Here’s proof on the power of focus in investing – and beyond. Stuart Zadel discusses.
In the mid 1970’s Walter Swann of Bisbee, Arizona, USA, wrote a book about growing up with his brother Henry. He titled it “Me ‘n’ Henry”. Unfortunately, he couldn’t find a publisher.
What did he do?
He self-published his own book.
The next challenge? He couldn’t find a distributor.
So he opened his own book store.
His bookstore carried just one title. You guessed it: “Me ‘n’ Henry”.
He named his bookstore appropriately: the ‘One Book Bookstore’.
Trade was brisk.
In fact, so successful was his first book, he wrote a second book, “Me ‘n’ Mamma”. He self-published that too, and sold it in an adjacent store. Again appropriately named ‘The Other Book Bookstore’.
Swann became a sort of folk hero in the 1970’s as well as Bisbee’s most famous citizen. He appeared in ‘People Magazine’ and on the David Letterman Show. He also made great money in the process, month-in month-out, to live his life on his terms and look after his family.
How was Walter Swann able to accomplish with just one book, what mega book chains are unable to accomplish with thousands of books?
ONE WORD: FOCUS
Just like in property, regardless of what the market is doing, there’s always an opportunity to make good money – if you focus. But if you’re relying on traditional buy-and-hold, negative-gearing mentality, then you’re hoping and praying that property prices continue to rise, interest rates stay low and global bankers know what they are doing, good luck!
In various industries right now, I believe there’s 6 strategies you can focus on to make phenomenal profits.
1. Property Renovation
2. Property Development
3. Property Options
4. Product Importing
5. Website Renovation
6. Public Speaking
Like Walter above, you only need one to get started. And who know’s, maybe you’ll be publishing your own book one day titled ‘Me ‘n’ Property’?