Setbacks and Success

When I was younger the ultimate definition of greatness for me was Michael Jordan or Steve Jobs. I aspired to be like that. I learnt a lot growing up reading everything I could about them.

I have always been fascinated by those who reach the highest level of achievement in their chosen field. I am interested not just in their achievements but their mindset and what really makes them tick; what lies deeper down that drives them to succeed.

When I wrote my weekly note a few weeks ago about consistency, I reflected on why I place such a high value on routine. It occurred to me that there are two types of people who achieve their goals. There are those that are disciplined and so they have a strong routine, then there are those who need a strong routine to be disciplined.

Those in the first group have always seemed focused and methodical, almost robotic in their execution. I was never like that. I was in the second group and my biggest strength was that I was determined. A lot of successful people across all types of fields fall into the second category.

Often, it is the setbacks, disappointments, and trauma in life that underpin their drive to succeed. Michael Jordan was cut from his high school basketball team; Steve Jobs was fired as CEO of his own company. Yet in both cases they were determined to come back stronger than ever. Their determination to succeed was fueled by their failures.

They did not accept failure or shy away from it and did not let it define them. Instead, it was the catalyst for who they became. When you are determined to succeed, the overriding focus is not winning. It is often about refusing to be beaten. That does not mean you never lose. In fact, losing is one of the best ways to learn and get better.

That said, neither Jordan nor Jobs had a reputation for being tolerant of anything less than perfection. In society, those we put on a pedestal are not necessarily the people you really want to be like. Often the best of the best are driven to achieve not only despite their flaws but because of them.

The point here is that the level of success that anyone achieves is often a far uglier and traumatic process than we realise. Even the toughest of times are romanticized in the storytelling. The truth is that working out how to succeed is usually a series of iterations or small wins that accumulate into a larger achievement.

My routine was born out of many years of trial-and-error and finding what worked best for me. It certainly was not how I have always worked. Success in any field is a lot like life itself whereby no matter how ‘together’ or successful someone is they are still trying to navigate life and all its challenges the same as the next person.

General Disclaimer: This information is of a general nature only and may not be relevant to your particular circumstances. The circumstances of each investor are different, and you should seek advice from an investment adviser who can consider if the strategies and products are right for you. Historical performance is often not a reliable indicator of future performance. You should not rely solely on historical performance to make investment decisions.