Thursday, November 13, 2014

Investor's Book Club

Recently, I started an accountability arrangement with a fellow real estate investor. We wrote our goals for different aspect of our life and business, and everyday we send each other our "To Do" list for the day. 

After getting home at 7 am between two events, I jumped in my bed and into the warm blankets and I was planning on watching a show on Netflix. Before I did, I checked my email and received my accountability partner's "To Do" list. Instead of staying in bed, I got up and made my own "To Do" list for the day. I would have spent the whole morning in bed but instead I ended up working on my business and got tons of stuff accomplished. 

Thanks Partner!!

One of the goal I made for myself was Education. I decided I would dedicate a portion of my day every day towards my education. I have taken many classes in real estate investing, stock investing, sales and negotiation, business planning, and presenting. It is important to always be learning. So now that I have taken so many classes, I am still dedicating time to my education but more in the form of books. There are amazing books out there that share great information.

The problem is, as was demonstrated in the study of the Cone of Learning, we only retain 10% of what we read. I love reading, and I love learning, but 10% is not great results. So if I want to increase the value of the time I spend reading I need to make reading into a more active form of learning. My solution was to create a book club dedicated for investors. Participating into a discussion increases the level of retention to 70%. 

If you find yourself in the same situation as me, and you would like to increase the value of the books you read and the time you dedicate to it; join my Facebook group Investor's Book Club.

I have an extensive investor's library but many of my books are still unread or I don't remember many of the key points in the ones I have read. I am looking forward to starting the first book with the book club and to debate and discuss what I learn.