Fast Financial Climax
There's sometimes in life that you don't want the pay-off to come too quickly..
Espresso shots should be slowly extracted
Cheese tastes better the longer it's aged
Whiskey is best if matured over decades
You get the idea...
BUT in your financial decision making, you need to get the pay-off super quick and the only way to get the pay-off and move on is to DECIDE FAST
In relation to big money decisions like buying a house, my dad always used to say "It's not like buying a tin of baked beans Dill" and by this he meant that some financial decisions require a considered approach
By contrast, some financial decisions should absolutely not require you to consider every last parameter and can be made without the melodrama most people associate with ANY money decision
Even more important than the speed of individual decisions is the pattern of decision making prevalent in your life; if you are still spending just as much time pondering 2-zero decisions (anything in the £100's) as you were 2 years ago, that's a sure sign that nothing has changed in your economic ecosystem
Likewise with bigger decisions; if you spend just as long pondering the purchase of a new car, new house, new boat; the evidence would suggest that you have not worked hard enough on your decision making process
The feeling of being able to CONFIDENTLY make 2, 3, 4, 5, 6 and even 7-zero decisions in shorter and shorter times is not only liberating but also necessary
What you might have been conditioned to believe is FINANCIAL PRUDENCE is actually fear in disguise; think about it this way if you could guarantee that every spending/saving/investing decision you make is going to give you the best value/best return/biggest growth, how quickly would you make your decision?
If the outcome you desired was guaranteed, there'd be absolutely no hesitation, right?
As you relinquish the fear of losing money, you get better at making fast decisions over the small stuff which naturally precedes getting better at making fast decisions on the big stuff; and that's where the real magic happens..
If you get stuck with the small decisions, you'll always be operating at that level.
By way of example, check out this post that I saw inside a Facebook group that I am part of:
On what planet does ANY aspiring business owner waste an entire day garnering the opinions of others on whether a quote of $35 amounts to being ripped off?
Surely it would have been better to spend/invest/waste the money, learn from the experience and move on?
As it happened, the only people who were attracted to the post were like-minded procrastinators who began to suggest all sorts of free/cheap/SLOW ways to achieve the same output
Do you think that this helped the lady make a decision that drove her business forward? Or do you think she is still procrastinating about what to do?
If she'd made the decision and moved on, is it likely that she could have made other decisions in her business that would have been far more profitable than saving a few bucks on a Fiverr gig?
If she is going in to a $35 decision with the mindset of "not wanting to be ripped off", how do you think she'll ever manage bigger decisions?
Honestly, I am absolutely fricking flabbergasted at "wannabe" entrepreneurs always trying to do things on the cheap
AND the absurdity of it is they often use the excuse "I've been burned in the past"...
I wonder if Elon Musk ever considered not sending another rocket up to space when the last one exploded in front of his eyes...
Some might call my approach reckless...
But the DISTINCTION is this:
The less zero's there are in a financial decision, the less time you should spend pondering, procrastinating or pontificating
AND with EVERY decision that doesn't work out your way, THAT'S when you take the time to deconstruct the process and make improvements for next time
It's in interrogating the decision making process after event that the real benefits to your financial future come because you're able to fine tune the process and go again
Where procrastination and fear keep you stuck, iteration leads to continuous improvement
Of course, the same IS true at the opposite end of the spectrum; if you are continuously making fast decisions and getting yourself in the same trouble, it's not the speed of decision making that is your Achilles Heal but that you are failing to deconstruct the process and identify the learning from each decision that didn't go your way
Until next time... Remember, you'll never live forever, so let's leave a legacy that does