When most of us plan to retire by the time we reach the age of 60, Colonel Sanders was about to start his journey of global stardom and financial success at the age of 66. And all this was going to happen because he had wrapped up a major part of his life around ONE Thing – Fried Chicken.
Founded by him, KFC is a quick-service-restaurant chain which serves its recipe in 122 countries across 21,000 locations through the franchise business model. If you are a non-vegetarian, I am pretty sure that you must have enjoyed eating its “finger lickin’ good” fried chicken.
Though his recipe was rejected 1009 times yet none of the setbacks could derail him from the path of success. All because of his passion towards ONE Thing – Chicken.
What made Mohammad Ali successful? ONE Thing – His Knockout Punch
We all love using Google because of its ONE Thing – Search
Starbucks has its own ONE Thing too – Coffee
What made Mark Zuckerberg one of the richest men on Earth? ONE Thing – His Vision To Bring The World Closer Together
Domenico Dolce and Stefano Gabbana made their fashion brand, Dolce & Gabbana, highly successful. How? By focussing on just ONE Thing – Luxury Fashion
When you look around, you’ll uncover a lot of examples that justify the theory of ONE Thing.
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With respect to investments, when I say ONE Thing, it means – Be patient and don’t react irrationally. When I say ONE Thing, it means – Staying with your highly convicted ideas through thick and thin. When I say ONE Thing, it means – Focus on underlying businesses, not the stock prices. The analysts at business news channels will advise you to book your short-term profits at the end of the day. Just don’t. Stick with the ONE Thing without paying any attention to the irrelevant noise.
Even Phil Fisher, one of the greatest investors and best known for his book – Common Stocks and Uncommon Profits, had his ONE Thing too – buying quality and then waiting. As per Wikipedia, his one of the famous investments was in Motorola company when it used to manufacture radios. He bought his stake in the year 1955 and held on to it until his death in 2004. His strategy to wait made him earn huge profits.
“I don’t want to spend my time trying to earn a lot of little profits.
I want very, very big profits that I’m ready to wait for” ~Phil Fisher
A stock never covers its journey in a linear fashion. It always goes through the troughs of ups and downs. Between your expectations of achieving multi-bagger returns and the reality of the stock not moving a millimeter, lies ONE Thing – your patience to hold. During this period, your conviction is doubted and the research work is assumed to be flawed. Your emotions start coming into the picture, oblige you to panic and make you take an irrational decision. The underperforming quarters and declines in the market test your capacity to ignore the bad days. And if you have that ONE Thing in you, you’ll certainly enjoy the best days that Mr. Market has in store for you.
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History tells us that ONE Thing has the capability to make you achieve extraordinary results. Be it Steve Jobs or Bill Gates, Walmart or Amazon, iPhone or Kindle. All had ONE Thing in some way or another. It’s you who has to figure it out. Keep doing the one right thing at a single point in time.
“Be like a postage stamp – stick to One Thing until you get there” ~Josh Billings
You must be wondering why have I been emphasizing on ONE Thing throughout the post. It’s because people believe that doing multiple things at a time will make them achieve far more success than concentrating on just ONE Thing. This mentality, instead of adding up to the results, degrades the performance and results in the minimal output. Berkshire Hathway wasn’t built in a day. It’s the result of ONE Thing – A few right decisions taken over a period of time.
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The cover image has been taken from Colorbox
PS: The title of this post has been inspired by the book One Thing by Gary Keller
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