The absolute worst way to start building wealth is to delay in taking action: that is procrastination
Procrastination is one the hidden obstacle to creating wealth that has robbed many individuals of becoming financially free.
The real secret to overcoming procrastination is to take massive action.
The greatest lesson I have learned about building wealth is that you need to move from-dreaming about becoming wealthy-to taking action so that your dreams come true.
The truth is that you can easily become distracted about your plans to become financially free.
I don’t know about you, or if this applies to you:
I have found out that anytime I get to the point of starting out on my goals…I always have a few issues trying to derail me.
I start to get bills to pay or a major family issue comes up that needs my urgent attention… or it may be a deadline at work and so forth
For many years, I battled with shame and guilt of letting myself down about my wealth building plans
Until one, day, I made the decision to start building wealth regardless of whether I was ready or not
I have made progress in my goals of achieving financial independence.
I have not totally hit my wealth-building targets. But I know I am on track
If I had to narrow down how I overcame the habit of procrastination to five steps, they would be…
Be disgusted with yourself for not building wealth
You see if you are not happy with: struggling with your finances…going to a job you hate …
And you don’t do anything about it …
Then you can’t make any progress towards moving towards your dream of building wealth.
You must be constructively discontented about your life, which means you must never accept your present position in the wealth ladder.
You must stop whining and making excuses about why you are poor.
Stop blaming the economy, your spouse, and the government.
Make up your mind, you’ve had enough of your present affairs. And do something about it
Stop playing the victim. Start taking responsibility for your life
Make a decision to start creating wealth
The moment you get to that point in your life that you are disgusted with how you are living your life…
Here’s what you do when you make up you mind to start building wealth…
You must make a commitment to change the way you do things.
You must make a commitment to:
· Stop struggling to pay your bills to paying your creditors on time.
· Stop spending beyond your means to living within your means.
· Start saving a portion of your income for future wealth
· Spend time working on your long-term wealth building goals
· Study more about wealth and network with like minded individuals
· Pay off your debts and start saving money towards your future wealth
· Change the way you think about wealth and start acting like a wealthy person
· Get rid of negative money habits that have hindered your financial wealth
· Develop new money habits that support your decision to start building wealth
· Start delaying gratification of today pleasure so you can have wealth
· Be consistent with your commitment to change from procrastinating to wealth building
As you can see, there are many things you can do once you have made up your mind.
All you need to do is make a decision that you’ll change and start creating wealth
Realize that in order change your wealth building habit you must change your thinking
In other, to overcome procrastination you must change the way you think about creating wealth.
Your habits are a result of the way you think.
Therefore, once you decide to get rid of your bad money habits you must dig deep down to find their cause.
You must make a conscious effort to find the belief that supports your bad money habits. And replace them with wealth building habits.
For example, I know a friend of mine who finds it difficult to save money.
The reason why he finds it difficult to save money is because of his poor family upbringing. My friend struggled financially in his early years.
I remember he had only 1 pair of shoes to wear for 3 years in Medical school.
He made a decision to spend money and catch up with the deprivation he suffered in his early years. As a result, my friend goes over the top when he spends money .
What about you? Do you have a habit that you know derails your plans to create wealth?
The secret weapon I use to overcome my wealth stealing habits is to expose the belief supports my habit and then counter it with a positive belief.
For example, I notice that anytime I want to start a business I hear my inner voice telling me that starting a business is risky.
What I do is to confront this negative thought with a counter positive statement.
I usually come up with a positive statement like:
“Starting a business is not as risky as working for another person because when I my own business I have more control of my financial future”
You see, by confronting the beliefs that hold you back from becoming wealthy you can break bad habits
Take action immediately
The main reason many people who desire future wealth fail is that they don’t take enough action on their plans to be wealthy
Why? Because most of the time the greatest obstacle to taking action on your wealth plans is: that you are waiting for everything to be perfect before you take action.
As a result, you’ll start making excuses about why you can’t start
That is why you’ll hear most of your friends and relatives saying things like:
“I would start a business when I have enough capital”
“I want to have a real estate certificate before I start to invest in properties”
“I need to form the proper legal entity before I can start a business”
These are excuses that will not help you in creating wealth
On the other hand, successful individuals do three things…
Ready… fire… aim…
Which means that wealth builders do a bit of homework on a business idea, and then take action without waiting for a perfect business plan
The successful person knows that it’s in taking action that he will increase his chances of succeeding in business.
He knows he can always improve his product from the feedback he gets from his customers.
But he must first start selling the product to his customers
That is why you need to act immediately on your wealth building plans. Because the secret to increasing action is to keep on working on your wealth plans
Another reason why you may not feel like acting on your plan is that you may be feel overwhelmed.
The secret to avoid feeling overwhelmed is to break your wealth-building plan into small tasks, so you easily work on them
What if you cannot break the habit of procrastination?
There is still hope for you to succeed.
That is if you do one thing…
Overcome the fear of failure
How do you overcome the fear of failure? The answer is simple
You must begin to see failing as a stepping-stone to success.
You see in order to learn something you have never done before you must do what you have never done.
You must break way from your comfort zone.
The trick to overcoming the fear of failure : is to decide in advance that you are going to detach yourself from the outcomes of your action.
Why? Because the more you are emotionally detached from your mistakes, the higher your chance of learning from them and move on.
For example, when it comes to starting a business you need to master certain skills and know your market
If you spend time to learn the business skills you need to succeed, or surround yourself with experts then your risk of failing falls.
As a result, you feel more confident and banish fear
The next time you find yourself procrastinating and-feel you are not moving in the direction of your financial independence plans:
follow the steps to overcoming procrastination I have shown you and you’ll succeed