He's also a private pilot and talked about how in pilot training one of the most critical lessons you have to learn is how to pull out of a stall. That's where your plane slows down to the point where the wings no longer create enough lift to hold it up and it starts to fall out of the sky.
The natural reaction for someone who doesn't understand the physics of flying is to pull back on the stick with all their might to try to get the nose of the plane to go back up. However that is exactly the wrong thing to do! It will result in a dangerous crash every time!
The real answer is to overcome your fear and push the stick forward to point your nose down so that you can begin diving to pick up enough speed to get the laws of aerodynamics working for you again!
Wow! How interesting that our natural reaction to a dangerous situation is to do exactly the wrong thing and make the situation a lot worse!
His analogy was that this is exactly the way that most people react to a bad economy.
We pull back on our financial stick. We quit spending our money and get ultra conservative with our finances and just try to wait it out. He said he wasn't advocating wasteful spending and not learning to be more wise with our money. But he was talking about our natural tendency to pull back or pull inward instead of shoving the stick forward and chasing the tremendous opportunity that a bad economy represents!
What??? Hmmm...
What is business all about? Filling a need that we find and being fairly compensated for it right? When do we find a greater need than in a bad economy???
His point was that people who understand wealth and finances find a way to fill THAT need and they prosper even in a bad economy!
They are busy shoving forward on that stick and gaining speed and momentum because they understand the true principles involved!
That really got my brain to churning! How about you?
Have a great day!!!
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