Growing a business is no easy task.
Often, building a successful startup requires trial and error, learning lessons quickly, and adapting your business model, mindset, and processes to fit market demand.
Those who don’t adapt fail.
Take it from Eric Ries, who wrote, “We must learn what customers really want, not what they say they want or what we think they should want.”
But, of course, figuring out what your market wants, how you should think, and even what processes you should follow is a real challenge. Which is why I’ve gathered up these 10 mind-blowing quotes from top investors around the world.
It’s not quite as valuable as having a mentor of your own, but it’ll get you moving toward success just a little bit faster if you listen to and apply their advice.
Quote #1, Grant Cardone
“Every time I get money, I go broke again because I shove it into this real estate thing.”
To build a bigger business, faster, one of the best things you can do is re-invest profits into your business. It’s a lesson that applies to every kind of startup — put more money into a business model that works and you’ll grow your business faster than the competition that’s hesitant to re-invest.
Quote #2, Harry Triguboff
“This is a lifetime job. You don’t look at it, you know, now and then. It doesn’t really matter. When the market comes down, then I buy my land very cheaply, so I make my money on that.”
Many amateur real estate investors think that a down market is a bad thing and that they must go back to their 9-5 job. Top investors, though, understand that isn’t the case. All markets are profitable for a smart investor who constantly adapts to what their market needs.
Quote #3, Raymond Kwok
“The Internet moves very fast. In the old world, we could afford to sit and analyze forever. But in the new world, the first mover has the advantage.”
Having a real estate business that adapts quickly is absolutely vital to success in today’s world. It’s not enough to run a one-trick-pony kind of business if you want to be wildly successful — instead, be flexible and adjust your business to market demands and to what your leads are asking for.
Quote #4, Stephen Ross
“There are those who work all day. Those who dream all day. And those who spend an hour dreaming before setting to work to fulfill those dreams. Go into the third category because there’s virtually no competition.”
This quote is more about your mindset. But it’s still vital — the way you think directly impact how successful you’ll be (some might even say that it’s the biggest factor in determining your success). According to Stephen Ross, you should dream a little and work a lot to out-perform your competition.
Quote #5, Donald Bren
“I really don’t think in the past. I sit down with many friends at dinner, and they like to talk about the good ol’ days. I’m respectful of the good ol’ days, but I find myself spending very little time reminiscing. I’m really looking forward.”
Focusing on the past is a surefire way to miss out on what’s happening right now. While it’s okay to think of pleasant memories every now and again, you must spend the majority of your time thinking about the task at hand and where you’re headed… or you’ll never get anywhere.
Quote #6, Sam Zell
“Whatever goals you set, you need to constantly readjust them so that at no time do you reach your goals before your time is up.”
Hitting goals feels amazing. But if you want to build a thriving business, you need to keep moving your target so that your business continues to grow. Otherwise you will stagnate.
Quote #7, Robert Kiyosaki
“The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way.”
All entrepreneurs face disappointment. And success isn’t determined by when, why, or even how much dissapointment you have to face, but by how you handle it when everything seems to be crashing down.
Quote #8, Barbara Corcoran
“In business, you’re the Chief Salesman. Create a sense of demand, rather than waiting to have demand.”
It’s easy to run a few advertisements and wait for motivated leads to call you on the phone. And that’s a great strategy to generate leads. But remember, you’re the primary salesperson for your business (especially in the beginning) — you must put a lot of effort forward if you want to see your business succeed.
Quote #9, Warren Buffett
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
In real estate, your reputation is everything. Protect it at all costs and don’t use shady marketing tactics to close a few deals if it’ll hurt your image down the road.
Quote #10, Benjamin Graham
“The intelligent investor is a realist who sells to optimists and buys from pessimists.”
The science of real estate investing is to buy from people who need to sell (motivated sellers) and to sell to people who are excited to buy. Focus your efforts on the right leads and you’ll spend less time on the phone and more time closing deals.
The fastest path to success is to learn from people who’ve gone before you. You don’t have near enough time to learn all of the lesson of growing a successful real estate business by trial-and-error, so you must learn from experts.
The above 10 quotes from top investors aren’t nearly as impactful as a mentor, but they will still get your wheels turning about how you should think and how you should run your business.
And that is a great place to start.