How are you feeling in the midst of all these changes?
Are you calm and collected or are you overwhelmed?
These times are challenging for most people. We are constantly bombarded by the negative news. We are hearing about massive layoffs day after day. We are hearing about budget deficits and turmoil in the markets.
So how can we deal with all of this?
There is good news and there is bad news. The good news is that there is a way to get ourselves off this rollercoaster. The bad news is that it is not comfortable.
So what can we do?
Embrace the change.
Are you still using your old strategies? Do they work in this environment? If not, staying with them is like hoping and wishing. That does not get you any favorable results. The more you try them, the worse your results get, and you put yourself even more in despair.
This does not mean that you have to change everything. The tiniest changes yield massive results!!!
If you want to be successful in the markets, adjust and adapt. Look at new opportunities. Identify the little changes you can make today that will have an incredibly powerful impact on your business.
Remember, small steps are OK, and as a matter of fact, they are encouraged. That way, you dip your toe in the water and have a better way of knowing whether the new strategy that you are testing works for you or not.
Have you heard the story about the Swiss watch?
For most of the 20th century, the greatest watchmakers in the world were the Swiss. A Swiss wristwatch was the finest in the world and they dominated the market. They set the standard.
It was the Swiss who came forward with the minute hand and the second hand. They led the world in discovering better ways to manufacture the gears, bearings, and mainsprings of watches. They even led the way in waterproofing techniques and self-winding models. By 1968, the Swiss made 65% of all watches sold in the world and laid claim to as much as 90% of the profits.
Do you know which country sold the most watches in the 1980s? If you guessed Japan, you are right.
In the 1980s, the Swiss had lost most of their market share and had to lay off thousands of watchmakers. Between 1979 and 1981 (in only three short years) 80% of the highly skilled watchmakers lost their jobs. They slipped from 65% to 10% of the world market.
What happened? The Swiss refused to change. They would not embrace the new technology of the quartz crystal, which was ironically invented by the Swiss, and they clung to the ways of the past. “This is the way we have always done it” became their battle cry and they lost.
Do not be afraid of change – Embrace it!!!
- What tiny shifts will lead me to the changes that I want?
- How can I apply these changes so I can get the result that I want?
You’re not going to change your results unless you change what you’re doing!
Here is to making trading success your habit™