Trader Mindset

You need two variations of your marketing message: one for individuals and high-net-worth families, and another for institutional investors and allocators. These two segments speak different languages and their concerns are very different. For example, if you launch into your pitch loaded with industry jargon to a HNW family, they won't understand a thing you're saying, whereas the allocator will. If you waver too much, you'll inadvertently end up trying to be everything to everybody. That tactic doesn't work. Learn to speak to your audience and be mindful of the subtle variations that will make you a success speaking to both segments.

Write out a short list for some of the things that you're grateful for. This is your Gratitude List and it can help you feel a little bit better about things when you think nothing is going right. You can try this just when you think you're gas tank is empty and you don't know where your next source of motivation might come from. Do everything you can to remain persistent and determined.

If you have no trading edge, where you execute your business doesn't matter.

Putting space between yourself and the market can be refreshing. You don't have to do this only when you're losing.

You can learn trading faster intellectually rather than emotionally. That's why it's easy to understand, but hard to do. Your emotions can get the best of you, stop you cold in your tracks, kill your confidence, and keep you at the level of a very knowledgable spectator.

Just like professional athletes and competitors prepare mentally for a match, so can you. In fact, you have to. You can't just wing it. Intentions equal results. Put it in your mind that you are going to achieve your goals then go and do it.

Here's a great example of how to combine your passion for one area of your life that can potentially benefit your business.

Michael Martin discusses how you can get potential clients to come to you.

People do business with people they like - so be likable. If you're a fly fishing nut and know all the best spots to fish, you can find like-minded people to cohort with by joining a group or association that is passionate about fly fishing. Or even better, you can start a weekenders fly fishing getaway for which you are the guide. Successful businessmen like to fish and be outdoors, so it's a good group to affiliate with. They have the success, the business acumen, and the capital to risk to either back your company or become clients.