Wednesday, December 31, 2014

3 Personal Tips to Avoid Losing Money from a Get Rich Quick Scheme

This article continues the discussion from 5 Organizational Issues for a Pyramid Scheme.  In general, people often lose money when chasing opportunity.  How can you avoid this trap?

1.  Avoid making an emotional decision.  Some people associate music, celebration, suits and recruiting with an illegitimate organization.  However, in reality, when looking at an opportunity it is important for a person's will power, mind and heart to align.  One must not only be emotionally motivated by an opportunity, but must also be able to have a thought out plan as well as the will power to see the plan through.

2.  Stop thinking the grass is greener on the other side of the fence.  When you jump around from opportunity to opportunity, you may develop various skills but you will never achieve excellence.  Discipline, time and focus will lead to success.

3.  Focus on developing your talents.  In the book Outliers, it is mentioned that it takes 10,000 hours to become success in any given area.  There are no short cuts to developing your character.

Sometimes when people fail, they will point the blame everywhere else but at themselves.  What do you think?  Have you had a bad experience?  Can you describe it?

This post was reposted from http://finlit.biz/business/5-personal-issues-for-a-pyramid-scheme/, originally written on March 28th, 2013.

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