Legendary investor Warren Buffett defines investing as “… the process of laying out money now to receive more money in the future.”
Investing is: The act of committing money or capital
to an endeavor with the expectation of obtaining an additional income or profit.
What a fantastic concept (no surprise, success leaves clues).
The goal of this type of investing is to put your money to work in one or more types of investment vehicles in the hopes of growing your money over time.
One of the best returns on your investment is when you invest in yourself. Whether it’s investing in learning, developing yourself personally, your health, or your appearance, it’s all about you.
Today, our conversation will focus on investing to build a different kind of capital, one that I believe to be the most significant currency anyone can have in their life and business and I call it “relationship capital”.
This has been a life-long mission of mine, believing that who you know is more important than what you know.
To develop this kind of capital, I am constantly asking myself if I am making the right investments to get the right return; am I truly investing the right amount of time, energy, focus, and opportunity to reap the benefits I desire.
It is our responsibility to take the time to develop ourselves, our gifts, and our talents, so we can best serve others. Investing in yourself is an example of self-love and you must love yourself before you can expect others to love you. It truly makes a difference in your life, your overall well-being, your ability to thrive and perform at your best, and, perhaps most importantly, develop relationships. Your future depends on it.
Like many things in life, it comes down to choices.
I recently made a choice that has already had a great ROR…..
What is ROR? So glad you asked!
In most investments, we gauge success by a term called ROI (Return on Investment).
In my world, and in the world of many great leaders and influencers, it’s all about ROR or Return on Relationship.
That’s what my recent trip to the Big Apple was all about – investing in developing relationships that will drive my business.
When I noticed that I had a gap in my travel schedule, I quickly jumped at the opportunity to get face to face with some of the incredible relationships I have developed professionally through social media. Yes, just through social media.
After booking the flights and hotel in NY, I booked two solid days of visits (not appointments or meetings which is one of my rules) and, boy, what a trip it was.
It was a combination of building new and revisiting old relationships – friends, family, business associates, and who I can connect to who.
I am so blessed to be around such great people; people who inspire me, help me grow as a person and will be with me forever.
Talk about a great investment.
A huge shout out to Coach Dana Cavalea, Scott MacGregor, Mike Luzio, Brandon Steiner, Roy Abrams, Bruce and Ellen Salkin and many others. You all made the investment of time, energy, and resources so worth it!
Now, I have no idea whether these investments in “relationship capital” will bear fruit today, tomorrow, or ever. Although, one thing I can guarantee, I am richer for knowing and being able to have these folks be On the Ball!
In any kind of investing there are NO guarantees. However, I can guarantee you this – investment in yourself is as close to a guarantee as you will get.
And that’s what Nudelberg says…