“Baseball is the only field of endeavour where a man can succeed three times out of ten and be considered a good performer.”
– Ted Williams
Since it is the Olympics we thought we would stick with that genre.
What can today`s sportsmen or even musical prodigies for instance show us about skill and mindset for advantageous outcomes tell us ?
Lets define skill-noun -the ability, coming from one’s knowledge, practice, aptitude, etc., to do something well.
Which are all practical attributes for a successful investor as well.
So lets dip our olympic toes into some examples and see what we can learn.
The Mental Stage of Learning:The cognitive stage, occurs when the athlete is attempting to understand the basic tasks. The Beginners are not always aware of what they are doing wrong.
And they often are unable to correct errors.
The Associative Stage: This stage the athlete understands the fundamentals of the skill and is trying to refine their movements.Error rate diminishes and they are more aware of some of the errors.
The athlete refines what is needed to accomplish the objective of the skill regardless of the situation.
The Autonomous Stage of Learning:Becoming Second Nature and is the last of the stages in learning.
The athlete performs the skill automatically without having to focus on execution.
Fewer errors and the athletes can detect and know how to correct them.
To get through those stages, to obtain a skill, would require how many hours of training then ?
People believe that because expert performance is qualitatively different from normal performance the expert performer must be endowed with characteristics that are different from those of normal adults.
According to Malcolm Gladwell in his book “Outlier” , the magic number is 10,000 hours of practise.
And this magic number was repeated and repeated..until it became a “fact”.
The number came from The Role of Deliberate Practice in the Acquisition of Expert Performance
“…The dichotomy between characteristics that can be modified and those that cannot may not be valid when we examine the effects of over 10,000 hours of deliberate practice extended over more than a decade…”
10,000 hours is approximately 417 days. If you devote 3 hours per day it would be approximately 3333 days or a little over 9 years.
Now 10,000 hours sounds like a lot of work..but then we find this there is “nothing magical about the 10,000 figure”, as Ericsson said recently, because the best group of musicians had accumulated an average, not a total, of over 10,000 hours by the age of twenty.
So beside the mindful repetition of a skill set, what about the brain itself.
Over time, a skill becomes automatic and you don’t need to think about what you’re doing.
This is because your brain is actually strengthening itself over time as you learn that skill.
Many different events can increase a synapse’s strength when we learn new skills.
The more connections between neurons are formed, the more we learn, and the more information we retain.
Now what about mindset in sport, and out.
1/Persistence is simply the quality of always continuing to move forward. To continue regardless of setbacks. To endure until the end.
2/Positive Realism-temper your positivity with some realism.
3/Handle failure and work around it.
Who could forget this scene.
Those with a fixed mindset believe they are born with a certain amount of intelligence or talent, and these abilities cannot be improved.
Carol Dweck a professor from Stanford University took three hundred students of similar age and range of ability, and gave them a questionnaire which tested their mindset.
The group was split into two; those with a growth mindset, and those possessing a fixed mindset.
The fixed mindset group became extremely dissappointed when the problems they were given became more difficult.
But more than eighty percent of the growth mindset group maintained or improved their performance and applied strategies that helped them solve the more complex problems.
“It’s not whether you get knocked down; it’s whether you get up”.— Vince Lombardi
Now how does the mindset and training in sports, or music or whatever you can dream of relate to investing in property in Australia successfully using Ample property Solutions ?
The breakdown would be like this.
Think of all the the thousands of hours the real estate agent, the real estate broker,the property developer , the builders, the investment adviser and the accountants have put into their skill set.
Do any of us have the time to learn even one of those skills to a level of excellence ?
Of course not.
So what would the odds be of learning all of them ?
Obviously a ridiculous rhetorical question to prove a point.
Lets leave that for a second.
Now regarding finance, why don’t we use the banks money for our own long term wealth creation.
They love lending money for real estate probably more than any other form of loan.
And the reason is simple.
Its nearly a sure fire thing for them to safeguard their return.
So, when we use the the time and experience of experts involved with Ample Property Solutions, which we listed above, and we use other people`s money(the banks) we now have a simple and proven formula for success.
Other peoples time and other peoples money =Long term wealth creation at its simplest.
Let Ample property Solutions show you how we can lower your mortgage and taxes, as well as build a long term source of wealth for the future of your family.
Call us now, HERE don’t put off your future, to the future. !
“Most people give up just when they’re about to achieve success. They quit on the one yard line. They give up at the last minute of the game one foot from a winning touchdown.”
– Ross Perot