If you are not asking yourself this question each and every time you stop to peek at a shiny investment opportunity you are doing yourself an injustice. In today’s world, millions of “things” compete for our attention, and investment opportunities are no exception. I wasted a whole bunch of time chasing each and every lead, regardless of whether or not I thought it would pan out. This is in part because I failed to ask myself the painful question “How Can I Profit From This?”
We are raised to be humble, to not covet material things. We are taught to be selfless, to put the needs of others before ourselves. I admire the idea of such traits, however if we are not at our best, how can we ever be able to help anyone else? We must first take care of our own finances, we must ask ourselves that very question each and every time another “deal” grabs our attention.
When you discover an opportunity to profit, then ask yourself why else should you focus on this opportunity. At what risk of time or investment is this profit we seek? Will it take us a year to make $1,000? Or will it take us a month to make $100,000?
“What’s in it for me?” is another taboo thought to have, yet this one goes right along with how we can profit from it. Being selfish isn’t all that bad, instead, think of it as a requirement towards being in a future position to help others selflessly.
Always begin with the end in mind, that means that we must first decide on how we will eventually “exit” this opportunity. By making these plans up front, you are better prepared to manage the investment opportunity because everything you do will be based on a specific strategy.