I have been doing a lot of reading these days, as much as possible considering the long workdays. When working from home one might think you would be working less, but that is certainly not the case for our business in real estate!
One book I am ready by Brian Tracy talks about a formula that I have never heard before. It is called the 3% rule for investing in personal development. I have been a huge fan of personal growth/professional growth for many years – my telecommunications engineering world was always changing so adapting and learning new things was just a matter of course of the industry.
This is not always the case in many professions out there, often you learn the job in the first 3 months, and then that’s it – you could do essentially the same thing for 25 years. What would your professional life or business look like if you invested 3% of your earnings in courses, coaching, seminars, books/audiobooks each year? The results in the book were staggering – about a 50% increase in income, each year was the case studies used! That is some incredible leverage! (one of the best things about real estate investing is the leverage)
I certainly make an effort at our company to be growing and learning all the time – because if we are not growing we are dying….both mentally and physically. Real estate, entrepreneurship, life in general I think everyone would benefit from taking whatever percentage works for you and making sure you budget for, purchase, and most importantly execute on the things you learn from personal/professional development resources, you will be happy that you did!
To your success,
Tim Reid
-Respect The Hustle
