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Mark O. Haroldsen - Investing In Real Estate

One of Mark's long held principles in accumulating personal wealth is real estate investment. His book, "Waking Up The Financial Genius Inside You", takes you through the steps, in detail, using real estate investing as an example, to create your own blueprint for financial success.

  Mark O. Haroldsen’s BLOG

Friend Compounding

December 2, 2016 by   • Filed under blog

 

This week, I would like to put forth a few more thoughts on the subject of friends, that all important part of our lives that I focused on in last week’s blog. Good friends really are golden and that hit me hard when I had such a super enthusiastic response from so many of my friends on that post. It got me to thinking about how much of our lives revolve around our friends.

We love our old friends and it is so fulfilling to share our lives with them. And new friends can enhance it even more and lead you to new and exciting avenues and experiences in your life. Sometimes, however, it’s kind of awkward and difficult to approach new people, especially if you are a bit shy.

If you want an easy way to meet and make new friends you might want to try this simple method. Let’s call it “Easy Friend Networking” or “Friend Compounding”. All you need to do is plan a simple party for your friends. Then ask those friends if they could please reach out and bring, say, 2 of their best friends with them to the party or maybe even have then bring 4 or 5 of their friends. This is somewhat like the concept that made 32-year-old Mark Zuckerberg a multi billionaire—he introduced the world to friend networking through Facebook. Both ideas are similar to compounding your money only it’s a compounding of friends. Of course, the real compounding would be if the friend of the friend was to invite his or her friends.

If you invited just 10 friends to your party and they followed through by bringing an average of 4 of their friends then you would meet 40 new people in one evening. You could then decide which ones you want to get to know better and to truly become your friend. I must say that I think Facebook is great but this face to face stuff is even better.

I have a good friend, who just so happens to be my wife, share with me a great quote from the magazine, Women’s World, about the value of friends. It said, “If it’s been awhile since you’ve spent time with friends, send out an invitation to get together now. Not only will reconnecting with pals lift your spirits, it’ll raise your odds of living a long, healthy life an astounding 50%.” That statistic comes from research at both the University of North Carolina at Chapel Hill and Brigham Young University. The article goes on to say the reason it extends your life is that it reduces stress during tough times and gives more meaning to your life plus it raises your self-esteem. And I would add that having more and closer friends can add so much fun and excitement to your life as well!

Since 2017 is right around the corner, it’s probably a good time to start thinking about what we intend to accomplish and experience in the coming year, whether it is to grow our circle of good friends, increase our health, or create more wealth. In the next couple of weeks, I want to put forth some ideas of just how to set those resolutions and the different categories which would be wise to concentrate on. I’ll also talk about how to motivate yourself to follow through and get the job done. In the meantime, enjoy your friends and compound them by planning a get together or two. It is the perfect time of year to do that since saying it is for the holidays is the only explanation you need.

  Previously on Mark O. Haroldsen's Blog