I'm often asked what I would advise people that would be the first thing they should do if they wanted to build wealth. Often the platitudes of saving and hard work are thrown around, however, lets work out where we are going before we put our head down and start spinning our wheels.
Traction is something we all need no matter what level of development our business is at. Where the rubber meets the road gives us our forward momentum. Have you ever had the feeling of revving your engines but not going anywhere? That is called a lack of traction and it happens to entrepreneurs at all levels of the spectrum from the most experienced to the least.
What is missing when we experience this lack of traction is education. To get that spinning wheel grabbing the road you need to step back from action. Turn down the revs and stop that spinning wheel. What often happens is we become enthusiastic and start spinning those wheels before we know where we are going so the traction leaves as doubt creeps in.
Education is the single cause of enthusiasm. The quickest way to get someone enthusiastic about something is to teach them more about it. When we apply ourselves to entrepreneurial ventures without finding out enough about it we tend to lose traction as we busily go about doing nothing. So its the first place to get a good grounding. Understanding on an intrinsic level what you are about and what an entrepreneur does will give you capacity. Every time you or anyone else increases your capacity you develop vision and are therefore able to act with clarity and purpose.
An entrepreneurs first and most ardent goal is to invest and make a profit. The interest in any other aspect of your business must not overshadow this one directive. We don't do anything that doesn't contribute to the bottom line. Whether your interest is real estate or businesses or even precious stones, it makes little difference. The investment object is simply the investment vehicle of choice for you however the result is always to make a profit.
Martin Thomas (c)2005
Martin Thomas is a professional investor who trades in Real Estate, Art, Precious stones and sea going vessels like yachts and power cruisers. Jack Reynolds’ is one of Martin's students. Jack was a broke Insurance salesman only 2 years ago, today Jack owns assets valued at several million dollars. What did Martin teach Jack in 24 short months? You can read about Jack's remarkable and rapid transformation and download Hayden's famous book “The Million Dollar Mentor" by clicking here