Trying to Learn Everything before You Begin

[Alex Gates]

This trap is very common amongst people who are risk averse. As we mentioned earlier, knowledge does indeed reduce your risk in the world of investing. However, the undeniable truth is that the best knowledge only comes from experience and not from text books. It can be very tempting to sit at the starting line, learning and preparing, hoping the conditions will be perfect before you begin but that’s simply not how life works. You must face challenges as you come across them by learning and improving as you move forward.

I definitely think it’s wise to get SOME education of what you are going to do before starting but then you need to get going and TAKE ACTION!! Experience is without a doubt the best teacher of how to do something.

But, just as with mountain climbing, in the world of investing you should recognize that your first climbs or deals should be treated as a learning experience and should accordingly be quite small in stature. As it’s a learning experience rather than the pinnacle of your career you should not begin with Everest. Start small so you can learn AND reduce your risk!

To Your Success
Alex Gates

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