A well-known Australian actor had a colourful reply when questioned about his ‘overnight success’. “Overnight success??? Pig’s …! Mate, I’d been acting for 15 years before anyone really noticed me”.
Whatever field you want to master, be it acting, sport or investing … you need to hone your skills and develop your experience over time. Success is not an overnight thing.
How Wildly Successful People Get Mastery
Malcolm Gladwell studied the lives of many successful people. He found out how they did it and documented it in his book ‘Outliers’.
10,000 Hour Rule
He tells the journey of a group of violin students over a few years. Those who went on to become virtuosos were not ‘naturally gifted’. What separated the masterful from the average players? The key determining factor was practice – lots of it. In fact, the virtuosos racked up over 10,000 practice hours! More than double the practice hours of the average performers. Not one of the virtuosos had made it through sheer ‘natural’ talent alone. Yet, many became masterful by doing a lot of practice!
Gladwell uncovered this common thread in the successful people he studied. It’s become known as the ‘10,000 Hour Rule’ a key factor in becoming masterful in a field. He found it applied across cultures and disciplines:
The Great News
The great news is, one doesn’t need to be ‘gifted’ or ‘born with talent’ to be successful in the stock market. It is possible to learn how to survive and thrive in the stock market. It’s only through experience that we come to understand all the little nuances of our chosen field.
Practice gives us experience and plays a major role in success. There is no two ways about it. But equally important, is knowing ‘right things’ to practice.
Successful Investing in the Stock Market
By coming to a Wealthwise stock market course, you’ll learn the things that really matter to investors and traders. With our method, practising will become targeted, useful and time savvy.
It only takes one weekend to get off to a great start!
We look forward to seeing you soon.
Take care and if you have any questions, pick up the phone and call us. We are happy to assist.
Look out for our next blog: ‘How to get 10,000 Hours Experience without Spending 10,000 Hours’