Becoming Your Own Simon Cowell

Okay – tell the truth. Even though it can sting a little…don’t you find you appreciate honest, good quality feedback? There are very few people who give us straight advice about anything…especially finances. How am I doing? Could I do better? What needs improvement?

In short, many of us need a Simon Cowell.

I find it kind of painful to watch many of the auditions for shows like American Idol. If you think about it, doesn’t this kind of sum up the average American – Dancing – With – The Voice – Talent contestant’s thought pattern:

  • Decide that it’s easier to work your way through a competition than to pay your dues and learn your craft.
  • Fail miserably (and publicly) because you weren’t ready for prime time.
  • Blame the judges for not seeing the unique talent that is you.

That might sound harsh…but notice the contestants who make it through the audition process and even go on to win. Hear their story. Usually, they’re the ones who came to the show most prepared.

Imagine you’re going to perform for Simon Cowell:

Shouldn’t you make sure you’re absolutely polished before the show? What will you do to make sure you’re ready?

You’re going to hone your craft until you know every inflection, every note of the performance. By the time you’re finished, you’ll even know what the writer was thinking when they wrote the song. You won’t just sing it…if you’re ready, you’ll feel it.

When it comes to financial planning, it’s the same.

Some people hope for riches, throw money at the next hot thing and then blame everyone but themselves when they aren’t immediately wealthy.

They called men like Carnegie, Rockefeller and Vanderbilt “Robber Barons,” but these titans created millions of jobs and wealth for many people.

They knew their craft inside-out. They didn’t hope for a good outcome and “wing it.” They created opportunities and intimately learned their field.

I read recently that Lance Armstrong, the seven-time Tour de France champion could feel a difference even if there was less than one ounce of extra weight when he rode the bike. One ounce!

That’s knowing your discipline.

How wonderful would that be? Imagine: you’re riding a bike and know instinctively the signals most of us take for granted. Is your chain slipping a little? Maybe your shoe isn’t placed just right. What’s the fastest way down this hill?

You’re processing information quickly and making split-second decisions. You’re a pro. That’s what you want to be with your craft AND your financial picture.

When it comes to managing your money, here is the tough Simon Cowell question:

Are you prepared or winging it?

If you don’t like the answer, don’t worry. Financial success is a long, but fruitful journey. As you grow in your ability to take care of your money, you’ll develop talents. Most of the skills you’ll pick up will become second nature.

If you keep your head down and hone your skills, when you look up you’ll be well up the mountain looking down at those people blaming the weather, the guides and the judges.

But you probably won’t look long, because once you’re halfway up the mountain you’ll know there’s still more to climb.

The following steps are key to powerful, consistent financial growth:

Ask yourself “how am I doing?” Write down your answers. Determine a course of action.

Commit to ongoing study. Never stop learning! Find the books and workshops that will allow you to continue to develop your financial knowledge.

Seek out good mentors. Sometimes it takes an honest outsider to help you reach your goals. If you feel like a personal guide is what you need to create consistent and lasting growth in your financial life, check out Abundance Bound’s Personal Finance Coaching.

Consider approaching your financial picture with a bit of that Simon Cowell honesty. It might just help you take the steps needed to create your own success!