Recently, a friend of mine posted a link from a site Wallstreet Playboys entitled “Top 10 Reasons Why you are Broke”. Being as how I teach jiu jitsu and I am a grad student, I am always broke and decided to give this a read. What I took from this was although yes, I am broke and have not applied these principles to my financial life, I have applied plenty to my jiu jitsu life. One tenant in particular is the following:

You Don’t Take Risks: If you are 18 years old and you believe spending the $5K you have saved up in muni-bonds you don’t deserve to be rich. If you are young the most important business you must invest in is yourself. Build equity in your brain. A few extra thousand dollars investing in yourself to learn how to code, learn a language, read books will outweigh the $350 a year you earn by doing nothing. If you want to become rich with no risk, please leave this website because the truth is hard work and risk are the only ways to make money, if you believe in guaranteed success with no hard work or risk we know who you are.

I encounter a lot of students and lower ranked belts that hit “plateaus”. I remind them that the reason they keep encountering the same problems is that they keep on using the same tools to achieve the same goals. One must always remember that trying new things will always lead to different results. Fear of failure is going to be your biggest downfall and it will consume you until you give up or get hurt. Always be open to trying new things because when you start to succeed, failure will be your best friend and learning from your mistakes will be your best teacher.

“I have failed over and over and over again in my life. That is why I succeed” -Michael Jordan.

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