You might have heard the term invest in yourself before. Warren Buffet, the greatest investor of all time says that the best investment you can make is in yourself.
All kinds of things can happen but no one can take away your talent from you.
This guide will go over the 5 steps of investing in yourself and we are starting right now. 5 Ways to Invest in Yourself 2022 – A Step By Step Guide
1. Get to know who you are.
The first step is to get to know who you are and what you want to accomplish. If you don’t know yourself and you try investing in yourself, it’s like driving in the dark with your headlights turned off.
You won’t know where you are going and it most likely will be a waste of time.
To get to know yourself, first ask yourself what you want. Maybe you want to make $100k / N50Million per year. If you don’t know, keep reflecting or do other things to learn about yourself like travel.
Then ask yourself how do you want to achieve what you want. Maybe you want to get a high paying banking job or maybe you want to earn the money through starting your own business or maybe you want to make the money just from investing.
At this point, it’s very important you trust your own intuition and make your decision based on what your gut says. People will tell you what they think the best way to achieve your goal is but there’s a chance it doesn’t align with who you are as a person.
Do your best to trust your gut and don’t listen to the voices around you because they might lead you down a path you never wanted to go down. For example, don’t start a dropshipping business because someone on the internet told you that it’s the fastest way to 6 figures per year when you would rather do something programming related.
2. Find out what tools you need to achieve what you want.
This is the step that everyone associates investing in yourself with. When people think of investing in themselves, they think of this step and more specifically, learning or education.
Learning is mandatory for this step since no matter what you chose to work on in step 1, education will be one of the tools needed to achieve what you want.
Books used to be the common way to learn what you needed for the task at hand but now there are many options to learn from.
Education can come in many forms from books to online videos to digital courses and to coaches.
Choose the option that you are most comfortable with and start building up the knowledge you need. However, depending on what goals you wanted to achieve, there will be more tools needed.
For example, if you wanted to invest in real estate, you would need to have a good credit score, have a certain amount of capital, have your papers ready, find a real estate agent and more. If you wanted to start a business, there might be other things you need to accomplish your goal like licenses and employees.
Figure out what you need to get things started. This step is important and you must be sure you know all the tools that are required to complete your task. If you end up missing something, completing your goal will become a lot more complicated and you might miss opportunities.
This step is pretty self explanatory. Once you know what you want and how to get it and you have the tools needed, it’s time to work towards your goals. You should ideally be learning something that helps you achieve your goals every day.
Warren Buffet may read 500 pages a day but that is a bit extreme and he is a very fast reader. For most people, I would say spending around an hour or 2 towards learning will suffice. Remember, learning isn’t only restricted to reading now since we have the internet which can accelerate how efficiently we learn.
As you are building your knowledge, start applying it and using your tools to get what you want. If you are investing in stocks, as you read up about companies and learn how to pick stocks, you should be buying stocks as well.
It’s ok if you fail since you can always pick yourself back up and try again. That statement holds true no matter what your goal is.
4. Let your knowledge and skills build up like compound interest.
Investing and compound interest go hand in hand and when you invest in yourself, the benefits will also compound like compound interest. This phenomenon is called accumulative advantage.
Success will lead to more success.
Success can lead to resources you might not have been able to access before. You might think failing might be bad but you are wrong. Even if you fail at a certain step, you will have learned a lot throughout the journey and the next time you attempt to achieve that same goal, it will be a lot easier.
In a way, failures can also be successes since you learn a lot more from failing than succeeding. Keep trying to reach your goal while learning from mistakes and successes. Eventually, you will be able to reach your goal with all the knowledge gained from your journey.
5. Invest in your health.
This step is like a bonus step. All of the steps above are pretty useless if your health is compromised. What’s the point of investing in yourself to better your business if your health gets compromised and you don’t get to enjoy life? You need to eat correctly everyday and exercise often.
If you take care of your health, you will be more energetic and happier which can help you achieve your goals faster.
Investing in your health will also make sure you are able to enjoy the benefits gained from achieving your goals. When you invest in yourself, a world of opportunities will open up. You will be able to become the best version of yourself.
By the way, if you are interested in online courses, check out our courses section.
How do you invest in yourself? Leave a comment below