The most common mistake smart investors make is not having a clear game plan.
To build a solid strategy, write down your criteria for making a decision, then stress-test it against history. Every time you make a decision, go back and ask: “If I made that decision under these circumstances in the past, how would it have worked?”
Knowing the track record of your decision-making criteria gives you a much deeper understanding of how things actually work.
Credit: Sam Parr, Shaan Puri, and My First Million
Let’s pause and reflect on a critical key to success:
The people who think differently from you—and who you might ordinarily get annoyed with—are often the ones who complement your weaknesses. Finding people who balance your strengths and offer different perspectives is essential for building a successful partnership or team.
I encourage you to take the PrinciplesYou personality assessment for free: https://bit.ly/3vzYY13
Credit: Sam Parr, Shaan Puri, and My First Million