If you are a real estate investor or a business owner, you probably read the title of this post and immediately yelled, “Yes, Tom! I most definitely would spend $20,000 to make $100,000!” After all, you have an entrepreneurial mindset, and that makes you a very unique person in today’s society. You have the ability to look forward into the future and see a better future for yourself, your family, and your community if you make a good investment. As it turns out, most people would not make an investment. In fact, when a number of financial news outlets asked the question “What would you do with $20,000?” in a survey, the answers ranged from “Move to Thailand where the money will last longer” to “Save it because you cannot ‘make money’ with $20,000.” That second answer was from someone who believes the only way to make real investment returns is to buy more stocks than they (or apparently anyone else) can ever afford.
The mindset that essentially says you cannot invest in yourself or your business and come out ahead is growing in our society. It is a dangerous mindset, and one that investors, entrepreneurs, and business owners cannot afford to have. Fortunately for you, if you are already an investor, entrepreneur, or business owner, then you probably already understand what $20,000 can do when leveraged into your business correctly.
Think of it this way:
If you had the opportunity to buy a house for $10,000 and do $10,000 worth of repairs so you could sell the house for $120,000, would you figure out a way to get that $20,000 even if it included borrowing the money or going into business with a partner?
Of course, you would! That would be $50,000 each in profit after getting your initial $10,000 investment back if you partnered up 50/50. It would cost you just over $600 in addition to principle to borrow the money for six months at 9% interest. You can see the potential is incredible, and the odds are very good that as an investor or entrepreneurial-minded person, you are already figuring out how you would do this incredible deal.
But what about when the results of an investment are a little less immediately tangible? How does that change your perspective? In a lot of cases, investors who would borrow that $20,000 in a heartbeat in order to land a deal stop short when they consider investing that money in their own business – even when they know it will result in huge improvements in profits, productivity, and long-term impact on their communities.
At Good Success, we believe one of the most valuable resources you have personally or professionally is your network. You have probably heard the saying, “Your network is your net worth.” Well, I add a little bit to that tried-and-true saying: Your network is not just your net worth, it’s your survival plan. When the going gets tough, the economy gets shaky, or your business encounters a stumbling block (and believe me, we all encounter them), a truly valuable and effective network will provide you with the key to first identifying and then solving the problems that are holding you back.
Think of it this way:
- Would you spend $20,000 to make sure you are in business and making more money than ever 10 years from now?
- Would you spend $20,000 to make sure you could pursue and support your passions effectively and productively for the rest of your life?
- Would you spend $20,000 to gain access to a network of “fewer betters,” the people who are most likely to support you and help you grow your business for the rest of your life?
If the answer is “yes,” then the odds are good that you already are very focused not just on the success of your business, but also on Good Success. We created the Good Success Mastermind for investors and entrepreneurial business owners who want to live life on purpose for the specific reason they were created in the first place. That type of “return” is beyond price, and our goal in the Good Success Mastermind is to help each other reach those goals together while creating thriving businesses, families, and communities in the process.
