11/13/11: The Compound Effect and Success Strategies for a Down Economy
“Success”. What does it mean to you?
It’s probably safe to say that many people start investing in real estate because they want to be financially successful. However, we think most people agree that true success is a LOT more than just financial gain.
But an even more important idea is that success in anything is almost always the result of consistently taking the right actions at the right time long enough for those “right actions” to compound into an extraordinary result.
Therefore the “secret” to success is not just knowing what to do, but actually doing it, and doing it, and doing it until you succeed.
To help you on your journey, our mission is to provide ideas, information, knowledge and perspectives about not just the technical aspects of real estate investing (“what to do”), but also on the psychology of implementation (“doing it”). That’s what this particular broadcast is all about.
Behind the microphones for this inspirational episode of The Real Estate Guys™ radio show:
- Your inspiring host, Robert Helms
- Your perspiring co-host, Russell Gray
- Success Magazine Publisher, author and speaker, Darren Hardy
It’s no secret the USA and much of the world has been slogging through some very challenging economic times.
Historically, many highly successful people and organizations have emerged from hard times more focused, inspired and productive than ever before. Donald Trump, who nearly lost everything in the early 90’s is one of the highest profile members of the comeback club, but there have been many others over the decades.
Of course, there are also those who happen to be starting out at a time that appears far less than optimal, yet somehow manage to go on to greatness anyway.
So how is it that when times are tough, so many people don’t find the ideas and energy to turn their personal situations around, while others are enthusiastically working every day toward new heights of achievement, happiness and prosperity?
The perhaps not so obvious answer is attitude. The context with which people views themselves and their circumstances is a major contributor to or detractor from their ability to take and sustain effective action.
Just think of most of the things in your life where you fell short of your goals. Was it because you didn’t know what to do or where to find the knowledge to do it? Or, was it because you failed to do what you knew you should? Perhaps you started out, but didn’t stay with it long enough to let your efforts compound.
In real estate investing, for example, if you’re acquiring one property a year that adds $500 a month to your passive income, you might be bored or discouraged after just two or three years – especially if you’re holding down a day job and having to deal with all the hassles of property ownership. “Is this REALLY worth it?” you might ask yourself.
But if you stick with it, in 20 years you have $10,000 a month in passive income (probably more when you factor in inflation), and a net worth that now includes the equity build up from the pay down of the loans – and (if inflation persists) from the increase in value over the years.
However, if you quit early, as many people do, then you never arrive.
The point is: what good is all the knowledge in the world if it isn’t consistently, persistently acted upon? And how can you find the power to keep on pushing through all the ups and downs? You’ll be happy to know there are actually proven strategies for maximizing your power to persist!
As Publisher of Success Magazine, Darren Hardy has the unique privilege of interviewing many of the most prolific achievers in the world. Most have stories of not just overcoming adversity, but actually using it as a source of strength. Sound crazy? They don’t think so.
As a student, teacher and practitioner of success principles, Darren has gained powerful insights into the psychology of winning. So tune in as Darren reveals several precious pearls of practical achievement wisdom and discusses his new book, The Compound Effect. Discover why your adversity is your advantage if you know how to use it.