It doesn’t matter where I go people like to ask me questions. Maybe because it’s the circles I move in, and the fact that I’m getting pretty well known for things like mentoring and public speaking. Now, I made a point of answering a few last time, and these are just some more. Again, they are personal and professional – these answers are simply my take on things – I’m not saying this is the only way, just that this is the way I do things. You can always learn something from other people’s opinions. So, here are Five (more) Big Questions People Ask.
Which is better – buying a house or renting?
This is another example of looking at this in terms of the opportunity cost. You need to ask yourself just how much your assets are going to be tied up and for how long. More importantly, look at what else could you be doing with that money – are there opportunities you could miss out on because your money is tied up?
When it comes to houses, all this often has a lot more to do with emotion and ego than actual financial logic. So, honestly, whether you rent or buy a house, you’ll still get to use it for period of time. The same goes for a car. Now, it might be that you can keep quite a big chunk of your money free for investing in other things, simply by renting rather than buying. Buying that dream house ties up an awful lot of your finances. Ask yourself – could you be doing something more profitable with those assets?
Also, for me personally, it means I can be flexible about where I live. Sure, you can sell up and buy something somewhere else, but every time you do that it costs your money – quite a lot of money! What with taxes and fees, buying a home costs you! This is, of course, utterly personal. For me, I think it’s good because it means I can be agile, go where the work, move around the world very quickly. Sure, you can always sell your house, but that only really benefits the estate agents and the tax man.
What’s the easiest business to make money fast?
People tend to ask me this when they are really just looking for the lazy answer. I tell, them it’s the business that you know the best, the one where you are an expert, where you already have good networks and connections, where you’ve already invested your time and effort. That’s the business where you’ll find it easiest to make money.
Don’t keep looking around at other people’s businesses, because the grass is always greener. That’s because when you actually work in a sector, like property development, public speaking, mentoring or hospitality, you’re fully aware of the everyday hardships, the difficulties, all those frustrating the sticking points. Then you look across at other people and they look like they’re having a much easier time of it! Remember, you can’t always see the long hours they have put in. Sure, take an interest and see what you can learn. But then apply that to your area of expertise. Better to double down on any skills you need and do something you’re passionate.
Let’s face it, there’s going to be a lot of pain and hard work in this journey, you’ll miss out on holidays, family time, hanging out with your mates. So, if you want to make any business work – whatever it is, you’ll need to follow your passion, so you can draw on that energy when it gets tough. And it will.
Are you buying NFTs right now?
I’ll be honest I’m not. And there’s one pretty good reason why I’m not. Because, right now, I don’t have the time to get the right knowledge to make it pay. Obviously, I did get some crypto – I’ve got some Bitcoin and some Ethereum. But I haven’t really had the chance to buy NFTs seriously because I’d need to learn a lot more about them.
Whatever you are buying, if you don’t know about it, if you haven’t done your homework, if you don’t know the detail of the risk and the potential return, you are going to open yourself up to all kinds of problems.
All that being said – the one NTF that I do know little bit about is Bored Ape. That’s only really because I know that it operates more like an exclusive membership – so it’s a bit of a door opener like a Patek Philipe watch or a Bugatti –and anything that opens doors to that kind of club is a reasonable investment in and of itself.
What is your morning routine?
Well, a lot of people online would have you believe that the best thing to do is get up really early and do something cold or painful! I mean that’s a lot of bollocks. I just think everybody’s different. Some people are early risers and, logically, that makes a bit of sense because you can maybe get a bit of a head start on everybody else. But it could be too early? I think if I got up at 4am, by lunchtime I’d be tuckered out. I do a lot of my work in the evenings, especially networking. I go to a lot of dinners and lunches. So, really, from about midday through to about 2am, I’m actually working. So getting up again at 4am doesn’t make any sense.
Also, people quite often have strict rules about NOT getting straight on your phone first thing in the morning. Now, I look at my phone when I wake up because I want to know what’s going on, and I want to make some decisions early doors. Then I tend to go to the gym in the morning, and I like going the morning because it makes me feel fresh and ready for the day. I seriously believe you can’t be successful in business unless you doing something to keep in shape physically. Now obviously if I left that until later, there’s often times when I’m too busy later in the day, so that’s really just a practical thing for me. So, no I don’t think there’s any particular preference for a morning routine.
Is it important to stand out and be different?
Hell yes, it is! I think a lot of people, especially when they get busier and more successful, they look to outside agencies to do a lot of their posting on social media. You know, I’ve had brand agencies talk to me and say things like ‘we don’t think the way that you’re doing this, that and the other online, is really on brand for you?’ And my feeling is this. If you look at me online, and you don’t like me on my socials, you’re not going to like me in real life. And if you don’t like me in real life, we were never going to do business anyway! Be different but be yourself! I believe in that Oscar Wilde quote – there’s only one thing worse than everyone talking about you, and that’s nobody talking about you!
There are always more questions – and I’m always happy to answer them as honestly as I can. These are my personal answers and other people might have different ones – but like I said in the last question above – it’s just me. Take it or leave it!
