Confidence & Competency Loop

There’s something called the Confidence and Competency loop whereby the more Competent you are, the more your Confidence increases in the particular subject.

Age doesn’t necessarily preclude this at all so there are 50-year-old’s that are not very good at Real Estate (even if they have been in the game for several years) and they don’t do as well as a cutting edge Competent 19-year-old like you.

I made a video about my research into talent and I found that length of time in a field doesn’t automatically make you Competent at a thing; this is the standard people believe though.

Quick example: Often new graduates are better after only 4 years of work in a field than 20-year old “veterans”. Using Accounting as a prime example. An eager mind studying for 4 years may be more up to date, engaged and better at the work than a faded 20-year worker who has not kept up to date with the field.

But one thing Age gives is the experience.

However, experience isn’t wisdom; meaning the extraction of the lessons from experience is what makes Aging really great. This is because as you get more Competent from sticking to something overtime your Confidence is increased to the point you are calmer, clearer, collected and more detached from the outcomes.

Wisdom is the end result win and actually compounds your success over time - hence the “life compounds on yesterday’s effort” comment.

So stick to the thing you want to do and decide to be the best at it because it’s in 20 years from now you’ll REALLY see amazing returns making the daily grind worth it.

Vaughan.