80 Lessons Learned - Volume II - Business Lessons: On the Road from $80,000 to $80,000,000
By Thomas Beyer
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80 Lessons Learned - Volume II - Business Lessons - Thomas Beyer
Copyright © 2013 Thomas Beyer
All rights reserved. No parts of this work may be reproduced in any form, except short references giving the author credit, without the prior written consent of the publisher or author.
The information in this book is provided for information purposes and is intended to be a general guideline only. It is not legal, financial, tax, insurance or accounting advice. Such advice may only be given by licensed professional. It is just the author’s (informed?) opinion.
ISBN: 978-0-9921083-2-8
Publisher: Prestigious Properties® Canada Ltd.
Copyright Canada, USA & the World 2013
First Edition: October 2013
Author: Thomas Beyer
80 Lessons learned is available in the following formats:
ISBN: 978-0-9921083-0-4 – 80 Lessons Learned – complete book (print version)
ISBN: 978-0-9921083-1-1 – 80 Lessons Learned – I - In Life
ISBN: 978-0-9921083-2-8 – 80 Lessons Learned – II - In Business
ISBN: 978-0-9921083-3-5 – 80 Lessons Learned – III- In Real Estate
Feedback & Comments: thomasbeyer808080@gmail.com
May you learn a thing or eight! Please feel encouraged to drop me a line on what was most insightful .. and please drop me another line if you did not learn at least eight things (or if you actually found an error or typo)!
CONTENTS
Foreword by Don R. Campbell
Author’s Note and Acknowledgements
Dedication
Part 2: Business Lessons
Lesson 38: Communication – Selling and Marketing
Lesson 39: Communication – Know Your Advantage and Communicate It
Lesson 40: Communication – Speak Their Language
Lesson 41: Communication – Sales Process
Lesson 42: Communication – Relationships Come First
Lesson 43: Communication – Presentation Skills
Lesson 44: Partnering – Don’t Partner if You Don’t Have to
Lesson 45: How to Choose a Partner
Lesson 46: Immediate and Delayed Income
Lesson 47: Move Understanding Forward
Lesson 48: Have a Casual Disregard for Money
Lesson 49: Green Money vs. Red & Blue Money
Lesson 50: Spend Money Wisely
Lesson 51: Creating Momentum – The First Million Is the Hardest
Lesson 52: Generalist, Specialist, or Generalist Specialist
Lesson 53: Even Steve Jobs Was Replaced
Lesson 54: Risk – How Conservative Do You Want to Be?
Lesson 55: Risk – Fail Your Way to Success
Lesson 56: Risk – Tolerance to Risk Fluctuates
Lesson 57: Know Your Worth
Lesson 58: Investing – Wealth Planning Is About the Wealth of The Planner
Lesson 59: Investing – Choosing an Advisor for Your Investment Portfolio – Or Should You Do It Yourself?
Lesson 60: Investing – Real Estate in Your RRSP or TFSA?
Lesson 61: Investing – Maximize Your RRSP: Make 50-66 percent on the House
Epilogue
Afterword by Greg Habstritt
About the Author
FOREWARD BY DON R. CAMPBELL
There is a hard and fast rule in life, business and personal relationships, a rule that governs my choices. This simple yet very effective rule helps me stay focused on what works and allows me to propel myself forward in all aspects of life, while at the same time keeping me away from unwanted and frankly dangerous distractions. Most importantly, it helps me choose who to listen to and whose advice to take. I call this rule The Final 30 Feet Rule.
The Final 30 Feet Rule states: Never take advice from someone who has not already successfully accomplished what you want to be successful at. For a comedian, it means do not listen to anyone who hasn’t walked that final 30 feet from behind the curtain to standing alone in front of an audience. For investors or business owners, it means the only people worth listening to are those who have created business or investing success that far surpasses yours.
WHO IS YOUR TRAIL GUIDE?
By following this rule, you quickly eliminate most of the authors, advice givers or coaches because so many of them are theorists, with limited success in business. If I am on a dangerous and unfamiliar trail, I don’t want a guide who just has an idea about the trail, I want a guide who knows the trail like the back of their hand. They’ve been on the trail many times and they know the twists, turns and dangerous spots.
Why is this important for you to understand as you consider this book?
Simply, the author of this book, Thomas Beyer, is on my very small list of people who fit this description.
I continually learn from him.
To name just a few of the lessons included in this book:
Don’t Confuse Getting Things Done with Doing Them Yourself
The Phases of Cleaning Up Your Life Messes
The Anatomy of Uncomfortable Change
Asking Questions Separates You from the Crowd
How to Choose a Partner
Green Money vs. Red & Blue Money
When I look for insights into my business or investments I make sure that I speak with Thomas as part of my diligence. He is successful in business, in personal relationships and in real estate investing and in this book he shares 80 tips that will help propel you forward—as many of them have done along my journey.
Pick up the book, listen to someone who has already cleared the path forward with his own hard work and your journey will become much clearer.
Don R. Campbell
Investor, Bestselling Author & Philanthropist
www.DonRCampbell.com
AUTHOR’S NOTE & ACKNOWLEDGEMENTS
Real estate has been around hundreds of years. I didn’t invent apartment buildings nor their proper management nor their passive income or their leverage potential with income nor their tax deferral options nor their (usual) increase in value through time and improvements. Neither, for that matter, am I exceptionally good at investing in them. Knowing what you want is important as is careful p(l)anning, but execution is key, as is a sense of urgency, listening, reading and kaizen. Knowledge helps a lot, as does a sense of life’s opportunities and the ability to take advantage of them, but also useful is awareness of life’s risks and how to mitigate or manage them. Being in the market at the right time helps too. And thanking God and others is important, as is having fun while doing what some people call work.
And there are no guarantees or advice in this book, just (informed?) opinions!
Knowledge is no one’s sole domain. I acknowledge shamelessly copying other people’s good ideas that I picked up during conversations, telephone calls, meetings, presentations, education, courses, tapes and CDs over the years. Those people also learned and possibly also copied some of those ideas from other people’s books, tapes, CDs, courses, seminars or lectures. I have used material from the people listed below, and probably dozens more. Please forgive me if I have copied your original thought and not given you credit.
Many people have influenced my life, my values, my thought processes and my business and real estate investment career.
I wish to give credits to their sometimes very small or sometimes hugely influential contributions, many of which are sprinkled throughout this book:
Don & Connie Campbell, Greg Habstritt, Ozzie Jurrock, Raymond Aaron, Wright Thurston, Robert Allan, Patrick Francey, Robert Kiyosaki, Douglas Gray, Tom Peters, Stephen Covey, Ron LeGrande, Tim Johnston, Douglas Thiessen, Dale Carnegie, Charles Givens, Harry Dent, John Murphy, Lou Gerstner, Jesus, Warren Buffett, Steve Jobs, Bill Gates, Terry Regenwetter, Janet Perna, Dave Rencz, Barry McGuire, Richard Bell, Neil Fenna, Lyndon Thiessen, Tom Docking, Gary Allard, George Fabi, John Stobbe, George Hilton, Matthew & Stephen Johnston, Zig Ziglar, Sasha & Greg & Mike Uhryn, Jim Vincent, Dominic Mandato, Paul & Monica Prochnau, Randy Jamieson, Brian & Donna Barnett, Rick Jenkins, Christian Lendi, Ross & Teresa Gilker, Neil & Sandy Kaarsemaker, Peer Rumland, Richard Dolan, Achim & Hilde Goldbach, Thomas Heiden, Howard Weale, Val Toffoli, Debbie Bradford, Rory Sutter, David Steele, Peter Hebb, Jan Fialkowski, Chris Biasuti, Nancy Ternowski, Christine Friesen, Larry Menarik, Brian Tracey, Dennis Aitken, Don Rumpel, David Jennings, Pat Gilker, Marianne Engel, Michelle Naffin, John Kish, Doug Bittle, Rick & Sheila Bayer, Bernie Garnhum, Len & Janica Williamson, Peter Tsukahira, Jeff Coors, Paul Szkiler, Pierre Doyon, John Beckett, David Davis, Scotty & Annie Grubb, Christine Kopr, Denise Odam, Keith & Linda Weaver, Charlie Bredo, Rick & Lyn Linklater, Bob Short, Adam Killam, Chad & Evie Willox, Mike & Sandy Hammerlindl, Keith McMullen, Prod & Elenor Laquian, Richard Alexander, Charles Menzies, Erica Frank, Jens & HsingChi von Bergman, my sister Barbara and her husband Steven Ongena, my brother Holger and his wife Martina Steinhauer, Abe & Elfrieda Friesen, my father Detlef, my mother Ursula, my amazing wife Lynda, and our two children, Sonja Marie & David Benjamin.
Thank you, thank you all, for encouraging me to write down my thoughts, actions and insights, for