Hey friends, what’s happening?! It’s Richard, founder Short-Term Rental University and Airbnb super host. Today’s Monday thought is “always pay attention to what’s going on in all markets.”
What do I mean by that?
If we want to be proactive, grow ourselves and our businesses we have to pay attention to things that are at the periphery level of our interest. You may not be very interested in stocks, real estate or you crypto but you might be thinking about it. The best way to start to think about it is to hone your knowledge and start to pay attention to it carefully.
I personally find that I paid a lot more attention to these things when I take a micro position. I just like take a toehold in Bitcoin, for example, and now all of a sudden I’m paying attention to all of the Bitcoin news. I’m assessing and formulating but not really doing anything specific. Now that I have a little bit of skin in the game I’m paying a lot more acute attention.
One of the things that Charles and I were talking about right before I started filming this attached video is that I always have CNBC on in all of my homes. So as I walk from room to room I just can’t help but see the ticker tape, the news line or what the stock market is doing. I do not actively engage in it no but am I paying attention at a subconscious level.
If a headline or an alert or a price comes across that has some interest or meaning to me than I’m there. I’m focusing on paying attention, formulating either a game plan or a strategy, or an entrance or an exit when it pertains to me or my interests.
The point is to be paying attention to the market because you never know when inspiration or news is going to hit. This can apply to real estate as well. You may not be prepared to buy that 3-bedroom home on the lake but you should start paying attention to:
- the trends
- the pricing
- the listings
- the opportunities
- what’s going on in that market
months or even years before you’re ready to buy it. The time to be doing all of your homework is an advance of your transaction, not to do it really quickly and be ill-prepared. You do not want to enter into a very significant investment on rushed and limited research and understanding.
I just encourage everyone to figure out what it is that you’re interested in. It could be anything. it could be Birds, real estate, chess. It doesn’t matter what it is. Put yourself in a position where you’re constantly being fed experiences, exposure, news, and opportunity subliminally and that will give you comfort. Then act more aggressively and perhaps in a better fashion than if you were to just say, “now I’m ready, let me catch up. I’m gonna spend a week really crushing this and learning about it.”
How about weeks, months, even years of just passive learning? That wins every single time.
What do you do how do you like assimilate this knowledge on a perpetual basis?
How do you formulate these theories, these opportunities? Go ahead and share with us, I’d really appreciate that!
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Catch you next week.
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