Successful people repeat the simple things that worked for them. They have a set of habits which are formed over a period of time and they stick to them.
Bruce Lee said:
I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.
I chanced upon this article published by Business Insider that talked about the habits of successful billionaires. 21 billionaires who were interviewed had 6 common habits that made them so successful.
These are simple habits which everyone can practice. The key difference is consistency and repeating it day after day. Some of my friends saw that I am quite disciplined and find it amazing that I seemed to do a lot during the day. I am not a billionaire (in fact far from that status) but I will share my personal experience with each of the habits. Some of you may find it boring but the idea is to share and hopefully inspire those of you who are struggling with a life routine.
Wake up early
- I am an early bird who starts my day at 6am. The day starts with a simple breakfast with my wife and kids.
- I then start to read the papers to catch up on the latest current affairs before I start my hectic day working from home.
- Since the lockdown started, gyms were closed and we couldn’t go outdoors to exercise.
- The alternative is to do some static exercise at home. I’m amazed that many instructors started online free coaching sessions on home based exercises.
- It was a big relief eventually when the COVID lockdown ended. I alternate between running and short 1-hour workout at the gym. Exercise helps to clear my mind and keeps me going.
- Reading in the current day need not be confined to reading a book.
- In fact, I read a lot of articles online, watch a wide range of YouTube videos to learn about topics like investing to businesses.
- With the COVID situation, a lot of gurus have also pivoted to host free training and webinars on Facebook Live and other online channels.
Take alone time to think
- Running and having after dinner strolls are quiet “me time” for me to refresh my mind and think better.
- I also do short 5-minute meditation at least twice a day. This is a good way for the mind to reboot.
Develop routines and rituals
- I came across a research finding that says habits take at least 21 days to develop.
- Keep repeating the routine and soon you will find that it becomes a habit which is ingrained in your life.
- Have a plan of things you want to do everyday and stick to it.
I am privileged to learn investing and trading from many reputable mentors. I find that each of them has a simple set of rules that work for them after trial and error over years. They just keep repeating the game plan and get very good results. It’s just like what Bruce Lee said about the guy who practiced one kick 10,000 times!
As you start your journey of investing, you will start to discover “you don’t know what you don’t know”. As you learn more, always maintain self-awareness and reflect on what works best for you. Over time, you just need to find those habits (or investment styles) that work best for you and keep repeating them for consistent results.