The Power of Focus

Hands up. Two months have flown past, and without a post. Time to gain some momentum.

We have a "banking crisis", interest rate rises and inflation that continue to rattle global asset prices, and most importantly the new tax year is well underway which means more benefits to exploit.

Opportunities are knocking, the cogs are turning, and yet we won't take advantage if we can’t manage where our attention is going.

Distraction is more available than ever, especially with the leap in technology usage. From social media, news headline FUD, to work deadlines, dramas, or personal issues. There is always going to be something to pull us off course, and I personally fell into the trap of excuses and not taking ownership of time.

So, todays post is to address the power of focus.

Managing focus is the most critical tool that makes the difference between success, failure, and even starting a task. That goes for trading, investing, and pretty much any discipline in life.

"Starters don't make money, Finishers do."

As a trader, we’d start every day at 7am and tease the desk with the question: “Ok ladies! How do we make money today?”. It immediately set the focus to finding real-time opportunities. What a great question. We’d rush to create ideas and contribute to the team. Focus is everything, and that’s how we level up.

“Where focus goes, energy flows.”

The problem:

It’s not that social media is too exciting. It’s not that we don’t have time. It’s not that we have more complicated problems to solve. In fact, anyone you speak to, their problems are more important than the next.

The problem is that most people spend their time and energy on areas that don’t make a positive impact in the direction of their most important goals.

“Don't major in minor things.”

“Don’t spend major time on minor things.”

How are you spending your time and focus?

"You get what you tolerate."

The opportunity.

The truth is that focus is a resource that’s totally within our control. At times we give it away freely, maybe without realising, but it’s our greatest superpower and something we must take responsibility for.

The new world is competing for attention more than ever (companies pay huge money for it - for good reason!), and yet each time we give it up, it should be an investment in the direction of where we want to be going. Simple.

With conscious focus, our reticular activating system will steer us into more of what we want: higher quality information, and better opportunities that can be realised.

"If you're not paying for the product, then you're the product."

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much.”

“We must all suffer from one of two pains: the pain of discipline or the pain of regret. The difference is discipline weighs ounces while regret weighs tons.”

Focussing as much major time on major things is the universal goal. That’s going to move us forward rapidly. Here are some great ways to eliminate distractions and keep on the course to financial freedom and personal goals:

1. SMART goals (Specific, Measurable, Achievable, Realistic, Timebound):

It's essential to have clearly defined goals. Whether it's debt repayment, building an investment portfolio, or trading goals. Whatever it is, having a roadmap will help you stay motivated and on track. Write down your goals, break them into smaller milestones, and revisit them regularly to reinforce your focus.

2. Manage Digital Temptations:

Start by identifying the biggest culprits stealing your attention. Social media platforms, online shopping websites, and endless email notifications are common distractions. Take control by implementing simple yet powerful changes. Turn off non-essential notifications, limit your social media time, and consider using website blockers to curb excessive online browsing. Remember, out of sight, out of mind!

3. Create dedicated Workspace:

Designate an area where you can concentrate without interruptions. Make it visually appealing and clutter-free, with all necessary tools within reach. Whether it's a home office, a quiet corner, or a peaceful café, find a space that energizes you and sets the stage for productivity.

4. Time blocking:

Set aside specific time slots for financial activities, such as budgeting, researching investments, or reviewing your portfolio. Treat these time blocks as sacred appointments with yourself and guard them zealously against interruptions. Turn off your phone or place it on silent mode, close irrelevant browser tabs, and fully immerse yourself in the task at hand.

5. Embrace Automation and Organisation:

Leverage technology to your advantage and automate repetitive financial tasks. Set up automatic bill payments, establish recurring transfers to savings or investment accounts, and use budgeting apps to track your expenses effortlessly. By minimizing manual efforts, you free up mental space to focus on more critical financial decisions and progress towards your goals.

6. Create a Peer group, and supportive network:

Surround yourself with like-minded individuals who share your passion for personal finance and investment. Join online communities, participate in forums, or attend local meetups where you can exchange ideas, seek advice, and stay motivated. Engaging with others on a similar journey helps you stay focused, learn from their experiences, and celebrate each other's successes.

7. Practice Mindfulness and Self-care:

Incorporate mindfulness practices, such as meditation or journaling, into your daily routine. Take breaks to recharge and indulge in activities you enjoy. Physical exercise, spending time in nature, or pursuing hobbies can help clear your mind, reduce stress, and enhance your ability to stay focused and make sound financial decisions.

8. Time diary:

Write a diary of exactly how time is spent throughout the day. Pay special attention to the time spent on distractions so you can identify where the day is going. This is the most powerful tool to identify the quality of your actions and where major time is being invested. The results will surprise you.

"You can't manage what you can't measure."

"Either run the day or the day runs you."

A call to action:

Distractions have cost me at least 50% productivity in the last month alone. To identify where the time has been going, I've been using the simple time diary which at the least immediately showed the real cost of social media!

Blocking time, and removing the digital distractions is an absolute must, and SMART goals only work if we follow through and take massive action on them. Mindfulness and self-care are a daily practice for me, along with physical exercise and yet I see it’s important to do these outside of major time to limit procrastination and time slippage. It's also important not to use more tools as a distraction from major time, the purpose is to maximise major time.

"If you don’t plan your time, someone else will."

"Without a plan, the target will always be moving away."

My peer group is chasing daily with trade ideas, real-time opportunities to invest, and pushing me to get moving and grow this platform. I am extremely grateful, and challenge everyone to look closely at who are your biggest influencers.

Some recent key areas I see major time impacted:

Social media usage, travel time, personal development courses, motorbike training and tests, family and friend meetings/calls, reading books, audiobooks, Netflix films/documentaries, restaurants and bars, coffee shops, lunches, inefficient gym sessions, timeless walks, internet browsing and research. The list quickly gets endless, and whilst it’s great to enjoy ourselves, there is a difference between enjoying life vs disconnecting from important goals. I also see that whilst training, learning, and growing are important, the real progress will only be seen when actioning things that we've learnt. Don't get caught in intellectual masturbation!

“Don't let your learning lead to knowledge. Let your learning lead to action.”

“You see, in life, lots of people know what to do, but few people actually do what they know. Knowing is not enough! You must take action.”

“You are not rewarded for knowing, only doing is rewarded!”

On the progress front, a few things to spur action in both personal finance and beyond: I maximised 2022 tax benefits as per my last post, invested 2023/24 ISA allowance fully, passed full motorcycle license, and travelled to Bucharest which is a great city! Long term investment action: I averaged into some strong dividend paying UK stocks at lower prices, increased both AI exposure as per previous post, increased exposure to China. With interest rate increases likely to slow moving forward, I increased EM bond positions which have been a poor performer over the past year. Reduced some fintech positions with a +50% gain and will hold some cash equivalents over the summer in hope that we see some more volatility and chances to add at lower prices. All comments/discussions welcomed.

iShares JPM EM bond UCITS ETF (SEMB)

L&G Artificial Intelligence UCITS ETF (AIAG)

iShares MSCI China A UCITS ETF (IASH)

Vodafone Group PLC (VOD)

British American Tobacco PLC (BATS)

For those who want to invest 5 mins reading, here is a nice post on staying focused by Tony Robbins:

https://www.tonyrobbins.com/mind-meaning/staying-focus/

Staying focussed

Where is your focus lacking? And more importantly what is it costing you? Let’s get on track to win.

"Nothing in the world can take place of PERSISTENCE. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent."

The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of financial advice. Readers are responsible for carrying out their own due diligence and for obtaining professional advice before making any investment decisions.