You Can Never Stop Searching
Warren Buffet knows how to analyze an investment. He understands the numbers and knows where to look for the landmines.
Robert Kiyosaki is a real estate investor. He also knows how to analyze a deal.
Their knowledge is useful and necessary. It took decades to fine-tune. But it’s only useful if they keep looking for good deals.
Warren still reads financial reports every single day.
Robert continues his 100-1 strategy, looking at 100 properties, making offers on the best 10, getting a positive response from 5, and buying only 1.
The Winners Are Willing To Search Forever
I don’t think most people in the e-commerce space do enough searching. They research products for 10-20 hours and then invest in the ‘least mediocre’ product they found.
They don’t research much after that, and they never find those ‘gold nugget’ opportunities.
You can have all the skills, take every course and hire a personal coach, but if you don’t search until you find those ‘gold nugget’ deals, you’ll just apply your skills to mediocre opportunity.
If you search for 20 hours and find 1 great opportunity, you might think you got lucky and stick to that opportunity. The mindset shift is realizing that there are more opportunities, and you just need to put in the full 20 hours again and again and again to find them.
This is why Warren reads financial reports daily, why Robert looks at 100 deals before investing in just 1, and why I’m doing a few hours of product research every day.
Mixing highly refined skills with a mediocre opportunity produces a fizzle. Combining the same skills with a ‘gold nugget’ is explosive.