by Chinkee Tan
We have heard time and time again that in business, TIMING is EVERYTHING.
This is very true for those who are in the stock exchange or foreign exchange industries. Timing is very important and having the right instincts are even more crucial.
But when do we really know when the timing is finally right? What are the signs that will tell us that the time has come for us to make a decision? When do we start? When do we know it’s time to give up something?
These questions will best be answered by EXPERIENCE. However, as early as now, we can all try to learn about the real nature of timing and what it involves.
1. TIMING IS LEARNING THE ART OF WAITING
Simply because something is trending or fast becoming a hit, it doesn’t mean that it is the right time to ride the bandwagon. Quite often, we realize too late that we should have waited for the appropriate time before taking ACTION. The length of time varies from one person to another. The length of time I waited for my breakthrough may not necessarily be the same as yours.
2. TIMING IS LEARNING WHEN TO BUY
Whether you are investing in stocks or retailing rice and other commodities, knowing the best time to buy makes a lot of difference. For one, we do not only want to avail of a good bargain, we also want to compute our potential returns in a pre-identified period of time. In buying, we also have to ensure that we will be able to dispose the items in a reasonable length of time so that we can reap the benefits.
3. TIMING IS LEARNING WHEN TO SELL
Just as we develop the ability to know when is the right time to buy, it is also highly advantageous to know when to sell. Is the market ready? Do people have money? Is our product a demand at the moment?
4. TIMING IS LEARNING WHEN TO STOP
After weighing our potential to earn and grow our wealth, we should have the sensitivity to identify when it is finally time to stop. Whether as a retiree or an investor in another business venture, having the ability to evaluate whether it is healthy for us to continue or not will come in very handy if we want to succeed.
5. TIMING IS LEARNING WHEN TO SELL AND GO
We need to be able to do our own research and study thoroughly what we are getting ourselves into. Let us not go blindly into something. Remember, it is our MONEY, TIME, and ENERGY that will utilized.
6. TIMING IS LEARNING THE ART OF NOT BEING TOO GREEDY
Once we have reached our target, we should be able to say, “I am done. Now I can enjoy the fruits of my labor.” Surely, we all do not want to be working until we are old. We still want to be able to enjoy the fruits of our labor even at a young age while we have the strength to do so.
THINK. REFLECT. APPLY.
Do you have good timing when it comes to money? What areas do you need to work on where it concerns timing with money? How can you apply these lessons in your financial journey?
QUOTE
TIMING is EVERYTHING. Learn the art and master it. Perfect timing will take you places.
