guru1000
Master Don Juan
- Joined
- Sep 20, 2007
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I'm not advocating the use of positive affirmations, though I believe positive affirmations vastly supersede negative affirmations. I am advocating you to create a new paradigm. Success begins the motivation to succeed. The difference between "positive affirmation" and "paradigm," is the former lacks the motivation to incite related thinking and action, and thus is not a precursor to success.But Guru the thing is, we are approaching the same situation just from two different angles. We both have the same goal, just two different approaches.
- You believe in using positive affirmations and from that.....a guy eventually comes across a plan to acquire the level of success he's looking for.
- I believe in using actual research, data, trends, and forecasts to come up with the plan.
That's why the $1 million number is there, because that's a BARE MINIMUM. I haven't gathered enough data, research, and forecasting variables to now say, "Okay, the bare minimum I should hit is at least $3 million." I can't just say that yet.......
If your paradigm is 1 mil, you are unconsciously blinded by those opportunities--which could create wealth that exceeds 1 mil--that are already in your sphere.
Couple years back, I had this one company that was repeatedly soliciting me to get involved with their business. I never engaged them for two reasons:
1) They had 3mm in debt;
2) If I somehow managed to settle this debt for pennies, the potential "paycheck" was 500% more than I was accustomed to earning.
Granted, I make a living by finding distressed companies that I can turn around, but the 3mm in debt felt too big for me to negotiate, and even worse the potential profit was not within my paradigm to accept as the "ordinary course of doing business."
You see the opportunity wasn't even considered as it was outside my comfort zone. We are creatures of habit and we tend to only afford our time and attention to those areas which we already feel comfortable with.
That year, a good friend made a killing in a Manhattan building, and his estimated net worth on that building alone was likely to reach 10mm within a few years (remember we spoke about paper growth earlier). Needless to say this was a shocker to me. Here was a guy who was less intellectual, less analytical, and less connected than me, yet here he was surpassing me with one investment. Meanwhile, here I am negotiating complex MBSs buyouts with banks, and structuring the most labyrinthine Ch 11bk filings and litigation strategies. One case I got involved with changed case law history in NY. I was the pioneer of new specialized case law for tolled judgments arising out of one of my ventures, but this pal of mine with one swoop took me out with a fundamental R/E buy? It didn't make sense.
One thing this friend did have was some set of paradigms. I remember as kids playing in the park: As most other kids ran to the ice cream truck, this guy said, "I'm going to own buildings all over Manhattan, while these other guys will be chasing their ice cream!"
That moment was a paradigm shift for me. Although I was already thinking big (as I had thought), I was in fact circumscribing myself.
A week later, that company with the 3mm in debt called me. What's 3mm, right? Child's play. I scheduled a meeting to discuss specifics. I inquired as to the directors assets and net worth, they had a combined worth of 1.2 mil. Couldn't file a Ch 11 for full extinguishment, but likely with the the homestead exemptions, they could file with a 900k payoff on 3mil worth of debt. I still didn't feel comfortable dolling out 900k for a potential 1.2 payout if everything went right even with investor money, as I am extremely conservative in mitigation of these types of plays. I scheduled a meeting with the creditors. The primary creditor happened to be a higher up with one of my mortgage banks. I explained the situation; as well as the potentiality of a structured Chapter 11 that would lose him over 60% of his principal. I mapped out the cost of expensive litigation, the likelihood of collection even if judgments were awarded. I invited their counsel to a subsequent meeting. Needless to say, after back and forth for a few months, we settled for 500k.
Tenacity, would it surprise you if I had stated that TODAY, you already have opportunities in your sphere to take you to the next level, which is beyond 1 mil. You are just not open to them.
Increase your paradigm.