I've been reading a very interesting book I thought I'd tell you about.
It backs up a theory we have been testing for around 5 years training over 100,000 how to become Property Investors, teaching ALL ages, experiences, demographics and sexes.
"Bounce: The Myth of Talent and The Power of Practice" - by Matthew Syed
It's all about how top performers in any and every field aren't especially 'talented' or gifted, or born with skills, but in fact are the people who have practiced the most.
Examples across many different sports and industries are shown to back up the theory with fact.
The author believes it's definitely not talent that drives success...but practice
[Don't get me wrong, to be the best takes lots of practice].
About 10,000 hours in fact. As Malcolm Gladwell agrees in his book 'Outliers'. Another great book.
Anyway, Mark and I recently looked back at some of the early Property deals we did back in 2005...
One word: LEMONS!
We certainly prove the theory that we weren't born Property Investors.
Of that, we are sure...
You only need to look at Mark's deal he bought in Bulgaria in 2003 or an early over priced new build mistake we bought in 2005 to see that.
But we've practiced a lot since then.
We've bought a lot.
And read a lot.
I don't say this to impress you, we'd have to be idiots not to get the lessons because by our best estimates, we've 'practiced' for a combined total of 17,000 hours.
So according to Gladwell and Syed, we're now experts in our field.
We believe some people do have some foundational talent that varies from person to person. There's no doubt that Tiger Woods has 'foundational' talent to play Golf [and other things] that's higher than average.
But maybe not by as much as you'd think.
So what's the point...as it applies to you?
You might think you're not cut out, good enough or born to become a Property Investor.
But we think you're probably wrong
Read. Learn. Do. Do Again. Make Mistakes. And experience. Try just one hour a day. You can quickly get to 'intermediate' level. Then 'advanced'. Then 'Expert'. And maybe even Master, or Artist. Shoot for those 10,000 hours. The payoff is compoundedly [a word?] huge.
It's disproportionately huge to the little amount of time you will spend once you get to 10,000 hours but continue to reap the rewards for many, many years to come
"You have to work hard enough to earn the right to not have to work hard"