Page 504 - THE MARKET WHISPERER

500 PART 16 - Preparedness and Empowerment

If you want to succeed, use other people’s knowledge and emulate the
successful. You don’t even need to come up with an original idea. Did Steve
Jobs invent Apple’s graphic interface, the mouse or the iPad? No. He took
existing ideas and upgraded them to such a state of perfection that he
created an entirely new market. He fine-tuned solutions and took action.
Nor did Bill Gates invent the DOS system which turned him into such a
wealthy individual. He bought it from an inventor who did not realize its
inherent potential.

A Role Model

Success does not require you to reinvent the wheel. Find a working model
and copy it. I am not suggesting you give up on being the next inventor of a
dot-com enterprise. I am just trying to stay practical. From the experience
of decades of business activity, I’ve learned that the chances of success are
higher when emulating and improving upon existing products, knowledge
and methods. During the dot-com bubble era, I failed in my attempts at
inventing products and services which I was sure would change the world.
But I did succeed in improving on existing ideas and products. Nor did I
invent day trading, but I was the first to turn it into a model for schools and
brokerage companies operating in various countries outside the United
States. This was a successful model I initiated, which did not require my
own capital. I brought knowledge and entrepreneurial initiative to the
table, and recruited investor funds. My life was not one of successes only.
I experienced some tough failures, but I always kept one thing in mind: if I
don’t try, I won’t succeed.

Success does not need to follow a model of worldwide scope such as
Facebook. If a business is doing incredibly well in Los Angeles, there’s no
reason it should not do well in San Diego. I suggest you keep your eyes wide
open, find a worthy role model, copy and upgrade. If a stock trader is a role
model for success, there is no good reason why you shouldn’t contact that
person, learn from him or her, and try to emulate his or her success. You
have to believe that if someone succeeds, you can too! If you don’t believe
that, then first work on improving your self-esteem.

It is difficult to hide success. Successful people leave clear footprints. Go
after those footprints and try to copy the steps, one after the other. You can
do more than just copy: you can improve to such a degree that one day you
may be the role model for someone else. Never forget that for every action
you take, there is a price tag. The price is measured in resources such as