05 Sep Do you have the right midset?
During a recent presentation to members of the Forever Cash Gold Club, I was able to share my thoughts on why more people are successful investors – they don’t have the right mindset.
Now I’m not talking about motivation or self-esteem here; I’m talking about a pattern of thinking that leads to specific actions.
Let me illustrate the difference between people chasing after deals and those who have the business mindset. According to archeologists, long before modern human society was formed, people were mainly hunter-gatherers who only got enough food for that day’s needs. But a major turning point for humans was the first time we settled in one place and began farming the land. Now farmers were planning ahead and could enjoy their crops long after the harvest had ended.
Deal chasers think short term; but the business mindset forces you to think bigger. It forces you to plan out your time, to have procedures in place, and to take whatever steps you see necessary in order to reach your goals.
Here’s an example. If you sell land, don’t view it as a hobby; view it as a business. Set aside time each week to send out letters and to make offers and phone calls. Set a goal of how many deals you want to do per month and stick to it. Treat buyers and sellers well – thinking long-term (repeat clients, recommendations, etc.).
Every action begins as a thought, transforms into a word, and finally manifests itself in deeds. So start thinking, speaking, and doing what you need to in order to be successful, and don’t ever fall into the trap of thinking like a caveman.