill up the losses behind our sales. It was on the last working days that we made the sale to hit the target. We hit it and achieve 102% versus quota I was so glad that we made it and I never stopped since then - always letting my guards up. Gladly we hit our monthly sales on six consecutive months and I was promoted. I almost lost my momentum but I did not give up and worked as hard as I can leading my team to hit our goals - I regained my momentum.
Thank you Robert and Donald for this awakening story we don't have to lose our momentum.
Thanks for the Vietnam stories. As a "career" AF officer and fighter pilot, I deeply respect the part of your life you spent serving our country-thank you. I always appreciate when folks tell me that, too.
Setbacks/loss of momentum have occurred in one form or the other for me, just like anyone else. One of my loss of momentum times was when my previous wife decided to leave- even though I thought I was doing everything "right". I felt like we were sailing freely, money was flowing, we had bought and sold a house for profit, our 401k's, IRA's, and spending accounts were all maxed and flowing. We had no CC debt. Two cars were paid off. I felt like the wind was gone from my sails for several weeks following her leaving. In hindsight, all that feeling was for me was grief- the same grief feeling I felt when a couple of fellow fighter pilots had died in the line of duty-doing what they loved. The world, however, does not cease - the sun will rise in the east.
In the re-definition of myself, I found out some great things- and am now very happily re-married. One of the neat things about life is God has given us absolute abundance in everything (I think Retire Rich talks about this at the end). It is very, very true- wealth and prosperity are a mindset, and there is an infinite amount of dollars, real estate, or whatever you choose- so long as you choose and are able to see it. Same is true for love, happiness, material things, etc- obviously the list goes on.
Yes, I have lost several momentum moments because of arrogance.
In the same way, I regained my momentum becauase of arrogance. - I just kept at it because I couldnt accept certain chalenges getting the best of me.
Sometimes a total contradiction, but I have learned to be less arrogant when it hurts me head on. From my experience, over confidence can always hurt you. That is the wrong kind of arrogance.
Yes, I have a recovered. But I am still obviously a work in progress.
Don't give up. Thank you for the reminder. The examples you offered were great - concrete. I find my momentum gets knock by the culture and community around me thought I do chose friends carefully. At times I feel like a hermit as I don't want to be exposed to the negativity to keep my momentum. How do you balance this? Don't give up!!
Let me start out by thanking you for all the things that you have been doing over the years to bring reality to what it takes be successful.
There are days that things seem so tough that when you look left and right there are no answers. Based on this chapter 2, I see now that whenever you I see myself or feel that I are loosing momentum to plug into informative information like this that would give me similar story to my situation and make me think differently again.
It is true, you become who you hang around and spend your time with and they definitely drain you with their depressing stories. By hanging out here, it definitely assist me in getting focused and getting out there to get the job done.
Thanks for the opportunity to read the new works of Robert Kiyosaki. I am motivated more and more each time I read these. At the moment I am stuck in analysis paralysis. I am reading, but not moving. I have to find funding and I need to find out where to look. I don't have connections yet, but I am positive once I get that funding, there is no stopping me!
Any suggestions?
i struggle with this all the time! just a slow paced country girl trying to get into fast paced RE investing. gotta keep on going! thank you for this story. won't quit, won't give up.
Losing momentum or in my case analysis paralysis. Reading this article has made me realise I actually haven't learnt the right questions. I have a mine full of 'What if's and what will other people think. So from hence forth I am changing the questions. The first being "What do I have to know about raising money?" Thank you so much. I have actually learnt more in reading the chapters to your new book than I have in a very long time. Now to take action and build momentum.
I lost my communication momentum (described in my B&I triangle) while I was an employee and I've caught up with it since I quit (whereas I'm young, web 2.0 and social technology ... were a mystery)
Hope to share real experiences !
Feel free to "mail" me (mail icon). I answer asap.
I practiced sports (national championship),
I was educated as a building engineer,
I started as a junior market manager,
I changed for a product manager position,
I then asked to become a salesman.
Cement is what I expect to find as well as bricks.
The part of the story where Bill Levitt tried to get back in the game by just buying back what he sold previously for millions and then losing it all. He assumed he could have picked up where he left off years earlier. Instead, he could have used those same millions to find new opportunities that were appropriate for the times.
Currently, I am at a standstill in my momentum. I own 7 properties including the one I live in. I bought one property every year from 2003 to 2007. Ever since I bought my current home, which I wish I had waited, I am at a standstill when it comes to real estate investing. I'm just treading water as I see my equity slowly evaporate.
I actually try to find things I am interested in to do, which I guess in order to stay in the context, I just sober up from my misery and start looking for another stock.
I lost 20% 7 days ago. I could have seen the crash of my stock coming, but I didn't. I didn't see if coming because I was too confident and ignorant.
At least the amount was only about a Xbox. I can survive that.
I know all about losing momentum. It's taken 4 years for me and my husband to start again.
We've always been in the E/S quadrant....I'm the E and my husband is the S. We've owned two businesses. The first morphed into the second and it closed in 2003 due to insurmountable debt. However, we jumped right back into our dreams of being rich by borrowing money to take an in-home real estate course. We found an investor/friend to help purchase a property to rehab. It took a year to rehab and by then (2006) the housing market crashed and there sat our house with no buyers.
By the time we finally sold it all profits were eaten up and my investor friend lost big time. That stopped our momentum. We never tried again. The pain of that financial loss for our friend was hard to accept so we both returned to the E quadrant. It wasn't until I was laid off from my job this spring that we decided it was time to take action again.
Robert, your Rich Dad World had everything to do with that decision. We realized that because of our ages and the crappy job market we would have to take our future into our own hands. Your Rich Dad World programs helped us to make that decision.
So now, we are starting again in the real estate business because we know now that investing for cashflow is the only way we will attain our goals. And we are doing this through your Rich Dad World information and your coaching program. We're excited to get started again.
Dear Robert
It is a great pleasure knowing someone like you and having opportunity to learn from you. my grand father use to tell us that if you learn something from someone's experience that you steal it, that stealing is the best, that something don't need to happen to you before you learn. I have learn a great deal from you, expecially, we do not need to loose momentum when the going became tough. I have had my ups and downs and right now i m experiencing the greatest challenges in my business. each passing day gives me joy to continue to fight. I do hope that if i dont loose my momentum i will succeed. Broadway will only give up to those who refused to be knocked down by her.
My father crashed in a helicopter back in 1970's. There were 2 survivors. One was my father. He did not fly in anything again until 2008. Fear is a powerful non-motivator if you let it rattle around in your head.
On my first deal I am currently stalled because lending rules keep changing before I can get an unseasoned refinance. My HML is understanding and extending the loan instead of taking the property with his quit claim deed. Soon I will be able to do a seasoned refinance if the special lenders can't do the unseasoned. It's a possible cause for lost momentum but I'm not falling for it. I have to many people in my family I am teaching and will be teaching to stop now!
It was a great first deal! No money down, wholesale with rehab arranged and finished in less than a month and lease optioned immediately. Bringing in $4,000 at close and near $300 CF per month. Next I want multi-units up to 4. This is so much fun!
I was very lucky to find a fantastic team to work with. They stand by me. When this loan is refinanced I will be doing another deal with them.
I was really impressed by the courage shown by you to shake the dust off and get back up. We can die 1000 deaths in our mind but in reality only once. I have found that momentum is contagious. If you surround yourself with others who are taking action, that have been knocked down and gotten back up, if you have a coach or friend that is willing to push you, there will be no time to sit around and think about what if, or I woulda, or I coulda, or I shoulda.
I remember reading a story about Arnold Schwarznegger when he was competing for the Mr. Olympia title and he found out that his father had died or was about to die back in Austria. He said that he could have left the competition and gone back to see his father buried but that would not bring his father back. He was in the middle of this competition and did not want to lose his momentum or his focus by this tragic event happening in his life.
Maybe this is extreme but maybe not considering the success he has had in his life and the influence he has had on others.
Thank you for your teaching and examples that we can learn from and to teach others about.
What struck me the most was hearing how big winners still feel the hit, but get themselves back in the game quickly. I also need to hear how to ask the right questions, what they sound like and see the great examples Robert has given.
I have lost momentum in the past due mostly to forgetting my dream in the face of setbacks or failures (experience) and sitting around for a week feeling sorry for myself. I only recover after a full day of revisiting my dreams and the plans I put in place to achieve them. When I feel the fear that comes from wallowing too long I have to force myself to take just that one small step that puts me in a position where I have to keep going. It's getting into the car and driving toward the sales call, then getting out of the car and walking into the office. Once in the office I walk up the receptionist and I'm stuck, I have to say something or I'll look stupid. Even if that call turns out to be experience, I keep momentum by making notes about what I learned and making plans for the next call.
O.k. I get stuck in "analysis paralysis". I get nervous about dealing with other people, think and think and think it through and I get afraid to make a mistake and what will other real estate agents and escrow officers.... will think when I make a mistake? Like I am supposed to know it all.
This article you shared has soooooo made a difference in my thinking about "what if I make a mistake" in front of everyone - as if no one else has made any mistakes, right? I am sure they all have. I am sure they all will. Why am I not supposed to make any mistakes?
Also, I have backed off on the real estate investing because I wanted my license so as to accumulate that level of knowledge and to maximize profits as we got into real estate investing. I also take care of my husband's grandmother, who chose (seriously on purpose chose) to be a full fledged invalid. Due to the down economy, can't just move her in to a facility, so I am homebound until I can get things changed.
Therefore, I am studying options trading with WIA. Also, studying Van Tharp's Peak Performance training so as to do the best I can do in options trading.
I really cannot tell you how much this posting has "woken up" my thinking! DON'T GIVE UP, is another reminder - yet again.
I have also been afraid of my husband's reaction of what if? Well, isn't that FEAR = false evidence appearing real? Wow!! We tend to FEAR what never comes to fruition and we "get through" what ACTUALLY does.
Thank you, Robert, for caring about "people". If you didn't, you would not be doing this. Again, you and Kim are my heroes!! That just means you are my examples to follow. Thank you!
Actually, I'm in Story #2 right now but my issue isn't business failure - quite the opposite. My issue is that my 20 year partner and I built our business on a personal relationship/friendship that has now ended leaving me with no momentum but still in business with him. As a woman I psychologically built the business on the foundation of "we" and now find myself, alone, struggling in the transition of "I" as we remain business partners. The personal crisis that this has created in the face of "doing business" is both painful and eye opening. I wonder if this has happened to anyone else? Clearly, this is why interpersonal relationships in business can be tough! Anyone else have this happen? If so, what did you do when everything says run and you have a solid business operating at the same time?
First of all, special thanks to you Robert for the book an the learnings from others like rich dad, pour dad!!!!!
About the posting, guess some different lessons I see in the postng
1) FEAR:
As I read the crashing experiences I remember my self in many adventure sports and about buying stocks.
I tended (and frequently still) to fear failure and its consequences, giving too much importance to the possible bad outcome (crash or loss). At the end when I fell, crashed or lossed it was not more than that. A hit. Experiencing failure in perspective gave me experience and took most of the fear, allowing me to go further. Objective evaluation of risks, the chances and acting on them is a great tool to take most of it away.
2) BEING AWAKE:
Being able to sufvive the hits does not mean you should receive them by handfulls all the time. Not being scared does not mean you should not be awake and conscient of what's going on, not loosing opportunities nor not reading in between the lines. Being really conscient of the situation is key
3)MOMENTUM:
I believe keeping momentum has much to do with keeping your focus, keeping the important things present and maintaining your determination and discipline to do what needs to be done. About being unreasonable about not quiting. This gets you much further than just keep on going.
Again, Thanks Robert for sharing the book and learning experiences!!!!
This story of keeping your momentum is a great reminder for me this morning as I read it. My husband and I are 5 years new into the real estate investment scene and looking to refinance one of our properties to increase the cash flow. Yesterday we were turned down for a refi only because we had put that property on the market within the last 6 months in an attempt to sell. We were not aware that there is a 6 month waiting period. It is easy to get distracted by the negative and become paralyzed. Today I have the encouragement from this story to research this further and call some more lenders to see what we can do about getting this property refinanced.
On another note, when I was 16, my mother passed away and two years later, my father decided to not consider me as his daughter. Those were tough times for me. Though I still struggle with self esteem issues, I am where I am today because I push forward and seek new answers to who I am as a person and my purpose in life. I surround myself with people who cheer me on and give me constructive criticism. I refuse to let my father's voice ring in my head about how I am not deserving and look to the positive. Today I have a wonderful husband who loves me and two beautiful daughters who want to be just like me. Reading this online book has both confirmed concepts which I have learned over the years and has also given me new insights which I have never considered before.
I sold my business two years ago at the age of 41. I was exhausted after 20 years of hard work and decided to take two years off and purchased a farm. The problem is now I all my old clients have moved on and a new generation of people have emerged and Bill Levitt's story is one i want to avoid. So i'm trying to get new momentum going with my farm business.
- The main income is from fresh produce ( the last two years drought has reduced yield by 50%)
- Looking at selling timber from the property
- starting a hunting business ( deer )
- accomadation for holiday travellers
- selling spring drinking water
I remember Mr Trump telling that story of Bill Levitt when he and the Kiyosaki's came to Dallas a few years ago. It was winter and there had been a storm that had laid ice on the streets the morning that Robert was to speak. My wife and I decided no to risk driving on the ice until the sun came out later that day. We missed Robert speaking. We heard Donald Trump and we got to hear Kim Kiyosaki but that one loss of Robert's speech never went away.
It was a good lesson. We have not missed a chance to 'put on our tuxedos' since.
When you learn these lessons, life gets better.
In your first story, your point about the questions was surprising to me, because when I just started back to school the instructor said that we are only as good as the questions we ask. I know how you feel about the education system; however, I have learned a tremendous amount just as I have learned from your products. The biggest thing is I learned to learn.
In your second story, keeping your momentum I am retired from the military and the biggest thing I have been trying to avoid is losing my momentum. I have been reinventing myself, and it has not been easy. Thank you for story number two, it’s very inspirational. My momentum has been lost, because I have to start over in a new industry and finding that one thing inside to motivate me. Security was the reason behind me staying in the service as long as I did, but change was my motive in getting out. I have changed the way I look at life in many different aspects, “trying to see both sides of the coin”. So my challenge now is to build that momentum and start again. How am I doing this, by educating myself in all different kinds areas, then choose one direction to take. My philosophy to problems are try one approach to solve a problem, and if it doesn’t solve the problem, just keep trying different approaches until you find the one that works. I am in the middle trying a lot of different approaches.
"When I lost my nylon wallet business I was deeply IN debt"... missing the word 'in'
I like the section very much. Though it reiterates points made very often, it bears repeating and it makes people realize that it is important
Many years ago there was a summertime commercial about hot perspiring people taking a sip of tea, closing their eyes and falling backwards with a splash into a cool blue pool. There was some sort of tag line about "Take the Nestea plunge". I've bought 30 duplexes in the last 8 years and before each one friends warned "Its too much" or "Its cheap but really a dump" or "you cant get financing." I got one last week that was $220k a year ago and 1 block from 1/2 mil to 1 mil homes, but now vacant, bank-owned and had the A/C and copper stolen so "couldnt" be financed. I studied every angle then practically stole it for 65k. Why didnt 50 other people get it? I guess I have a habit of thinking, closing eyes, and taking that plunge. The momentum is sort of automatic. Oh, this place has a pool.
The main things in the story that impacted me was that you should never give up, lose your momentum or retire. Always STAY CURRENT. QUALITY LIFE IS LIFE WITH PURPOSE SO NEVER RETIRE. purpose so never retire. It is okay maybe to go into a different field or try something that else that you always wanted to try but stick with what works and be watchful. If it is no longer working tweak it and change what needs to be changed to stay in the game. Don't get stuck in a routine and not be willing to change if the change will bring about improvement. If you enjoy what you are doing and your are successful at it continue with it, retirement is overrated, you need purpose in your life. It is okay to delegate some of your responsibilities but never totally retire.
After graduating college in 2005 - I was full of beans and ready to take on the world. When I returned to Australia, I noticed my best friend had bought a property a year earlier, that was now worth $100,000 more than he paid for it.
I congratulated him profusedly, but I was secretly insanely jealous. For a long time I complained to myself, my friend and everybody who would listen - "I wish I never went to college" "I should have entered the market sooner" "I wish, I wish, I wish".
After about a year, I realised something very sobering. Complaining for that whole year, did not make me any money. It didn't matter how many people listened, or didn't listen, or the different, creative ways I tried to complain - I had lost the zest and momentum of graduating from college. I didn't have the desire and the dreams and fuel to push me anymore. I just had my complaints.
My complaints didn't teach me anything new. They just fueled more useless thinking.
This quickly sprang me into action. Realising action - not complaining - gets results, I bought my first rental. After a few months, I bought another. After 9 months, I had bought 4 rental properties. I had 4 successes, and about 4 hundred failures in that time. I learned a lot more from the failures, and I realised there was no reason to lose momentum, or stop and think for a great deal of time.
If I bought something and succeeded - I made money. If I bought something and failed - I learned something new and fantastic. If I stopped, and took an extended break - I lost momentum and had to build it all up again. There was nothing gained by stopping.
The thought that most people think and worry too much has struck home. I know that's what I do, and have done, all my life. I was trained to do it, by well-intentioned, but very cautious, teachers and family members. Instead of looking for ways to make things happen, they taught me to fret about how things might go wrong. I got stuck in that mode. Not any more. It's no fun, and it doesn't work. Everyone fails, but when you fall down, and figure out why, the next step is to get back up.
Momentum
I have been currently in analysis paralysis.My second business investment in transport business of car hire collapsed last year when I was out of my counntry to commission a project for three months.My wife did not do collection of payments for the three months.The people running the vehicles did not service them yet they lied to her that they were servicing.By the time i came back three cars had crahsed,two had engine knock due to lack of service,80% of the clients did not pay.Some of the clients had managed to change the standard contracts to favor them.I was devastated.
I sold all the remaining and purchased land early this year.I'm being offered 30% higher price but have been stuck in the paralysis analysis.
Today I made up my mind.I will sell and move on to soource for another investment
The overall story line of #2 was a much needed reminder of keeping the momentum going and a lesson I know well. Seeing it in print gives me the story to share with my boys. You have no idea how much this is being instilled in my 11 year old son. Just having kids keeps my momentum going. However I did lose my first business at 23. One my father would not loan me the money to start. He wanted me to stay with the company I was working for because of its benefits. I did come up with the money on my own. I learned so so much from that experience. I also lost(divorce) my first husband before I started that business,( that gave me even more momentum) so I count that as having lost 2. The third business was not completely mine, just the idea that got it going and it needed more then me to stay afloat. Needless to say it's gone and it was the most fun yet.Giving me more momentum. Time-out. Becoming a wife again, and full time wife and mother at age 37. Building the momentum with a family now, building theirs as well as my own. At age 53. My boys are now 16 and 11. That is where The Rich Dad comes in as a blueprint. We are on a roll. THANKS!
I have been and am in the sitting back, loser woe is me attitude. This has been another push for me to get up and do something and keep momentum. Thanks for the nudge. I seem to get it daily with the Rich Dad reading and etc.
My first business crashed in 1997, with over $160,000.00 in debt. I don't think that I lost my momentum as much as my self confidence was shaken, partly due to the "I told you so" crowd in my famiy. The debt was primarily owed to family members. I have started two other businesses since then without debt and have spent the last 5 years cleaning up the last of the debt from the first business.
"Never give in. Never give in. Never, never, never..."
Thanks for the inspiring words in Conspiracy of the Rich.
--Mike
good evening to everyone, after reading the story 2 in "don't lose your momentum" it all flashback into me when I was working as salesman of a milk product. I was reassigned in a different area & didn't hit the quota the first month on our area so I kept thinking on how to hit the next months' quota. I felt nervous of thingking my manager would see me as incapable of the work but I'm always thinking on "How to use dissatisfaction to work in my favor" as Napoleon Hill has said on Think & Grow Rich. I use it and gained momentum I hit the target on three consecutive months. After gaining the momentum I was over confident thinking that we could hit next month. It was third week of the month and we were bahind the daily to date target. I was too sloppy because of my over confidence gained from the previous months. I again felt nervous the weekend thinking that we may not hit the months' target within the last week. But I was determined to hit it and moved on we worked hard on daily to achieve and fill up the losses behind our sales. It was on the last working days that we made the sale to hit the target. We hit it and achieve 102% versus quota I was so glad that we made it and I never stopped since then - always letting my guards up. Gladly we hit our monthly sales on six consecutive months and I was promoted. I almost lost my momentum but I did not give up and worked as hard as I can leading my team to hit our goals - I regained my momentum.
Thank you Robert and Donald for this awakening story we don't have to lose our momentum.
Thanks for the Vietnam stories. As a "career" AF officer and fighter pilot, I deeply respect the part of your life you spent serving our country-thank you. I always appreciate when folks tell me that, too.
Setbacks/loss of momentum have occurred in one form or the other for me, just like anyone else. One of my loss of momentum times was when my previous wife decided to leave- even though I thought I was doing everything "right". I felt like we were sailing freely, money was flowing, we had bought and sold a house for profit, our 401k's, IRA's, and spending accounts were all maxed and flowing. We had no CC debt. Two cars were paid off. I felt like the wind was gone from my sails for several weeks following her leaving. In hindsight, all that feeling was for me was grief- the same grief feeling I felt when a couple of fellow fighter pilots had died in the line of duty-doing what they loved. The world, however, does not cease - the sun will rise in the east.
In the re-definition of myself, I found out some great things- and am now very happily re-married. One of the neat things about life is God has given us absolute abundance in everything (I think Retire Rich talks about this at the end). It is very, very true- wealth and prosperity are a mindset, and there is an infinite amount of dollars, real estate, or whatever you choose- so long as you choose and are able to see it. Same is true for love, happiness, material things, etc- obviously the list goes on.
Momentum is awesome - I got my mojo on!!
Yes, I have lost several momentum moments because of arrogance.
In the same way, I regained my momentum becauase of arrogance. - I just kept at it because I couldnt accept certain chalenges getting the best of me.
Sometimes a total contradiction, but I have learned to be less arrogant when it hurts me head on. From my experience, over confidence can always hurt you. That is the wrong kind of arrogance.
Yes, I have a recovered. But I am still obviously a work in progress.
Don't give up. Thank you for the reminder. The examples you offered were great - concrete. I find my momentum gets knock by the culture and community around me thought I do chose friends carefully. At times I feel like a hermit as I don't want to be exposed to the negativity to keep my momentum. How do you balance this? Don't give up!!
Hi Robert,
Let me start out by thanking you for all the things that you have been doing over the years to bring reality to what it takes be successful.
There are days that things seem so tough that when you look left and right there are no answers. Based on this chapter 2, I see now that whenever you I see myself or feel that I are loosing momentum to plug into informative information like this that would give me similar story to my situation and make me think differently again.
It is true, you become who you hang around and spend your time with and they definitely drain you with their depressing stories. By hanging out here, it definitely assist me in getting focused and getting out there to get the job done.
Thanks for the opportunity to read the new works of Robert Kiyosaki. I am motivated more and more each time I read these. At the moment I am stuck in analysis paralysis. I am reading, but not moving. I have to find funding and I need to find out where to look. I don't have connections yet, but I am positive once I get that funding, there is no stopping me!
Any suggestions?
i struggle with this all the time! just a slow paced country girl trying to get into fast paced RE investing. gotta keep on going! thank you for this story. won't quit, won't give up.
Losing momentum or in my case analysis paralysis. Reading this article has made me realise I actually haven't learnt the right questions. I have a mine full of 'What if's and what will other people think. So from hence forth I am changing the questions. The first being "What do I have to know about raising money?" Thank you so much. I have actually learnt more in reading the chapters to your new book than I have in a very long time. Now to take action and build momentum.
Susie.
Welcome to all insiders,
I lost my communication momentum (described in my B&I triangle) while I was an employee and I've caught up with it since I quit (whereas I'm young, web 2.0 and social technology ... were a mystery)
Hope to share real experiences !
Feel free to "mail" me (mail icon). I answer asap.
Phil
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From chapter 12
I was educated in 2 different countries,
it means 2 different teachers' teams
Even if I was teaching technical engineering, at the same time,
I decided to attend financial course in another language for free.
Some of my friends told me I was a crazy guy.
Anyway, this experience helped me a lot.
Hope this helps.
Phil
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From chapter 11
While learning, I've changed :
- the way I manage a team
- the way I choose a mission
- the way I manage myself
- the way I handle legal systems
- the way I communicate
Let's decide the way I'll cement over my assets.
Phil
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From chapter 10
My example :
I practiced sports (national championship),
I was educated as a building engineer,
I started as a junior market manager,
I changed for a product manager position,
I then asked to become a salesman.
Cement is what I expect to find as well as bricks.
Phil
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The part of the story where Bill Levitt tried to get back in the game by just buying back what he sold previously for millions and then losing it all. He assumed he could have picked up where he left off years earlier. Instead, he could have used those same millions to find new opportunities that were appropriate for the times.
Currently, I am at a standstill in my momentum. I own 7 properties including the one I live in. I bought one property every year from 2003 to 2007. Ever since I bought my current home, which I wish I had waited, I am at a standstill when it comes to real estate investing. I'm just treading water as I see my equity slowly evaporate.
I actually try to find things I am interested in to do, which I guess in order to stay in the context, I just sober up from my misery and start looking for another stock.
I lost 20% 7 days ago. I could have seen the crash of my stock coming, but I didn't. I didn't see if coming because I was too confident and ignorant.
At least the amount was only about a Xbox. I can survive that.
Cheers.