Are you on the right path?

The fact you’re asking for guidance already shows humility, and that quality is one of the strongest drivers of real success in my view. It means you understand other people know things you don’t, that their mistakes can become your lessons, and that whatever has happened to them can happen to you too. Life has ups and downs. Your job isn’t to chase every high forever. It’s to get competent enough that you can handle the waves when they come.

Building anything worthwhile takes patience. Some ideas need speed, but the judgment, resources and resilience required to move fast are almost always built slowly. For your skills, your wealth and your capabilities, keep the long view. For enjoying life and actually tasting the results of your work, make room for it in the short term. It doesn’t have to cost much. Just don’t lock yourself out of simple pleasures because you’ve taken a few losses, and don’t let those pleasures take over either. Moderation works for most things. The exception is improving yourself. On that front, stay relentless.

Patience is what creates compounding. The more capable you become, the better prepared you are when opportunities show up. I like the distinction between someone always chasing money and someone money eventually starts chasing. Once you have a real reputation, a solid network and genuine skill, you become the obvious pick for the work. Other people’s emotions matter less at that point.

Most of what I’ve done well has stayed inside my circle of competence. That’s the area I’ve deliberately deepened over the years. Everything else is secondary. Quietly getting better at what I’m good at is what puts me ahead.

The refusal to feel stupid and hubris sit very close together. That loops back to humility. Stay open to learning and most things tend to sort themselves out. Maybe the first brick-and-mortar attempt didn’t work. That still counts as progress if you took the lessons with you into the next try, whether it’s another physical business or something different.

Put your energy into building real skill. Once you’re genuinely good at something, the tools available today can multiply what you produce in ways that would have looked impossible not long ago. Go meet new people and get some fresh perspectives.

Just don’t hand over too much of yourself in the process. You’ll still need yourself later.

Stay patient. Keep learning. Let the compounding do its work.

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The refusal to feel stupid and hubris sit very close together. That loops back to humility. Stay open to learning and most things tend to sort themselves out.
that’s true and false at the same time, in business and finance.
Being a bit (or a lot, depending on the sector) stupid helps enormously.
For example, only a stupid could take certain risks that are necessary for a business venture to thrive. We see plenty of examples. We could say that fortune favors the bold and the stupid.

In finance, especially on Wall Street, stupidity is essential. When stupidity meets hubris, that is academia applied to finance, or the Chairman of the FED.

A good fact is that an intelligent person can pretend to be stupid, but not the other way around. Unfortunately certain levels of stupidity are out of reach even to geniuses, and can’t be understood or predicted. It’s a law of this universe, like the impossibility to travel backwards in time.
 
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