Thursday, 5 August 2010

Learning from people who never get the blues (Part 5 of 6)

[4] Perception of the asymmetry of markets: the mistaken conviction that life offers limited possibilities leads to nervousness and exaggerated concern. If you are afraid of blowing your only chance, your obsession with performance will likely sink your ship.

Judicious men know that markets are asymmetric. Those individuals maintain their serenity in times of trouble because they understand that opportunities come and go. Prices can be low today and high tomorrow. Customers modify their tastes and clients their preferences. Constant change is a source of endless possibilities for entrepreneurs.

[5] Relentless curiosity and interest in learning: when unexpected events disrupt well-constructed plans, victims tend to react with irritation and condemn loudly all persons and obstacles standing on their path. Their lamentations, however, tend to have little effect on problems, except perhaps making them worse.

On the other hand, those who approach failure with curiosity can draw invaluable lessons for the future. Innovators are individuals who have learned to view problems as questions and obstacles as delays. Opposition makes them, not angry, but wiser.

To be continued in Part 6


[Image by bigcityal under Creative Commons Attribution License. See the license terms under]