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In recent months, I’ve been on a reflective journey.
Looking back over the past dozen years, I’ve examined the intersection of business, innovation, and missed chances.
It’s been an eye-opening experience, and here’s what I’ve learned.
The last two decades have been a whirlwind of technological advancements, but it’s the last 12 years that have truly stood out.
Consider these scenarios:
- If you’d stumbled upon Bitcoin in 2012 and held onto it, today, you’d be reaping significant rewards.
- Early adopters of e-commerce in the 2010s, leveraging cheap Facebook ads and organic reach, built multi-million dollar brands.
- Investing in the S&P, NASDAQ, or better yet, FAANG stocks, would have multiplied your investment.
- Consider Tesla or Nvidia – they’re even more striking examples!
- And if you’d started building a personal brand back then, consistently adapting to new platforms, you’d now wield an influential, monetizable platform.
Reflecting on this period, it was indeed ripe for financial growth and personal branding.
While many seized these opportunities, hindsight shouldn’t be a source of regret but a learning tool.
I, too, celebrated numerous victories and milestones during this era. Yet, there’s power in recognizing that I wasn’t ready to seize every opportunity that came my way.
Warren Buffett once discussed his investing regrets – not of actions taken, but of missed opportunities.
“The biggest mistake I’ve made so far is of omission, not commission”
It’s a poignant reminder of the cost of unpreparedness.
Cultivating a prepared mind
Preparing your mind for future opportunities boils down to two key practices:
1. Continuous learning
Embrace a broad and diverse learning journey. The internet is an endless resource, and this era demands constant skill enhancement and knowledge acquisition.
Remember, testing new ideas is a form of learning, even if many attempts fail.
You have to take the time to understand new areas of interest and keep a keen eye on what’s going on in the world. Staying inquisitive is key.
2. Openness to new ideas
Success often favours those who innovate or adopt novel approaches. Close-mindedness is the enemy of progress.
Be receptive to new ways of thinking and doing.
Most new and innovative ideas that come along receive ridicule. This is because they don’t fit into a pre-existing frame of reference.
There was a period when most people thought Amazon was a ridiculous idea.
Be conscious and cautious of falling into this trap.
The landscape ahead will differ from the past.
What brought success yesterday won’t necessarily work tomorrow. The early gains in Bitcoin, e-commerce, or stocks like Tesla may have plateaued, but that doesn’t mean opportunities are gone. They’re just different.
In the coming years, new industries and sectors will emerge, offering fresh opportunities.
To recognize and capitalize on these, honing a prepared mind is essential.
Are you preparing your mind for what’s next?