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Before the stock market, I had tried my luck with two different ventures. On both the occasions, I failed. The first one was my attempt to create an online marketplace and the second was an attempt to offer an online platform for job seekers. I even received funding from one of my realities, developed the website and partnered with three other college friends to run the venture. Unfortunately, it closed done with six months. Today, many successful ventures are running based on a similar idea. Our idea was not bad, but we failed to execute it properly. Luckily, I did not get the chance to blame others. It was my initiative. I accepted my failure, paid back the initial funding in instalments and earned a lot. Today I realize that my initial failure built a strong function. Failure is always painful but it teaches some life changing lessons. If I had blamed my friends for the failures then it would have been hard to move forward.
Share y9ur success with others but take responsibility for your failures. Do not blame others under any circumstances. Try to find out where you went wrong. Blaming others increases the chances of repeating the same mistake twice.
During our first conversation, he pointed out how he was cheated and ended up losing this hard earned money. He blamed his advisor, broker and the system but never pointed out his own ignorance. John is just an example. There are many investors who always blame others for their loss.
Whenever I invest, the market takes a U turn. My broker misguide me, investing in stocks is just like gambling such comments are common from investors. Surprisingly, investors do not forget to take credit for any profit making trade.
We, the human beings, love to take credit for our success and blame others for failure. You need to do exactly the opposite, take responsibility of your failures and acknowledge others contributing for your success.
