16 Great Tips from Successful Investors
Let’s talk about some positive things you can do at present rather than worrying about COVID-19.
So let me ask you….would you like some success tips?
If so, why not ask successful people what they wished they’d been told when they were younger?
That’s exactly what I did with these successful property professionals and here’s what they said.
1. Invest in yourself first.
Your best investment by far will always be in yourself as what you can achieve elsewhere will always be bounded by what you have achieved within yourself.
Investing in yourself emotionally, physically, spiritually, and financially will allow you to become the best version of yourself.
2. Dream Big
There’s lots of wisdom around with various takes on the same message- but it all comes back to “If you can’t dream it, you can’t achieve it” and the more work that you do on yourself and growing personally and professionally, the more you will be able to achieve in every area- including your financial investments.
I think it was Larry Page who said “Tackle big dreams, there’s no competition.”
3. Don’t wish it were easier, wish you were better
This famous quote from Jim Rohn says it all:
“Don’t wish it were easier, wish you were better. Don’t wish for fewer problems, wish for more skills. Don’t wish for less challenge, wish for more wisdom.”
4 . If you want something you’ve never had, you have to do something you’ve never done.
The biggest obstacle to success and happiness that most people face is fear.
Amazing things happen outside of our comfort zones and this requires us to do things that we may not have done and make us feel uncomfortable.
1. Success does not come from one big event or occurrence, it comes from a series of smaller things.
I always used to think I would be successful as a result of one big break or event.
I would get a promotion or win the lotto or flip a property and make a substantial amount of money.
But I’ve learned that success comes from a series of smaller events.
So take every opportunity you can to better yourself or your circumstances, change your habits to be more productive, and work hard towards a long-term goal that you are committed to.
2. Successful people have multiple streams of income.
In most cases, your salary has a ceiling so whether you earn $50,000 per annum or $500,000 per annum your level of savings is capped.
You cannot save your way to wealth and success.
But by investing the income you save in high-growth assets, diversifying your portfolio, and adding multiple streams of income from property, shares and business you can fast-track your wealth and are not solely reliant on your salary.
1. Life is hard but you are smarter
Don’t kid yourself – life is hard, but you already knew that didn’t you?
There will always be more problems: economic and investment uncertainty, world tensions, uncertain work prospects, children etc, but remember you’ve survived 100% of all the problems life has hurled at you.
To make it easier to overcome these obstacles, surround yourself with the right people, get a mentor and a team of experts
And minimise the dangers by understanding risks and mitigating them as much as possible
2. Always learn how to improve at whatever you do
Ensure you’re the best version of yourself.
Keep challenging yourself, ask yourself what you still need to learn, how can I be a better role model, who do I still need to forgive.
And cultivate an attitude of gratitude – focus on what’s going well in your life, what you have and the person you’re becoming.
1. Don’t focus on things you can’t control.
To do so is not only a waste of your time and effort but counterproductive. Spend your time wisely on things that get you closer to your goals.
2. Surround yourself with people that challenge you.
As a motivational author, Jim Rohn said, “You’re the average of the 5 people you spend the most time with.”
While there is no scientific way to prove this hypothesis, my own personal experience confirms that to succeed and grow, you need to be around people who set the bar higher.
3. Live your life as if it’s your last and one day you’ll be right.
Steve Jobs has been quoted as saying :
“When I was 17, I read a quote that went something like: “If you live each day as if it was your last, someday you’ll most certainly be right.” It made an impression on me, and since then, for the past 33 years, I have looked in the mirror every morning and asked myself: “If today were the last day of my life, would I want to do what I am about to do today?
And whenever the answer has been “no” for too many days in a row, I know I need to change something.”
1. Choose who you surround yourself with wisely.
While we can’t choose our family but we can choose the people we spend the most time with. We should choose them carefully because we become a reflection of these people.
If you surround yourself with positive people then chances are you will become a positive person. If you surround yourself with negative people then chances are you will become a negative person.
I once read: “Great minds discuss ideas, average minds discuss events, small minds discuss people.”
Try never to be the smartest person in the room – while it may be good for your ego, it’s not good for your growth. Instead, invite smarter people in, or find a different room.
On a similar note, since you can’t be an expert in everything, so surround yourself with people who complement your weaknesses.
2. Develop good habits.
“Show me your habits, I’ll show you your future”.
Our habits define who we are and are the best predictors of our success or failure, so we need to develop good ones.
Breaking bad ones and creating good ones is hard work but you will thank yourself in the long run.
3. It does not matter how slowly you go as long as you do not stop.
Everyone has heard the story of the tortoise and the hare – spoiler alert…..the tortoise wins.
This applies to all areas of our lives including exercise, relationships, career, money, and investing.
Winston Churchill famously said: “Never give in, never give in, never, never, never, never in nothing, great or small, large or petty – never give in except to convictions of honour and good sense. Never yield to force; never yield to the apparently overwhelming might of the enemy….”
1. Prepare For The Unexpected
Every year there is at least one significant X-Factor an unknown that comes out of the blue to destroy the best-laid plans
2. Goals are critical, but so is action
To help you achieve your goals break them down into daily actions.
A routine is very important because it empowers you.
List everything that you need to do and everything that everyone else wants you to do, then you can prioritise the things that are actually important, the things that will get you closer to your goals, and make sure they are done.
