What Do Successful Investors Have In Common?
Well, there are a lot of things.
But, there is one habit nearly every successful investor shares: They are masters of time management.
The fundamentals of investing involve consuming information, processing that information, then acting upon that information.
So, how do you find time to consume, process, and act?
You have to outsource the tasks and obligations that you shouldn’t be wasting your time on.
Just ten years ago, that meant hiring an employee to take care of accounting, another for research, another for scheduling, and another for everything else…
Only the super wealthy could afford having a team of people to assist them.
But a lot of that has changed.
The internet has given us tools and access to people that can completely change the way you run your life.
And if you aren’t taking advantage of these options, then you’re wasting your precious time.
If you aren’t using tools like these today… start now!
Now here is the other thing the internet provides us… access to people from around the globe.
We all know about major companies that outsource their customer care to different countries. We’ve all spoken with customer service agents that are located half way around the world.
Why do you think companies hire foreign employees? Because it’s cheap!
Why do you think those employees want to work for those companies? Because it pays a heck of a lot better than what they have available otherwise.
But, foreign labor is no longer just available to the mega corporations. Everyday people can start to take advantage of this great resource.
Think about it this way… let’s pretend you are a small business owner who has limited time for scheduling. You need to be able to schedule multiple phone calls per day, answer simple emails, and ensure that you have a calendar that doesn’t have conflicts.
(If you are a business owner, you can attest to the hours of time you spend every month with back and forth emails to just schedule phone calls, meetings, and pickup/delivery times.)
What if you had an assistant that took care of ALL of that for you? What would you pay for that?
Well, in the US that position is called an administrative assistant and it has an average salary of $40,000 per year.
What if you could hire someone that does that same exact work for only $5,000 per year? And instead of calling them an administrative assistant, you called them a virtual assistant…
Oh, and that price tag is for a FULL TIME virtual assistant. If you need less than 40 hours a week, that price comes down significantly.
OK, you get where I’m going here… you need to divide and conquer!
You need to outsource the tasks that bog you down on a daily basis, so you can focus on the important things that lead to a successful bottom line.
That’s how some of the most successful people in the world get to where they are. They build a team around them so they can get more done and use their time more effectively.
And today, the ability to build that team virtually is available to nearly everyone.
Easier Said Than Done
It’s not like you can just send a couple emails, hire a virtual assistant, and voila, your team is made.
You’ve got to do a bit of work to get the right people and ensure that you aren’t adding more work to your already hectic schedule.
That is one of the reasons why we are headed to Ukraine in late September.
There is a reason why:
- Google, Microsoft, and Uber all have workers there.
- Huffington Post has called Ukraine one of the “Top Tech Ecosystems Outside of the United States.”
- Many European countries are outsourcing work to Ukraine.
- Tech businesses in Ukraine cities are thriving thanks to outsourcing, and 90 percent of the clients are US, Canadian, and European companies.
- Ukraine has the largest tech talent pool in Europe, and fourth largest globally, preceded only by the US, India, and Russia.
Now, there are many other reasons why we are going to Ukraine. One of which is to check out the crypto currency world, which Forbes has said is “Leading a Digital Currency Revolution.”
Bitcoin embassy in Kyiv.
Many Explorer Partnership members have already committed to going on the trip. If it’s anything like our Colombia trip (which it will be!) then I know we are in for some seriously fun and productive times!