In yesterday’s Investors Forum session, we learnt from a specialist about the benefits of clarifying and constructing an overarching investment system for our personal wealth, as a way to consistently transform business profits into a portfolio that will eventually out-earn our income.
It was quite eye opening, even within a group of successful business leaders and seasoned investors.
He explained that in most cases, investors might understand how to successfully work with particular asset classes or investments, however, most do not implement process and systems as strategically as they would in their business.
He also explained that without clarity and strategy, many investors struggle to get out of the ‘acquisitions’ phase, which is only the second in five necessary stages on the way to the passive income that many of us would like to create.
The other major part of the equation is Team; making sure we have put together a highly capable and passionate Team to support us in achieving our personal wealth goals, just as you do or have done to assist you in achieving your business goals.
As successful leaders, we all know that clarity, strategy and Team are what provide the direction, action and leverage that produce our business results. However, none of us at this morning’s session were applying that winning formula to the same degree with regard to our personal wealth.
How about you?