Self-inflicted loss80% of the books you read out there are a waste of time. This is still much better than the number of movies: 95%. Or the number of TV shows: 100%. But from time to time, you find good stuff. One of the problems I see today in many people is their will to overachieve. They go to a congress, present volunteer to a group of whatever, but then, they need to go to the hairdresser, pass the inspection of their car, they have to go to the Christmas party of their company, the Christmas party of...Read more
It's great to be disappointedA few days ago, I talked to you about the Stoics. They always expected to be disappointed. It was a way of emotionally preparing to be ready for surprises that you may not want. By being that prepared, you can be calm when things do not go your way. When you are calm, you think better. You react better. You are in control. And being in control is essential in life. I see to often people that are upset for things that are not in their direct hand. They swear and swear. But they do nothing to...Read more
The reason you need a teamI have two cats. And I keep a phone to call a vet in case of emergency. Many people do this too. I have the phone of an electrician, a plumber, a dentist, a doctor… to call in case of emergency. Many people do this too. I have the phone of the insurance and the AA for car assistance with me. Many people do this too. I have the phone of a lawyer to call in case of emergency. Some people do this too. I have the phone of someone to call in case of emergency for investments and financial doubts...Read more
My advice to a friendLast week I met a friend. Talking about life and business, he told me his case. As I don’t know if he is in this newsletter, let’s say that his name is James. James is a good professional. He makes good money. He gets regular raises, even bonuses. But he feels that he’s not making progress. He is in debt. A big house. A nice car. Regular holidays. A little bit addicted to not having at 0$ his credit card. With every promotion, there is a disappointment about the extra work, extra...Read more
Be gentle... this is whyVery good people. Highly educated people. Top performers in their field are usually too hard on themselves. They don’t need a stupid boss. They do the nasty job on themselves much better. For every mistake, they dig and dig and dig on it. That’s wrong. My brother uses to say that your brain is always listening to you. And many times, it does not know if you are joking. So, be especially aware of the words that come from your heart, your stomach, and your soul. If you are going to make a...Read more
You’ll thank EpictetusIt’s all about perspectives. I love the Stoics. They are very Good at that. Epictetus, one of the main philosophers of the movement, said that every situation has two handles. We can grab onto resentment or gratitude. We can focus on obstacles or look closer and see opportunities. That nagging pain in your leg—thank you, it’s making me take things slow. That difficult client—thank you, it’s helping me develop better boundaries. That damage from the storm—thank you, the damage exposed a more...Read more
And the best teacher is... Sometimes in business you fail. Overconfidence. Bad calculations. Hiring the bad people. Weak systems… and a few times, simply bad luck. My failures and my teachers. My losses my investment. I’m lucky that I have a successful brother and remembers me all these things. He is also able to see the good news in every failure, even if it is a great loss. As Robert Kiyosaki said: Success is a poor teacher. We learn the most about ourselves when we fail, so don’t be afraid of failing. Failing is...Read more
Just do itNike’s slogan, “Just do it,” says it best. Start doing things. Small steps until you improve. Until you arrive where you want to be. However, society tells us different. Especially at school. Or at work. “Don’t make mistakes.” This is what they say. Millions of highly educated and not that highly educated people who want to take action are paralyzed by the emotional fear of making mistakes. Sorry, but learning is about making mistakes. It’s about creating a business and see it fail. It’s...Read more
This is killing your brainStaying on a dead end is madness. You know it. But your reptile brain keeps you down. Quiet. Without moving. There are too many dangers outside the tribe. Too much fear. This is the reason why: People stay in marriages where there is no longer any love People stay at dead-end jobs People hang on to old clothes and things they never use People stay in towns where they have no future People stay friends with people who hold them back Too comfy to move. Too comfy to admit that the absence of...Read more
They call me BisonMy brother and my sister call me: Bison. I like to believe that it’s not because of the Russian Street Fighter character, but the animal. Bison are the only animals that walk toward storms instead of fleeing from them. In the midst of a storm, when everything seems chaotic, bison make a surprising decision: they move directly toward it. They don’t do this out of recklessness. No. They instinctively know that by walking into the storm, they’ll spend less time under its effects and emerge on...Read more
Breathing reality"For those who deny reality, reality is ruthless." If you insist on imposing your vision of the world on others instead of observing, accepting reality, and navigating it, you’ll end up screwed. Nice sentences that you see in websites, social media and so on. And you believe them, because if they are there… they may be true. However, think twice of that nonsense. Reality isn’t ruthless to those who deny it—reality is ruthless, period. And the nuance is important. Reality doesn’t expect...Read more
And the best teacher is... Sometimes in business you fail. Overconfidence. Bad calculations. Hiring the bad people. Weak systems… and a few times, simply bad luck. My failures and my teachers. My losses my investment. I’m lucky that I have a successful brother and remembers me all these things. He is also able to see the good news in every failure, even if it is a great loss. As Robert Kiyosaki said: Success is a poor teacher. We learn the most about ourselves when we fail, so don’t be afraid of failing. Failing is...Read more
What is your goal in life? The answer is found in the simple, yet profound, statement by a Vietnamese monk, Thich Naht Hahn: “The path is the goal.” In other words, finding your path in life is your goal in life. Not your job, how much money you make, your title, who you marry, or your successes and failures. People that are looking for that path never get unmotivated, bored, blocked. Looking for that path fuels your inner energy. If you make that path enjoyable, meeting new people, visiting new places, learning new...Read more
You want people in a Rolls Royce“Wall Street is the only place that people ride to in a Rolls Royce, to get advice from those who take the subway” - Warren Buffett If this sentence does not make you think for a while, read it twice. Or three, four, five times until your head blows up. This sentence contains the essential difference between an advisor and a mentor. The first talks to you from almost the academia. The second from life experience. At my MBA I thought that I’d see rich professors… but I didn’t. It was supposed...Read more
A picture that says a lotToday Codie Sanchez made my email. You choose your hard... so please don’t complain. I’ve been in both, and I’m still deciding what to do next. I take my time, with no rush. I like what I do in the infrastructure and real estate space, but also I appreciate freedom. At some moments, everyone has doubts, everyone feels overwhelmed, frustrated, angered, in despair. Some people take it for themselves, and keep in pain and frustration. Others go to talk to mentors, coaches and people that are in...Read more
Don't do this through WhatsAppThe podcast? Recorded online.The sale? Done via email.Prospecting? Through social media. Dating? On Tinder. Saying no? Through WhatsApp. Firing someone? On a piece of paper. The meeting? On videoconference. The reasons for a raise? In a Power Point. Persistence? Better not, just in case it annoys someone. Something very similar was explained a few days ago by the great Monge Malo, the best sales coach in Spanish language this week. And he is so right. You spend your life doing whatever it...Read more
How to quit your 9-5?That’s the one million dollar question… well, actually you need more than 1 million I guess… When asked how to do it through real estate is not that easy. The cash conversion cycle in real estate is slow. If you're making $10,000 monthly with bills to match, don’t try to jump out the ship yet. Your first properties won't generate enough cash flow to replace your income. Nor the second. Nor the third. Plan for a decade-long transition where inflation and appreciation do the heavy lifting....Read more
Don’t be average.Let’s talk today about… Brian. Brian is nothing remarkable, nothing to fight for, no ambitions in life. He lives on the surface of things, never digging deeper into any aspect of life. He’s more focused on appearance, image, and "seeming" than on "being." He’s an insatiable consumer, constantly chasing the satisfaction of material desires. He lacks a solid framework of values and principles. His morality shifts with the circumstances, leading to inconsistent and incoherent behavior. He always...Read more
Why you need qualityMany people choose job security instead of financial security. I don’t blame them. Of course, not. In the world we need all kind of people. But when someone ask me where to start for financial security, I refer them to real estate. Why? It’s tangible. You see it. Even if there are many other alternatives. And then, they ask me for tips. And I always give one. Focus on quality. You’ve probably heard the location, location, location, but it’s more profound than just that. For example, for one...Read more
What happens when you fire someoneTwo things happen. The first one is relief. You eliminated a liability. You saved time. You start sleeping well at night. The second one is regret. For not having done it earlier. This has happened to me every single time. There is something I do, and I do recommend you do. With your employee, with your company, with your manager, with your subcontractor, with your real estate agent. Take your time to “hire” and do it carefully after having done all your due diligence. Don’t rush But it does...Read more
The Antagonist