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03. You’re Terrified of Failure
Whether it’s starting your own business, investing your money or buying and selling real estate, there are always risks involved when building wealth. But as the saying goes, no risk, no reward. If you’re terrified of failure, you’ll never experience the sweet taste of success.
It’s also important to keep in mind that many millionaires and billionaires have endured failures on their road to success. However, instead of giving up, they learned from their mistakes and persevered. One’s psychological response to failure is a big factor that separates the rich from the masses.
“Very few people hit a home run their first time at bat,” says Siebold. “Most people who fail retreat back to their comfort zone, never to be heard from again. Meanwhile, the rich are failing just as often but continue to push their personal boundaries until they succeed.”
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