Jerry Fetta – Investing Is Like Hiring
We’ve all hired before. Whether or not you own a business, you’ve hired someone for something. Even something as small as picking friends is like hiring. You have a select role in your life that you intend to fill and you are looking for someone or something to fill it. In my business, I’ve made bad hires and I’ve made good hires. In the process of expanding I realized how symbiotic hiring is to investing. I want to share with you why, what some of the myths are, and what some of the truths are. If you’re ready to invest now, I want you to check out my new Cash Flow Coaching program with Keith Weinhold at Get Rich Education. Click here to learn more.
Hiring because you’re bad at something is a myth. If you hire someone to take over a task you’re bad at, how on earth are you going to train them on how to do it? And if you do train them, since you’re bad at it what do you think will happen for them? They’ll be bad at it too. Investing is no different. If you can’t expand the income you have, organize your current finances, save money, and make wise decisions with your personal finances, you have no business trying to invest. Generally, when people suck at finances (to put it frankly) and want to invest, it’s coming from a place of irresponsibility. They are hoping the investment will fix their finances so that they don’t have to learn how to do it themselves. This is no different than an employer hiring an employee to take over a role that is struggling. The employer is trying to get rid of his responsibility to the mess. Invest from a position of financial strength and mastery. If you’re not there yet, get there first.
Have expectations. In the hiring world, this is called a job description. You need to know exactly what you expect and be able to communicate it and measure for it. With investing, the first expectation is Cash Flow. If a deal doesn’t cash flow, it’s not an asset, it’s a liability. Secondly, it needs to be something you have affinity for. You need to like the thing you’re putting money into. Third, you must have initial understanding of the investment. The biggest mistake you can make as an investor is putting money into something you cannot explain on a napkin. Fourth, you must commit to it. Commit to learning about it even after you’ve invested, commit to holding onto it in a worst case scenario, and commit to staying focused even when the bitcoins of the world are begging for you attention.
Micromanage the investment. The whole micromanaging thing is a myth. Control is important. A successful employer who is winning by managing his people did not coin the term “micro-manager”. An irresponsible, under-performing employee who doesn’t like accountability did. You will need to micromanage your investments. Look at them weekly if not daily, learn about them, and strive to see them as a business. You cannot expect what you do not inspect and just like employees, investments must be inspected regularly.
I know this isn’t the flashy, get rich quick type of pitch we’re used to hearing, but it’s the truth. Wealth is created by earning lots of income (selling something for money whether a product, service, or your time), saving large amounts of the money you earn, and investing in scalable, income producing assets for a very long time. If this kind of coaching resounds with you, I want you to hire me as your Wealth Coach for 2018.
I can teach you how I scaled my business from $50,000 to $600,000 in just 2 years, invested a total of over $10 million of my own money and others’ money over the last 4 years, and I walk the walk. Look me up and you will see that I practice everything I preach. When you hire me as your Wealth Coach today, you will get over $40,000 of value PLUS a free ticket to the 10x Growth Con with me. My average client sees a 30% increase in income, a guaranteed increase in savings rate, and secures 8-12% fixed annual returns on their investments in the 1st 90 days of working with me. Click here to hire me as your coach.
Own Your Potential,
Jerry Fetta is a husband, son of Yahweh, Entrepreneur and owner of 5 privately held businesses. Jerry lives in Alaska with his wife and 2 dogs. His no-nonsense approach to business, finances, and life speaks truth and provides clarity to his clients and followers. His personal mission in life is to empower millions of leaders to own their God-given, ultimate potential