Jim Rohn starts out with a punch in the gut. He says, “It was hard to give up the blame list. It was so comfortable blaming the government, negative relatives, the company policy, unions, wage scales, economy, interest rates, crisis and circumstances.” His mentor explained to him (paraphrased) ”that it is not what happens that determines the major part of your future. What happens – happens to us all. The key is what you do about it. We can’t change our circumstances. Start doing different things with the same circumstances. We can’t change our circumstances, but we can change ourselves.”
In my world of stock investing, the blame game is part of the territory. In this 24/7 media age, it is quite easy to watch the news and see the markets reaction in real-time. The Fed releases its minutes – instantaneous response. Jobs report announced – instant move. The President speaks immediate action. Matter of fact, the movement begins before the news as traders begin anticipating the response. With the media bull-horn on full throttle, how can an investor not get caught up in the blame game? Jim Rohn’s mentors advice applies to trading as well. Investors can’t control the circumstances only their reaction to the news. Successful trading strategies have been built around news alone.
Rohn then shifts his discussion to money. His explanation on increasing your income by increasing your value to the market place is classic. Instead of working harder on your job – work harder on yourself. By working harder on your job, you may receive a raise. However, by working harder on yourself it’s possible to make a fortune. The key to wealth is becoming more valuable to the marketplace.
I would love to hear some of the ways that you are increasing your value to the marketplace. Leave your thoughts in the comments.