Coachability & Leadership Are Key Aspects of Investor Education

If You Don’t Like the Aspects of School, You’ll Get Schooled in the Market

One of the biggest challenges for every business is finding coachable team members and finding the right coach. Building and managing a team is the natural evolution of a good leader.

That doesn’t happen overnight. Pro sports teams churn talent on a regular basis. A good NFL team drafts new players fresh out of school, signs big-name free agents, and is constantly scouting for coachable talent everyone missed. The only way to turn that group of players into a team is with the right coach, but only if the players are coachable.

It’s not most people’s natural modus operandi. Sole proprietors are used to being a one- man team. But growing the business has forced many to change. Now it’s actually the most fun, exciting part of expanding the businesses that you own—building the teams that run them—whether they are giving financial advice or helping people enjoy their free time by fishing.

Most people would agree that LeBron James is one of the best basketball players to ever play the game. Many with that level of talent would be filled with arrogance and eventually become uncoachable. LeBron is the opposite. Years ago, he was humble enough to know that his skills on the basketball court didn’t necessarily translate to investing. He decided he wanted a mentor and was determined to hire the best. As a result, it’s widely known that Warren Buffett is his financial mentor. You’d be hard pressed to find a better mentor.

You must become a leader. Being a follower can cost you big time. Following a follower will cost you even more. Leaders break the rules and forge their own path. It’s not only the path less taken; it may be a path to better results. Leaders are honest with themselves as well as others. When real leaders make mistakes they own them, they confess them, others learn from them. A good leader knows when to change. A leader has graduated from the school of hard knocks and offers his bruises as an educational event from his own mistakes.

Major contributions to this press release are directly from David’s newest book entitled, “Return on Principle: 7 Core Values to Help Protect Your Money in Good Times and Bad.” David has also authored the critically acclaimed book, “Stop The Financial Insanity, How to Keep Wall Street's Cancer from Spreading to Your Portfolio." David is not only a best selling author, but also a popular platform speaker and TV talk show host of the Income Generation. David’s credentials include CFP, CFA, MSFS, CLU & ChFC.