This weekend I was at a wealth creation seminar where the main guest speaker was Richard Reed, co founder of Innocent drinks, the £100 million pound a year number one smoothie brand in the UK. Although Richard was talking about business it is incredible how much of his points were directly relevant to successful property investing. Richard gave a very informative and inspirational talk in which he shared what he thought are the two biggest success secrets.
Richard explained that he has met many successful people in business and politics all of whom had just two factors in common:
1) They started
2) They never stopped
Many people have a great business idea or want to invest in property but never take the first step. Often that first leap of faith can be difficult but it is all you need to get you started. You can make it easier and safer with education and market research to minimise the risks.
To be successful in anything, once you have started, you need to keep going and never give up. Richard was keen to point out that if you are not making any progress then there is no point in banging your head against a brick wall but rather you need to find a way around, over or under any obstacles in your way.
Far too often people give up just before they would achieve success. When they started Innocent drinks and were looking to raise finance, Richard said they were turned down by 20 main banks and every venture capitalist in London. They were about to give up when in a final desperate attempt they sent an email to everyone they knew in London with the subject “Do you know anyone who is Rich”. Incredible this email marketing campaign worked and they found an investor who agreed to back their company.
This reminded me of one of the tips I share with the property investors on my one day Property Investing Quick Start Seminar. I believe that one of the easiest ways to find motivated sellers who will sell their property below market value (BMV) is to tell everyone what you do. I mean tell everyone that you invest in property. Whenever you meet people and they ask you what you do tell them you are a property problem solver. It always helps if you have some property business cards with you so that you look professional.
Anyway back to Richard Reed, who also shared that he considers himself very lucky that he had two other partners to help him build the Innocent drinks business. They were able to bounce ideas off each other and focus on just the things they were good at. Again this is true in property investing.
Smart property investors recognise that it can be difficult and lonely trying to build a property portfolio on their own. They realise it is much easier and quicker if you get other people to help you. This is why many investors come to our property investors network (pin) meetings every month, to meet like-minded people, to learn from other property investors and find the people they need to help them.
Finally Richard said that they have writing a book about Innocent drinks. If it is half as good as Richard Reed’s presentation it will be fantastic. I have just ordered my copy on Amazon.
Founder, property investors network
Author of the Amazon No 1 best-seller “Property Magic”