I take pride in my 15 year old child, Cassie, as she’s landed her very first job.It’s working on the cash register at the local greengrocer. It’s a pretty good gig, and she’s enjoying earning money that she
is conserving to pay for an abroad trip she wants to go on.The other night over dinner, I asked Cassie “Do you think people tend to do the minimum since they get paid the minimum, or do you believe people who get paid the minimum tend to do the minimum?”
Looking at me as though I was making no sense, she responded “No idea, Daddy.”
“Well”, I stated “What should individuals do if they wish to earn money more?”
“Do more?” Cassie mused.
“Well stated! One last question … what precedes, the effort or the pay?”
“Most likely the effort.”
“Intriguing. So thinking of you here, if you want to make more so you can have more cash for your trip, I wonder … what extra work, or considerate ideas for improvement could contribute to reveal your manager that you want to do more than the minimum?”
The same teaching point can be applied to real estate investing. That is, individuals who do the minimum, tend to get the minimum.Said in a different way,
an investing law I’ve found to be proven right real and time again is that investing output(i.e. revenue made ), is commensurate with investing input( i.e. time, effort and ability contributed). If you desire more than the minimum, you first need to
contribute more time, effort and/or skill.The only other option is to count on luck and gain where you have not sown(i.e. garner a full time reward for a part-time effort), and while you might get fortunate from time to time, nobody I’ve ever met has the ability to claim they are regularly and dependably lucky.The much better stating is that’you make your own luck ‘, and as professional golfer Gary Player once said”
the harder I practice, the luckier I get.”As a reliable precursor to enhancing your profitability, what can you do to enhance the quality or quantity of your investing inputs? That is, how can you: Increase the quantity of time you allocate to your investing Improve the focus and accuracy of your effort, and/or Seek further training to enhance your investing skills Asking and addressing these questions will help you achieve sustained investing success. By Steve McKnight Steve McKnight, the founder of PropertyInvesting.com, is a respected residential or commercial property investing authority in addition to Australia’s # 1 best-selling service author.