Step 3: Adopt a buffalo's mindset to face the storm in 2023

Don't be a cow

Today is the 3rd & final issue of Matt King’s interview.

The two previous steps we covered were:

  1. Have an investment thesis

  2. Be financially discipline

It wouldn't be a FI Investors newsletter if we didn’t talk about mindset.

Here we go with Step 3:

3. A Buffalo’s Mindset

Successful people understand that by putting off problems, they make them worse.

So there's this concept around the storm. A storm comes rolling in towards a pasture of cows and a herd of buffalo.

As the storm comes, the cows see it and start to run.

Are cows fast? No.

So they can’t outrun the storm, which ultimately catches up to them.

The cows keep running as the storm continues to pound them, not realizing that they can't outrun it.

And guess what? They get rained on constantly as the storm passes all the way through them, leaving them exhausted.

The buffalo look at the storm and decide to chill as it approaches. When the storm comes, they face it and run through it.

The buffalo know the fast path of least pain, the path of least resistance, is right through the storm.

The storm comes from left to right, so the buffalos run right to left. They’re in the storm for much less time than the cows who tried to outrun it.

Now is a great time to be a buffalo.

Don't try to think that the storm isn't coming.

Don't try to act like those problems will go away, such as debt collectors ignoring you, or your bank not calling you.

Lean into your problems. Face them head-on.

Have an incredible group of people like FI investors who can help you navigate this. Have people that can be a board of directors for your life. Have people who can hold you accountable for charging the storm and coming out on the other side faster.

This will put you in a much better position.

You'll have more bandwidth and mental capacity because you have been in this storm for less time, ultimately shortening the duration you felt the pain.

As you see the storm, as you see problems coming on:

  • Have awareness.

  • Take 100% responsibility.

  • Then take action towards it (charge the storm).

It’s like when you put on your pants one day and they are a little tighter.

Do you address it at that moment or avoid it?

If you address it at that moment, you face it head-on and hit the gym. The pain is much shorter because maybe you only had one pound to cut off.

But most people put it off. Your pants are tighter, your pants are tighter, then one day they don’t fit.

Now you have to lose 15 pounds.

And the pain to lose 15 pounds is way more significant than to lose one.

You have to have awareness.

It is freaking uncomfortable. Really uncomfortable.

So have people around you who aren't afraid to say, "Yo, dude, now's the time to charge the storm."

Surround yourself with people who can hold you accountable and say, "Hey, man, you need to check yourself because the storm is coming into your world. And I want to feel as little pain as possible."

Go with the people who are actually charging the storm because they are the ones who will be able to help you out the most.

Hard work beats talent when talent doesn't work.

So now is an opportunity to work hard regardless of your talent and give yourself an unfair advantage to win.

That is the one thing I am confident in myself every single day.

I'm fortunate to have an incredible support system in my wife, my daughter, my son, my mom, my mother-in-law, my father, and my father-in-law.

I'm so fortunate to have them support the vision and hard work that I'm willing to put in, and I know without a question of a doubt, I will outwork anyone.

If you wake up every single morning knowing that you're willing to outwork the person across the table on that deal, outwork the person trying to steal your client, outwork the person trying to hustle that deal—you are going to win.

It's just a matter of time.

I can't control what happens in the market. I can't control what the Fed does with interest rates.

But I can control how I get up out of bed every day, how hard I to work toward my vision, and the choices I make.

All we have is choice.

Action to take:

  1. Write down your investment criteria

  2. Stay on top of your finances

  3. Rewatch the recordings

Whenever you are ready, here are 3 ways we can help you:

  • Get your 1st rental property with our Rookie Mastermind

  • If you have multiple properties and want to scale, join hundreds of other FI Investors in our Elite Mastermind

  • 6 Keys to reaching financial independence free ebook