7 skills of highly effective investors

Kinda sorta, Mike Collins of rehablist.com put out this list of 7 skills for investors in 08. I'll post them below with my commentary in color.

Here are the 7 key skills you'll need for 2008...

1. Awareness. They were aware of the market shifting right under their feet. They didn't go "bubble" crazy and spread the fever. They were aware, not afraid.

A takeoff of this would be clear thinking, the ability to assess what's REALLY going on in the market and not react emotionally or irrationally. The ability to see shit for how hit really is. That's a very rare skill in today's society.

2. Adaptabilty. These savvy investors who are still profiting (some even MORE now) realize they have to adapt and overcome. When the market shifted, they shifted with it.

Yes! Adaptability, flexibitly whatever you wanna call it. You CANNOT be a 1 trick pony anymore you need skills and techniques to get deals close when they all of a sudden take a left turn.

3. Speedy Implementation. They spent very little time researching and more time taking action. They did not wait; they acted.

Speed also needs to be accompanied with agility!
Ready, Fire Aim!

4. They Take Their Marketing Education Seriously. Yes, this includes the "gurus". You need to be 100% committed to your education to stay ahead of the market.

To be a wealthy investor you've got to understand marketing. If you wanna live the fabulous life on Rolls Royce status then you MUST learn direct response marketing. If you're content with a Lexus then by all means stay put. If it aint broke don't fix it.

5. Never Hesitate to Invest In Their Education. Real millionaire methods come from being taught by the best.

6. Real World Testing and Tracking. Truly savvy investors know what works and what doesn't through testing and tracking. They have hard data and make results driven decisions to move their businesses forward.

7. Automation and Business Systems. If you are ever going to build true wealth and avoid stress you are going to have to learn how to automate tasks and put confusing processes into a simple system.

Pay people to do low dollar unproductive activities like cleaning, running errands, property mgmt etc while you focus on HIGH dollar activities that'll actually hit the bottomline. Work LESS earn MORE.