COMMENTS ON MEDIA MANIA

With the US economy running on overdrive while financial panics pop up elsewhere, many fear-mongers are making predictions of impending doom. As they always do. This article reminds you that trying to predict short-term movements in the stock market is worse than useless.

But solid financial and lifestyle habits based on an understanding of what happens in the longer term are the closest things there are to guaranteed riches.

And for good measure – I love a blogger that will throw out an F-bomb every once and a while for good measure. I have edited just the same J.

Mr. Money Mustache’s Three Point Formula for Economic and Life Success:

1. Understand that everything is currently F*#king Great, and base all decisions on the general belief that things will continue to get more F*#king Great all the time.
2. Use this information as a happy basis to work hard, learn as much as you can, and deliver great value and help others as much as you can for your entire life.
3. Waste as little of the proceeds from this activity as possible, reinvesting them into doing more of step 2, further building and compounding both your strength and your happiness.

…The little boy cried wolf, and the villagers didn’t come.

But the media often does.

When bad things don’t happen, we often forget about who cried wolf. And so they do it again.

…Alarm is overrated.

People say, “there’s no need for alarm,” as if that rule only applies right now, as if sometimes, there is a need for alarm.

It turns out that there’s never a need for alarm, because alarm doesn’t do us any good. Alertness, awareness, action… there’s a need for this. But alarm?

BUSINESS OWNER/SUCCESSFUL FAMILIES

The difference between the ideal and the goal.

When we picture our future, we have an ideal in our minds in terms of what kind of progress we want to achieve in all kinds of different areas. The purpose of the ideal is to motivate us emotionally. It’s exciting to move into a future that we see as bigger, better, and more rewarding, guided by the ideal experience or picture of what we want to achieve.

It’s important, though, to recognize that the ideal is not a measuring stick. It’s meant only to inspire and “illuminate” the path ahead so we can see what our goals should be. A goal, on the other hand, is a point that we can actually reach because it has measurable attributes.

To help entrepreneurs see their successes more clearly, I came up with a concept that I call The Gap and The Gain. But the great thing about this goal-measurement strategy is that it doesn’t just work for entrepreneurs; anyone can use it to be happier and feel more satisfied in life.

How we measure our progress is key.

How we measure our progress on our goals is not only a game changer, it’s a life changer.

Measure forward against the ideal, and we’re headed for The Gap, my term for the space between where we currently stand and the ideal. When we’re in The Gap, we feel like we’re failing, we become disillusioned, dissatisfied, and unhappy with ourselves — and our confidence plummets.

Measure back from where we are currently to where we started, and we’re rewarded by all the progress we’ve made. We feel happy and satisfied about how things are going, and our confidence takes an immediate leap. This is what I call The Gain.

For an entrepreneur, getting stuck in The Gap is the worst possible scenario. I’ve often said that I start to go into The Gap several times a day, mostly when I’m creating something new and I’m not sure how it’s going to land with people. It’s a natural result of the negative aspect of our brain kicking in. But what saves me is that I realize I’m going into The Gap, and I know how to get myself out, fast: Measure back to get The Gain.

Choose your perspective on life.

I find it interesting that we motivate ourselves forward, we make progress by going forward, but when it comes to measuring our progress and achievements, we have to turn around and look back to see The Gain.

This represents a way of looking at all of life — either from the negative perspective of being in The Gap or from the positive vantage point of recognizing The Gain. One leads to unhappiness, the other to a satisfying life and, always, an increased sense of confidence.

Which perspective do you choose?