MJ DeMarco
I followed the science; all I found was money.
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I'm probably going to take some heat for this post, but I believe I can predict the probability of success for your plan ... and so can you.
When you buy a car, you lift up the hood and look at the engine. When you buy a house, you tour the interior, open doors and look in closets. Things we buy can be inspected and put through tests of due diligence.
But what about human beings? Don't you wish you could do that with potential employees, business partners, or investors? A resume is hardly an indication since that document is created by each individual -- about as useless as an obesity study financed by McDonalds -- the source is bias.
So, how do you "look under the hood" of an individual?
You can. Its found in one simple number ... their credit score.
I was reading Jason's postings about leaving his job and starting his real estate company. In one of his posts, he wrote
810. That number carries a large menagerie of information with it ... a lot of information not readily visible. A credit score is a kaleidescope into someone's life - not just financially, but personally ... its the equivalent of opening up the hood of an car and inspecting the engine.
How?
A good credit score tells me the following:
If you are a person with a bad credit score, this tells me you have the potential...
If I want to predict your success in any business venture, I'd look at your credit score because that is one MAJOR number that exposes the engine of your financial life. I will look at your score as 1 major factor to predict your probability of success.
Is it the only predictor of success? Of course not. However, given all things equal -- I'd invest my money on the business guy with an 810 credit score vs the guy with a 520 yet has a 140 IQ.
If your credit score sucks, work to improve it as improvement of this one number will improve your odds of success in business - not because of the number itself, but because of the predisposed behavior and discipline necessary to accomplish it.
Discipline is not easy. If it was, we'd all have 810's.
When you buy a car, you lift up the hood and look at the engine. When you buy a house, you tour the interior, open doors and look in closets. Things we buy can be inspected and put through tests of due diligence.
But what about human beings? Don't you wish you could do that with potential employees, business partners, or investors? A resume is hardly an indication since that document is created by each individual -- about as useless as an obesity study financed by McDonalds -- the source is bias.
So, how do you "look under the hood" of an individual?
You can. Its found in one simple number ... their credit score.
I was reading Jason's postings about leaving his job and starting his real estate company. In one of his posts, he wrote
810. That number carries a large menagerie of information with it ... a lot of information not readily visible. A credit score is a kaleidescope into someone's life - not just financially, but personally ... its the equivalent of opening up the hood of an car and inspecting the engine.
How?
A good credit score tells me the following:
1) Financial intelligence
2) Good decision making
3) Integrity
4) Responsibility
5) Acknowledgment of Deadlines
6) Ability to Delay Gratification
7) Ability to plan, think long term vs short term
I believe many of the above are significant ingredients into the recipe of success.2) Good decision making
3) Integrity
4) Responsibility
5) Acknowledgment of Deadlines
6) Ability to Delay Gratification
7) Ability to plan, think long term vs short term
If you are a person with a bad credit score, this tells me you have the potential...
1) To be irresponsible
2) To occasionally make poor decisions
3) To ignore deadlines
4) To lack integrity
5) To buy on impulse
6) To lack financial intelligence.
7) To not plan or think long term
By the time you are in your mid-20's, your credit score is well established. 2) To occasionally make poor decisions
3) To ignore deadlines
4) To lack integrity
5) To buy on impulse
6) To lack financial intelligence.
7) To not plan or think long term
If I want to predict your success in any business venture, I'd look at your credit score because that is one MAJOR number that exposes the engine of your financial life. I will look at your score as 1 major factor to predict your probability of success.
Is it the only predictor of success? Of course not. However, given all things equal -- I'd invest my money on the business guy with an 810 credit score vs the guy with a 520 yet has a 140 IQ.
If your credit score sucks, work to improve it as improvement of this one number will improve your odds of success in business - not because of the number itself, but because of the predisposed behavior and discipline necessary to accomplish it.
Discipline is not easy. If it was, we'd all have 810's.
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