I there is one thing our generation suffers from most… I could argue it’s a severe lack of patience.
This isn’t our fault; this isn’t your fault.
We have been conditioned since birth to lack patience due to rapidly changing technology. Our generation is blessed with technological advantages that allow us to skip years of learning and get information at any time we want.
BUT… Technological change presents us with disadvantages as well. We can get anything we want at the swipe of a finger. If we want food but can’t be bothered to cook… Uber eats.
We can watch almost any movie at any time, we no longer watch T.V. shows one week at a time. We binge them in a week.
- T.V. shows
- Information about anyone
So you can see what I mean when I say its not your fault. And if you had terrible parents, that might have just thrown an iPad in your face whenever you winged or moaned, contributing to your lousy patience every more.
“We have lost the ability to daydream, to sit still.”
Having our phones in our pockets at all time has completely squashed our ability to be alone. To sit still and be with our thoughts. The second we are alone we pull it out and start scrolling or messaging.
I know this because I do It as well. And it is something I am continually working on improving.
How does this affect us long term?
Unicorn companies like Uber, Airbnb, Facebook, Google ect have lead us to crave instant business success.
How many people have the goal “be a millionaire but 25, be a millionaire by 30”. Why? And More importantly, how?
Building a business, a personal brand or climbing up the ladder in business requires time. It requires patience and a lot of learning. You can’t just start something and expect it to grow to a million in 6 months.
Two of my best mates started a company in January 2020, and they hit $1m in revenue in August 2020. But let's look at what it took to achieve $1m in 7 months.
They have been in small business and marketing for over a decade. They have started multiple companies and failed. They have gone through business training programs and worked for top marketing companies in Australia. They also spent a year before launching developing, creating and designing their product whilst still working part-time jobs to survive.
Their rapid success looks rapid on paper, but when you analyse it deeper, you will see it actually required a lot of patience and lots of learning.
“It took me 17 years and 114 days to become an overnight success”
- lionel messi
All these “Tik Tok Entrepreneurs” and “gurus” online selling you course that claim you will become financially free or instantly successful make millions of dollars scamming people because everyone wants instant success and instant wealth. They prey on that factor.
Lets take BITCOIN.
Or Crypto currency, When Bitcoin blew up, people made millions seemingly overnight. This lead millions of people to invest into crypto and bitcoin, which meant that price of these currencies decreased. Everyone invested because they wanted instant results and wanted to double their money now.
The S&P 500 is a very safe place to invest your money. It is a low risk low reward scenario. But it is low reward short term… The S&P500 has increased consistently by 10% over the past 100 years. Meaning long term you can make a lot of money.
So if I could wish one skill on young people it would be patience, followed very closely by self-discipline, the two are tied together.
Start analysing yourself. Every time you are alone, do you pull out your phone?
Can you sit by yourself and be comfortable?
Are you chasing an instant money opportunity?