Fear of failure and losing money

Kamusta na?

 

While we were playing Pool (Pinoy’s Billiard) my friend asked me, “Anu kaya ang magandang bisnes o franchise ngayon”?

It was the time that Robinsons mall will be opening soon near in our community.

I asked him, what are the things that you are passionate about such as food, clothing or others?

He said, I don’t know. As long as it’s a sure win business and it won’t lose my hard earned money.

I told him, “my friend it is much better for you keep your money and don’t pursue it”.

I suggest you to invest in your mindset first and buy books or attend seminar about building a business.

One of the reasons that you will lose money is when you don’t understand what you are going into.

When you are planning to venture into an investment or a business, you have to overcome these two big factors which stop you from starting out:

  • Fear of failure
  • Losing money or capital

The best advice that I ever got was “you have to ask yourself what is the worst thing that can happen if you will do it”?

Think about it.

If this won’t kill you, then pursue it. Just kidding!

Seriously, you have to really think long and hard to overcome it.

You can start small or conceptualize your idea in the market.

Invest the money that you can only afford to lose.

Failures and making mistakes are part of the process and you just have to learn from it.

For me, the capital that maybe lost is only the tuition fee to the “school of failures”.

In the end, experience and taking action are the key to success and getting ahead from the others.

In traditional school, we were conditioned that failures and making mistakes are bad. You will be punished if you made mistakes or failed in exams.

However, in real world it’s a good thing and you just have to learn from it for you to succeed. The more failures you made and learned from it, the more you will be successful towards your goals.

Tony Robbins says that success is 80% psychology and 20% strategy.

You have to focus on developing your mindset, emotion and belief. It will help you overcome any challenges and roadblocks that you may encounter along the way.

The strategies or the How-To’s will be much easier.

 

To your financial success,

Marvin Basa

About The Author

Marvin Basa

Marvin Basa is a financial literacy advocate who helps Pinoys to have successful financial lives.

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