To be a Mogul takes brains and heart.
Today is a tough time for anyone who wants to be a success.
But no matter what the economic climate is it’s always tough. So what can we take from this? After all look at Dubai, $60Billion (US) in debt that had been or is near default. In case you are not aware the UAE economy is not based on petroleum exports. Oil accounts for only 6% (probably less now) of their total economy. Sheik Mohammed bin Rashid Al Maktoum the Mogul who is personally respinsible for anyone outside or the middle east to even have heard off Dubai is faacing the same crisis’s that you will continually face in your career as a real estate mogul. Ok his invetments are all being dragged down by the global real estate collapse this much is true but the fact that Dubai Worlds $60billion debt has had such a profound effect over all of the regions stock markets is the kind of reaction that takes down global economies. the point is there will be back up funding found. this is just the knee jerk reaction to an announcement during the US thanksgiving holiday and with other days where the news was delayed the worst-case scenario that will not likely happen has been growing in investors minds. it’s a self fulfilling prophecy really. if they are having a problem i better get money out of there and so it grows until everyone is selling and prices drop so low that another group seeing an opportunity to make a killing on cheap stocks and inventory buys up the depressed issues only to sell them back to the same investors in 9 months for 40% more than they sold them for in winter. if they had just stood by the strength of the companies they own and not panic they would have saved themselves a ton of cash but maybe lost some sleep and probably a few arguements with family members who are your worst enemy in investing if they don’t share your mogul mindset.
Who else is being taken to task in the news today. Tiger Woods arguably the greatest golfer in the history of the game is being speculated about his personal life on every Radio and TV channel and online. Why? because he has what so many others don’t have. Success. Human nature was described to me with this analogy that we all are a lot like crabs. If you’ve ever seen crabs in a crate together they are always pulling one another back down inside the crate. From a quick look at TV or the inner city or even in high school humans are constantly doing this too. I have no doubt that Tiger woods will be back because his mindset and his close circle of advisors is on his side as evidenced by the fact that nobody in 4 days has been talking to the media. So thats the heart part of it. The brains is taking the time to know that you will be attacked for your ideas and actions and to plan how you are going to deal with the onslaught. What is key is to distance yourself from doubters who just doubt as a programmed reaction to new ideas. I’m not suggesting to be disloyal but be sure your loyalty is going to be reciprocated in the tough times that will come from being a mogul. There is so much inner game required to win at being the real estate or any other kind of mogul that few ever reach that level. with just the right idea you have an idea, add the right attitude you can move mountains. when the two are combined you can change the world. it truly is greater than the sum of its parts.