Author: Melvin Lynch

How To Develop Your Investor Mindset

We are in a time when more and more people are fed up with the metro-work-sleep routine. By the way, if you are reading this article, you are probably one of those people.

Break your limiting beliefs

The basis of your success is you! So start by convincing yourself that you are going to be successful. You need to realize that you are capable of doing great things, even if you think the opposite is true because… YOU ARE CAPABLE OF DOING GREAT THINGS. Most successful investors have graduated from major business schools, but when you look around, you find that many have succeeded without this background. How did they do it? Well, they believed in themselves and above all they took action.

Of course, if you’ve always had no confidence in yourself, it’s not something you are going to acquire like that, because you have decided to do so. If this is the case, I can only recommend a course of personal development. Amazon is full of excellent books on the subject and you will also find some great content on the web. If you are already confident in yourself, reinforcing this idea can only help you be successful. Remember this image: if you want to build a 100-story building, you will have to dig deep foundations so that it does not collapse. You are the foundation of your success, the bigger you want to build something, the stronger the foundation will have to be. So develop a winning mind!

Develop your knowledge

I’ll tell you a secret: I trade the stock markets every day and I don’t earn large sums but I understand what I’m doing. However, a few months ago, I was just a computer scientist and above all, I had no idea how trading works . You see what I mean ?

It is never too late to train. There are amounts of books that contain more than enough knowledge to start investing. There are also a number of training courses on the subject that are designed for people who have no prior knowledge in the field. You don’t need to have studied years to buy a building or a share. So take the time to train yourself and acquire the knowledge and gradually you will master the subject.

Identify all the opportunities

An investor is a person who is able to seize good opportunities. Investing is spending money with the aim of making it more profitable than the initial sum. We are talking about return on investment.

However, you can apply this method in everyday life without necessarily spending money. The goal is to train yourself to seize good opportunities, develop the “investor instinct”. Knowing how to give service is a form of investment because it is likely that in return, when you also need it, the person will help you. Another silly example: change lanes at the supermarket when a new cash register opens. You will lose your place in the current one, but there is a good chance that you will save time, especially if you are new to the new fund.

Become an opportunist, spot all kinds of opportunities , even the smallest, to sharpen your investor mind.

Know the difference between a good and a bad investment

You have to know how to differentiate 2 things in which you invest your money. Assets that will earn you money, such as a building to sell or rent, a share, … and liabilities that cost you money, such as a car, a television, …

An asset will bring you in the short, medium or long term more than what you will have spent to have it. It will therefore gradually increase your income. Conversely, a liability will not earn you anything. Take the example of your car or your smartphone: you can never sell it for more than what you bought it. A good investor should therefore try to spend as much of the money as possible on assets that will increase his cash flow. The goal is to create a virtuous circle, where the more money there is due to the assets, the more money we have to invest in the assets, therefore more income, so … I think you have including. So learn to differentiate between assets and liabilities and invest in assets.

Accept failure

The most famous investors like Warren Buffett, Richard Branson, Benjamin Graham,… have already all suffered failures: investments that did not work; promising startups that have not taken off; a fall in the price of real estate in an area that was very coveted before,…

We cannot always be right, and we inevitably suffer more or less major failures. Failure should not be seen as such but as an opportunity to learn. Why did you fail?

Understanding the reasons for your failures will help you avoid making the same mistakes. What will make your success will be your ability not to give up and always get up. There is no better lesson in life than to learn from your mistakes. So get started, don’t be afraid to make mistakes and when you do, take the time to take stock and understand why.

Business motivation: tips to boost your team!

“ Is my team motivated ? “Every good manager asks himself this question every day because his goal is to get the best from his team . The recognition of the value of each member of the sales team, their know-how , their skills but also the support and help provided by the manager are sources of sales motivation . Are there miracle solutions to succeed in motivating your troops? Whatever the company, each team is different, yes, but there are proven methods that every manager must apply to give salespeople the opportunity to work in the best possible conditions .

Give achievable objectives: an essential lever of commercial motivation

Setting detailed, motivating, achievable and planned business goals is essential for managing and motivating your sales force . Each member of your sales force must understand from which strategy derive their previously set objectives and their importance in the commercial performance of the company. Align the individual objectives of your team with those of the company in order to create a real commercial challenge with interesting stakes for the sales representatives .

This challenge very easily becomes a significant source of commercial motivation and involvement on the part of your sales force. To maximize their chances of achieving goals, it is essential for managers to gain buy-in from the whole team and create some cooperation and mutual aid . This emulation between team members is always beneficial for individual performance. By providing the means to achieve commercial objectives, you help employees develop their skills to develop professionally, gain autonomy and efficiency .

Be a good manager to boost sales motivation

Know that the attitude of a manager has a strong influence on the motivation of a sales team. Indeed, you must take the time to get to know each of the members of your team and to support them daily in their work . Support in achieving objectives and recognition from the manager are generally expected from salespeople. It is your role to provide support and support your employees while working with them to find their areas of progress to help them develop professionally internally.

This is one of the most important motivational criteria mentioned by salespeople: recognition of their efforts . This directly impacts their perception of their work and strengthens cohesion within the team. A good manager also knows what he is talking about and does not rest on just seeing performance gaps or problems. You have to constantly seek solutions, make decisions and apply them to avoid finding yourself with a demotivated team. To achieve this, stay tuned, manage conflict situations and be responsive to difficult situations . You must also be dynamic and convincing.

Provide your sales reps with effective digital tools: the sales dashboard

What a salesperson is above all looking for is support but also a certain autonomy. Using a reliable and efficient digital tool, you can follow their sales performance and support them without being too present. The geographic commercial dashboard is an excellent management tool that will both empower your employees and help them take initiatives. By using the dashboard, you facilitate and improve their daily performance thanks to its many features. It is more interesting for a salesperson to manage their objectives independently, to apply their methods and to visualize their results. He can then see his performance gapsand find solutions to reduce them. Let your teams manage their goals while keeping an eye on their results from a distance.

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