Whenever we have a new colleague, especially one fresh from school (even better if he/she never studied supply chain like me!), I would ask them for their feedback (after their probation) on their first impression of our company, our department, our retailers, our suppliers, etc.
You'll be surprised how many ideas I've "borrowed with pride" from them! Ah! The benefit of fresh eyes!
Just a simple test for the skeptical. Go away for a 2 weeks holiday and when you return, you can "see" everything in your room clearly. Try spotting something "not right" if you live in your room day in day out ;)
Whenever I am a Project Leader for a task, I will always include at least one young, inexperienced but highly motivated colleague to the project team. Why? You've guessed it!
Youth don't know what cannot be done!
The challenge dealng with "experienced" team members is whenever an idea is brought up, it's either:
1) In 1985, we tried it and failed. So forget it...
2) It cannot be done! You don't understand this industry...
Study then Do versus Do then Study?
If you are starting out in your financial freedom journey, you may want to reconsider the Singapore path: study, collect paper, do.
Have you noticed that Singaporeans just love to study and take courses?
Oh! I interested in this. I'll take a course! Or seminar. Or workshop. Or self-study by reading lots of books. Then I try it out?
Eh... What if after all the time and money invested, you discover you don't like it at all?
You may be interested in this old post: How would I know I don't need anything?
There is a difference between studying for a MBA and hoping it will make you a CEO and being a CEO and studying for a MBA to understand the business better. Same same but different!
Investing/Trading - Don't limit yourself by reading too much
I noticed that in forums some "younger" investors/traders have shared they read this and that book. Often these books are from the more well-known gurus. The book list looks suspiciously like the "recommended text list" of our school days...
More mature or experienced investors/traders can tell which books or authors are "poison" to their investment styles or temperament. Sometimes it can be a good thing when our cups are full. We decide how much of the old tea to throw out to make space for the new brew. We are discerning.
But if your mind is a sponge, watch what you put into your brain!
Of course read a few basic primer. However, most of the learning is through actual real money trades or investments. In fact, I wish you would make all the stupid mistakes within the first year. Even better if you bust out your account!
Isn't it better to learn what's capitulation with $10,000 than when you have $100,000 or $1,000,000?
Actual personal track record will help you decide for yourself (not listening to others) whether it's better to use cut-loss or average down. Both works! But the right technique will only match the right temperament and depending on how deep is your pocket. Can you discover which is best for you by reading or copying others?
Use a trading journal or investment diary.
Once you have better understanding of yourself, you can find and read all the books best suited for your "style". Attend the "right" seminars and workshops, etc.
Why pay good money to attend options, property or forex seminars - when you discover you are not comfortable with leverage?
Walk on the grass - make a path for yourself
In summary, don't be too quick to label yourself a lamb. Try walking on the grass instead of the well-worn path others have walked before you.
Who knows? You may discover you are a shepherd! You can even write books and give seminars to others who are willing to pay to listen to you ;)
Don't limit or short-change yourself. You are only young once!
Singapore Man of Leisure (welcome to my blog; just google it!)
