Don't Let the Herd Mentality Get You Down
Submitted by Jeremy Palmer on Wed, 10/01/2008 - 20:54.
If you've been watching the news, or reading newspapers lately, you're probably feeling a little depressed.
It's easy to get caught up in the drama on Wall Street and Capital Hill. While it's important to be aware of what's going on, you don't want to let it take you off track.
Success and failure are opposite sides of the same coin - mindset. I started my affiliate business in less than ideal conditions. The economy sucked, I had bad credit, and was making $36,000/year. I didn't let those obstacles get in the way of my goals.
So, if you think the sky is falling and that there's no way for you to succeed in this economic climate you're right.
If you think there is opportunity to grow your business and achieve your most important goals you're right.
Don't follow the herd! Chart your own path to success. Believe in yourself and take control of your own destiny.
Great post Jeremy! My wife went to the grocery store the day the stock market went down 777 points and it was packed with people, we assumed freaking out about the economy. It's amazing how pervasive herd mentality can be and that it alone can cause things to be even worse! It's one reason why I've pretty much stopped watching the news - just enough to know what's going on, but not getting too involved in it.
I totally agree. I actually see this as a huge opportunity to succeed in different ways. I read somewhere (cnn.com I think?) that most of the successful tech companies today started out within months after 9/11. Not to mention the mega billionaire investor Warren Buffet made his money when expectations in the economy was low because he was able to buy stocks at discounted prices. So for anyone feeling down and worried, just keep your head up and think long term! The market will fix itself eventually.
Just like Jim Edwards recent post in his blog, "You get what you want!", if you think you won't success in these bad environment, you won't!
I you think the economy is bad, but you want to success even in this kind of bad weather, you still will still "Success", eventually!
Cheer up guys! The money is in the "Risk"... To everyone success!
Thanks Jeremy. That was very motivating! Look forward to watching these new videos.
Regardless of the state of the economy, people will always be interested in improving their health, wealth and relationships.
Thanks Jeremy,
You are right. This is the attitude and perception on life that we should hold at this time. It is the reality of many people, but does not have to be our reality. It is about what we can do, and can do the best in this situation. In Cameron Johnson's "You call the Shots", he described his internet business during the dot com bubble. He was doing well even post-bubble.
Many had ridden through 1997 Asia financial crisis. I was right in the middle of stockbroking industry. I saw how devaluation of assets (then was stocks and margin financing loans, now is property value, loan value and stocks) destroyed balance sheets, how liquidity just dried up and every banks stood still due to mere fear or loss of confidence. Due to the nature of financial system, regulatory methods & accounting reporting system, crisis unfold in stages. We are probably still not reaching the bottom yet, but the important things I learned through those trying time were:
a. that opportunities always available just around the corner (there were stories back then how a person got financial freedom on the recovery of market in 1999-2000)
b. sensible business model will ride through the hard time
c. don't loss sleep over the crisis. It seriousness sometime depends on our reactions.
d. despite the brutal facts, at the end we shall prevail
After the Asia financial crisis, my wife and I got rid of our home loan as quickly as possible. We don't want to owe bank anything. This round, even if it spreads to the other part of the world, we are more ready than 10 years ago.
Jeremy,
This has been the cornerstone thinking that has already begun to effect HUGE changes on my life. I have been a science and mathematics person, and still am. In this world, things are often concrete. In Physics the Natural Law states that for every action there is an equal and oposite reaction. Further, physics establishes that Energy is never destroyed, just changed.
I think these laws apply to other faucets of life and the world too.
The world is bursting at the seems with Energy and change. How we choose to work within and adjust to these changes and how we choose to react to the Energy produced by these changes will ultimately determine the direction and placement of ourselves within this world.
If one chooses to focus on adversity and reflect on the negative changes that we see in the world then it is pretty hard to see and experience anything else.
However, if we view these changes/events objectively, we can find the benifits and oportunities within and really thrive. My heart goes out to those that are lossing everything, in the US and around the world. It is very sad. However, My mind sees a world that is more FULL of oportunity, promise and good than it may have ever been before.
Cheers,
Jeromy
Every adversity, every failure, every heartache carries with it the seed on an equal or greater benefit.
Napoleon Hill
I'm not going to worry unless martial law is declared and they shut down the Internet. A somewhat unlikely scenario I think.