Speaker 1: Seven o two Change Your Mindset. Welcome back.
Speaker 2: This is a seven o two the Aubrey mas Angle Show.
Speaker 2: Of course, this is not Aubreu Masano. My name is
Speaker 2: Comenso Medica. I'm in for Brad Orbs and this is
Speaker 2: the third hour of the show. Time for us to
Speaker 2: speak about changing our mindset. And we're staying with the
Speaker 2: theme of money, and we're talking to someone who's going
Speaker 2: to help us make sense of the psychology of money,
Speaker 2: and that is Stanley Beckett. Stanley is author and consultant
Speaker 2: at Change A Creator is a Stanley.
Speaker 1: Good evening and welcome to the show.
Speaker 3: Good evenings, more too, it's last met too, and good
Speaker 3: evening to you and to all our listeners.
Speaker 1: Fantastic Stanley.
Speaker 2: I mean the book we're going to be going through
Speaker 2: the psychology of money entitled Tales You Win, you know,
Speaker 2: and I wanted to find out from you first what
Speaker 2: when we speak about psychology and money? What goes into
Speaker 2: the psychology around money? Is it just the thoughts that
Speaker 2: we hold about money? Is it the perceptions that we
Speaker 2: hold about money?
Speaker 1: What is it.
Speaker 4: That's interesting? You know? I was thinking about it now
Speaker 4: as we were preparing.
Speaker 3: For it, and you know when it comes to money,
Speaker 3: I think most people don't realize there's three planes of existence.
Speaker 4: We experience life, I believe.
Speaker 3: And I think on the same way, money can be
Speaker 3: experienced on three different planes. And I think so many
Speaker 3: times we tend to focus on one of the planes
Speaker 3: more than the others, sometimes even at the exclusion of others,
Speaker 3: and having that whole complete picture. To me, really through
Speaker 3: my years of studying, it is what we need to understand.
Speaker 3: And we have different experts that focus on different planes,
Speaker 3: and tonight we're focusing on one of them. So the
Speaker 3: three planes, the first one is your physical plane, so people,
Speaker 3: I think that's where the majority of people understand money.
Speaker 3: They understand it on a physical plan, so they understand
Speaker 3: if I work, I get money. Yeah, you know, we
Speaker 3: actually need to have all conversation about what money really
Speaker 3: is because I think the misunderstanding of what money really
Speaker 3: is is what keeps so many people from attaining it
Speaker 3: and from getting it. You know, I always say, money
Speaker 3: isn't something you make. It's only at the mint that
Speaker 3: people make money. Money is something you attract and understanding
Speaker 3: how to do that is something that very few people
Speaker 3: understand properly because we don't understand all three planes.
Speaker 4: But we understand the physical plane.
Speaker 3: We understand that direct correlation if I work and how
Speaker 3: I get money in. But then we then we got
Speaker 3: the two other planes that we need to understand better,
Speaker 3: and one of them is we have an intellect.
Speaker 4: So on the mind level, how does money work there
Speaker 4: for you?
Speaker 3: Because was the more you're able to work on the
Speaker 3: level of the mind, the more money I think.
Speaker 4: I believe you'll attract money on the physical right.
Speaker 3: But like I said, unfortunately too many people only work
Speaker 3: on the physical level, never really understand the mind level.
Speaker 4: So on the physical level, we've got a.
Speaker 3: Lot of education, a lot of tools about money. We've
Speaker 3: got great people who teaching that area and the same
Speaker 3: thing in the mind, you know. And Morgan Housel, he's
Speaker 3: one of these people. They talk about the psychology of money,
Speaker 3: the importance of understanding that on a psychological level you
Speaker 3: can can attract or repel money in your life on
Speaker 3: a psychological level.
Speaker 2: Let's get on to that.
Speaker 3: I'll mention the third level, which because it's also important,
Speaker 3: each level makes I believe your attraction force towards money stronger.
Speaker 3: And the third level is on the spiritual level, that's
Speaker 3: a much deeper level that.
Speaker 4: That you will get.
Speaker 3: For example, I don't know if you know of someone
Speaker 3: whose name is doctor Joe Despenser, he will work on
Speaker 3: that level.
Speaker 4: And how do how do we attract this energy called money?
Speaker 3: Bob Proctor one of my mentors who passed away years ago,
Speaker 3: he will also used to talk on that level. So
Speaker 3: for most people we stuck on the physical level. But
Speaker 3: if we can learn to start attracting money on the
Speaker 3: intellectual level and then on the spiritual level, you become
Speaker 3: a much bigger attraction force for money. So you're right
Speaker 3: this book that we're talking about the psychology of money.
Speaker 3: What Aubrey and I have been doing the last few weeks,
Speaker 3: we decided, let's unpacked each chapter chapter by chapter.
Speaker 4: Let's see what that message in each chapter is. And
Speaker 4: if I can just.
Speaker 3: Sort of just for yourself, maybe you're hearing this for
Speaker 3: the first time and for some of the other listeners
Speaker 3: hearing it the first few chapters, if I can sum
Speaker 3: it up into into two words for me, the first
Speaker 3: few chapters that we went through were about two things
Speaker 3: forgiveness and comparison. So we actually I work with a
Speaker 3: group on every Monday night and we go into a
Speaker 3: lot more detail to these chapters than I've been redoing
Speaker 3: them and refocusing on them. And what came through for
Speaker 3: me very strong, is that in order to attract more
Speaker 3: money into your life, you've first got to learn to
Speaker 3: forgive yourself for pause mistakes. Too many people don't haven't
Speaker 3: forgiven themselves, you know, because we all make mistakes, we
Speaker 3: all spend money on things we shouldn't have. We all
Speaker 3: know we could have done better, right, But if you
Speaker 3: cannot forgive yourself, then you cannot become an attractive force
Speaker 3: for money.
Speaker 4: You have to learn to let go.
Speaker 3: You even have to learn let learn to let go
Speaker 3: of things that we're done to you.
Speaker 4: You know.
Speaker 3: I know for example, and I speak to people and
Speaker 3: there's there's someone that we're sharing with us that she's
Speaker 3: still sitting with something the decision she still feels to
Speaker 3: this day that she made ten years ago, that lost
Speaker 3: in that time a lot of money that she still
Speaker 3: feels today she's still stuck and.
Speaker 4: Doesn't have many because of what you made ten years ago,
Speaker 4: that was ten years ago. When can you forgive yourself?
Speaker 3: When are you going to let it go so that
Speaker 3: you can create a new space to attract money, right,
Speaker 3: So that and then the second thing is comparison. You know,
Speaker 3: we compare ourselves, and when we compare ourselves, we don't
Speaker 3: do a fair comparison.
Speaker 4: So I won't going to compare myself to my next
Speaker 4: door neighbor, not really.
Speaker 3: When it comes to money, I compare myself to the
Speaker 3: billionaires out there. I compare to myself to those who
Speaker 3: are really rich. And every time I'm going to compare
Speaker 3: myself to that, I'm going to I'm going to come short,
Speaker 3: and I'm again going to feel like I can't attract money.
Speaker 4: So I again repelled the ability to do that.
Speaker 3: And what those first few chapters were about understanding the
Speaker 3: psychology behind that and understanding that nobody's crazy. We all
Speaker 3: every person looks crazy to the next person when it
Speaker 3: comes to money, but we're all only acting towards money
Speaker 3: the way we were taught to growing up and our
Speaker 3: experiences in life.
Speaker 4: And secondly, these people that you see that's billionaires and stuff, that.
Speaker 3: Was the one time lucky thing, something that happened to
Speaker 3: be in the right that were born either in the
Speaker 3: right place like Bill Gates, for example, he happened to
Speaker 3: be lucky to be one of the only students in
Speaker 3: the world at that time that had access to a
Speaker 3: computer lab back in the nineteen sixties in his school.
Speaker 4: Had that not been the situation, Bill Gates today might
Speaker 4: not have been Bill Gates.
Speaker 3: So that was what the first few chapters were about,
Speaker 3: is understanding in your psychology that it's time to forgive
Speaker 3: yourself and let go learn from the mistakes, but let
Speaker 3: go and certainly stop comparing. In this chapter tales, we're
Speaker 3: sort of going into a different part now of it.
Speaker 4: And what I want to do in the session.
Speaker 3: With you tonight's explained what tales we Win mean. He
Speaker 3: explain how it applies to us in our lives, and
Speaker 3: then leave it. Hopefully I have enough time to leave
Speaker 3: the listeners with just five. I chose five five habits
Speaker 3: that you can start building that can help you specifically
Speaker 3: develop this pot when it comes to the psychology of money.
Speaker 2: Yeah, for a listener who may be listening to this
Speaker 2: for the first time, and I know that you've covered
Speaker 2: quite a bit with brah orbs, but you were speaking
Speaker 2: about attracting money. I want you to go through that
Speaker 2: really quickly for us, because it sounds like something really
Speaker 2: high up there. You know, attract money, But I mean,
Speaker 2: what do I practically have to do? Do I have
Speaker 2: to bath in something? Do I have to you know,
Speaker 2: look a certain way, be a certain way?
Speaker 1: What does that even mean?
Speaker 4: Yeah?
Speaker 3: So what it means to attract the money? And look,
Speaker 3: it's just the word I use, but it helps you
Speaker 3: understand how it works. The more it's kind of like
Speaker 3: think like a magnet, right, the more value you bring
Speaker 3: into the world, the more of a magnet towards money
Speaker 3: you've become, because that's really what money eats money. We've
Speaker 3: known money through the ages has been different things all
Speaker 3: the time, but it's always essentially been the same thing.
Speaker 4: So it went from from from gold coins.
Speaker 3: Through first even before that, there was a bartering system,
Speaker 3: and then they started realizing I can't carry ten cows
Speaker 3: every time to you every time, I want so many
Speaker 3: chickens or so much corn. So they would start writing
Speaker 3: an IO you on a piece of paper. That became
Speaker 3: the first symbol of money. Then the king wanted to
Speaker 3: have control all of that, so we had gold coins
Speaker 3: made with his Stampanese face on it that became money.
Speaker 3: Through the years, we have this funny looking paper you
Speaker 3: go to every country, and there's all this different, funny looking.
Speaker 4: Paper they call that money.
Speaker 3: There was a time, if you remember, you ad like
Speaker 3: a check book where you could just write your name
Speaker 3: and write some amount on it and sign it. That
Speaker 3: was money. Then we went through credit cards that became money.
Speaker 3: Now money is not even those things. It's just zeros
Speaker 3: and ones on a computer screen. But all along it's
Speaker 3: always been the same thing. Money is an energy and
Speaker 3: it's an exchange of value. So if I see something
Speaker 3: and I value it, that makes me decide how much
Speaker 3: this thing I call money am I willing to give
Speaker 3: for it? And when we say attracting money, something you attract.
Speaker 3: What we are saying is that if you are not
Speaker 3: making what in your mind is enough money, job isn't
Speaker 3: to go and make more money. In other words, go
Speaker 3: and work harder. Your job is to find a way
Speaker 3: to become more valuable so that you can attract more money.
Speaker 3: So you can do that in various ways. So the
Speaker 3: more you study, for example, a subject that is needed
Speaker 3: that people need expertise in, the more valuable you become.
Speaker 3: Some people will go into a business and create a
Speaker 3: product that helps ease some part of many people's lives.
Speaker 3: And people absolutely want that product that's value. So then
Speaker 3: they've created something of value that attracts money. Today, some
Speaker 3: people will have a skill that very few other people
Speaker 3: will have, will be really good at what they do.
Speaker 3: You know, that's the other way you can do it.
Speaker 3: Be so good that you become irreplaceable in the minds
Speaker 3: of people you work in with.
Speaker 4: Then you will attract more money.
Speaker 3: So there's different ways to attract money, but it always
Speaker 3: comes down to the same thing. The value you give
Speaker 3: and the value you give cannot increase without understanding the
Speaker 3: spiritual side of money, the mental side of money, and
Speaker 3: the physical side, and how the three work together. As
Speaker 3: I said, this specific book, the Psychology of Money, it
Speaker 3: focuses primarily on the mind in the Psychology Beyond Money.
Speaker 2: All right, let's get into chapter six of the book,
Speaker 2: which is where we are now, and it speaks about
Speaker 2: something called tail events.
Speaker 1: What is that?
Speaker 3: Okay, So I'll explain that one a little bit. So
Speaker 3: what Morgan Housles, I'm going to sort of explain what
Speaker 3: he says in this chapter. And by the way, I
Speaker 3: tell all our listeners and yourself included, if you haven't
Speaker 3: read this book yet, do yourself a favor and get
Speaker 3: it and read it. And I always offer and I
Speaker 3: will get at the end of the session all our listeners,
Speaker 3: if they want, all they need to do is email
Speaker 3: me and I'll send them a copy of it for free.
Speaker 3: Because this is something we are South Africans. We need
Speaker 3: to get smarter in the way we think about money.
Speaker 3: And I think everybody should learn this. And in this chapter,
Speaker 3: so I'm taken out of the chapter that he talks about.
Speaker 3: He first off says that a few big events actually
Speaker 3: drive most of the outcomes in your life.
Speaker 4: So in business and investing in life is it's never
Speaker 4: You're never.
Speaker 3: Going to win all the time. And I actually want
Speaker 3: to say this upfront. This chapter isn't actually about winning.
Speaker 3: This chapter is about failure. This chapter is about how
Speaker 3: do you overcome failure and learn from it? Because he says,
Speaker 3: if you look at life generally, and you can look
Speaker 3: at the most successful people, they failed more times than
Speaker 3: they succeeded. Right, But he said, it's those small number
Speaker 3: of wins that people see. They don't see all the failures.
Speaker 3: They don't see all the times you lost money, they
Speaker 3: don't see all the times you struggled, Right, It's those
Speaker 3: small number of wins that often account for the majority
Speaker 3: of results in life. And this is what he calls
Speaker 3: those rare tail events. They are sort of like the
Speaker 3: tail at the end of your story, but you needed
Speaker 3: that story to be able to get to the tail.
Speaker 3: And then he gives a couple of examples, which I'll
Speaker 3: give you. He says, first of all, if you look
Speaker 3: at Walt Disney, Walt Disney, he made over four five
Speaker 3: hundred movies and cartoons that people just didn't like it,
Speaker 3: and it looked like he was.
Speaker 4: Going to fail.
Speaker 3: It looked like that they weren't going to be able
Speaker 3: to hate this dream that they had. But then he
Speaker 3: created snow White in the Seven Wars back in the
Speaker 3: nineteen fifties.
Speaker 4: That movie was such a hit that it put Disney
Speaker 4: on the map.
Speaker 3: It gave him the resources, it gave him the investment,
Speaker 3: that gave him everything he needed to start the Disney
Speaker 3: empire that we know today. But remember that was the
Speaker 3: tail end of over four five hundred different projects he
Speaker 3: attempted that just didn't work for him. But every time
Speaker 3: he was doing it, he was learning, he was growing,
Speaker 3: he was understanding the market.
Speaker 4: The Morgan Housel speaks about someone else.
Speaker 3: In the beginning of the book, a guy from Germany
Speaker 3: called Heinz bergen Bergrin.
Speaker 1: I was really nervous to say that. Now I was
Speaker 1: like Heinz Berg.
Speaker 4: Yes, that's it.
Speaker 3: So he escaped Nazi during the I mean the Nazi
Speaker 3: and went to the years and for many years, for
Speaker 3: most of his life, he collected art and pieces of art,
Speaker 3: and he had paintings from Picasso, from Matisse, all these
Speaker 3: original paintings, and he sold those paintings to the German,
Speaker 3: to Germany towards sort of fluck late on in his life.
Speaker 3: For over back then it was one hundred million dollars, right,
Speaker 3: the Germans saw this as a bargain because he actually
Speaker 3: should have sold it for a few billion dollars, but
Speaker 3: he gave it over all, right, he had this huge
Speaker 3: amount of beautiful art and it was so valuable, but
Speaker 3: he also had that ninety nine point nine percent of
Speaker 3: the art that he had was worthless, right, it didn't.
Speaker 4: It didn't make money.
Speaker 3: But those few little art pieces he had, that's what
Speaker 3: gave him misfortune. But he kept buying and buying and
Speaker 3: buying and investing. So it wasn't you look at him
Speaker 3: and you think while you're so successful. No, it was
Speaker 3: actually a very small part of what he had was
Speaker 3: actually could be quint that it's successful. This law even
Speaker 3: works in the stock market, right It follows this law
Speaker 3: of tales. So if you think about it, since nineteen
Speaker 3: eighty seven percent of public company companies, which are the
Speaker 3: big winners, actually account for all of the market grates,
Speaker 3: only seven percent of all the markets in the stock
Speaker 3: I mean companies in the stock market, right, well, forty
Speaker 3: percent of the companies failed straight away. And it's only
Speaker 3: a handful of superstar companies. If you think of companies
Speaker 3: like Microsoft, Apple, and Amazon that outweigh the hundreds of
Speaker 3: thousands of media companies, it's.
Speaker 4: Always a small amount.
Speaker 3: If you think of someone like Jeff Bezos, right if
Speaker 3: you look at Amazon, Amazon, he had some horrible ideas.
Speaker 4: They had some marrable products.
Speaker 3: I don't even know if you remember, there was a
Speaker 3: there was a thing they created called the firephone. It
Speaker 3: was a complete flop. It almost brought the company to bankruptcy.
Speaker 3: But based on them panic Instead, he said, if you
Speaker 3: think that was a big don't worry. We working on
Speaker 3: much bigger failures right now. So he understood that life
Speaker 3: is about failing and learning from those mistakes. Yeah, and
Speaker 3: that you need to keep going. And this is what
Speaker 3: people need to understand I think, psychology wise, in this
Speaker 3: chapter is that in order to get to the tails,
Speaker 3: you've got to flip that coin enough time. Still it
Speaker 3: eventually lands on tails. But too many people give up
Speaker 3: before they ever get there. Too many people believe psychologically
Speaker 3: look at their mistakes.
Speaker 4: I think it's what I said in the beginning.
Speaker 3: Don't forgive themselves, don't let go, so they don't learn
Speaker 3: the most important lesson. They don't understand how important it
Speaker 3: is to have three of the biggest qualities and I'll
Speaker 3: get to them just out that ground. And because they
Speaker 3: don't have that, they never win begin life. They never
Speaker 3: get to what's actually potentially possible for them.
Speaker 2: Yeah, that's really what this chapter is about. Yes, understanding.
Speaker 2: I just want to come in there because you know sounds.
Speaker 2: I mean, the idea really is staying in the game
Speaker 2: long enough right for that big win, right, which you'll
Speaker 2: ultimately get.
Speaker 1: But what do you do in the meantime?
Speaker 2: You know, and Lissa maybe thinking, I mean, and while
Speaker 2: you are buying the one hundred thousand paintings that are
Speaker 2: worth nothing, you know, and you're waiting for the goal
Speaker 2: at the end.
Speaker 1: What do you do to keep going?
Speaker 4: Yeah? Look, keeping going?
Speaker 3: I think so if you if you're speaking about surviving,
Speaker 3: I think that's possible, right, And I'm I suppose in
Speaker 3: a way, Morgan Housel, Yeah.
Speaker 4: Isn't talking to the survivors.
Speaker 3: He's talking to those people who want more, right, He's
Speaker 3: talking to those people that want financial freedom.
Speaker 4: I always use that word mortal. I'll tell you why,
Speaker 4: because for most.
Speaker 3: People, the idea of being extremely wealthy so far out
Speaker 3: of their reality that that they never actually seriously go
Speaker 3: for it. Okay, but I believe financial freedom is possible
Speaker 3: for any person, doesn't matter what your situation currently in
Speaker 3: life is its possible. So let's quickly talk about what
Speaker 3: I mean when I say financial freedom. Financial freedom is
Speaker 3: the day that the money that comes in not from
Speaker 3: your job, but the money that comes in from passive incomes. So,
Speaker 3: in other words, you've worked long and hard to create
Speaker 3: streams of income that bring you money, right even when
Speaker 3: you're not working. The day that that money from passive
Speaker 3: income is greater than your daily expenses, you are financially free.
Speaker 3: And I believe that's possible for anybody right with the
Speaker 3: right mindset and right with the right work. So that's
Speaker 3: a goal that's achievable for us all. And when i'm
Speaker 3: when I what I'm saying tonight is that if you
Speaker 3: if you want to get there, then then then you've
Speaker 3: got to be willing to do what they speak about
Speaker 3: in this book and what all successful people speak about.
Speaker 4: You've got to put in the work.
Speaker 3: You've got to be I'm not look, you've got to
Speaker 3: look after yourself day by day, But what is your
Speaker 3: plan outside of your day by day?
Speaker 4: What are you doing?
Speaker 3: And someone said this to me once and I've never
Speaker 3: forgotten it. Set becoming wealthy and financially free is not
Speaker 3: what you do from nine to five. It's what you
Speaker 3: do in between those times. So it's not that job
Speaker 3: that you have every day. What are you doing in
Speaker 3: between that are you going home every night? And yeah,
Speaker 3: I'm speaking to the people working. I mean there's different class,
Speaker 3: but tonight I'll speak to your nine to five job.
Speaker 3: Do you know that it's the only source of income
Speaker 3: you have, is your nine to five job.
Speaker 4: You are in a very precoous, curious position.
Speaker 3: You just don't know it, because in any moment and
Speaker 3: life has become so unpredictable. You could lose your job,
Speaker 3: you could have retrenchment, so you could say that I
Speaker 3: need journeymore.
Speaker 4: What do you have as a backup plan? What are
Speaker 4: you doing between nine to five?
Speaker 3: So if you're going home every night and all you're
Speaker 3: doing is in front of the TV, and you're watching
Speaker 3: television and you're saying yes, like so many people say,
Speaker 3: I worked hard today, I need a break, then you're
Speaker 3: never going to get to a point where passive income
Speaker 3: and something more becomes possible for You've got to look outside.
Speaker 3: So to answer your questions, yeah, keep doing what you're doing,
Speaker 3: But what are you doing outside of that to at
Speaker 3: least give yourself a chance? So it's not saying that
Speaker 3: every person is going to get there, but I can
Speaker 3: one hundred percent guarantee you're not going to get there
Speaker 3: if you.
Speaker 4: Don't do something about it.
Speaker 3: But what are you doing in between those times to
Speaker 3: give yourself at least a chance to be in the
Speaker 3: game so that you can at least start heading towards
Speaker 3: understanding how to attract more money from you And there's
Speaker 3: never been a better time in life in all of
Speaker 3: human existence. There's never been a better time to make
Speaker 3: passive money from a worldwide audience than what there is today.
Speaker 3: But unless we educate ourselves, unless we really start putting
Speaker 3: this seriously and making it one of our goals, because
Speaker 3: it won't happen until it's a goal. Happen until you
Speaker 3: say today is the day I start understanding how to
Speaker 3: attract more money into my life, then you'll just just
Speaker 3: be getting by. So I'm talking to those people that
Speaker 3: are doing the extra Yeah, those people that are putting
Speaker 3: in that extra effort that feel like what's the point
Speaker 3: because I never see things happening. It feels like I'm
Speaker 3: always stuck. Tonight, Morgan House also speaking about them and saying, listen,
Speaker 3: you need a few characteristics, and I'll get to them now.
Speaker 3: But you need certain characteristics and if you just keep
Speaker 3: using those characters and some of the habits, I'll also
Speaker 3: try and mention if we have time, you will even
Speaker 3: get there.
Speaker 2: So before we get into the characteristics, I just want
Speaker 2: to invite our listeners who are listening to this really
Speaker 2: important conversation. We're taking your calls on zero double one
Speaker 2: double a three oh seven O two. That's zero double
Speaker 2: one double a three oh seven o two. Give us
Speaker 2: a call and let us know what you think about
Speaker 2: this conversation. And is this something that sounds like it's
Speaker 2: practical to you? All right standing? Yeah, you wanted to
Speaker 2: kick us off there.
Speaker 3: So I'm going to mention the three character the reistic
Speaker 3: you need to develop as mentioned by morgen Hausel in
Speaker 3: the specific chapter. Yes, and then the very first one
Speaker 3: I just want to pause on as well. I'm told
Speaker 3: mention the thing and come back to the first because
Speaker 3: it's a very important one. But he says the first
Speaker 3: one is perseverance. That's a characteristic you have to have
Speaker 3: if you are going to win in life. The second one,
Speaker 3: especially when it comes to money and success, is he
Speaker 3: mentions experimentation. So you've got to be willing to experiment.
Speaker 3: You've got to be willing to try different things and
Speaker 3: be okay if you don't fail.
Speaker 4: But what do you learn from them?
Speaker 3: There's I forget his name now, but it's a young
Speaker 3: guy on the show and in the UK called the
Speaker 3: Dragon's Den Very successful in company is a billionaiready and
Speaker 3: he says the reason he is so successful is because
Speaker 3: he does things faster. He looks at the ideas thinks
Speaker 3: it might work. He doesn't sit and think, and he
Speaker 3: grabs it. He starts it, He looks at it, and
Speaker 3: he says, so many of his ideas are failed, but
Speaker 3: he says so many of his just as much, not
Speaker 3: not as much, but he says more important. Every now
Speaker 3: and then he finds an idea that's really successful. But
Speaker 3: he says, if you like most people and Napoleon you
Speaker 3: all says this in one of my other favorite books,
Speaker 3: Thinking Very Rich, if you like most people are unsuccessful
Speaker 3: in life.
Speaker 4: People are not successful.
Speaker 3: They take forever to make a decision, and when they
Speaker 3: make a decision, they change their mind all the time.
Speaker 3: So now finally I make a decision. Then I ask
Speaker 3: the next person and they give me a different point.
Speaker 4: Of view, and then I change my mind again. I go,
Speaker 4: maybe this isn't the right time, Maybe this is in
Speaker 4: the right investment.
Speaker 3: He says, successful people they make their minds up very quickly,
Speaker 3: and when they make their minds up, it's very hot.
Speaker 4: They hardly ever change it. They go for it.
Speaker 3: So that's what experimentation is. Try different things, see what
Speaker 3: works for you. You might be surprised. You might have a
Speaker 3: skilled or something that you're really so good at but
Speaker 3: you'll never discover it because you never tried it, because
Speaker 3: you always just stayed in your little nine to five box.
Speaker 3: So that's the second thing you need, this experimentation. And
Speaker 3: then the last one he said you need is resilience.
Speaker 3: He said, you've got it. You've got to have that
Speaker 3: toughness to go through the ups and downs. You must
Speaker 3: learn not to panic, like even when it's in the market.
Speaker 3: The markets go up, the markets go down. The people
Speaker 3: who are successful other the people who stay the course.
Speaker 3: Sometimes in life you're going to have successes. Sometimes you
Speaker 3: can have failures. The people who are successful are the
Speaker 3: people who stay the course on their goal and are
Speaker 3: always clear where they want to go. So those three
Speaker 3: characteristics odd things you have to develop if you're going
Speaker 3: to win. But I just want to mention that first
Speaker 3: one again, perseverance. Yes, and another word for that is persistence.
Speaker 3: Napoleon Yll in his book Thing Can Grow Rich an
Speaker 3: absolutely amazing book as well, he says in order to develop,
Speaker 3: he says, you cannot win in life, successful in anything
Speaker 3: in life without persistence, without perseverance. But he says, in
Speaker 3: order to have perseverance, again, there's four things you need.
Speaker 3: He says, the very first thing you need is you
Speaker 3: need to have what he calls a burning desire.
Speaker 4: That money that you go and that success that you're.
Speaker 3: Going for, there's got to be a why behind it,
Speaker 3: because I tell people you can fill a building from
Speaker 3: top to bottom with money, and I can tell you
Speaker 3: more towards all yours and it won't make you any happier.
Speaker 3: But what will make your happair is if I open
Speaker 3: the door, and so now you can take that money
Speaker 3: and go spend it. You see, we don't want money.
Speaker 3: We want what the money represents. We want that that
Speaker 3: money is going to do for us. So he says,
Speaker 3: the first thing you need is to build a burning desire.
Speaker 3: Why do you want that? Why do you want that success?
Speaker 3: What is it going to do for you? Make that
Speaker 3: clear in your mind, it says. If you don't have that,
Speaker 3: you won't persist. The second thing you need is a
Speaker 3: clear action plan. If you don't have at least some
Speaker 3: idea of an action plan, that's going to get it.
Speaker 3: So something you're working towards, some business you're busy building.
Speaker 3: Your nine to five job is not ever going to
Speaker 3: be it, but your ninety five job.
Speaker 4: The income you're getting from that, you're.
Speaker 3: Investing in something, you're building something else. You've got a
Speaker 3: plan of action for how you're going to make that money.
Speaker 3: You have to have that. The third thing you need
Speaker 3: is a mind closed to all negativity, because we all
Speaker 3: know there's nothing that can that can kill a dream
Speaker 3: quicker than a friend that says, oh, that'll never work,
Speaker 3: or a parent or spouse or somebody that doesn't believe
Speaker 3: in you. He says, you've got to be tough enough,
Speaker 3: because nobody's going to see your dream the way you do.
Speaker 3: You've got to be tough enough to have a mind
Speaker 3: close to all negativity. And then the last thing you
Speaker 3: need is to surround yourself. And this is such a
Speaker 3: crucial one and people miss this one so often. Surround
Speaker 3: yourself with like minded people, get into a mastermind of
Speaker 3: people that think the way you do.
Speaker 4: I always tell.
Speaker 3: People, if you have a group of friends, Let's say
Speaker 3: you have five friends and you are the wealthiest out
Speaker 3: of all of your.
Speaker 4: Friends, you are never going to become well.
Speaker 5: Here.
Speaker 3: You've got to surround yourself with people who are wealthier
Speaker 3: than you are. They will bring you up to their level.
Speaker 3: And he says that's what we need to look at.
Speaker 3: If you can look at those four things, you can
Speaker 3: develop the persistence. And then you've got to be willing
Speaker 3: to experiment, which means you try different things. Some things
Speaker 3: will work, some things won't, but do it quicker, fail
Speaker 3: quicker so that you can learn the things that do
Speaker 3: work for you. And like I said last, you've got
Speaker 3: to have that resilience to understand things aren't always going
Speaker 3: to go well, but are you willing to continue while
Speaker 3: the thing's ongoing as well as what you think they
Speaker 3: should be. And those are the three things you mentioned
Speaker 3: in this chapter that you need to be able to
Speaker 3: get to that point where finally you find that table
Speaker 3: and you find that way.
Speaker 2: Stanley, I'm taking notes here. I'm sitting at taking notes
Speaker 2: as you speak. If I don't come out of this
Speaker 2: as a millionaire, I'm calling you. I'm calling you to
Speaker 2: find out what I did wrong. Perseverance, make your mind.
Speaker 4: Be well, we not know where to look rong?
Speaker 2: Yes, carry on the experimental, try different things, resilience, have
Speaker 2: a clear action plan, and close your mind off to
Speaker 2: negativity and surround yourself with the like minded people.
Speaker 4: Got it absolutely?
Speaker 3: And then and then ten that you're writing down while
Speaker 3: you're waiting to see if anybody want to. You know,
Speaker 3: sometimes I think our audience and they're so deep thinking
Speaker 3: they don't even know what.
Speaker 4: To say next. So that's a good thing.
Speaker 3: You know, we've really focusing on it and seeing that
Speaker 3: you're taking notes, and I'm really it really makes me
Speaker 3: happy to think that audience at home taking notes as well.
Speaker 3: Like I said, if we have the time, I'd also
Speaker 3: like to give just five habits that people can start
Speaker 3: cultivating if they aren't doing it already. That'll keep them
Speaker 3: on the course until they get to that point where suddenly,
Speaker 3: as Napoleon all says in his books and encouraged, when
Speaker 3: that money suddenly comes, you've been working for so many years,
Speaker 3: you know, Like I said, overnight success usually takes about
Speaker 3: ten years. When that thing finally hits you. He says,
Speaker 3: it comes so hard and so fast that you ask,
Speaker 3: where has this been all my life? My wish is
Speaker 3: to help every person listening to the get to that point.
Speaker 4: In their life.
Speaker 1: Yeah.
Speaker 2: Stanley Beckett talking us through chapter six of the book
Speaker 2: The Psychology of Money, and that's entitled Tales you when
Speaker 2: as someone who says anonymous as a seventy one year
Speaker 2: old pensioner. My only plan is buying lotto tickets.
Speaker 4: That's interesting one I've got to talk about that.
Speaker 2: Yes, we are taking your calls on zero double one
Speaker 2: W three O seven to the zero double one double
Speaker 2: A three O seven O two. I'm also inviting you
Speaker 2: to send us your voice notes as well on zero
Speaker 2: seven two seven two one seven two and semessis on
Speaker 2: three one seven two. These really do sound like, you know,
Speaker 2: really good pieces of advice, especially because for most of us,
Speaker 2: you know Stanley, it's it's there not knowing where to start,
Speaker 2: you know it all just I mean, we know what
Speaker 2: you want, we kind of have a sense of the goal,
Speaker 2: and we're maybe even willing to put in the work,
Speaker 2: but we just don't know how to get started.
Speaker 3: True, And i'rew okay, and I'll tell you are yeah right.
Speaker 3: I believe that digging. Yeah, I believe it's not that
Speaker 3: we don't know how to start, it's that we don't
Speaker 3: know how it's going to end. I believe every person
Speaker 3: knows how to start. I believe every person. This has
Speaker 3: been for twenty years of working with people. I believe
Speaker 3: every person. If I to sit you down and you
Speaker 3: say you don't know where to start. I guarantee you
Speaker 3: you know at least the first step. It's not that
Speaker 3: you don't know what to do. And Aubit and I
Speaker 3: speak about this often. It's that you're not doing what
Speaker 3: you know you should be doing. It's called the knowing
Speaker 3: doing gap. We know what to do, and we like
Speaker 3: to use the excuse we don't know how to start.
Speaker 3: I know, and let's go. Remember I set to you
Speaker 3: there's a spiritual level of money as well. I'll just
Speaker 3: move into that just for a moment. I know that
Speaker 3: you will not, on a spiritual level, be given a
Speaker 3: desire to have something in your life without the ability
Speaker 3: to achieve it.
Speaker 4: It's not possible the two come together.
Speaker 3: And what stops us is we as human beings, we
Speaker 3: want to have certainty. We want to know the whole
Speaker 3: path that's going to get me from point A to
Speaker 3: point B. It's not that we don't know the next
Speaker 3: s pet, it's that we can't see the whole path,
Speaker 3: so we don't take that first step. And my mentor,
Speaker 3: Bob Proctor always used to say, if you think of
Speaker 3: these things in life, it's like driving a car at
Speaker 3: night between Victoria and Kiti. You don't have to see
Speaker 3: ten kilometers in front of you. You've got headlights. All
Speaker 3: you have to see is the next time or the
Speaker 3: next ten twenty fifty meters ahead of you. When you
Speaker 3: get there, you'll see the next When you get there,
Speaker 3: you'll see the next meters. But I'm arguing and saying,
Speaker 3: you know, I don't like saying someone's right or wrong.
Speaker 3: I'm just going to challenge you and say, challenge that thinking.
Speaker 3: And is it maybe more true that everybody actually does
Speaker 3: know at least the first step.
Speaker 4: But we're not taking that first step, and that's where
Speaker 4: we stuck.
Speaker 1: Sure, let's take a voice notes.
Speaker 6: Good evening, Good evening whom So how are you instantly? Yes,
Speaker 6: just a great show. I'm learning a lot because I'm
Speaker 6: running the business. I'm selling the fat cakes. I know
Speaker 6: very well. Stantley. Yes, the reader think that I've here.
Speaker 6: Whatever you have more you can start with it and
Speaker 6: then it will make big things. So important thing is
Speaker 6: to start what you have, then it can make so
Speaker 6: many breakthrough is Brian from Tatler home. A great show,
Speaker 6: Homoso and your COO and your guest Stanley, Thanks a lord,
Speaker 6: great job.
Speaker 1: Thank you for listening. Brian.
Speaker 2: Yeah, Stanley, I mean he's running a a bat cake
Speaker 2: business and it can be very lucrative.
Speaker 3: Look, I met Brian when he had absolutely He called
Speaker 3: that show and he had absolutely nothing and was like
Speaker 3: real desperate. But the only action step that Brian knew
Speaker 3: to take was to pick up the phone and phone
Speaker 3: and that action state led to a group of people
Speaker 3: that are spoke to saying let's let's all band together
Speaker 3: and help him start up his business. And that action
Speaker 3: step led him to him and his wife and his
Speaker 3: son now starting to sell these factags on the street,
Speaker 3: and that's going to lead to the next step. But
Speaker 3: now did Brian know in the beginning that that was
Speaker 3: going to be the path. No, the only thing Brian
Speaker 3: knew to do was to pick up the phone and speak.
Speaker 3: That's the only thing he knew to do. But yes,
Speaker 3: the thing he took action. How many other people listening
Speaker 3: to the show might have had that same thought that
Speaker 3: same night, if I just call in and explain, maybe
Speaker 3: somebody can help me.
Speaker 4: But they never picked up the phone, they never called.
Speaker 4: It reminds me of a story I saw.
Speaker 3: In a movie once where this person was a top
Speaker 3: A fighter pilot. You don't like in Top Gun, the
Speaker 3: movie those in their plant. And when he was interviewed
Speaker 3: and asked about his journey, he said, back in the
Speaker 3: nineteen eighties, like so many boys around the world, he
Speaker 3: saw that movie Top Gun, and he had this desire
Speaker 3: to become a fighter pilot. But his mats and his
Speaker 3: signs went very good. But besides, despite that, he went
Speaker 3: for it, and now years later he's a fighter pilot.
Speaker 3: And then they asked him, how did you become a
Speaker 3: fighter pilot when so many hundreds of thousands, if not more,
Speaker 3: boys who had that same dream watching that movie and
Speaker 3: had better mass and signs than you didn't become fighter pilot.
Speaker 3: And he said, simply because I filled in that application.
Speaker 3: Sometimes life is just about filling in that starting that application,
Speaker 3: just about taking that first step. So I come back
Speaker 3: to what you said there again, and hopefully this can
Speaker 3: inspire so many of our listeners. Maybe what's missing for
Speaker 3: you is not that you don't have the right opportunities.
Speaker 3: It's not that you went born in the right neighborhoods.
Speaker 3: Its not that you don't know the right people. Maybe
Speaker 3: the only thing that's missing for you at the moment
Speaker 3: is that you're not taking that first step. And man,
Speaker 3: when you take that first step, you'll understand the second step.
Speaker 3: Maybe the second step isn't possible to understand until you've
Speaker 3: taken that first step. Right, what is hold you back?
Speaker 3: And probably for so many of us, it's that psychology.
Speaker 3: And then if you'll allow me to say one more
Speaker 3: thing to that seventy one year old he wrote wrote
Speaker 3: in and said, the only hope is the lottery ticket.
Speaker 3: A man, I wish I could speak to that person
Speaker 3: and just tell them there's so much more hope for
Speaker 3: you than that.
Speaker 4: It doesn't matter your age.
Speaker 3: Age is a psychological number we put as a as
Speaker 3: a hurdle in our own lives. No one else. We
Speaker 3: have somebody in our group that works with us if
Speaker 3: we work. Who's eighty six years old? Right, He's learning
Speaker 3: about AI, he's learning about the Internet, he's learning about
Speaker 3: ways of making passive money. If he, at the age
Speaker 3: of eighty six can do it, why can you not
Speaker 3: at the age of seventy one.
Speaker 4: He'd probably look at that seventy one year old and say,
Speaker 4: you're still a child.
Speaker 3: So you know, at least psychological barriers that are not
Speaker 3: given to us by life that we impose ourselves that
Speaker 3: we need to get out of our way and then
Speaker 3: we can start moving forward. And that's why a books
Speaker 3: such as this the Psychology behind Money is so important, Homoto.
Speaker 2: Standa, It's take some a phone calls. I'm seeing the
Speaker 2: lines flashing. Someone here, Kevin in Jemeston. Or let's start
Speaker 2: with Reginald, because you've been holding for rather long. Reginald,
Speaker 2: you're in Bocksburg and you want to ask about money,
Speaker 2: attracting money. Sorry about that, Reginald, you're on in now?
Speaker 7: Sorry, Yes, it's okay, Yeah, I just needed to ask,
Speaker 7: is it possible that it can start? Let's stay for
Speaker 7: your business with a hundred trund while you only have
Speaker 7: a hundred trund because I believe that actually for you
Speaker 7: to start a business and for it to be successful,
Speaker 7: you must self maybe an extra amount in a New
Speaker 7: York bank account.
Speaker 2: Stand there's that age old conversation and question around capital.
Speaker 3: Okay, So so what I'll tell you, and I'm hoping
Speaker 3: that you and listen.
Speaker 4: I'm going to tell you.
Speaker 3: Test me on this and get hold of me when
Speaker 3: I leave my details, and I'll show you and I'll
Speaker 3: show you what I'm talking about. You don't even have
Speaker 3: to have one hundred grand to start. You can start
Speaker 3: with zero. You just have to start with the right intention,
Speaker 3: the right desire, and you just have to start take
Speaker 3: that first step. So do you need an undergrand? Yes,
Speaker 3: everybody knows the more capital you get, the easier, the
Speaker 3: faster you're going to move.
Speaker 4: But that should not stop you.
Speaker 3: So to answer the question, now, you don't need the undergrand,
Speaker 3: you need zero to get started.
Speaker 1: And Kevin, and you're in Jamston, you would like to agree.
Speaker 5: With stan completely. Thank you very much for the excellent show.
Speaker 5: Como and Stanley keep it up. And I still work
Speaker 5: for mister d. I started in twenty two January twenty
Speaker 5: twenty twenty two Sory thirteen January, And yes I did
Speaker 5: get in it for the money, but I've realized throughout
Speaker 5: this journey you don't go chasing after money. If you
Speaker 5: do the right thing, the right things will follow you.
Speaker 5: Last month I met I made the highest I've ever
Speaker 5: made of twenty two thousand net. Sure, so I totally
Speaker 5: agree with you. Keep up the excellent work.
Speaker 2: Ah, thank you so much for that call. Kevin, really beautiful.
Speaker 2: Selet me to hear the successes people's successes as they
Speaker 2: grow in their businesses.
Speaker 3: Right, stan that's wonderful, And I sometimes wish on the
Speaker 3: show we could have more people calling in because when
Speaker 3: we see other people doing it, yeah, then we need
Speaker 3: to realize that person is no different than I am.
Speaker 3: That person just did different things differently than I do.
Speaker 3: But if I start doing not I don't know if
Speaker 3: you follows exact path it, but what that person did
Speaker 3: and what these callers did, what everyone that's respeke toight did,
Speaker 3: they took the first step, they took action, right, And
Speaker 3: that's my wish that these shows that we do can
Speaker 3: get that person sitting at home and feeling like there's
Speaker 3: no hope, right, I can get them just to realize.
Speaker 4: But listen, it's up to you.
Speaker 3: It's in your mindset, and it's what you decide to do,
Speaker 3: not yesterday, not in the year, time tomorrow. What do
Speaker 3: you wake up tomorrow and do differently? That's what's going
Speaker 3: to determine your future, not where you are right now.
Speaker 2: Stanley, I'm going to have to let you go, but
Speaker 2: I don't want to let you go before you give
Speaker 2: us those five tips very quickly in thirty seconds.
Speaker 4: Oh, I don't have thirty seconds.
Speaker 3: So what I'll do is I'll agree that to it
Speaker 3: Aubrey show next year, and I mean when he's back
Speaker 3: or if you're there again next week, we will continue
Speaker 3: and we'll talk about those five tips because they need
Speaker 3: to be they need to be understood with a little
Speaker 3: bit of a conversation to understand.
Speaker 4: How to implement.
Speaker 2: Okay, give us your contact details so if people know
Speaker 2: where to find you, they're also asking how do they
Speaker 2: get your book, and they're also like a free copy.
Speaker 3: Yeah, I'm very excited to mention that we've got our
Speaker 3: new book coming out very soon.
Speaker 4: It's called how to Turn Your Bicycle into a Porsche.
Speaker 3: So I'm excited to share that with our listeners when
Speaker 3: it comes. But if anybody wants a free copy of
Speaker 3: my first book that's called The Lift Off, all about
Speaker 3: the mindset around your goals, and even if they just
Speaker 3: like to talk and join our Monday group which is
Speaker 3: absolutely free where we're talk in detail about these concept
Speaker 3: it's really life changing, then just email me Stanley at
Speaker 3: change Creator s a dot com, Stanley at change creator
Speaker 3: essay dot com, or they can go to our website,
Speaker 3: change creator essay dot com. Just type that in, you'll
Speaker 3: find a place at the bottom where you can leave
Speaker 3: details in a message, and you'll from there you'll get
Speaker 3: a free copy of the book, or you can look
Speaker 3: for me on LinkedIn. Just look for Stanley Beckett.