Part 1 - What differentiates a successful accredited investor? What makes them successful?

Overview:
This will be a little different from my usual articles. Rather than talk about a specific investment or investment technique, I felt it would be beneficial to talk about what makes many accredited investors successful. How do they think and work? What differentiates them from those who have not achieved their goals?

The information provided will be largely biased toward my own experiences and not necessarily representative of all accredited investors. With this in mind, I share my thoughts on what traits you need to be a successful accredited investor. I plan to complete this series in several parts with this article being part 1. Read the blog next week for part 2.

Common elements of a successful accredited investor:
In my view, elements of a successful accredited investor usually include the following:
- Have a dream: They want something that motivates change

- Have desire: They have a strong desire to reach the dream

- Have an end goal: They can visualize what life will be like when the dream is achieved

- Understand change is hard: They know change is hard

- Don’t let fear win: They don’t let fear stop them from moving forward

- Have a plan: They create a specific plan of action for changes needed to achieve their end goal

- Execute the plan: They work their plan

- Constantly learn: They love learning about new things, skills, how others overcome, etc.

- Continually improve: They refine/improve their plan of action while moving closer to the end goal

- Never give up: They don’t give up, but may readjust their end goal to be more realistic

- Give back: They want to give back by helping others succeed

I will cover each of these in more detail in this series of articles on the successful accredited investor.

Have a dream:
Deliberate success begins with a dream, not being satisfied with status quo. You need to see something beyond your reach that requires stretching yourself beyond your known current abilities and means. The dream must be strong enough to create desire to take action.

Have desire:
Your dream must create a strong enough desire to take action toward making a change. Most people have a very hard time making change. They may not be happy where they are in life, but they understand it and know what to expect. Even in misery, the person involved can find some strange level of comfort. The misery is familiar to them. They have learned to live within the associated environment and, to some extent know what to do, what to expect.

Have an end goal:
Visualize and understand what the end goal is. Where do you want to be and what do you want to be doing once the dream has been achieved? How will achieving the dream change your life? What does it look and feel like? Think about all the things that need to change in order to get you to that end goal.

Next article in the series:
Next week, the next article will cover understanding change is hard, overcoming fear, creating a plan of action toward the end goal, and executing that plan.

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Copyright 2008 Ole Cram. Ole Cram is President of Marcobe Investments, Inc., a corporation that invests in various oil and gas ventures and refers accredited investors, investment managers, financial advisors, investment funds, and others to the associated oil producer of these projects for their consideration to also participate. We are not licensed to sell any interest in a project, nor are we registered advisors. Feel free to email us at MarcobeInvestmentsInc@gmail.com with any questions, thoughts, or requests for other topics to cover in future articles.

This article was posted at Accredited Investor Blog: http://accreditedinvestortalk.blogspot.com/. Past articles can easily be found at http://www.MarcobeInvestmentsInc.com/Oil_and_Gas_Investor_TOC.html. This article is provided for educational purposes only and is not meant to be a substitute for tax, legal, financial, or other registered professional advice for your specific situation. Always seek the advice of a professional before making any related decision. Sphere: Related Content