By Michael Masterson
The Best Investment I Ever Made
I was once asked, "What's the best investment you ever made?"
My answer? Undeniably, it was the time and money I put into about a dozen human beings.
I'm not trying to flatter anyone. But if I were to calculate the actual money in (including my valuable time) and money out, over the long run, there is no question. I've made my biggest money by investing in people.
The great thing about investing in great people is that the return compounds. You see, great people - well-taught and motivated - hire, train, and motivate other good people. And that enlarges a business in a geometric fashion.
Great people will not only make you rich, they will simplify your life. In the early years of your relationship, you'll need to spend a significant amount of time on them. But then, they will become independent and operate on your behalf without needing much (if anything) from you. And even when they strike out on their own, they will always be happy to help you out in the future.
I am sure that more than 75% of the wealth I have acquired was created by people I believed in and mentored. Put differently: If I had spent my career trying only to make myself rich instead of helping to develop the careers of others, I'd be a much poorer person today.