When you talk, you are just repeating what you know. When you listen, you may learn something new.

When we are young, we have numerous teachers and we learn a lot very quickly.

As children we are like sponges, soaking up information all the time.

Our partents teach us to crawl, walk, run, talk, behave and so much more.

When we are just 5 years old, we are put into a classroom where our teachers teach us to listen and learn.

We learn to read, write, add, subtract, interact with others, etc.

Our learning continues as we we get older and leave school and get a job. We learn whilst in the job, and then all of a sudden, for many people, learning just stops.

By the time we all hit our late twenties to early thirties, our opinions are formed, and we have our own set of beliefs about life, politics, the economy, other cultures, family values, wealth creation etc. Soon after that, most become set in their beliefs, and as such, they stop learning often because they believe they know everything they need to, or believe what they do not know is unimportant anyway.

Way too many people stop learning after they leave formal schooling. This is why we have so many financially uneducated people. We end up with people that find it difficult to evaluate new ideas/concepts, or recognise opportunities, and as such, never consider taking a chance to take advantage of any entrepreneurial opportunities.

Since people fail to continue learning as they get older, they see any "mistakes" they make in any endeavour, as just that - a mistake! They fail to see it as a learning opportunity because, in their minds, they have ceased learning.

However, the reality is that we must NEVER stop learning.

We need to keep learning in order to become better people, better parents, better investors, healthier, and generally better managers of our lives.

The entrepreneurs and the wealthy people of the world ALWAYS keep learning. They ALWAYS seek knowledge. They even see "mistakes" as an opportunity to learn, and refine their idea(s), and then try again.

Their attitude is: "You either WIN, or you LEARN"!

They know that they are where they are in life, because they have made more mistakes than most others, and as such, have learned more than others. Every mistake is a learning opportunity. Every mistake is an opportunity to refine their plan, and try again.

To be successful in ANY endeavour, means you must continually chase the knowledge and skills required to become proficient in what you want to achieve.

Knowledge is gained by asking questions, listening to the answers, listening to others' ideas and discussing them, reading about and discussing new ideas/concepts, and by listening to others' experiences.

It is gained by being open to new information and ideas, and by thinking about, discussing and analysing the new information and ideas.

However, most people will do just the opposite, and talk about themselves and their experiences. They will tell you their opinions, observations and baises. They will rarely discuss opposing views and will be dismissive of any information (factual or not) that does not fit their own set of beliefs.

If you want to do better than what you are doing now, then remember this:

You have two ears and one mouth, so use them accordingly, and listen twice as much more than you talk!

This is how we lived as kids, when we did most of our learning, and it is no different when we become adults.

• One of the most rewarding opportunities in business, which created millions of dollars in revenue, came about because I was in a conversation with someone where I was doing more listening than talking.

• One of the most rewarding sales in business came because I asked a panel of people at a customer site the question "So what is are the issues you are facing, and what solutions are you hoping for?" Then I just sat and listened to them telling me what the problems were, and what I needed to do to get their business. I just sat there and listened.

• I wantd to be a better property investor, so I attended courses and listened to speakers.

• When I needed a boost, I would listen to motivational speakers.

• I wanted to be better at my business, so I listened to other business people when they told me where the issues were in their business. I then worked to create "systems" and "policies" in my business to avoid such issues.

• I wanted a good relationship with my kids, even when they hit their twenties and beyond, so I would go on "daddy dates" with them. I would take each of them out for a one-on-one dinner, where we would just chat about life, their work, their relationships and so on. I mostly listened. I learned a lot about my kids during those dinners, and it really helped maintain a close bond with them. I felt very privileged and lucky that I was able to do this with my kids. I was the only dad I knew that did this on a periodic basis.

• When I started investing in equities, I needed to learn, so I listened to podcasts, listened to audiobooks, discussed concepts with others, listened to advisors, subscribed to quality information and read their analysis. I would ask questions of more experienced investors and listened to their answers and opinions.

The entrepreneurs and wealthy people of the world look for ideas and opportunities, and in order to be able to find them, they KNOW that they must listen more than they speak - it becomes the "default" setting for them. Such people know that the more they speak, the less they will listen, and the less they listen, the less chance they have of picking up on a new idea or opportunity.

Wisdom comes from knowledge and experience.

The more you do and learn, the better and more effective you become - in everything you put your mind to. The wealthy and the successful know this.

The only way to learn is to talk less and listen more. Ask questions, and listen to the answers.

If you make mistakes, use them as learning opportunities.

Seek advice from those that have achieved what you want to achieve.

Seek wisdom from the wise, and go forth and conquer!!!