That is a pretty bold statement coming from a guy who makes his living giving advice. After a lifetime of making mistakes, overlooking the obvious, and stumbling over attempts to be right, one might think all the big hurdles had been cleared.
Not even close. In August, I learned perhaps the most valuable lesson of my career in regards to either buying or selling lumber. Let me correct that and say the second most valuable. In first place is the one I am getting right now. “I can always do better.”
Here at LLG, we are in our third round of 12-series master classes on learning how to forecast the lumber market and improve buying and selling skills...LLG Lumber PHD. Participants know that I write much better than I speak. I am constantly working my way through the content, ever changing, overcoming technical difficulties, and plain old jumping in over my head.
In the classes I stutter, mumble to myself, get lost in the presentation, repeat myself, and have gone so far as to cut the class off because I was completely befuddled. There have been moments of utter embarrassment, even humiliation. For me, it is more difficult to deliver a preplanned presentation to a live audience than it is to be put on the spot or in the hot seat.
Lesson #9 of the 12 is entitled Role Reversal. Class members tell me, using only what they have learned in the course, what they expect the lumber market will do over the next four weeks and what they recommend for an inventory strategy. In all three classes, attendance for that class fell to 50% and from that point on attendance was at best 70%. Three different groups with exactly the same outcome.
So I asked them why that happened (in an email). Only 10% replied, which is explained in the answer of only 7 replies...and almost to a person the answer was “fear of embarrassment” either in front of me or the whole class. Several even confessed they cut the class for that reason and were hesitant to finish for fear being put on the spot. That also explains why half the class does not join in by live video. Keep in mind the average age is 45 years old with 17 years lumber experience. Some are rookies, some are 40-year veterans.
This was incredibly enlightening, since I experience the same fear every time we have a class, but never considered how each individual was feeling. This awareness has many implications, however the most important for all of us is the realization that every day we “push through fear of embarrassment.” When we do not, you can rest assured, money is left on the table. Fear of embarrassment can be very costly when making lumber transactions, as well as every aspect of a life. Everyone gets embarrassed. It is inescapable. Embarrassment is self-misperceived as weakness, which is a cultural teaching from childhood. There is a remedy: practice unteaching. Perhaps the best way to overcome fear of embarrassment is to encourage others in that moment and learn to laugh at your human self. Beating the lumber market is more than just numbers.
Happy Trading...ML
OVERCOME THE COSTLY FEAR OF EMBARRASSMENT WITH LUMBER MARKET KNOWLEDGE. It’s not you or your buying style. It’s not a personality flaw. It’s just timing. LLG forecasts when the Lumber Market will rise and fall. No one else tells you months in advance when prices will reverse…no one! Call me for private consultation @ 336.516.5584 (Free Trial) www.laymansguide.com
SEE YOU IN OMAHA AT BCMC OCTOBER 4–7
Look For Our Booth
- Layman’s Lumber Guide
- Todd Drummond Consulting
- Misura Group