The 4 Principals of Enduring Success. Per Harvard

My wife and I were taking a trip to Monterey, CA this past weekend, so I needed to grab some in-flight reading material. I thumbed thru the magazines in the adventure section, past the section titled “Men’s Interest” and landed in the business section. Business wouldn’t you know it, I am so predictable.

The Harvard Business Review had a double issue out for July-August 2007 which I purchased. Had seen the magazine before but never got it, likely due to price, this issue was $16.95. So at 33,000 feet I am checking this baby out. I love the way it’s written, very clear, succinct, with no BS. Having my undergrad in science, I really appreciated their research and works. So let me share a few things from there with you.

The 4 Principals of Enduring Success

1. Exploit before you Explore. Simply put the companies Harvard researched historically exploited there existing assets and capabilities before they explored new ones. Chew on that awhile, something to think about.

2. Diversify Your Business Portfolio. “Good companies stick to there knitting, but the great companies know when to diversify. They are careful also to maintain a wide range of supplier and a broad base of customers. ” I love this thinking.

3. Remember Your Mistakes. “Great companies tell and retell stories of past failures to make sure they do not repeat them!” Put that in ya book!

4. Be Conservative About Change. Great companies rarely make radical changes, plus they take great care and respect in there planning and implementation.

I will not bore you with what this Harvard team went thru to get this data, but I will sum it up by saying this to get those four little principals of enduring success they had 4 volumes of material totaling 3,114 pages. Now that is critical thinking, and excellent research. It gave me a whole new perspective as I was putting my tray table in its full upright and locked position.

Bill Guerra resides and invests in Las Vegas, Nevada. He’s been a part of the real estate market in both up times and down, and has proven he knows how to make a profit even when “the cheese moves.”

When Bill began his life-altering path into real estate investing, he was dead broke and steeped in debt. The very idea of buying houses costing thousands of dollars seemed absurd and unrealistic.

But after a lot of personal research and a good bit of soul searching (not to mention some good old trial and error) Bill invested in his education, by purchasing some real estate investing courses. But rather than just letting them collect dust on the shelf as many do, Bill actually applied them in his own local market.

Amazingly, Bill has Bird-dogged, wholesaled, partnered, rehabbed, or purchased a total of 133 hours in 36 months - in a sellers market!

As he went through various real estate investing courses, he found a few that were great and many that were not. He discovered that one of the most crucial aspects of real estate investing was either glossed over or completely ignored in these courses. None of these courses took the time to teach the art of talking with sellers—questioning and prescreening them for motivation. Initially, Bill wasted many hours each week chasing sellers that were not motivated to sell quickly. Through a series of successes, Bill learned what it takes to screen for motivated sellers. His book, How to Talk with Real Estate Sellers is the result of many hours of documenting what questions and phrases worked, and identifying which ones did not.As he went through various real estate investing courses, he found a few that were great and many that were not. He discovered that one of the most crucial aspects of real estate investing was either glossed over or completely ignored in these courses. None of these courses took the time to teach the art of talking with sellers—questioning and prescreening them for motivation.

Initially, Bill wasted many hours each week chasing sellers that were not motivated to sell quickly. Through a series of successes, Bill learned what it takes to screen for motivated sellers. His book, How to Talk with Real Estate Sellers is the result of many hours of documenting what questions and phrases worked, and identifying which ones did not.

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