Throughout the years as I run and build up my property portfolio, I have come to realise that these two activities have much more in common than anyone would think – Running and Investing. These are the 5 important traits I follow to keep myself going:
1. Being consistent
To be successful in running, you have to be consistent. A person who trains regularly will definitely be a better runner than one who trains very hard but is inconsistent in his training. I found that the same is equally true for savings. If you can save regularly, you will be more successful financially than someone who saves a huge lump sum only once in a while.
Success is really a habit.
2. Every bit of effort counts
I have found out in my years of running, that even the small training sessions do counts. There are times when I don’t feel good for a hard training, so I just head out for a short, slow run. Those runs helped me to maintain my stamina and running consistency. Compared to if I had not run at all that day, I would be worse off.
Similarly for savings, no matter how little you can save today, the amount will go a long way to build your wealth. It is ok to save with small amounts, the key thing is to keep saving.
Every drop makes an ocean.
3. Set aside time for training
One important ingredient for successful running is to have time for training. There is not enough time usually for working adults, especially for those with family commitments.
But if we truly set aside the time to do something, we can achieve what we want. I discovered that if I set aside time for training each day, I can focus better, train better and be more successful in my running.
If you can set aside an amount to save on your pay day each month, you will be able to accumulate more over the long term. Prioritise your savings each month before you spend your money.
There was a period of time that I had to lay off from my training runs due to injury. My injury was due to my eagerness to achieve a quick improvement in my running. I did not have the patience then to slowly build up my muscle strength. I went for very hard training consecutively and I ended up injuring myself. I was just being greedy for quick success.
Similarly for your savings or investments, do not be distracted by greed or get-rich-quick methods. Great stamina needs time to build up. Great wealth will be attained through steady and good investments.
5. Having a Coach
In order to run like a champion, you need a coach to help you get to the next level. Having a good coach can save you a lot of time from training mistakes, and give you a leverage over your competitors.
The coach will be able to correct your improper techniques. If you are already very good, he will be able to bring awareness to your blind spots and help you fine-tune your performance.
This is especially true in investment. You need someone who has the knowledge and experience to help you accumulate your wealth, both faster and better.