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Twelve Habits of Successful Entrepreneurs |
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Every successful
person whether sports or business, have certain crochets (liking),
they used to succeed. Let me give you an illustration.
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In sports,
there are three types of levels in football: the player, the
divisional winner, and the super bowl champion. There is a
big gap between a player and a divisional winner. But, there
is even a bigger gap between a divisional winner and a champion.
What is the different? Discipline.
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Champions
are willing do what others will not. They are the first one
that shows up to practice and the last one to leave. They
study the play book over many times and watch film of their
opponent. They go the extra five miles to win.
Successful
people use similar habits to make money at the office or at home. They study how money works, while
others work for money. They will pay the price of attending
a $1,000+ seminar, while others complain about the price. And
to a entrepreneur, success is a never ending journey. |
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Habit
# 1 - Entrepreneurs Buy Assets |
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The
rule of thumb to determine what a asset "is" and "is not" is simple,
if it generates you money, it is an asset. Ninety-five percent
of the population spend their money on liabilities such as, cars,
clothes, trips, cell phone, pagers, etc., while the top five percent
invest in assets. |
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Just
for the sake of conversation, is a house an asset? The common
thought expressed among realtors is, yes, a house is an asset.
Although it gives the appearance of an asset on paper, is it an
asset? Let me give you a personal illustration. |
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Several
years ago, my wife and I purchased a beautiful new home (hereafter
property #1) in a very nice and quiet neighborhood. Our Realtor
said "This would be a great asset for our portfolio." If that
is true, why is it not making us any money.
How will
we turn this into an asset? In the near future, we will purchase
property #2 and lease property #1. Already, property #1 has
greatly appreciated and has given us room to create a positive
$100 - $350 a month passive income when we lease it out. |
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| Twelve Habits of an Successful Entrepreneur |
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