BIG Results Formula

I just had a meeting for the release of the book I am co-authoring with Kevin Harrington, the original shark from ABC's show SHARK TANK. I am forever grateful to be surrounded by such great coaches (intentionally so) AND I am always excited to learn from them. Kevin was able to share some great advice!

It’s encapsulated in the formula for BIG RESULTS.

BIG (FAST) RESULTS = FAST DECISIONS + FAST ACTION

Here’s what gets in the way:

#3. You make decisions from your present (or worse, past) self.

If you want BIG results, you must make decisions from your FUTURE self.  

What decision does your future self want you to make today?

#2 You focus on the cost. 

If you want BIG results, you must make decisions by looking at the PAYOFF (never the cost).

#1 You want to bat 1.000 and never make a bad decision – which only fuels procrastination. Analysis paralysis. 

Death to growth. 

If you want BIG results, you must hone your decision making SKILL by being willing to bat .300. You can strike out on 7 out of 10 decisions. It also works like that with your finances, not everything is going to work out. 

We often make decisions based on FEAR that are reactionary to the market, decisions from our present or past selves.   When the market goes DOWN, we freak out and pull our money…When the market goes UP, we think WOW things are going good, dump money in….TOO LATE.

In order to grow your money, some risks must be taken, and that means not all the investments will work out.  Some will undoubtedly end in a negative return……..be willing  to bat .300

As investors, the best strategy is NOT to be reactionary, but to invest money at a steady state over a number of years. This is where you shift focus to the PAYOFF instead of the COST.  Look at your entire portfolio, over a NUMBER of years.  Your account will have ups and downs, some investment will make money, some won’t.  The PAYOFF should be that you are growing your assets slowly over time.

BIG RESULTS= fast actions = get a financial plan, save money, start as fast and early as possible in life,  Invest money over a period of time, do not sweat the small losses……and most importantly, listen to your COACH!! 

What financial decision have you been putting off?

Make it NOW!