One of the lessons that a lot of people don’t do is math. Doing the math is very important.
People can jump into an endeavor with an idea of what they can make but they don’t actually crunch the numbers. This can be dangerous.
So always do the math and understand the numbers first.
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3. Limiting beliefs
5. Following through on ideas Open to new ideas
6. Do the math
7. Saving money
8. Using credit cards
9. Spending money
10. Excuses – Gossiping and news
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One of the lessons that I see that a lot of people don’t do is that they don’t do the math. The math is a very important thing. And unfortunately, people jump into something. They might have an idea in their mind of what they’re going to make on a certain endeavor, but they really haven’t penciled the numbers. One of the things that I created years ago, like in 2002’s was a cost to sell worksheet. And I realized that, Hey, everything that I did in the acquisition of that property was going to show up in the sale of that property and all the expenses that I had. If I didn’t anticipate those expenses, I was definitely going to pay the price at the time that I sell that property.
So I started doing the numbers and that cost to sell worksheet became so valuable that I made it part of my system. So now I literally give the cost to sell worksheet to my seller and I have them help me fill it out to determine exactly what is going to cost us to sell their property when we acquire their property. And then that helps us to get to a bottom line number that we can offer them. So do the math is a very important thing in any type of business that you get involved in, in any type of endeavor that you get involved in.