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Six destructive habits that could be holding you back

We’re having a ‘Michael Yardney binge’ today. Here’s another article from our great property mate.

I’ll hand it over to Michael now…

I am a big fan of habits. Good ones that is. Of course, not all habits are productive ones.

Some are bad for us, they stop us from succeeding, and they reinforce negative patterns that we’ve picked up from parents, friends or colleagues. No one is perfect, but I’ve found that the most successful people find ways to replace their bad habits with good ones.

A successful career, after all, is really just a series of good habits put into action over and over again. But in order to eliminate our vices and form productive habits, we need to identify our destructive ones.

Here is my checklist of some of the all-time bad habits.

 

  1. THINKING THE WORLD OWES YOU A FAVOUR

 

I can’t tell you how often I come across this one.

A lot of people are quick to blame others when things go wrong and they fail to take responsibility for the role they may have played in the situation. Of course, sometimes people have a run of bad luck or are treated badly, but that’s different from playing the victim all the time.

Think about your social circle, your friends and family.

 

I’m sure there is at least one person you can think of who always blames others for their bad fortune. Tiring isn’t it?

 

Fact is : there are no rich or successful victims.

 

  1. GIVING UP TOO EASILY

 

Setbacks will happen. To everyone.

 

It’s easy to look at other people’s successes and think they got an easy ride. Most of the time, they didn’t. They just didn’t let setbacks stop them.

 

Depending on how you were raised by your parents, you will either take setbacks in your stride or you will let them crush you. If you fall into the latter camp, then it’s time to try and change this “Poor Habit.” Catch yourself every time you feel defeated or when something is not going your way, and change your thinking.

 

Do not give up at the first hurdle.

 

  1. NOT GIVING UP WHEN IT’S TIME

 

A small number of people have the opposite problem to giving up too easily: they don’t know when to give up. They pore endless amounts of time, money and emotion into a project despite endless  rejections and knock-backs.

Rather than try a different approach, they continue to butt up against a wall that is not going anywhere. This kind of blind pursuit is not resilience, it’s what I would call stupidity.

 

As important as it is to chase your dreams, it’s equally important to know when to stop, to take a breath, and try something else.

 

  1. NOT BEING CURIOUS

 

Thinking you know it all and that you have nothing left to learn, is foolish.

This kind of belief system cuts you off from growing, it short-circuits the imagination and it stops you from developing new ideas. Aim to be one of those people who asks other people questions at barbecues.

 

Don’t get so stuck in your own head, and your own career, that you forget that other people are leading interesting lives and may very well have a role to play in yours, too.

Always be on the look out to learn more. It’s good for business, but it’s also good for your soul.

 

  1. NOT LOOKING AFTER YOUR HEALTH

 

Speaking of soul, it’s important unhealthy lifestyle habits are ditched. That means no burning the candle at both ends.

 

You may be busy — busier than you have ever been — but you need to find an exercise regime that suits you and one that you’ll stick to. Eat well, try and get lots of sleep, and maintain a decent level of fitness.

 

Looking after your body will help ensure you’re in good shape when life throws those inevitable curve balls at you.

 

  1. NOT LOOKING AFTER YOUR FINANCES

 

If you’ve got any bad debts, or some credit cards that are no longer serving you well, then get rid of them.

 

The ability to look after your finances is one of the best predictors of success. If you can manage your money, stick to a budget and save, it shows you have the kind of self-control and maturity that is needed to be successful in life and to see something through.

 

Many of us have one or more of these bad habits that we need to work on, but that doesn’t mean we should be complacent. Bad habits hold us back.

 

They stop us from reaching our goals and they often keep us poor, tired and unhappy.

 

Reason enough to ditch them for some good ones.

 

Guest author:

Michael Yardney is a director of Metropole Property Strategists, which creates wealth for its clients through independent, unbiased property advice and advocacy. He is a best-selling author, one of Australia’s leading experts in wealth creation through property and writes the Property Update blog. 

 

 

The key to financial freedom? Finding your mentor.

We have a special blog article for you today from guest author – Michael Yardney. Our ‘unreasonable friend’, property expert, and thought leader.

 

The key to financial freedom? Finding your mentor – by Michael Yardney

 

When we think of entrepreneurs we often think of trailblazers forging ahead on their own, someone who’s doing something different or creating something new.

 

While it’s true that in order to achieve financial freedom, you’ll have to rely on your own wits and talents, it’s also true that no one succeeds on their own.

 

If you’re going to do something difficult, something that most people would quit when things get tough, then it makes sense to seek out others who’ve been there before you. Otherwise it’s going to be a very long and lonely journey.

 

Here are some of the best reasons to find a mentor:

 

  1. THEY HAVE BEEN THERE, DONE THAT

 

There will be times when you feel that you’re on your own or that the problems you’re facing are unique to you. That’s when a mentor is extremely handy. They have been there before and they know exactly what it feels like to lose their footing. They know what to say and when to be tough and when to offer compassion.

 

This is invaluable when you stumble and feel like giving up.

 

  1. THEY CAN OFFER ADVICE

 

Many entrepreneurs and risk takers often think they have all the answers. That’s largely because they’re so self-reliant and confident, and they know that very few people work as hard as they do to get the job done.

 

But entrepreneurs need to learn when it’s OK to ask for advice.

 

Even the most talented people don’t know everything, which is where a mentor comes in. They can provide hard-won experience and wisdom. The kind of knowledge people take short courses and pay good money to access.

 

Mentors can provide you with the benefit of their hindsight and prevent you from making the same mistakes they did. Priceless!

 

  1. THEY CAN OPEN DOORS

 

A mentor can also introduce you to new people who could radically change the course of your career. So much of success on life is based on being at the right place at the right time and talking to the right person.

 

In life it’s not who you know, but who who you know knows. (And I’m not stuttering)

 

You see…there’s only so much we can control, but exposing yourself to the inner circles of the well-connected increases your chances of this happening. And you never know where an encounter at an event will lead…

 

  1. THEY CAN MAKE YOU A BETTER PERSON

 

Yep, that’s right.

 

A mentor, a good one, will challenge you. They’ll bring out the best in you by making you look at your decisions, the way you’re approaching your career and how you face failure.

 

They’ll force you to reach into untapped reservoirs of resilience and forge forward. They’ll expand your mind with their knowledge, and lead by example.

 

In this way, a good mentor is life-changing.

 

Don’t think I’m overstating it because it’s true. A truly great mentor is character building.

 

So you may be wondering how to find a good mentor?

 

Take a look around your networks and ask yourself who it is you admire. Is there someone who seems to command a lot of respect?

 

Look for someone who is always professional, doesn’t gossip about colleagues behind their back, and has integrity.

 

Experience helps, too.

 

Because the truth is: you can’t do it on your own. You have to find people to help you on your path in life, and this can be a great thing not only for your career, but for your social life as well.

After all, great friends are made in the trenches.

 

 

 

Guest author:

Michael Yardney is a director of Metropole Property Strategists, which creates wealth for its clients through independent, unbiased property advice and advocacy. He is a best-selling author, one of Australia’s leading experts in wealth creation through property and writes the Property Update blog. 

 

 

 

 

 

 

How you see the world has a significant effect on your success by Michael Yardney

I’ve asked Michael Yardney to write a special guest column today. Michael has been a friend of mine for many years and is our ‘go to’ guy when it comes to property. I’m sure you’ll find his insights powerful. Now… over to Michael.

There are, broadly speaking, two ways to see the world and these have a great influence on how successful you become.

The first is what psychologists call the “external locus of control,” and the second is the “internal locus of control.”

You see… as the world around you changes, you can either attribute success and failure to things you have control over, or to forces outside your influence.

And which orientation you choose has a huge bearing on your long-term success.

This concept dates back to the 1960s with Julian Rotter’s investigation into how people’s behaviours and attitudes affected the outcomes of their lives.

Locus of control describes what individuals perceive about the underlying main causes of events in his/her life.

Put more simply:

Are you the pilot of your life or you just a passenger?

Do you believe that your destiny is controlled by you or by external forces (such as fate, the government, your boss, the system or others)?

Here’s how Charles Duhigg—the author of the book Smarter Faster Better describes locus of control:

“Locus of control has been a major topic of study within psychology since the 1950s. Researchers have found that people with an internal locus of control tend to praise or blame themselves for success or failure, rather than assigning responsibility to things outside their influence. A student with a strong internal locus of control, for instance, will attribute good grades to hard work, rather than natural smarts. A salesman with an internal locus of control will blame a lost sale on his own lack of hustle, rather than bad fortune.

“‘Internal locus of control has been linked with academic success, higher self motivation and social maturity, lower incidences of stress and depression, and longer life span,’ a team of psychologists wrote in the journal Problems and Perspectives in Management in 2012. People with an internal locus of control tend to earn more money, have more friends, stay married longer, and report greater professional success and satisfaction”

What is an external locus of control?

Well, we all know those people.

In fact, sometimes we are those people.

Nothing is ever their fault. There is always an excuse. The world is out to get them, life is unfair.

Duhigg describes it as follows:

“…Having an external locus of control—believing that your life is primarily influenced by events outside your control—’is correlated with higher levels of stress, [often]because an individual perceives the situation as beyond his or her coping abilities,’ the team of psychologists wrote” (24).

The benefits of an Internal Locus of Control

In general, people with an internal locus of control:

  • Engage in activities that will improve their situation.
  • Emphasize striving for achievement.
  • Work hard to develop their knowledge, skills and abilities.
  • Are inquisitive, and try to figure out why things turned out the way they did.
  • Take note of information that they can use to create positive outcomes in the future.
  • Have a more participative management style.

The bottom line:

We aren’t born with an unalterable locus of control, so it is critical to keep an eye on in ourselves so we can improve the way we look at the world.

Sure, bad things happen to us.

But rather than dwelling on them, it’s better to find a useful belief about them and move on.

It’s important to remove the idea that your life is dictated by forces outside of your control.

Of course, to one degree or another, it is. But there is plenty that we can control. You can create your own luck through study, hard work and perseverance.

It’s often said that you become a blend of the five people you hang out with the most.

This is important to keep in mind. Associate with positive people who believe they are in control of their own lives. Their beliefs and energy will rub off on you. And then yours will rub off on them.

It becomes a very powerful and positive feedback loop!

 

Guest author:

Michael Yardney is a director of Metropole Property Strategists, which creates wealth for its clients through independent, unbiased property advice and advocacy. He is a best-selling author, one of Australia’s leading experts in wealth creation through property and writes the Property Update blog. 

The Markets Have Gone Mad – Gold Coast, May 29

Due to an amusing website glitch, I will be extending the Early Bird Special Offer by 1-day for our Markets Gone Mad Gold Coast function.

Almost every day, I get emails from traders, wanting to know which markets to trade at the moment. They want to know how to raid the markets… raid the profits that only professionals can locate… raid the opportunities that the inexperienced traders are walking right past…

Well, Chris Tate and I are finally ready to reveal exactly this in our ‘The Markets Have Gone Mad’ Gold Coast function.

Register now, so we can finalise numbers by clicking here: http://tradinggame.com.au/goldcoast

The feedback from the Perth function was fantastic! See the photo below.

A small group of traders, determined to refine their skills, and gain the ability to be nimble, shift their money to the hot-spots, and take advantage of every opportunity.

This is your last chance to book and receive a hefty discount: http://tradinggame.com.au/goldcoast

 

Perth seminar

A free Breakthrough event for you…

If you made a decision today to double your income or your turnover — how long would that actually take to achieve? A year? 6 months?

I have a friend who specialises in achieving these breakthroughs with his clients. His name is Rik Schnabel and he teaches NLP, Life Coaching, Speaking and Trainers Training here in Australia, that’s what he does mostly. But that’s not what he’s mostly known for. He’s affectionately known as Australia’s #1 Brain Untrainer because he’s a master at totally turning people’s minds around. He’s actually mastered turning the impossible into the possible into a science.

Rik himself back in 2004, went from $65,000 in debt to creating over half a million in just three months! How did he do it? Well let me just say that changing his mindset was just the beginning. What I think you really need to hear is this.

I’m going to give you an opportunity to work with Rik for 2 days to show you how your thinking can be shifted — and what’s more, it’s on me. I’ve already got you 2 tickets. There is no cost to you — I’m giving this to you as a Valentine’s Day gift.

To find out more details, click here.

Rik Schnabel - advert

Where to buy Louise Bedford’s Books

I don’t mind where you get my books from, as long as you get a copy, and implement the concepts as fast as you can. There are so many great spots to buy my books. To make things easier I thought I’d let you know some other locations where you can hunt them down. However, there is only one place where you’ll receive special bonuses, and that’s the shop at www.tradinggame.com.au. louise bedford trading secretsFor example, if Trading Secrets tickles your fancy, you’ll receive Trading Insights, a Special Report on Macro Patterns and an exclusive video called ‘Dive Brain-First into Profits’ for free. Unbeatable value. Inside you’ll find fascinating insights into:

  • handling a windfall profit
  • identifying clear entry and exit signals
  • understanding the psychological factors that affect trading performance
  • setting stop losses and managing money.

[Read more…]

Where to buy Louise Bedford’s eBooks

A terrific way to learn about the sharemarket is by picking up some eBooks. As technology has developed, eBooks have become incredibly popular, and they can definitely be more convenient for the tech savvy, those with space issues, or those who find that reading a physical book is rather archaic.

Just imagine – you won’t have to pack 10 books when you go on holiday. Bring the one eBook reader, and you’ll have as many books as you can devour while drinking pina coladas. Plus, most eBooks are significantly discounted, so you’ll save money as well. If you find that text is hard to read, some eBook readers let you zoom in on text and you can sometimes even get sample chapters online, so you can try before you buy.

Check out these links for some of our resources that you can get in an eBook format.

Louise Bedford – Amazon Kindle Store

Louise Bedford author profile on Amazon

Louise Bedford eBooks on the iTunes store

Louise Bedford eBooks on Bookworld.com.au 

General Advice Warning

The Trading Game Pty Ltd (ACN: 099 576 253) is an AFSL holder (Licence no: 468163). This information is correct at the time of publishing and may not be reproduced without formal permission. It is of a general nature and does not take into account your objectives, financial situation or needs. Before acting on any of the information you should consider its appropriateness, having regard to your own objectives, financial situation and needs.