“The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those which fail.” (Napoleon Hill – Author, “Think and Grow Rich”)
Everyone has initiated plans that have failed.
Plans to make better health decisions. Plans to spend more time with the family. Plans to save more. Plans to learn more. Plans to invest more.
Napoleon Hill reminds us that many people fail because they stop when faced with a setback. It’s as if they believe that because something didn’t work nothing will work. How much further from the truth can that be?
Successful people know that a problem is simply an opportunity waiting to happen. If a plan doesn’t work they create a new plan. They notice what went wrong, apply new techniques and forge ahead. Too many people stop when their first attempt fails rather than learning from it and trying again.
Wealth is built when we create new plans to replace poor, worn out or non-working ones. There’s a reason why a very small percentage of Americans retire financially independent. Most will do what everyone else does and wonder why they aren’t getting ahead. They haven’t initiated a plan that will get them where they dream of going!
Two distinct times in my life I’ve seen a number of people invest in stocks when the market was doing very well. They got in late in a rally. Then a correction took place and, of course, they sold when things bottomed out. They then vowed that they would never do that again. They experienced one “failure” and then had no new plans – a total prescription for long-term failure.
My wife and I bought an investment home in 2004 in Las Vegas. It turned out to be tremendous financial decision for us. It was a new plan we had to create because we knew the opportunity was right. Furthermore, we knew we needed to do something we hadn’t done before in order to reach a financial goal we hadn’t reached before. The real estate market in Las Vegas today (2007) is very different and therefore we’ve decided to implement more new plans. We sold that home and have invested in a new strategy instead.
Create new plans to replace failed ones.
Create new wealth as you create new plans!