Smart Decision Making

By

Smart Decision Making

An important part of the journey to be a Millionaire is acquiring the ability to make smart decisions. We are where we are today because of the choices we’ve made in the past. Think about your upbringing and look at how the decisions you made affected everything that was to follow. For example, the decision to enter university, the decision to drop out of school, the decision to take up a particular job in a certain company, the decision to leave home, the decision to get married and ….. All these substantially affected the person you are today. 

Not only have the decision you’ve made brought you to where you are today, but your future will be comprised of the decisions you make from this point forward. Decisions are the building blocks of your past and your future.

Most of us don’t know how to make decisions. If we feel good that day and the money is flowing, we tend to do it. If we don’t feel good or money is tight, we don’t do it. That’s no way to build a life!

The key here is to gather information. The first thought you should have asked to make a decision is this: “Do I have enough information to make an “informed decision?” If the answer to the above question is no, it is better not to go ahead. Having said that, it is also not the right thing to do every time. Once in a while, you miss a great opportunity because you don’t close your eyes and take a big chance.

An example is Mike. Mike recalled the time when one of his real state agents came into his office and said, “You are not going to believe this, but there’s a building site in XXX where they are preselling condominiums before they’ve even started construction!”

“Why on earth would they do that?” Mike asked. “It doesn’t make sense. This is such a hot real estate market that they’ll go up in value by at least 20% before they got them finished!”

He drove over the construction area, and sure enough, there was a sales trailer on a bare construction site. He found the salesman, eating a sandwich at his desk. “You got condo for sale?”. he asked.

“Yes, they’re $70,000 each. You want one?” asked the salesman. That was the extent of his sales pitch! Mike thought, “I am not ready for this. I don’t see how I could go wrong but for $70,000, I like to get a little more information.” So he drove around the block and thought about it. He would have to write a check for $3,000 as a deposit. There was no sign of any construction yet, so it would take at least a year before they would want the balance. The condo would have gone up in value by at least $12,000 by then. How could he lose? He drove back and told the salesman, “I’ll take one.”

It took almost 26 months to finish the project. Mike resold the condo for a $30,000 profit, and the only time he was ever in it was for the final construction walk-through. So, sometimes you do well when you close your eyes and take. a chance, but it’s not the right way to play the game. If you don’t have enough information to make an informed decision, it is better not to go ahead.

That’s all for now my friends. See you all in my next article.

Click Here To Get To Know The Smart Way To Built A 7-Figure Online Business Using Nothing But Ethical Email Marketing 

Click Here for the Fastest, Simplest, and Time Saving Way To Start Earning Recurring Income

Go here for more articles.

Comments

Post a Comment

Popular posts from this blog

Becoming Wealthy Is A Team Sport

By
Image
  Becoming Wealthy Is A Team Sport We all have seen how individualism is of prime importance in school. Firstly, we are graded based on individual effort. And although there are areas where teamwork is important — in sports like football and hockey, it is still the individual effort that counts. The smartest student rule. He is the man on the campus, loved by teachers and students alike. Which is tragic because it teaches us that life works the same way. That individualism is all that matters. Nothing could be further than the truth. In real life, no one gets to do anything great or achieve anything worthwhile alone. No one get to make it big by doing it all on his own. Archimedes was wrong — it takes more than one man and a lever to move the world. And even in individual sports like tennis and golf, there is a team involved. Sure it is players like Tiger Wood or Roger Federer who are the front man. But even these talented players have trainers and coaches guiding them behind ...
Read more

Reach Your Goals By Staying Motivated

By
Image
  Reach Your Goals By Staying Motivated Some people have difficulty achieving their goals in life or cannot seem to finish what they have started. This can be due to a lack of motivation. Motivation is a very important ingredient in any endeavor. Without it, a person will have a very difficult time completing tasks; also, they will not be able to maintain the quality of their work. This could lead to some erratic changes in their work ethic and lifestyle. Learning how to stay motivated is an important factor in life that people should learn. Taking It One Step At A Time One important error that any person can do when achieving their goals is to look for shortcuts. Relying on shortcuts can lead you to stop making progress altogether. Letting this habit control your way of thinking will definitely have an adverse effect on your motivation in the future. In order to stay motivated at a high point just keep your goals simple. Focus on one goal at a time and work from there. This way, y...
Read more

The Journey To Financial Independence

By
Image
  The Journey To Financial Independence As with all journeys, there has to be a starting point, and the distance between your starting point and your ultimate goal determines the amount of time and course of action needed to reach it. Where are you in relation to your financial goal? If you’re 25, college educated, have a great job, have already started accumulating some savings and investments, and your goal is to reach financial independence in 30 years at age 55, your course of action will be totally different from someone who is already 55, broke, out of work and wondering how they’re going to make it to the end of the month. But one thing you all have in common is time. Young, old, rich or poor, everyone has 24 hours a day and seven days a week. What you do with your time determines how quickly, if ever, you reach financial independence. No matter what you’ve done up until now, you have already embarked on your own personal journey through life. Everyone’s journey through life...
Read more