The Money Podcast If You’ve Ever Lost Money, do This…
If you've ever lost money previously or you've been burnt in the past, this episode will help you get over the fear and the baggage that's stopping you invest and limiting your success. Losing money can have some benefits for your future growth. Learnings that you can take with you along the way and apply in future ventures and investments, there’s a balanced upside to losing money.
Every time you lose money you learn a lot more about money than if you make money, and in today’s episode Rob show you how to win even when you think you've lost.
KEY TAKEAWAYS
- Any situation where you have lost money with an individual or a company ensure you write down on a piece of paper, the benefits of losing that money and what you learnt in the process. List out all of the things that were of great benefit and produced a balanced upside.
- Where you get voids where you've lost money, you can double down to get that money back. Create a new product or asset with future worth and you'll have learnt the valuable lessons of losing the money in the first place. So you learnt three ways.
- You are not a dumb business person if you invest money and it goes wrong. Mistakes are inherent in your success. The more mistakes you make and failures that you have, the more likely you are to be successful in the future.
- When you lose money by learning from the experience you can make it back with the knowledge that you acquire during the process.
- Bad decisions are just a cost of business. You can't have all of the benefits of business without the downside. However, you can offset some of these bad decisions and lost debts.
BEST MOMENTS
“It's rare to analyse when we do well. Usually, we analyse when we do badly.”
“Don't make losing money sway you too much to one extreme. Don't be too sceptical and trust but verify, but make sure you do your own research.”
“Do this exercise on people too. Learn from the bad decisions for you to win in the future.”
ABOUT THE HOST
Rob Moore is the host of the UK’s no. 1 business podcast “The Disruptive Entrepreneur,” as well as an entrepreneur, property investor, property educator, and holder of 3 world records for public speaking. He is also the author of 9 business books, 5 UK bestsellers, and the global bestseller, Life Leverage.
“If you don't risk anything, you risk everything”
CONTACT METHOD
Facebook - https://www.facebook.com/robmooreprogressive/?ref=br_rs
LinkedIn - https://uk.linkedin.com/in/robmoore1979