Part 3 - What differentiates a successful accredited investor? What makes them successful?

Continuation of previous article:
This the third article in the series describing my thoughts on what makes many accredited investors successful. How do they think and work? What differentiates them from those who have not achieved their goals? In the previous articles - Part 1 covered the first three elements that make them successful: having a dream that forces action, having desire to overcome challenges along the way, and having an end goal for reaching your dream while Part 2 covered the next three: understand change is hard, don’t let fear win, have a plan, and executing the plan. This article covers the final elements: constantly learn, continually improve, never give up, and giving back to others.

Constantly learn:
Successful people are always learning about things. They take advantage of spare time by reading or listening to tapes covering subjects of interest. They love to learn from other successful people how they overcame their fears and eventually succeeded in reaching their initial goals. These people never feel they have fully arrived at the end point. New challenges present themselves. New dreams are beyond their current ability to achieve without learning and moving forward through the required changes.

Continually improve:
When executing your plan, there most certainly will be new changes required as you find out about things not foreseen initially. Look at your plan and make adjustments as needed to keep moving forward with the new information incorporated into the plan. Keep improving the plan and associated actions over time as you get closer to the end goal.

Never give up:
Look at the Olympics - many of the Olympians at one point or another wanted to give up. Think about Great Britton during the World War when Winston Churchill told them never give up – what would have happened had they given up?

There is a difference between giving up out of fear and giving up because your dream was unrealistic (you want to be the first trillionaire). If you give up completely, then that is most likely due to fear. If your dream is unrealistic, then you should down-scope the end goal to something more achievable, but still beyond your current abilities. Remap your plan of action and work toward this readjusted goal. Once achieved, then look for another goal that again is achievable, but beyond your abilities. This process of continually achieving and creating new goals is what many successful accredited investors do over their lifetime. That has lead many to achieve things they would have never dreamed possible when initially starting on their journey of change. By continually growing and moving forward, each smaller achievement built upon another until their current success was achieved.

Give back:
Successful people give back. They want to help others achieve their dreams, if these people are sincere in their desire and show action toward working on the associated changes. They want to help their community and those less fortunate. They want to help the underprivileged learn to become self sufficient by providing tools (education, supplies, scholarships, etc.) these people can use to build a life of success. If you have not seen the recent movie “The Pursuit of Happyness”, I highly recommend it. That is a true story of an overcomer. Watch the bonus material to see how this once homeless man taking care of his son became an extremely successful Wall Street trader eventually owning his own firm. He now travels to Africa and helps many people there.

Summary:
These are my personal thoughts on what differentiates most successful accredited investors. These could also be true for anyone who dreams and works toward achieving their dreams. Be a dreamer and don’t give into fear. Learn from your fears and face them head on. Constantly facing and overcoming your fears will give you new confidence and belief in your ability to make things happen. Understand that you will always face some failures in life. We all do. The difference is how you react to those failures. Will you let them stop you or will you let them teach you? The choice is yours.

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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