Big/little fish in little/big pond
So, I'm reading 'David and Goliath' by Malcolm Gladwell . Not a real estate book, but his stories and books are always about giving us a different perspective to look at certain things. Concepts, Ideas, etc
I didn't know, but David beat Goliath, because he was a slinger and Goliath was working with spear and sword. Which is like someone with a sword not having much of a chance against someone with a gun.
Many successful people prefer to be a big fish in a little pond, rather than a small fish in a big pond.
I realized, that I've never had any interest in being a small fish in a big pond - i.e. I don't like competing. Once there are a number of other people involved, I walk away. No longer fun for me. So, I've always found my own niches, where I didn't have much competition: Major rehab of victorian homes, wholesaling of vacant lots to builders, buying rental property in a neighborhood that most investors don't want to deal with. And apart from real estate, most things I've been involved in, including present and past other businesses, I'm always a big fish in a small pond and I have no or very little competition.
And there are other people, who thrive on competition. Who'd rather be a small fish in the big pond, so that they can build themselves up to becoming a bigger fish. They're really good at working the tried and true concepts and walking the paths that many have forged before them.
Where do you see yourself?
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The only thing I love more than competing is making money (a bit exaggerated, but you get the point). So, while I love to compete, when it comes to my business, I'm happy to be any sized fish in any sized pond as long as I'm making the most money possible.