I’ve been thinking today about where motivations come from? First, of course, it’s so important to find what pulls you forward in your life each day, but mainly — how do you make it on the dark days? Everyone has them, you know?
We have to know where to pull strength in this life. My family is a huge motivational factor for me. So my impetus in life has been to make my personal lifestyle one that encourages me, my family, and others. My lifestyle enables me to serve others and is motivational for me.
Find your golden “why” and be able to verbalize it to yourself and others.
Almost a year to the day, I had a wonderful friend, Dinesh Gauba, on the podcast who taught me many things through our working relationship and our friendship. One of those salient points is that it takes power to invest. What does that mean?
Gain the Power for Investing
It takes power to invest simply because you can rarely invest unless you have something to invest with. Not meaning you have money with which to invest — that goes without saying. Instead, gaining the power for investing means that you have to have the guts to lay down that cash, have a belief the investment is suitable, trust the person you are turning the money over to, and on and on. That is power.
None of the processes are easy — but they become easier with practice. But as my friend Dinesh Gauba says, “There is Power in Collaborative Investing.”
We spend so much time finding places, opportunities, and ways to add value to the new investments we’re working on. But, as Dinesh mentions in the podcast if you work first at building beneficial relationships — you have a leg up in the investment arena.
Align Yourself With People That Have Knowledge
One of my favorite sayings is one from Dinesh Gauba:
Anytime you can align yourself with people that have knowledge and expertise that you don’t, you can accelerate your results. –Dinesh Gauba
You will want to listen to the podcast for some detailed golden nuggets that you won’t find elsewhere — believe me, I’ve looked.
Dinesh gives specific points that I go back and review every once in a while. For example, I’ve learned how to collaborate and partner the investment deal, and I work on that continually. But I’d forgotten one point you will want to hear and think about if you are new to investing.
Stuff is going to go wrong; it just will — again — back to power.
The Gun Shy Investment Fails
As a result of collaboration, I’ve learned “how-to” collaborate and partner on deals — but if you are just beginning, please take a listen to Dinesh Gauba’s advice.
To the gun shy investment people who have had failures and slap-downs — that’s where collaboration will help you. The fails aren’t as tricky if someone is in your corner and on your hand-holding adventure team. We’ve all had those days. But, to be fair — if you have an epic fail on your first adventure with a venture, the effects are worse.
I hope that each person will succeed their first time out when they invest, but that isn’t always the case. The fact is, if you collaborate, success is more likely. And please believe that investing truly becomes fun when you finally get out of survival mode.
The Trustworthy Team
You will want to network and build a trustworthy team to gain investing power. In the podcast, Dinesh Gauba teaches you how. If you don’t have your team yet, begin by watching those around you and within your circle. You will notice that those good investment partners, almost without exception, will be lifetime learners.
The Lifetime Learner
The lifetime learner will bring something new to the table every time you talk. Sure, you want someone you can collaborate with and invest with — but just as important is having someone you can bounce ideas off of — and brainstorm. You want someone who thinks differently than you do so you can get a different perspective than the one you have in your head.
Peers and Confidants
I call these people — my network of people that I trust — my trusted advisors, peers, and confidants. You’ll want people around you who don’t just say what you want to hear. When you’re putting down hard cash, you want the truth, real opinion, and a variety of perspectives.
You will want to have someone that understands the knowledge space.
The Due Diligence Factor
Of course, you will always be working on due diligence, but others will know things that you can’t possibly uncover. Part of your collaborative investment power will come in the form of listening. Keep your ears open for someone with information in the knowledge space you’re are looking for.
You’ve Heard it — If You Build It, They Will Come
It’s sort of like — if you build it, they will come. If you listen, you will hear it, somewhere. And then there will be cases where you want it, and there isn’t time to get the deal closed, or you don’t have the cash together.
The Asymmetric Risk Reward
The real magic that I find in my podcast with Dinesh Gauba is how clearly he can verbalize some complex concepts. Like the things or principles that you can study for years without a successful grasp on them — Dinesh explains with directness and accuracy.
You’ll learn you can invest without sacrificing your finances. But the part in the podcast I go back to repeatedly is the questions Dinesh asks before investing, whether it’s with a new company or a group investment. I use this formula for myself — these questions have added to the armor of investing that I use.
Piggyback on Successful People’s Plans and Investments
Piggybacking on successful plans or investments doesn’t mean you are muscling in on a deal with someone uninvited. Instead, it means you are listening, learning, figuring it all out, and looking for an opportunity to make a similar investment.
In my opinion, it’s still collaborating, in a way. There is still power in collaborating with this form of investment.
Optimize Your Cash Flow
You will want to take specific steps to optimize your cash flow. If you’re going to have the opportunity to invest collaboratively — with power, you will have to have some liquidity ready when you need it. Dinesh Gauba helps lay out the steps he takes, and I also use this process.
I learn so much from each of these podcasts — and even more when I think about one of my friends and review our time together again. So I feel a strong push to help you, the reader, to find what I have discovered from investing.
I want your happiness and success to be on a level that can change your life and make it everything you want.
Someone said to me, “everyone can’t have the same success as you do, Justin.” I beg to differ. They can have the same and similar success. You can have it — if you will. I’ve seen principles applied and lives changed, and I believe in you.
Image Credit: Andrea Piacquadio; Pexels; Thank you