I failed my CFA twice — This is what I did

• You need at least 1,000 hours to pass all three levels.
• Only ~45% of candidates have passed each year.
• Taking it means saying goodbye to movie nights and drinks at the bar with your buddies.

I struggled along the way. I’m never the smartest person in the room. And my exams are usually full of Cs and Ds. So, I had to work the hardest to climb one of the highest peaks of finance — to get into the industry.

But I was taught one thing: attitude is EVERYTHING.

I knew I wasn’t just interested in finance. I had to be obsessed over investing.

I knew I didn’t just want to be an analyst. I had to be obsessed with becoming a full-time investor.

You see, I realized having the right attitude puts you in the right mental state. It’s that special mix of determination and persistence. It’s that quiet force that keeps you keeping on.

This was despite dealing with my own fear, guilt and anxiety – Yup, that’s my inner judge calling.

Because how you feel affects your thoughts. And your thoughts affect your actions.

Konosuke Matsushita was the founder of the world’s biggest consumer electronics company in the 1990s – Panasonic.

In 1917, he left his job and with savings of less than 100 yen, started business at 23 years old with his wife and brother-in-law. Matsushita-san came from a poor family. And worked his way up. His first product?

A bicycle lamp socket – simple. Yet innovative.

During his early years of the business, it was tough. At one point, Matsushita-san had to pawn his wife’s kimono when he found himself short of money. His company almost went bankrupt. Over the years, he continued to meet with roadblocks and obstacles.

Today, Panasonic has over 230,000 employees. Matsushita-san was a billionaire. He was one of Japan’s greatest entrepreneurs. And often called the “God of Management”.

When he retired, he continued to write until he died at 94 years old.

He’s one of the most persistent, determined entrepreneurs I’ve known. To him, attitude is EVERYTHING.

He had three big principles he lived by:

1. Positive Thinking

At one point Matsushita-san’s company was struggling to survive during World War II. But he was determined to do everything he could to rebuild his business.

Positive thinking is the key to success. However, you can’t suddenly start thinking positively at a time of crisis. He says:

For example, he tries to pay attention to the strong points in an employee rather than his or her own weaknesses.

2. Finding Your Niche

Matsushita-san believes it’s our responsibility in life to do what aligns with our strengths.

He said: “More important than anything else was that I found my niche at a fairly young age and I stuck with it. To put it another way, I put myself in the slot that was right for me notwithstanding all the risks involved. I embarked on an adventure into the unknown with only the vaguest notion of where I was going. Security was not my goal, not even a factor in my decision. Yet I knew I wanted to get into a stable business. I was determined not to repeat the mistakes of my father who had squandered our family fortunes through speculation on the commodities market.”

3. Set Big, Hairy Audacious Goals

When Matusushita-san created a new square battery powered lamp for bicycles and wanted to distribute these lamps for free as marketing. So he went to his supplier, Okada-san, to ask for 10,000 batteries for his bicycle.

Matsushita-san said: “If I succeed, give me 10,000 batteries free. If I fail to sell even one short of 200,000, I won’t take one free battery. I know I can do it.”

His supplier thought he was crazy. His wife went speechless at her husband.

By the end of the year, Matsushita-san had sold 470,000 batteries. This was more than double the number he had promised his supplier.

You see, at the end of the day, we’re our own messiah. We chart our path by design, not by default.

I admit, there are times I get distracted and procrastinate. But I choose to focus on what ultimately becomes our reality.

Whether you want to achieve your own financial freedom, get into your dream job, build your passive income and compound wealth, pursue your passion, I believe attitude is EVERYTHING.

• Focus on your biggest tasks
• Keep things simple
• Have the desire to learn
• Keep on keeping on

That’s the best way to motivate your greatest ally: the one in the mirror.