One of the great benefits of having a rich mindset is- being aware that every opportunity that presents itself is a chance -to become richer or poorer.
When you have an investing mindset, you can analyze situation-that is think well. In addition, have the emotion to take action.
I had the opportunity to see the above qualities in action recently.
Let me explain.
I live about 30 miles from London in Luton, a Bedfordshire town of approximately under 250k people.
The town has a university, the University of Bedfordshire that has the highest rate of enrolment in England.
The Luton airport is home to Easy jet one of the largest budget airlines in Europe. In addition, the airport is rapidly expanding. The town also has a car manufacturing plant owned by General Motors. The General Motors plant reduced production and laid off many workers in last decade. Luton is a 25-minute commute by train to London. In addition it cost less to live in Luton vis-à-vis London.
You can easily buy a 3-bedroom house under £200,000 ($300,000)
However, Luton has a major problem…
It has little room for further expansion as it is hill locked…
The other problem stems from economic misfortune…Luton was heavily dependent on the car manufacturing plant of General Motors in the past, so there was a decline in the town centre for some time.
However, Luton’s economic fortune is turning the corner with an influx of service companies providing jobs, coupled with the rapid expansion in the local airport…
This brings me to the point of how a rich mindset comes into play
The scenario
Luton has only one major shopping mall called the Arndale Centre and the owners of the mall have a virtual monopoly on parking…
I have watched with consternation-at how the shopping mall has increased the price for the parking lot in the last 1 year.
The local authority has demolished the alternative parking for shoppers leaving us at the mercy of the management company
To the average resident and shopper… we can only complain and still pay the parking fees anyway.
Not so, for some rich minded investor……….
A few days ago, I noticed a new parking lot built from wasteland.
The owners were charging a 50 percent discount to the price of the monopoly’s parking fees.
In addition they are offering monthly, quarterly and annual tickets for half the price of the main mall.
With the parking lot rates charged at 50 percent discount to the main mall’s parking rates.
I was not surprised to see the parking lot full of vehicles waiting to park.
Here is the moral of this story…
You can create opportunity to make money when the bigger more established companies have neglected their customers.
In this case study, the larger company have a monopoly over the parking-the competition is breaking into this market with a low price offer.
It takes a rich mindset to analyze the situation and take advantage of this opportunity.
You need to change your mind set to see your world as a world of abundance….A world full of opportunity, think only of creating value and you will get riches
The good news is you too can start to do the same…..
Here are some few tips to get you started.
- Decide today to start thinking abundance
- Drive to work or home using a different route tomorrow
- Observe to see if there are any changes in your neighbourhood or county
- Ask yourself the following questions are there any opportunity to create value?
- Study your present workplace or industry and ask yourself is there any way I can increase the value of my service
- Make a list of ideas you have identified as a result of your brainstorming sessions
- Narrow your list to 3 possible ideas or project
- Take action, discuss with your mastermind group or invest in the opportunity
- If you cannot come up with any ideas , keep trying
Think rich and grow rich
Related Links
Luton Business Property