Mind, Method and Management
Mind, method and management are three words that can turn your vision into a reality. Mind, the mind is where it all starts… the vision, the belief and the planning. You must first make up your mind that you are going to achieve your objective. Then you need to have the proper mind-set before you can begin and successfully fulfill your objective. You must clearly see the end before you begin. You must believe you can succeed. You must plan in your mind. And you must think the thoughts that will move you in the direction you want to go and open the doors that need to be opened for you.
This poem by Henry Van Dyke provides valuable insight to how powerful our mind is:
Thoughts are Things
I hold it true that thoughts are things;
They’re endowed with bodies and breath and wings.
And we send them forth to fill
The world with good results, or ill.That which we call our secret thought
Speeds forth to earth’s remotest spot,
Leaving its blessings or its woes
Like tracks behind it as it goes.We build our future, thought by thought,
For good or ill, yet know it not.
Yet, so the universe is wrought.Thought is another name for fate;
Choose then they destiny and wait,
For love brings love, and hate brings hate.
Method, the method is the process for implementing your plan. There is a path that leads to wherever you want to go in life. Find someone who has already walked this path to achieve what you want to achieve and deconstruct the steps they took to get there. Once you’ve deconstructed the steps back to where you currently are, you’re ready to begin your journey on those same steps.
Management, the management of two key resources, your time and your money, are essential to achieving your objectives. With the steps clearly defined, the journey will require an investment in yourself of time and money. But it usually doesn’t require time and money that you don’t have; it usually just requires better management of these two precious resources.
A few years ago when Utah was suffering a terrible drought, a state official made the comment that Utah doesn’t have a water shortage problem; Utah has a water management problem. This can apply to time and money. Most people don’t have a time and money shortage problem, they have a time and money management problem. By simply watching less TV in the evenings and saving money that is otherwise spent on unnecessary depreciating consumer goods, eating out, and other frivolous spending, most people have the time and money they need to change their lives.
Let’s apply the Mind, Method and Management principles to achieve financial independence:
First, make up your mind that you want financial independence. Commit to yourself that enjoying financial independence is the better use of your the time and money. Believe that you can achieve this objective.
Now determine the method by which you will achieve this vision. Investing in the stock market should be one of the methods to achieve financial independence. To be a successful investor requires specific knowledge, investing tools, and an investing system. Stock Investor has the training, tools and system.
Finally, you will need to manage both your time and money. Always keep this saying in mind: “When you say yes to one thing, you’re saying no to another.” Constantly ask yourself if the activity you’re involved in and how you’re spending your money is saying yes or no to financial independence.
To be a successful stock investor requires time to find and analyze stocks with the best money-making potential and to manage your portfolio. The good news is that the Stock Investor tools automate much of this process and require much less time than other trading platforms.
Investing also requires money. You will need to manage your spending so that you have more money to invest. Is an expensive car with big car payments more important than financial independence? This is the type of question you will want to ask yourself every time you make a purchase. Also, when trading, you need to manage your trades so that you can maximize your profits and minimize your losses. Learning and applying proper money management rules for trading are essential to becoming a successful trader.
These three simple words, mind, method and management, contain the keys to achieving whatever it is you want to achieve in life… including financial independence.
Your Friend,
D. Scott Elder