Is it possible to succeed with all your eggs in one basket?
It isn’t all that uncommon to dismiss popular belief and embrace the rules of opposites to reach success, according to a certain millionaire...
Find out how successful Wealth Strategist and Author of Secrets of the Millionaire Mind, T. Harv Eker continues to build on his wealth by following 2 rules of opposites.
He put all his eggs in one basket and focused on a specific goal and opportunity which skyrocketed his success, and from that moment on he has NO REGRETS!
Would you like to be able to say the same about your life?
Learn here how it's possible to break convention to achieve the success in life and business that you desire as we explore Harv’s perspective on the matter.
Have you noticed how there are so many adages and axioms we memorize and quote that make no real sense at all?
Yet we say these lines out of routine and habit, not realizing what they could mean and just how foolish we sound.
Harv highlights a common one: ‘You can’t have your cake and eat it, too.’
Well, pray tell, what then is the point of having cake in the first place?
Ooh, here’s another one: ‘Don’t look a gift horse in the mouth.’
Well, now isn’t that precisely what the Trojans should’ve done?
The point Harv’s making here is that building success requires much deprogramming from a wide variety of common assumptions and beliefs
Think back…
You learned in one of our earlier posts on creative financing that a practical solution to cash flow issues, and a great way to kickstart your enterprise, is to purchase your stock or product by selling it first.
I bet you didn’t see that one coming, but it’s true.
Let’s look at two more ‘Rules of Opposites’ that Harv suggests you follow for success, shall we?
Harv admits that very few people will recommend this to you.
Why?
The obvious reason is because 'life happens'.
If all your eggs are together in one basket, and you drop that basket, you lose them all.
But, here’s your solution, according to Harv…
Take excellent care of your basket!
We know that the only way to reach the next level is to take risks, right?
But the way Harv notices we’ve been conditioned to think about our egg-and-basket situation is fear-based.
We simply must overcome this constant fear of losing.
Now this truth is a well-established one…
If you wish to be really rich, you must be really great at something, says Harv.
And to be really great at anything, you must focus on that particular something.
And lo and behold, Harv insists that that’s the very basket you put all your eggs in!
Rich people are laser-focused.
Poor people, he says, have their energies scattered all over the place.
Which category do you fall in?
It’s tough enough to make a success of one business, let alone divide your energy and focus into multiple different places!
Surely you’ve heard this before… “But I’m constantly coming across great opportunities!”
Now you might be wondering how on earth can opportunities be obstacles…
Here’s how Harv puts it:
When other opportunities distract your focus from what’s right in front of you in this moment, where does your attention go?
You lose all the way, he says.
By entertaining other ideas, learning more, and conducting research, you lose time that you should be focusing on making what’s right in front of you work.
What happens as a result?
Your energies and focus are scattered again and you struggle to find your way back to where you left off.
If you’re busy growing a half-decent opportunity, put your head down, blinders up, and give it all you’ve got, adds Harv.
Nobody ever got rich by trying to run multiple businesses at the same time.
One business. One basket. All your eggs.
That’s Harv’s suggestion.
So, Harv is adamant that you must choose if you actually stand a chance of being successful.
But then the question becomes… “How do I choose?”
Look, you just have to pick one.
And make it work, says Harv.
It doesn’t matter which one you choose because it’s the habit of splitting your focus and energy that’s the problem.
That’s the habit you’ve got to replace, he adds.
Pick just one opportunity to commit your focus on.
Worst case scenario, even if your results are mediocre on your opportunity of choice, you can always let the underwhelming project go once it’s done, and start something else that works.
Eventually, you’ll have it work without you, and only then is it a good idea to diversify and add more to your plate.
Harv asserts that you choose one thing and get really frickin’ great at it.
Got it?
He’s not saying you don’t invest in real estate on the side.
He’s simply saying watch out, and he warns that...
Every moment you’re working on a side project is a moment of energy and time you’re losing, and a moment that you could have plunged into your one basket.
Remember, there are many great opportunities within your niche and business.
Just make sure you’re doing really well with one thing first so you can get rich first and then, once you’ve successfully made it, you have the option to start on other projects.
Get rich first before taking on more, says Harv.
Practice makes Permanent! -T. Harv Eker
Are you going to follow these rules of opposites?
Start by identifying one good opportunity within your niche or business and work it until it has run full circle and it can become optimized and systemized.
Take action by putting all your eggs in one basket to achieve the highest level of greatness and success possible in that one opportunity.
Be golden, so you can make it golden.
Because your success and wealth will only grow to the extent that you do, so become GREAT!
You can learn how to become successful when you’re willing to acknowledge that there’s always something new to learn and when you’re willing to grow.
Also, when you start challenging the norm and begin to break the clichés around wealth, happiness, and success, you’ll discover that the steps to having everything you’ve dreamed of are simpler than you’ve been taught.
If procrastination is a thorn in your side, you will greatly benefit from learning techniques in overcoming procrastination and although you'll have to practice it to get better at it, it will pay off in the end.
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Has your Mind ever wondered…
Most people refer to an understanding that emerged more than 400 years ago and associate these words with risking everything they have on the outcome, failure or success, of one particular thing.
While it may make sense in the investment world to diversify investment funds, it’s a completely different story when it comes to building success.
If you focus and commit your time and energy into making a success of an opportunity, you can build wealth in short order.
Moreover, fully committing to ‘perfecting the art’ of succeeding in one area of your life or business will instill habits of excellence.
Although the author of Don Quixote in the 1600’s is credited with this phrase, too many people use it completely out of context.
This instills fear of taking risks in the minds of potential dreamers, visionaries, and game-changers, putting innovation and disruption on the backfoot.
We are saying that there are circumstances under which the only way to succeed is to put all your eggs in one basket.
The fear of losing your money can be a paralyzing thought when you’re considering whether or not to invest, and any good investor will advise you to diversify your investment.
However, when the investment and tradeoff are taken in the context of succeeding in life and in business, diversification of your time, focus, commitment, and resources is the biggest mistake you can make before you're really great at what you're doing.
What’s the trade-off for investing your focused commitment on making a business or relationship work?
Well, success of course, with the experience and above all, the habit of succeeding!
If you'd like to create a bright financial future, it's not worth risking staying stuck in the past.
So familiarize yourself with principles and tactics that truly work in the real world, in real-time, and learn how to stop being afraid to say no to things that don't support your millionaire journey.
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