"An investment is a speculation that has failed." This is a stock-exchange truth: people who think to turn rich overnight by speculating will end up with an investment portfolio they hold-on to because they are not willing to take the short term loss. They defend their investment "strategy" with the slogan: "This is a long-term investment."

You hear it a lot: "it requires persistence.., you need to persevere in reaching your goal… Only a few will get there without real effort but only a bit of talent and luck, most need a continuous struggle and have to endure their quest to achieve success." This seems very logical, something you would easily agree with, but is it the complete truth or does it cover up the real essence why things (setting up a business, finding your way to the nearest top, etc, etc) take so long?

What causes things to take longer than "planned?"

Rather than persistence as the main drive for success I would argue that overcoming resistance to personal change is what holds you from success. If you are starting a business you are per definition a newbie, unless those who have succeeded before and feel strengthened by setting up just another new business. But in all those other cases, starting a business means a turn in your live and a change to handle.

Before you start you do not know your own strengths. And strength is what you have to build up. The novice investor needs experience and a continuous training to get strengthened in investment. Yes, it requires persistence to gain this strength because if you quite to soon you will never know what strength you could have build up. This is equally truth for investment, bodybuilding or for entrepreneurship.

Then you will also make all kinds of mistakes, you will have to learn from. All this indeed requires persistence – again – but more important it requires to understand that you have to change so that you no longer make those same mistakes.

The inexperienced entrepreneur, manager…is like the beginning investor on the stock market. Once looking back you think, "have I done that, and what happened to the value of my portfolio." But up front, it is hard to predict how it could have been different. You cannot predict the market, sometimes you are too soon and sometimes your ideas come too late. Many investors loose and pay "learning money." This is no problem as long as you continue (persistence) so that you will regain this loss. Otherwise you'd better not start it.

Whatever you pursue, entrepreneurial success or becoming the best engineer, the best investor, being persistent is important. More important is to know whether this attitude to pursue fits you, because on your way you will meet loads of other opportunities that you will have to let go.

© 2007 Hans Bool

Hans Bool writes articles about management, culture and change. If you are interested to read or experience more about these topics have a look at: Astor White or sign-up for our newsletter.