Are you following
“The 2 Golden Rules of Business”?
What helps us become successful in real life is not taught in school.
In fact, shamefully, far too many of us never manage to understand, let alone implement these life changing concepts. To get ahead we tend to work harder and longer, and we strive to develop knowledge and experience in a multitude of different areas. Wrong.
Below are the golden rules.
Things that we must learn, and most importantly, we must put into practice in ALL aspects of our lives. Failure to do so is failure to fulfil your full potential. No matter how great you are doing, implementation of these rules would catapult your success to the next level.
You can’t afford not to read on...
Leverage
Whether or not we realise it, we are leveraging people and their skills all day long –it is all about valuing your time, and the more you value your time, the more you leverage.
Leveraging enables us to achieve far more than we could by ourselves.
Think about this. Why do we pay to get our hair cut? It is a simple task, and we could learn to do it ourselves...The answer is that we do not want to go through the hours, weeks and months of training and practising in order to learn how to perform a job of similar standard.
We could have the same tools at our disposal, and we could attempt to follow a book on how to cut hair, but the chances are that it’s a bit of a gamble and we wouldn’t want to give it a go the day before our wedding day!
Needless to say, we could perform the job tomorrow, but even if we did physically cut off our own/partner’s/children’s hair, we wouldn’t do anywhere near as good a job as the hairdresser.
We hire them because we either we do not have the time spare to spend practising, or even if we did, we would think that the cost of the cut was not worth the time and effort!
When I read the UK’s Rich List and saw that nearly every single person in the top 500 had property as either their primary or secondary income generating strategy, I knew I had to be involved in the industry.
There are two routes to make money through property but both should have leverage at their core: one is for the time rich, and one is for the time poor.
If you are time rich, and have enough money in the bank to see you comfortably through 3- 6 months without anything coming in and want to build your own property business by yourself, then you could spend hours and hours of your time: educating yourself, building up a list of trusted contacts (estate agents, builders, plumbers, roofers, plasterers, electricians, gas engineers, mortgage brokers, lawyers, solicitors, investors, the council planning/licensing department), attending seminars, networking events and practising your trade by putting in offers, negotiating, managing builders, tenants and estate agents.
Be warned that this is not a “Get rich quick scheme” and although you can make substantial rewards from property from a standing start, you are not going to become a millionaire overnight. It will take time to build your confidence, find your goldmine area to invest and start seeing some serious results.
However, if you are time poor, if you have a busy full time job, you have responsibilities that mean you cannot just quit your job to make the time (family, mortgage, school fees etc.), or maybe you love your job and don’t want to leave it but still want to see the substantial rewards from property, then going through this process is not for you.
You need to leverage your time as you cannot afford to spend hours and hours learning, applying and refining your strategies. You want results and you want them fast.
Joint ventures work very, very well when each party brings something new to the table. That could be knowledge, deals, money, contacts, time or even an opposing skill set (e.g. administration, sales/marketing or IT). You need to think about what you have got to add value to a relationship and what you want from your partner.
Most important of all, you need to trust the person you work with.
For me it is more than this. I want to build long-term, mutually beneficial, very successful relationships with someone that ultimately I can get to know, understand and become good friends with.
So, you can leverage your time by getting people to do jobs for you. That could be simple tasks such as the cleaning, the ironing, or the administration. You can also leverage other people by learning from their mistakes through training and coaching, to accelerate your development.
Finally, in order to save your time and money perfecting a skill, you can leverage other people by using their knowledge and expertise to do something for you which you would not be able to perform as effectively by yourself.
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Focus
(Follow One Course Until Successful)
Focus - it is key. If we were taught the power of leverage and focus from an early age I think we would look very differently at the world.
For too many years, I thought you “had to work hard to be successful” and whilst it would be very naive to say that anyone achieves success without hard work, it is far more important to work smart; through leverage and focus.
If I can be of service in any way – either through guiding you to someone who can help educate you so that you can invest safely, securely and very profitably in property, or if I can work with you to generate some very strong investment returns or to help you build a very high yielding portfolio, then please don’t hesitate to contact me.