Patience in business is essential
"The Exchange is a mechanism by which money is transferred from the impatient to the patient.". Warren Buffett
A famous phrase that I share with the community, and even though it is directed to the stock market in specific, when it has been said by what is considered the best investor of all time, I think it is not a phrase applicable only to what is the stock market but to business in general.
Nowadays, largely as strokes of luck, there are people who have made great fortunes in a very easy and fast way, for example with NFTs. We know, it is a new market as in everything new these explosions are common, but it is not the usual, it is not the constant, and these majestic gains are not for everyone, since not everyone can have that luck to buy a NFT at $ 100 and a few days later it is worth $ 100k ....
Therefore, the safest bet is usually the one that gives us the least profit. We know that there are projects that offer up to 100% per annum, or more, but they have their risks, and usually some project that offers less will be a little less risky than the others. It is a kind of rule, which we can see with some frequency. However, a project offering a small APY is not a guarantee of safety either.
Every investment involves risks, it is logical, there is nothing safe in the market, there is nothing safe. But what we have been able to see in cryptocurrencies is that patience, knowing how to wait, is something that ends up giving good results, the other issue is that we must invest in solid projects, that have a strong base, a project that has a good roadmap, that we can know the team behind it and what they want to do, this can allow us to aim for the long term.
In the market it is constant to see that many projects start and after a few months or weeks, all those who entered with the intention of quick profits end up leaving, pretending that they have achieved their goal, and in a certain way, yes, they have, they have obtained a fairly good profit margin. But, the detail is that, after some time, perhaps several years, this project manages not only to maintain itself, but it catapults, and all those who remained in it achieve a greater and constant profit.
Therefore, patience in business is something fundamental. Sometimes we can fall into the news of some people who predict the end of a certain project, or that everything is going wrong, that a competitor has come out that will end up bringing it down, but at the end of the day, we are the ones who must make our decisions about our money. In order to try to make as few mistakes as possible, the logical thing to do is to educate ourselves, only this way we will acquire information that will allow us to filter what we read and where we decide to go in terms of business.
Therefore, filling ourselves with patience implies educating ourselves not only with knowledge but also with the ways to be able to control our emotions, which in the end, if we let them rule, we will end up making very bad decisions.
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A good business man if you will see is having always patience in life and business as he need to do business it's not a one time process.
Slow and steady always wins the race it's like having good patience and keeping your mind cool and take decision.
Very well said that passions is very essential in business because when we start any business we don't know how much time it will take to get stable and grow. Nice topic
Greetings @josevas217, I hope you are well, it is very true what you mention, to acquire certain profits in some cryptoprojects, we must have a lot of patience, wealth is not achieved overnight, the idea is to enter into projects that are sustainable.
So long, have a great weekend.
We have to take the time to make things last as long as we want them to. Patience, and work
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Dear @josevas217
Finally I've managed to find some time to check out previously bookmarked publications. Good read. Upvote on the way.
Patience is a key. Either in business, study or relationship. Without patience things will always be harder. Nothing new here.
Question is: how to become patient. What to do to develop that skill? And I think that learning to listen to others and consider different point of views is necessary step to achieve goal of being more patient.
Wouldn't you agree?
Have a great day :)
Cheers, Piotr
Yes, indeed, it will help us in everything we do, not only in business.
People who are more insecure tend to be more impatient than the rest (this is a personal opinion).
Therefore, if we are sure of ourselves, if we also recognize ourselves as imperfect, we will understand each other better, we will respect that each of us has our own rhythm, and evidently, patience could be something we develop.
It seems easy, but it is not. I don't know if you agree with me @crypto.piotr.
Hello @josevas217!
Patience is actually everything when it's about business which includes all aspects of it and one of those is crypto for sure.
For me, it's always better to wait and be picky when it's about crypto investments, whether it's yield farm or trading or anything else. As having higher standards requires patience for them be fulfilled and that's they key for success for me.
Thanks for sharing!
Patience and high standards, the latter is a very important point, no doubt. Great contribution. Thanks
Dear @josevas217, there is no perfect line of business without its own struggle and down time, running a business with a great deal of patience and understanding of the business is important .
Time they say, exposes so many things, with patience, one can get to unveil if a project is going through a temporary turbulence and get rewarded when the project is back on it's feet, or simply back out on thr other hand to avoid getting intobmore loss.
That's a part that not everyone wants to assume, that when giving time we can also fall in cue already that it's not going well and merits backing out or giving up.
This advice you share with us is completely true, without the necessary patience and foresight, anyone can lose their money in the business world. Also, time would tell us if the business is maintained or not, since it is purging the market little by little and projects without solid bases fall into pieces until they disappear.
The businesses that will be maintained over time are very few and it is very difficult to know without enough experience.
#affable #venezuela
Everything must be given its due time, this is the only way to mature the projects and see how far they can go. Thanks for your comments