Saturday, October 11, 2008

Lessons from Cashflow 101

I have been moderating Cashflow 101 games for a few months now. Every game is a learning experience. I am posting some of the learnings and "tips" I got from those who already played the game.

Learn From Others.

Take note of fellow players’ winning game strategies. Next time, test them out for yourself.
– Cheridan S

Overcome Fear.
Fear isn’t the problem; it’s how you handle fear: specifically, the fear of losing money. Losers are defeated by failure. Winners are inspired by it.
– Jorge T

Always Look For Opportunities.
No matter where you are in the game… always be on the lookout for opportunities.
– Elle J

Reflect on Lessons Learned.
Always think about what you can learn from the game you just played. You may not always have time to reflect on the game as it is played (and sometimes it is more interesting NOT to play, but to just observe!), but you should always take time later to think about the game and what it taught you. This is part of the educational process and so it should be savored. You can learn a lot about how investing works, how well your investment strategies pay off, and what it takes to exit the real Rat Race.
– Dave G

Always think,”WIN-WIN”

I negotiated a deal that earned me a lot of money but did not benefit the other person as much. After that my co-players didn’t want to have a deal with me anymore. I realized I was greedy and that I should always think about how others might benefit also. – Cy

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