I’m back! Oh well, I periodically recycle old posts on my blog to ensure that new clients can benefit from valuable content they may have missed. Check out this post that I believe may capture the interest of those who have recently joined our community of investors.
Quantity does not always translate to quality. When it comes to networks, I know there are some people who spend lots of time at networking or business events to expand their connections because the more people they know, they have a higher number of opportunities open to them that may lead to professional advancement or financial success, and they have a wider circle of people to call on in times of trouble.
Oh really? Our social media pages give us the illusion that we know a huge number of people around the world.
I’m careful about the people I allow into my inner circle of trusted people. I don’t want to end up having a lot of superficial acquaintanceships instead of genuine friendships or relationships. It is much better to have a smaller circle of investors, friends and people I can trust instead of a large one. It is not about how many people I know, but rather how well I know them.
In reality, when you are going through a tough time in life, there are not many people or social media friends who can help you out. This is when you learn who your true friends are. It makes sense that people prefer to do business with others they know and trust and who believe on the long-term value of building mutually-beneficial relationship.
I’m selective about working with the “right” people regardless of their wealth and status. Having too many difficult or emotional clients due to their own insecurities or problems can lead to an overall decrease in quality of my challenging work dealing with the markets especially during extreme market conditions. There is no need for me to grab and please everyone and their dog.
Many of my well-diversified and disciplined investors have enjoyed their portfolio growth over the years besides having separate shorter term portfolios for other objectives. Airbnb CEO Brian Chesky once said, “If you are trying to win in the next year, and I am trying to win in the next five years, we both might win. I am ultimately going to win.”