Investment/entrepeneur psychology resources

Discussion in 'Investor Psychology' started by bob shovel, 31st May, 2015.

  1. bob shovel

    bob shovel Muppet

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    Gday all

    Ok. im a newb when it comes to the psychology side of business, investing, life. I used to think that the motivational speakers and posters were just spruikers and a bit of willywaggle. I never really appreciated the power behind it all!

    A lot of posts and comments on SS are about the mindset and the goals rather than a properties colour scheme. My first step was realising with property its numbers game (a while a go) but moving forward and being successful its about the mental side.

    What is the best way to jump in and start reading and learning more??

    I have found a few pages on FB that come up daily and im getting hooked! watching videos most days and they are really resonating with me

    After talking to a mate who i havent seen for quite a few years, we got talking about the mindset of investing - which probably shocked him more than me, he would have expected more cowboy stuff from me! but he is doing well in the uk recently starting up a food product and also part owner of a cafe, With plans to get into property. He put me onto the "4 hour work week" book as he thinks its suits what we are doing at the moment. He also reads loads of other books and websites.

    What are some favourite resources people use here to build knowledge??

    Couple of cool vids i have seen so far:
    Mike Rowe: Curiosity Is Key to Success
    http://www.entrepreneur.com/video/245051

    15 Signs You're an Entrepreneur
    http://www.entrepreneur.com/article/235378

    I know Grant cardone is Ace's favourite and watched a bit of his stuff.
     
  2. Nick Valsamis

    Nick Valsamis Vantedge

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    You can get a lot of content on youtube, which is my main source plus various websites.
    I've seen the video with Mike Rowe since I follow Entrepreneur on youtube. He offers a unique view which many people don't even think about.

    With websites, I would recommend you get onto www.addicted2success.com
    Lots of great articles on there and the creator of the site is Aussie too!

    This is a great article I read on there recently which you should read.
    http://www.addicted2success.com/ent...sons-you-can-learn-from-a-millionaire-trader/

    For general sales and business stuff I like Grant Cardone.

    For self development and various stuff I watch Brendon Burchard and Tai Lopez.
    https://www.youtube.com/user/BrendonBurchard
    https://www.youtube.com/user/tailopezofficial

    This guy Jaret Grossman does daily videos with great content. I've been listening to all of them since number 1. You can learn so much. I even listen to the audio of them in my car.
    https://www.youtube.com/user/MuscleProdigyTV/videos

    You can never stop learning and becoming better in many areas of life.
    All of this amazing content opens your mind to many things and really changes your outlook.

    The best thing anyone can do.
     
  3. Ace in the Hole

    Ace in the Hole Don't compete, Dominate !

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    Hey Bobby,

    Good to see you want to work on your mindset.
    I'd suggest learning Jim Rohn's material.
    He passed away not too long ago, but his material will last forever !

    Ace
     
  4. keithj

    keithj Member

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  5. The Falcon

    The Falcon Member

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    Pick up Carol Dwecks book "mindset". As for the pump up stuff, can't go past the old timer Zig Zigler (YouTube and podcasts) a contemporary of Jim Rohn who Ace recommended who has also passed on.

    Other stuff that should be of interest to investors ;

    Robert Cialdini, the psychology of persuasion
    Guy Spiers, the education of a value investor
    Charlie Munger, the psychology of human misjudgement talk https://m.youtube.com/watch?v=pqzcCfUglws
     
  6. LeoT

    LeoT Member

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    I second what Ace said. Jim Rohn is a giant in mindset development. Also Les Brown. If you focus on those two you will be waaaaay ahead of the game.

    I still cant understand how so many investors only address 30% of a 100% challenge and expect amazing results.

    Good on you Bob!

    Leo
     
  7. Rolf Latham

    Rolf Latham Member

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    We call it the expectation vs commitment gap...........and spend huge amounts of time and effort to make sure that peops internalise the longest way to a goal is "the shortcut"

    Ta
    Rolf
     
  8. Deltaberry

    Deltaberry Member

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    Best way to learn is to go out and do it. Get some skin in the game
     
  9. LeoT

    LeoT Member

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    Hi Rolf,

    Couldn't agree more with you mate. Its really a shame.

    Leo
     
  10. LeoT

    LeoT Member

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    HI DeltaBerry,

    I agree with you. I think getting out there to do it is a 'good' way but when you couple that with mindset development and developing solid property investment fundamentals, then your on to the best way. This is just my personal opinion, but I agree with you, getting out there and having a go is important.

    Leo
     
  11. Rixter

    Rixter $uper Investor (Retired)

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    I agree, getting out there attaining the hands on practical experience is where the real learning is done. Your mindset is the precursor to keeping you out there though.
     
  12. LeoT

    LeoT Member

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    Exactly. Well said.

    Leo
     
  13. Investig8

    Investig8 Member

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    I do agree, also with a certain amount of research and knowledge in all areas, be it, property and business you can mitigate a great deal of risk.
     
  14. Xenia IM

    Xenia IM Property Manager

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    Well done
    If you don't get to know yourself and understand why you are wired to do things then everything you do will seem random - it never is.

    You will not understand why you lost that money, that relationship, why you got sick and you will keep attracting the same drama over and over until you wake up and just "get it"

    It's a life long commitment and there really isn't a ceiling to understanding mindset! The more you know, the more there is to know!
     
  15. bob shovel

    bob shovel Muppet

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    Deltaberry. I agree but I'm looking for specific resources as the others have mentioned. If your stuck at that notion you could also benefit from the links to further yourself. I have no problem getting my hands dirty and do have some experience and appreciation of the investing game but this area i want to know more and start taste testing the gurus out there to better myself. It is no way replacing hard work, id anything push me more as others mentioned

    Thanks heaps for all links everyone, I'll be busy tonight reading and watching! Looking forward to it
     
  16. LeoT

    LeoT Member

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  17. bob shovel

    bob shovel Muppet

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    Another quickie..what about kids books?? Or am i going to far?
    I'll look art the links and pass on the knowledge
     
  18. bob shovel

    bob shovel Muppet

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    Slowly getting through links, bookmarking stuff, adding books to watchlists, got 10 tabs open and you tube playing!:cool:

    Jim Rohn what a dude!!
    This one is short and sweet - 3 mins for the data conscious;)

    Jim Rohn - Walk away from the 90 percent
    https://youtu.be/bdaPVoG2qAE

    These speakers, are they entrepreneurs who have made their fortune and then gone into public speaking? Like the property world equivalent of your nathan birchs, yardney, cherie barber. who have gone from investing to business providing services and mentoring.

    They are awesome talkers! Les Brown "You take on the responsibility for making your dream a reality"

    Cant believe I only just woke up to this now!
    And as for info for the kids I have found one book online withthe same concepts. I'll get to the that in a bit. Kids are a funny species and Jim Rohn's quote "make plans like and adult and believe in them like a child"
    We have been working hard to do things different to what our parents did back in the day (they did a good job:D) but really listening to them and pretty much treating them as an equal human! it has caused some interesting discussions with the grandparents! best was telling them we didnt want them to say "no", sounds odd. but when you say no its usually because something is dangerous or shouldnt be done, we want to explain the reason behind not doing something.... just realised the mrs is ahead of me on this stuff already! That was her research and books. Also no smacking instead talking and us understanding why they are losing their bananas, most of the time it comes back to the way the day has gone, eg dragging them all over town and are exhausted and just got the $hits!

    Little event today with the 3 year old, i hung out a towel in the sun and there was steam coming off it, i pointed it out and was ready to explain but before i said anything else she looked and said "why is that?" with genuine interest, bit of a milestone leap i guess but obviously it was something different and she wanted to know more. :D she is always curious but something just clicked with me.

    Anyway back to it... thanks again!

    Just saw on FB les brown is on the gold coast doing some talks! Also talking to REA agents. anyone seeing him?
     
    Last edited: 1st Jun, 2015
  19. willair

    willair xx

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  20. charttv

    charttv use sunscreen

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    I second this, many of the others are just fluff.