Whereas there are many investors worldwide, there is always a differentiating factor between the successful ones and the not-so-successful ones. These key factors however, whether identified by way of their natural talents or through the skills they’ve learnt over the years in their careers are arguably their qualities; often admired and wished upon by the upcoming investors and entrepreneurs alike. Listed here-under are the top 7 qualities of a successful investor that can be applied to those investing in the wine market.
- Successful Investors Are Focused
The road to success is often marred with challenges that will require a lot of sacrifice and hard work to prosper. Staying focused is the key trait that will distinguish a successful investor from the unsuccessful one. Focusing on your investment vehicle and outweighing all others regardless of any temptations such as quick returns on investment will enable you attain your end goals successfully.
For example, just to mention a few successful and renowned investors, Warren Buffett is focused on stocks, Tim Ferris on angel investing, and Jim Rogers on commodities future – so should you be as focused if you’re to join and be part of the successful bigwigs in business.
- Successful Investors Are Proactive Learners
Constantly learning new things and incorporating them into your daily life is arguably one of the simplest yet gratifying ways to attaining your set goals. As well put by Eli Landa, “Being proactive is a pillar of spiritual growth and meaningful development.”
Unlike average investors, successful investors are proactive learners. Their urge and willingness to learn is often insatiable hence their ability to prosper even when the prevailing market trends dictate otherwise. They will often be engaged in activities that will enlighten them such as attending self development seminars, reading investment and personal development books, novels and magazines with an aim to increase their knowledge.
- They’re Strategic
Successful investors have a well defined investing strategy well laid out right from inception, implementation, diversification – if need be, and finally its execution. While at it, you should always consider and be prepared for any eventuality since the market is unpredictable.
- Highly Successful Investors Rely on Knowledgeable Advisors
Unlike the average investor who may rely on his own insight to make decisions on investment, a successful investor will often work in conjunction with a team of professional and knowledgeable advisors to safeguard their investment and avoid losses. Successful investors also often team-up as friends and take time to suggest, scrutinize and evaluate the market trends and any investment challenges and brainstorm the best ways to solve them.
- Successful Investors Are calm and Collected
Since the market trends are often unpredictable, being calm is a necessary trait in the investment world. Getting into a panic mode due to fluctuations in market prices, rise in political temperatures which in turn affect your return on investments is a preserve of the unsuccessful entrepreneurs since the successful investors stay calm and collected while focusing on their goals.
- Successful Investors are Patient
Just as Rome wasn’t built in a day, successful investors acknowledge the fact that it takes a considerable amount of time, effort and resources to amass wealth hence their immeasurable patience as they await the growth and multiplication of their empires.
- Successful Investors are Passionate About Investing
Passion is crucial for entrepreneurs and investors alike since it’s the fuel that ignites your inner energy and gives you the urge to continue carrying out the duties that are critical to your success even when things are not looking up.
Notably, luck and intuitiveness doesn’t feature in the above traits since the two are negative traits that render an investor unsuccessfully if they rely on them.
Giles Turner is Head of Private Client Sales at BWC Management
Website – https://bwcmanagement.co.uk/