Find A Need And Fill It . . . As Efficiently As You Can

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Topics: Investor Success

     A long time ago somebody figured out that real job security lies in meeting the needs of both your employer and his customers. That can be a tall order. The first thing you should do in a new job is to burn the midnight oil to learn all you can about it, and to improve on it so that your impact on profits can be seen by those above you. But there's much more to the process. If you want to be successful, you've got to learn a lot more than your particular job. You've got to prepare yourself to take over the position you boss holds so that he can be promoted upward, taking you along with him. Aim to be the most qualified person to replace him. Prepare someone else to take your place. The last thing you want to be is the only person who can do your job. Your company will be reluctant to move you up if there's no qualified person that they can put into your old position.

     The reasons why people succeed and fail are varied and complex, but studies have revealed two significant factors that have nothing to do with job skills. Marrying the right person, and staying married aren't on anyone's resume, but ask around among divorcees. You'll hear the same story over and over. Divorce exacts enormous economic and emotional costs. These include not only property settlements which wipe out savings, but also the child-care burdens that deprive a single parent of the hope of being able to apply him/herself to succeeding in a job. Taking time off because of parenting obligations is a real career-killer when it comes time to be considered for promotion. Getting ahead can be many times harder.

     There's also the positive aspect of having a supportive helpmate in everything you attempt over decades. One who shares mutual financial and lifestyle goals and the sacrifices required to attain them. I estimate that it's three times harder for a single person to succeed than for a married couple, working together, to build an estate. Supportive couples are five times more successful than those who oppose each other's goals, especially when they divide up the chores.

     In my case, I'm the 'front office'. I'm 'sales'. I meet the customers, find, buy, manage, maintain, and sell the properties, run down financing, hire and fire contractors. My wife is the 'back office'. She keeps the books, handles the mail, pays the bills and reconciles the accounts, prepares tax returns, maintains a working environment in which we can each do our best. She 'reads' the people with whom I might do business as well as the venture itself, and warns me off when it doesn't 'smell' right. She also forgives me when I make mistakes that cost the family money, of which there have been many. We've become a real working team.

     The second key factor in attaining success or failure hinges on the length of time a person holds a job. It's become fashionable today to job-hop up the ladder of success. That's expensive for both employee and employer alike. While the employee may move up swiftly changing jobs, sooner or later, the next prospective employer isn't going to hire him simply because of his instability. Nobody likes to spend the money it takes to attract and train employees, only to have them leave before they've started contributing profits to pay for their hire.

     In today's world of mergers and acquisitions, it's often the employer who does the job hopping. Every day, people come to work only to find that the job itself has flown the coop to another company. Loss of a career job can be a traumatic experience; devastating not only to a family's finances, but also to self-esteem and confidence. Unemployment is stressful. It undermines the sense of security of both parents and children. Those holding jobs with American companies in fields in which computers or foreigners can compete more successfully are going to have a very bumpy career ride. They may find themselves tossed out onto the street as middle-aged unemployables. It's happening all over America today as companies down-size in order to compete in world wide markets. To remain competitive in our rapidly changing job markets, we're all going to have to participate in some form of educational process for the rest of our working lives.

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