In this live, we talk through ways that will help you navigate on being fearful and what action steps you can take to look at the opportunities which is the antidote of feeling fearful and suppressed.
Hello, everyone. Basically, what I want to talk about today it’s around that dilemma, about what to do when you really don’t know what’s happening and things feel very uncertain and there’s a lot of conflicting information. And so I thought I would come on and just really have a bit of a chat about it and give you some insights.
Now, Warren Buffett has a saying something like “Be fearful when others are greedy and be greedy when others are fearful.” Basically the old zig one other zag. So in terms of thinking about what you should be doing and in relation to what everyone else is doing and I wanted to just break that down a bit. The first thing to really think about is are you feeling fearful? I think a lot of people are feeling fearful at the moment and feeling very unsure because there’s a lot of information around you can tend to sort of go down some rabbit holes.
Be fearful when others are greedy and be greedy when others are fearful.
But before I talk about how to deal with that or certainly how I’m dealing with it, how do you know if you’re fearful? Because often it’s really deeply seated, like very deep within and you can be sort of looking and feeling okay on the surface but there’s stuff going on within you that that is having you feel fearful and stressed.
When I was at a conference recently there was this amazing woman, her name is Rhonda Britten. She’s from the U.S. and she talked about a process that she has developed. So, when someone’s doing a talk and they give you their story and usually there’s some really bad thing that’s happened, and that was the epiphany when she gave her bad story. Oh, my god. It just was like nothing I’ve ever heard. Just basically what happened to her was when she was little or she might have been like a young teenager. Her parents were breaking up but they were going out to have dinner. I think it was on Mother’s Day or Father’s Day and she was out at the car waiting with her mum. Her dad was putting things in the car and now waiting for her two sisters to come along. And basically, she thought her father went to get his jacket out of the boot but he actually got a gun out and shot his mom and actually went to shoot her as well. Now, talk about if you could drop a pin in the room. And so I thought, “Oh, my God, if anyone’s qualified to talk about fear, it’s you.” And so she was talking about the different ways that fear manifests and how to tell if you really are fearful because often it’s not that obvious.
And so basically what she was saying and I thought this made a lot of sense, was that when your behaviour is not reflecting really who you think you are. I know that I’ll get really annoyed with myself because I think I want to be so productive and for some reason I just have not got this stuff done, and so procrastinating. And basically, that is the impact of fear. So obviously, something is impacting making me feel fearful at a really subconscious level and so it manifests in procrastination.
Some of the other things that might be happening: you might not be sleeping well. Some people might be trying to numb themselves with alcohol, with drugs, with food. Another sign is really being overly busy but busy not doing anything substantial. So there’s lots of ways that fear can impact you and I think it’s important to actually recognise that. And it’s certainly something that I often find that it’s going on for a while before I figure out “Hey hang on a tick”. I’m never a great sleeper so that’s never a sign.
It’s really about if your behaviour is going against your values. If you really want to be an energetic, productive person and you’re finding yourself being a couch potato, usually there’s something at the bottom of it. Firstly, identify whether you’re fearful and switch it. The opportunity here is that being greedy, I don’t really like the word greedy, but you get the point. Being greedy when others are fearful really talks about not subscribing to the herd mentality because often what happens is everyone just follows the leader and goes off and follows whoever’s speaking the loudest. And in reality, they’re not really surveying the situation and seeing the opportunities that may be directly under their nose and we all know that adversity does bring opportunities.
Before I go on, I just want to tell you this really lovely story that’s got absolutely nothing to do with what I’m talking about or it may have, actually, but anyhow. We get the Wayside Chapel newsletter and the Wayside Chapel for those of you who aren’t in New South Wales is an organisation that provides meals and support for homeless people. And so over the last few weeks, the government has provided hotel accommodation for homeless people. And so the pastor writes a letter each week talking about what’s happening there and if you’ve ever donated to them, you’re on that newsletter. And I have to tell you, I have donated to them spectacularly. I actually paid $2K for a little bottle of honey once at a fundraiser. I figured that I qualify for the newsletter but that’s a result of too much champagne and the charity auction, always a bad combination for me. Anyhow, this man who has been homeless for many years came into the center to talk to him. And he said, “So how are you?” And the man said to him, “I’m good, after being in a hotel for 3 weeks I have decided that I don’t ever want to live on the streets again. I had forgotten what it was like to get a good night’s sleep, to be able to have a shower in the morning, to be able to do all the things that normal people do.”
And so in the past, he had not been interested in getting help to get a home because it’s a bit like, documentation wise, it’s a bit of a carry on. But that’s a great thing that’s come out of the Covid shut down. It made him realize what he’s missing and that gave him the strength to think he can do it, so he came in and asked if he could help him to be able to get a home. A happy story and I’m sure at some point fear was one of the things that drove him to the life that he chose to live.
If you are fearful. How do you switch that? How do you switch it to make considered decisions in this time and not be driven by fear? And so actually the first one is gratitude; being grateful for the small things. I think it’s an incredible antidote to fear. If you’re really looking at what you have and in other people’s eyes it may not be, they may not see it as being amazing but you have to look at it through your own eyes.
And it’s really interesting because I was actually talking to one of our communities this morning. And she’s been in Wonder Women for over a year and she spoke to me this morning because she let me know that she’d just been retrenched. And she has just had such a crappy time in life, like pretty much everything she’s tried to do has not gone very well. And I rang her straight away because I thought, “Oh, my God! She is going to be concerned” but I was so proud of her because she said in the last 12 hours since she got that news, she’s been meditating. She’s been looking at what she’s got she’s being grateful and she actually feels quite calm and knows that she’s going to be okay. It absolutely works. So really looking and being grateful for and being grateful for the small things not just the big, amazing things that you have.
2. Filter Information
The second thing is filter the information. Now, there’s a lot of stuff in the papers, on the internet, on the television. Now, I want to tell you something. Nobody knows what is going to happen. Nobody knows what’s going to happen with property prices. Nobody knows like we’d like to think we’re on the home run with the Covid virus and the lockdown but we really do not know. And when people are getting up there with sensational headlines like property prices are going to drop 30% almost all the headlines come from businesses that are pushing their own agenda. Now, that does not necessarily mean that they are bad. All business people or all businesses when they are involved in publicity will make statements that are designed to get people’s attention. That’s what they’re about. And while they need to have a little bit of an effect in them, they don’t necessarily contain facts. You’ve got to be really, really careful about the information you’re taking. Just don’t listen to anything like, seriously the news. It’s fine to listen to it but don’t take it on board because nobody knows; not even all the experts in the world really don’t know what’s going to happen with property prices.
A large percentage of property price fluctuations are as a result of buyer confidence, people being fearful or nervous and that is driven by the media. I want to encourage you to look at the facts and that, I think, will make you feel better. And by facts I mean real facts, not the facts from the headlines. One of the things that we know is that there has been a reduction in buyer numbers and there has been but there’s also been a reduction in stock because most people are holding off selling property unless they absolutely have to, because they are concerned that they’re going to get less for it.
From our point of view, we just really want to be mindful but not concerned about it. Just watch it and if the opportunity arises then be ready to act. What I suspect will happen is that and this is just my opinion, it’s definitely not a fact that once all the government payments sort of fizzle out and then people absolutely have to sell because they can’t hold them, there will probably be some really good buys around then. There are some good buys around now but on the whole the figures are not showing drops in pricing. In fact, some areas the prices went up in the last month but I would be looking just keeping your eye out for what is available.
3. Take Action
Which brings me to the next thing, which is to take action, which is the antidote to feeling fearful and suppressed. Some ideas on things to take action. Firstly, I am definitely looking for my next project because I think that I’m going to find something that’s going to be quite a good deal. And I’m probably looking for something that’s got a reasonable amount of fat in it so that I’ve got a decent amount of buffer. But the other things to do in terms of action are random acts of kindness I think are a really good thing to do at a time like this because it takes very little effort to do and it makes you feel better and it also makes the person that you are focusing on feel better as well.
Just little things like Stephen and I bottled up some of our honey and gave each of our neighbours. We live in a big factory building and we’ve got 4 neighbours, we gave each of them a jar of honey and just left it with a little goody bag on their front step with a little happy Covid message. Just little things like you probably already do this but I’m not much of a texter, but I’ve really been making a point of keeping in touch with people that I don’t actually see that often and I don’t ever text, but just texting to check in to make sure that they’re okay. And it’s re-ignited also some friendships that have sort of gone a little bit by the wayside. So just doing little things to make a connection, I think is an amazing thing.
The other thing is some you may or may not know there’s a new volunteer organization setting up. So I’m definitely putting my name down to do a little bit of volunteering. I used to do it a lot and I haven’t done much in the last couple of years. I’ve decided just a couple of hours a week I think anyone can spare that. To share some of the love and make sure that it’s not just our world that’s changing but me as well.
And another thing that you could do at the moment is to work on the interest rates on your loans because I think the a trip would say put out a report to say that the banks have been benefiting from lower funding costs but not necessarily passing that on. In the first instance, talking to your lender to get them to review your rate because that can actually make a significant difference. And the second thing is to maybe consider refinancing depending on where you’re at. Just some practical ideas of things that you can do at this period of time and don’t discount the possibility of doing a project. Just make sure you’ve got plenty of buffer in it. That’s my little spill for today.
An Inspiring Project
The other thing is I just wanted to show you, I said I’d talk about a little project that I’m doing. I’ve got so many half done projects because deliveries are terrible. I’ve ordered doors for the spare room that I’m doing and handles for it. Two months ago were going to be two weeks and still haven’t got them. I’ve ordered brass wire to crochet a pair of light fittings that hasn’t turned up. I’m just getting really frustrated with it. Stephen’s cranky because he ordered a new camera, which he got. But the flashlight that was supposed to be two weeks is apparently a month late. And of course, boys and their toys, they get very impatient if they don’t turn up.
This used to be one of those balinese wicker pendant lights and so what I have on, I’m spraying it. So I started with a gloss white but I went and got some chalk paint because I think it will be a nicer look and so this is for a room that doesn’t have PowerPoints beside the bed. Basically what I’m doing is I’ve got an extension cord, a pair of extension cords, I’m getting one end wired with a lamp holder. Basically, we’ll put it through like this. Get it wired up and then the cord will go up to the roof. There’ll be a hook and then it will come down and plug into the light switch. So that’s this week’s project. And so it’s going to take a few coats to cover it. Basically with spray paint, you really need to have a little spray painting booth. I had a cardboard box that I was using and someone threw it out. I have to go and find another one to finish the job but just keeping it moving with things.
That’s the thing that I’ve really loved about this time is having the time to do some things around our own house because that in itself helps keep you sane. I’d be really curious to hear what you’ve got to say.
Boardroom Bootcamp Online
The other thing I wanted to mention is we’re going to be running our bootcamp online in May, in late May for the first time ever. I’ve just mapped out the contents of that. For me, I really got a thing about online courses because I know a lot of people buy them and they don’t do them. And I personally think that with property you can miss some critical information if you don’t do them. I’m designing it with belt and braces to make sure that we cover the critical work. I’m slotting in some assessments and making sure that it delivers the important messages. And I’m going to be running a beta, which is sort of like not really a test but just so I really want to get some feedback on things to make sure that it really does deliver.
If you are thinking about doing some training, I’m going to be offering a coupon for that beta test. It’s going to be significantly more affordable. Just send your details in or just send this in an email and let us know that you’re interested. And we’ll be releasing the details tomorrow actually, just about finished the work on it. So that’s it. That’s all I’ve got to say today. Thank you to everyone who is part of our group and inspiring one another with your amazing projects. It’s really heartening to see and take care and enjoy your day.