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7 Main skills to master

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Sid23

Bronze Contributor
Aug 9, 2007
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7 main skills to master per my recent re-read of RDPD. I found this list extremely helpful and when I thought about the successful people I know, they all can do these things. Just thought others may find the list helpful.

1) Accounting - the ability to read numbers and understand financial statements.

2) Investing - the science of money making money, creative side of the brain.

3) Understanding markets - the ability to give the market what it wants.

4) Law - the understanding of tax advantages, laws, etc.

5) How to find / recognize an opportunity.

6) How to raise money.

7) How to organize smart people.
 

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Sid23

Bronze Contributor
Aug 9, 2007
683
107
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5) How to find / recognize an opportunity.

6) How to raise money.

7) How to organize smart people.
This list already assumes you can sell because you can't do 5-7 without being able to sell your vision, ideas, etc.
 

AroundTheWorld

Be in the Moment
Speedway Pass
Jul 24, 2007
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Thanks for the list! It's a nice organized way to look at skills to master.

I have 2 others to add...

* How to Nurture Relationships. This would include things like:

  • How to create win-win deals
  • Effective communication skills.... take responsibility, listen, go directly to the person you need to communicate with, listen, cut the gossip, listen, say what you mean and mean what you say, listen.
  • Make Deposits in the emotional bank accounts of others

* Understand Maslow's Hiarchy of Needs (or something similar) and don't get stuck.

Keep yourself growing and developing. The items at the top of the pyramid bring so much fulfillment, peace and joy - that the sooner you get there the better.



Relating this to money....

We need to make enough money to provide ourselves (and our family if we have one) shelter and food.

Then we need to feel "safe and secure" in our financial circumstance - what ever "safe and secure" may mean for us.

As we have these things - we will have the time to nurture relationships - and our esteem will grow.

Then comes the fun stuff.... Figuring out our higher purpose. Giving back. Integrating these values into our business and investing activities. Leaving a Legacy.


It is easy to get stuck in any one of these steps... or to think that meeting the need of shelter means that your 1400 SF home is not adequate shelter and you need to upgrade to the 5,000 SF home. I'm not saying don't go after your desires.... I'm just saying move up the pyramid and feel the joy of self-actualization.
 
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Sid23

Bronze Contributor
Aug 9, 2007
683
107
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ATW, great post. Lots of great ideas.

I'm adding some additional information that I read today...courtesy of Keith Ferrazzi's blog.

-------------------------------------
Tip 94 - Ask Yourself Seven Questions
-------------------------------------

To be successful, you need to ask yourself some tough questions. Here's a great exercise to get you thinking about your dream job or business. Commit to your answers by writing them down. These Seven Steps to Success come from Dr. Mark Goulston, author of Get Out of Your Own Way at Work.

1. What do you love making (product) or doing (service) that has enough value that other people would be willing and want to pay for (your DREAM)?

2. What desire or problem is your product (what you make) or service (what you do) the best answer or solution to (your VISION and MISSION)?

3. What people or what company has a desire or problem that most urgently needs your product or service, i.e. who are the ones that "Gotta have you!" (your MARKETING)?

4. How do you get those people or that company to be aware of their urgent need for your product or service (your ADVERTISING)?

5. How do you convince those people to buy that service or product that they "gotta have?" (your SALES)

6. How do you get your product or service to those people or that company (your PRODUCTION and DELIVERY)?

7. How do you continue to increase the satisfaction and enthusiasm for your product or service, so they'll tell others (your CUSTOMER SERVICE)?
 

yveskleinsky

Bronze Contributor
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Jul 26, 2007
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I think some other tips are:

1. What do you want? What are you willing to give up for it? ...For me this means sleeping in, procrastination and doodad expenses.

2. Master the basics. Practice, drill and rehearse the basics. There is a saying, "A successful person is an average person focused." I think the truth is that A successful person is an average person who focuses on the basics while still learning and applying the details. (Don't say it Russ! :smxB:)
 

Russ H

Gold Contributor
Read Millionaire Fastlane
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Jul 25, 2007
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yveskleinsky said:
(Don't say it Russ! )
Mmff! Mmff! Mmff!

(that's me with my hands over my mouth) :smxB:

-Russ H.
 

yveskleinsky

Bronze Contributor
Speedway Pass
Jul 26, 2007
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lol. I've been doing much better with focusing. It's not a skill that comes naturally to me, so it's been somewhat of an uphill climb- and I know that I have a long way to go before I get to where I want to be (in terms of focus). :)
 

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