Positioning for Opportunities

How many times have you come across a story of someone creating or doing something amazing – and thought “I could do that”?

Opportunities are transient, and it’s those who are prepared that take advantage. What can be done to help you to jump on an opportunity that comes your way?

Knowledge

Kowledge is power they say. I say that it’s the application of knowledge that brings the returns. Either way, it’s time to brush up on your abilities to spot, analyse and react to an opportunity that comes along. There’s no real secret to this, hit the library, the internet, the financial press. Read anything that you think might be relevant, take opinions away and break them down, spot the holes, where things could be done better. Ask yourself what’s been missed?

Treat every day like a school day, aim to make a step forward in your financial education as often as possible.

Exposure

Seek and ye shall find. If you’re not looking for deals, you won’t find any. Better than that, if you let other people know that you’re looking for opportunities, you may find that they come to you with possibilities. If you’re interested in real estate, speak to the people in the business. Read the industry publications of whatever you feel is your preferred area. Take it right down to some small talk in and around your local area. Everybody sees opportunities on a daily basis, multiply your exposure to opportunity by multiplying your exposure to people. I shouldn’t even need to tell you what a boon the internet is for precisely this – take advantage!

Money

This is probably the least important aspect of positioning, although it’s one of the biggest causes of people not taking advantage of an opportuity. Money swills all around us and there’s lots of ways to raise some capital quickly. Loans from friends and relatives, companies with something to benefit, bank loans, 0% credit card deals, 0% overdrafts, even selling some unwanted possessions on ebay. If the deal is good, you should be able to convince people (and yourself!) to raise the money you need.

Fear

This is the real deal breaker. You can find and analyse as many opportunities as you like, but you’ll never win if you don’t play a hand. I find it’s best to do a “worst case” analysis, taking the deal and attempting to find the worst possible outcome. Often, you find that the fear you have of the deal is irrational.


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