#043 Emotions of Success And Failure

How to Raise Money Podcast

We are living in turbulent, emotional times whether it’s Brexit or financial autonomy, so a little bit more calmness is always a good thing. However, It can be hard to manage your emotions with the highs and lows of running a business. The ability to manage your emotions is an extremely important skill for anyone who wants to succeed in property or business. In today’s episode, Ray goes through the best strategies to ensure that your decisions aren’t negatively affected by your emotions. Key Takeaways What Is Emotion? It is a feeling or sentiment which is instinctive, or intuitive as distinguished from knowledge and reason. We want to aim to bridge from instinctive and intuitive to knowledge and reason. Emotions are from the most primitive part of the brain and were helpful in the past to save your life, but they are not helpful in today’s society. Older people tend towards more stability with emotion compared with children. This is what we want in doing a deal in property, to be stable and in control of our emotions. Don’t get carried away with completing a great deal or failing a deal. The primitive emotion can be the first and overriding emotion so it’s important to learn ways of controlling them. All entrepreneurs in business experience emotions from high to low every week. We’ve all had road rage, but if you can master emotions in that situation you can in others too. Usually, the things we want, fall into three categories; Money, Security, Happiness. People want money to spend on clothes, houses and watches. A lot of people are addicted to security, which doesn’t allow them to make the right decisions in life. Then finally the important aspect of happiness is that it is a now experience. So if you have a happiness mindset at the start of the day you will see things that are happy. What we don’t want is failure. All great achievers have failed, failed and failed. A lot of people don’t want to work hard and commit to something. Commitment is key and is defined as doing the thing that you said you would do, long after the mood as gone from you. Dealing with Rejection. There is concept rejection and personal rejection. The key here is that you can’t take rejection personally, always think of it as concept rejection. You have to get used to rejection because people will say no to all sorts of things, for all sorts of reasons. Allow for possibilities to shift in people. There is risk in every area of life. The missing link here is emotions and controlling them well. People have an awesome capacity to change. If we can excel at mastery of emotions we can succeed greatly in life and business. Forgive everyone who said that you couldn’t do something. If you don’t forgive them then the negative emotions will persist. Start something new, and work within your values. Often people will only start to achieve when they are working inside their values. You can reset your beliefs which leads to a change in your emotions. We can choose the response to our environment. We make a decision to be upset, so we can easily make a decision to not be upset. You have the ability to respond to any situation in anyway you want, after a bit of work. If you fail, always get back in the game. All successful people will always get back in the game after failing. People participate until they have achieved. If there is no growth, there is no reward. The ability to try is fine but its a bit beige, so either do it or don’t do it, don’t just try. Jealousy can be a really difficult emotion. Jealousy is the present time fear of a future loss. Learn to celebrate other people's success when you see them with a brand new car, or properties for example. Emotional growth is key to this. Learning to notice your emotions, and then changing your behaviour is the key to mastering your own emotions. When you feel an emotion, notice it and ask yourself two questions: 1) Is the behaviour going to bring me towards what I want? 2) Is