Guest Blog by Jesse Lear, Founder & CEO of Epicurean Properties
I’ve always been fascinated by people who have a knack for making money. Here are 10 “under-the-radar” traits/skills I’ve noticed that seem to make a big difference:
1. Learn to sort large amounts of information and quickly identify what’s useful without being distracted by the rest.
2. Take time to *accurately* link causes and effects. “I did X and then Y happened, so I’m never doing X again” can send you full-speed down the wrong path if Z was actually the main culprit. Things aren’t always what they seem, and learning is only helpful if what you learn is true.
3. Treat your mental/emotional energy like a precious, limited resource and be careful not to waste it on drama or distractions that don’t align with your values/priorities/goals.
4. Realize that success and failure are not mystical forces, nor are they elements of a person’s identity or destiny. They are just temporary situations created by the choices we make. That’s it.
5. Recognize where money really comes from: people. The only predictable way to make a certain amount of $ is to find people who have it and then offer them something they value even more.
6. Understand that luck is almost always a factor, but almost never the determining factor. Luck often changes the cards in your hand. But how you play your cards is up to you.
7. Know the difference between a calculated risk and a lazy hail mary pass. It may seem like wealthy people take big risks. But if you look deeper, you’ll typically find layers of contingency plans carefully designed to maximize the odds of success and minimize potential losses.
8. Expect to throw a lot of darts. Unless you’re an experienced pro, your odds of hitting the bullseye on the first throw are extremely low. Making money is a skill, and skills take practice.
9. Stick with simple, already-proven business models. Pursuing an original, billion-dollar idea because you want to make more money is like trying to dig a new river because you want to go kayaking. Plenty of beautiful rivers already exist. Just find one you like and get in.
10. Learn to make complicated problems simple by identifying the largest contributing factors and focusing on them first.
Jesse Lear is Founder and CEO of Epicurean Properties; a luxury provider of furnished month-to-month rentals based in Columbus, OH. Driven by a passion for creating experiences, he considers himself a lifelong student of hospitality and enjoys finding innovative ways to delight Epicurean’s guests. Jesse and his various ventures have been featured in Fortune, Time, Forbes, Fast Company, Entrepreneur, and many other publications. Outside of work, Jesse enjoys kayaking, traveling, and trying new restaurants with his wife.