16 Super Decisions for 2016! The Final Four
February 8, 2016
In my college days, I heard a statement. “You can borrow brains, but you can’t borrow character.” It has been my fortune in RE to meet and consult with many of today’s finest RE brains. Today, I want to give you my final four Super Decisions for 2016. Gleaned from the great minds of successful men/women I’ve talked with in my career.
This first decision I recommend parallels my statement above about borrowing brains. Though it comes from the mouths of many experienced businessmen/women.
1. Build your own “Board of Advisors”
It dawned on me early in my career that I was full of ideas and energy, but empty of experience. I often wondered why young men/women are full of the horsepower of energy and stamina but empty of the “driving” experience. What a shame that we can’t combine the energy of youth with the experience of age! But, we can! I wanted the wisdom of the older experienced “drivers.” And so, I went after it. It is not a sign of weakness to admit that you do not know something. In business, it is a sign of wisdom. Now, staying ignorant IS a sign of weakness, but, youth and ignorance can borrow brains. I strongly recommend that you assemble a board of advisors. These could be living people you consult with regularly, as well as people who have passed away, but have left their wisdom in books and videos.
Many times I will spend time with a successful person, and they do not realize the wisdom they are imparting to me. They think I’m just asking good questions about them or their business. They may feel flattered, but I feel enriched. Everyone knows something I don’t know; hence, every man is my teacher. My duty is to ask the right questions and glean from their knowledge. Most of us are only too eager to talk about ourselves. But, I’m not learning anything when I’m tooting my own horn; I’m just wearing down my own battery.
I want to learn. I don’t have time to waste bragging about me, I need to learn how to better run my business and how to succeed with my vision. I’d recommend carrying with you a list of questions that you could ask if you find yourself with a smart person in any field, but especially in RE. Keep a running list of questions on your phone and update it regularly.
Here is a partial list of my Board of Advisors: Patrick Lencioni, Tom Peters, Spencer Johnson, Robert Kyosaki, Napoleon Hill, Charles “Tremendous” Jones, David Snow, John Maxwell, and Peter Drucker. Now, some of these are dead, and a few are unavailable to pick up my phone call, but ALL of them have written excellent wisdom in books that I read like the Bible. I don’t just read their words; I memorize sections, stories, principles and apply them to my RE business. The corporate wisdom of these (and others) is many times greater than my mind; so, I borrow their brains and make them my “Advisors.” Many times, I have asked myself, “How would Kyosaki handle this deal, how would Jones tell me to handle this person, or how would Snow tell me to set up this presentation?” They advise me and I profit richly from their advice.
2. Have a Mentor you consult with and use as a sounding board
Now, this is a living person who agrees to act as a personal adviser to you. I cannot stress the wisdom of having another mind to consult with who will ask tough questions, play “what if” games with me and who is not intimidated by me, and thus will ask me tough, probing questions. It is too easy to gather “yes” men around you , but you will need honest men who will act much like a father or big brother to you in your business. I don’t mind admitting that I need and value this wisdom. You see, we all have blind spots in our vision and decision-making, just as drivers have blind spots in their rear vision. And blind spots can cause imprudent decisions to be regretted later. A wise mentor will point out your blind spots and see things you don’t.
3. Bring in an outside consultant to evaluate your methods, personnel and procedures
The successful people I meet in all walks of life have this. I know many businessmen and women who are members of Group 12, which is a national organization with hundreds of local groups of 12 businesses. Each group of 12 pays an annual fee to belong. Then, in turn, each of the 12 businesses presents their business to the other 11 once per month. They agree to critique, evaluate and advise each other. They also are available to each other as friends and advisors throughout the year. This provides great networking and support in multiple ways. Having 12 successful business models to learn from and 12 successful CEO’s to consult with is a marvelous way to leverage advantage in your favor.
4. Keep Growing YOURSELF!
This is a constant theme among those with whom I consult. Your business is built on YOU! YOUR personality, YOUR vision, YOUR stamina, YOUR health, YOUR social skills, YOUR integrity, YOUR diplomacy. If you are reading this blog, it suggests to me that you are interested in RE and in building your own RE investment business. Whether you rehab as a part-time income or are a full-fledged RE investor, your business rises or falls on who you are and what you bring to the business.
I doubt if you lack vision or dreams, or you wouldn’t be on this site. Business can fail at times for want of vision, but 90% of businesses fail due to the administration of the vision, the integrity, social skills, or diplomacy or the health of the leader. I urge you to examine yourself and to grow yourself. Reading, exercise, good diet, advanced training, learning social and cultural skills – all will help your vision become reality. I hope 2016 is a most prosperous year for YOU!
