To make yourself a greater investor, what one thing would you improve about yourself?

[Sunstone]

Dear guys,

To make yourself a greater investor, what one thing would you improve about yourself? IE what Kaizen (one step) do you think you should be applying today?



Kaizen = Change, for the better. = Continual improvement.

Kaizen, is a reference to taking one small step at a time - sort of continuous improvement, one small step vs radical change (or innovation, which introduces a brand new element into a closed system). It is a method of quality and process improvement, whereby a system or process is advanced through continuous minor changes. These changes are implemented in stages to view their outcomes.

http://en.wikipedia.org/wiki/Kaizen

Cheers,

Sunstone.

[House_Keeper]

I actually made one small change a few years ago that has made a greater difference that I expected.

It is simply to decide to do at one think EVERY DAY :eek: about my investments. It could be reading something, taking some action, fixing something small, finding out about something, whatever...

I must admit I don't actually do something every day, but at least every two days...

All these little things add up eventually...

Cheers,

[Pete]

Thanks Sunstone,

I would be a better investor/person if I was more receptive to the ideas of others. I observe that too often I am not adequately open to learning from others. I'm not too bad, just could be better!

cheers,

[The Y-man]

Reading the posts in this forum is a Kaizen activity, as you increase your knowledge, or see other ways of thinking.

Kaizen is about "evolutionary change", as different from "revolutionary change".

People are often in a hurry to see results - i.e. big changes, big results, short time frame. However, where a "big change" does not succeed, it can often lead to loss, or a "backward step". The philosophy of Kaizen is that small changes applied continually can have the same cumulative effects as a successful big change, over a longer time frame.

Better not get me started on it, or I'll go on for ages (it's one of the subjects I teach at uni.... :p )

Cheers,

The Y-man

[Aceyducey]

Only one?

I'd start with my patience.

It's always taken too long for me to bother to learn to be more patient.

Cheers,

Aceyducey

[quiggles]

Many things, but really I think my consistency. I've got stickability, but I sometimes run hot and cold.

Followed closely by bettering my people skills.

[kissfan]

Similar to Quiggles, I think every now and then that I seem to lose momentum but tell myself that I'm just waiting for equity or capital growth. Must learn to be more dogged.

Regards
Marty

[Mrs Bird]

Dear Sunstone,

What a wonderful but very difficult question to answer.

I have thought about this for the last few days and mine would have to be...

To be more organised.

By this I mean more organised in every aspect of my life. I would have to start with a small task then build up. I am easily distracted but have the best intentions.

Mrs Bird :)

[Monopoly]

Hey Sunstone,

Great question!!! :)

For me, PATIENCE / TOLERANCE.......lots of it and NOW!!! :o

Seriously, I think I just need to learn to be more patient, especially in my business dealings. I have walked away from deals simply because I was kept waiting too long!!! I guess it's because when someone approaches me with a query I make it a priority to address the matter as quickly as possible and not keep them waiting. Consequently, I suppose I expect this to be reciprocated by others in their dealings with me.

When dealing with RE agents, I tend to want answers YESTERDAY; often getting irritate with agents who do not do their homework and who try to convince me of information that I know to be grossly incorrect and/or incomplete.:mad:

I am getting better at it, but I still have a long way to go!!! :(

Jo

[KPW]

I think for us it would be to trust our gut instincts more.

Many times in the past we have second guessed our gut feel and gone with someone elses opinion as they had more experience or they were surposedly 'experts' at something only to find that we ended up worst off for it. I guess only we can know what's best for us.

:rolleyes:

[likewow]

Hey Sunstone,

Great question!!! :)

For me, PATIENCE / TOLERANCE.......lots of it and NOW!!! :o

Seriously, I think I just need to learn to be more patient, especially in my business dealings. I have walked away from deals simply because I was kept waiting too long!!! I guess it's because when someone approaches me with a query I make it a priority to address the matter as quickly as possible and not keep them waiting. Consequently, I suppose I expect this to be reciprocated by others in their dealings with me.

When dealing with RE agents, I tend to want answers YESTERDAY; often getting irritate with agents who do not do their homework and who try to convince me of information that I know to be grossly incorrect and/or incomplete.:mad:

I am getting better at it, but I still have a long way to go!!! :(

Jo

Very interesting thread,

I can relate with Jo. I always have the mindset that if im so enthusiastic and dedicated to something then why isnt everyone else :D I cant stand slackness or time wasters but i just have to realise that other people just arent as fanatical about things as i am and yes, i want things done and questions answered yesterday as well. Mistakenly thinking i am being super efficient by doing this but im probably being half efficient and half stressed.

Also i have a problem with trying to do too much at once instead of focusing on one thing 100%, which means i spread myself a bit thin at times. (quite often)

Im always looking at shares, business, property opportunities....lots of phone return messages, papers, magazines piled up alll over my desk, list of bookmarks on IE a thousand long, 3 unfinished books on my bedside table, 2 on shares, one on property ...when one things starts to be neglected (like my business) thats when i pay more attention to it so it sort ebbs and flows rather than growing in a linear sense like it should if i was more focused on it as i should be because it provides the cashflow that i (we) live off.

Also i have this other problem with.........................

[Sunstone]

Dear Sunstone,

What a wonderful but very difficult question to answer.


Dear Mrs Bird,

I agree that it's not a simple question. But these questions have to be asked to successfully expand our comfort zones. Can any of us imagine if we did today exactly what we were doing 15-20 years ago? :eek:

Hence sometimes we have to ask ourselves the harder questions. ;) Well done on answering it. :)


Dear guys,

Thanks for the input and the kinds words. :) Some sage words in the advice posted.

Y-Man........... Sounds like you have a ready made topic for one of your Melbourne meetings....... Next time you are up in Brisbane.... :cool:

Cheers,

Sunstone.

[Jacque]

To ask more questions, even if it appears that I'm stupid :)

[Mark Laszczuk]

To be more disciplined and focussed on the development of my business idea.

[ren-A]

- To do better analysis
- To work with people better

[MichaelW]

To actually buy something. Don't I have to have an investment to be an investor or some such? :o

[<KS>]

Patience and Consitancy in following up ideas.

I cant seperate them as they are both areas that I MUST improve on....yesterday

<KS>

[Thommo]

I'd be 40yrs younger, knowing what I know now.

But maybe other carnal knowledge may distract me again (note the space). Bummer.

[quoll]

To ask more questions, even if it appears that I'm stupid :)

Jacque

That is the hardest think to do, If you can pull that off, well done. I have heaps of trouble asking what I think are stupid questions, something I really need to work on.

Not very good at being ignorant of stuff, having trouble being a beginner.

Cheers
quoll

[likewow]

To actually buy something. Don't I have to have an investment to be an investor or some such? :o

Be patient mate. The time will soon come and you'll have so much accumulated knowledge (and cash :D) by then youre gonna clean up. But patience is the key.

[MichaelW]

Likewow,

Thanks, I needed that. I'm cashed up at the moment and heaps of equity. Also, loads of spare cash flow so I can service some pretty serious loans. I'm being patient due to the current market cycle but it is frustrating when you want to pursue a neutral/-ve geared for CG approach and the market is sliding.

Anyway, in the meantime I'm keeping learning as much as I can. I've been in to REI for a while now and actually had an IP earlier but sold it to buy the PPOR.

Meeting Steve Navra at his offices on Monday for a chat too. I liked his model presented at SIG and reckon he might be able to help me out with a plan of attack and what I can do with all those lazy dollars...

Cheers,
Michael.

[Glebe]

Michael,

I'm in a similar position to you. The plan is to enter the property market again in 2 or 3 years time.

[MichaelW]

Michael,

I'm in a similar position to you. The plan is to enter the property market again in 2 or 3 years time.

Glebe,

Nice to know I'm amongst some like-minded folk on here. If I was to add a signature to my posts similar to yours it might read like this:

Current age: 34
Current Net equity: $650K
Required equity: $3Million
Equity still to get: $2.4M

Or something like that... We're on the path now anyway, and its just a matter of time until we get there!

Cheers,
Michael.