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What’s Your Expertise?

Veteran international investor John Corey offers his thoughts on how to make progress with your investing activities in 2018

Let’s start with a quick story. I speak at various meetings around the UK. Rather consistently, I find people are afraid of being labelled an expert. 'No, no, I am not an expert’. Next, I ask if they have specific expertise or competence. Are they good ‘at something’ is what I want to know. Or when should I turn to them if I have a question?

To a person, they all say yes. They have expertise. They are good at something specific.

Think about it, for anyone to get paid more than the minimum wage, we expect them to be good at something. If we buy a product, we want to know it is well made. That someone who has expertise has designed and manufactured the product so I can benefit from their experience and insight. We might say it is well designed.

Getting started? Upping your game?
I often get asked about how to get started in property investing. My response is to push back and ask them about what they have done in the past? What would they say they are good at?

When speaking to successful investors about how to reach the next level, I start by asking what has worked for them in the past. We all have to start from where we are. We need to embrace what we are already good at rather than immediately dive into things that we are clueless about.

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