I Almost Lost $8,000,000
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Summary
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I was going to invest $8 million in a real estate deal with someone, but I decided not to because I questioned if they shared my values in business.
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Judging based on how someone handles their personal life can offer clues about their business ethics.
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Trusting my instinct and staying true to my values saved me from losing $8 million when the person was later indicted for fraud.
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Many of my friends who invested with this person lost all their money, often a lot more than what I almost invested.
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Making decisions that align with my values has rewarded me over time, even if it takes longer to see the results.
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Some people ignore or undervalue what they can't see or measure immediately, but staying patient pays off.
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How To Take Action
I would suggest implementing a practice of aligning decisions with your core values. Whether in personal growth or business, always start by asking yourself if a potential partner or opportunity aligns with what you stand for. Look at how these partners live their personal lives, as these details can be key indicators of their business ethics.
A good way of doing this is by trusting your gut feelings and instincts. If something feels off, it’s worth reconsidering, even if it's tempting to overlook these feelings for immediate gains. This could save you from making costly mistakes, as it did for me when it came to the real estate deal.
You might want to visit your values list weekly or monthly. For entrepreneurs, create a simple checklist to evaluate decisions based on these values. This doesn’t cost anything but has high long-term value.
Also, don’t rush into agreements or investments. Patience is a secret weapon. Though the payoffs might not be instant or visible right away, sticking to your values tends to yield better results over time. This approach requires consistency rather than immediate gratification.
Finally, connect with like-minded people. Share your stories and experiences, as learning from real-life examples can reinforce this way of decision-making. Engaging with a community that values what you value can provide support and insight, further guiding you on the right path.
