Outside of leadership, one of the activities I enjoy is investing. I’ve begun looking for investment opportunities in the stock market, cryptocurrency markets, private ventures, and more.
My investment portfolio is diversified. My money isn’t held in one specific investment or business. The money I’ve invested is spread around to different types of businesses, money markets, and portfolios.
From what I’ve studied, wise investors do this. They look for ways to diversify their investments so all of their money isn’t in one basket. Because if that one basket comes crashing down, you could lose all of your investment capital. And that’s bad.
By diversifying where you invest, you reduce risk. One type of investment market could go down while the other goes up. These ups and downs will typically balance one another out and you’ll wind up ahead.
Leaders need to invest as well. They also need to be wise investors and diversify their investments.
4 Areas Every Leader Must Invest In To Be Diversified
1. Diversified leaders invest in themselves:
One of the best places leaders invest in is in themselves. These leaders know that by continually investing in themselves, they’ll continue to grow their influence and ability to lead.
Some of the investments a leader may make in themselves is:
Formal education: You might look at going back to college or university to get your MBA or Doctorate. Formal education is a great way to increase your book smarts and help kickstart your learning.
Conferences/Workshops: I’m a huge proponent of conferences and workshops. I’ve found myself learning quite a bit about leadership from speakers like Andy Stanley, Bob Goff, and Rorke Denver during conferences like Catalyst or LeaderCast.
Books/Courses: The amount of information on leadership contained in books and courses is astounding. You can pick up a book a leader has poured his heart and soul into and get the wisdom of ages. Courses are the same way. Leaders from around the world are creating awesome courses where you can sit in front of your computer and learn.
Investing in yourself is easy. You have to make the choice though.
2. Diversified leaders invest in those they lead:
The next area diversified leaders invest in is in those they lead. They know the team they have is valuable. They’re putting in the work and if they’re not well-trained, the work they do may be mediocre.
So, diversified leaders look to invest in their teams. They take them to trade shows, training seminars, and bring in consultants to help them grow in their skill sets.
Find ways to help your team grow. Your team needs your investment.
3. Diversified leaders invest in other leaders:
Leadership is often lonely because the leader chooses a lonely path. They see leadership as something only they can do.
Yet true leaders know there’s more to leadership than themselves. There’s a new generation of leaders rising up and those leaders need to be invested in.
Diversified leaders see the opportunity here. They can invest in up and coming leaders and make a huge impact on the future. They can invest in the next generation leader.
Look for newer leaders to invest in. Even if they’re outside of your organization. You can and will make a difference by investing in other leaders.
4. Diversified leaders invest in relationships/family:
The last area diversified leaders invest in is their relationships and families. This may actually be the most important area leaders invest in because of the benefits leaders see from these relationships.
Your friends and family are important to your success. They’re your cheerleaders, your accountability partners, and the ones who truly desire to see you succeed.
Invest in your friends and family. Don’t forget them as you’re chasing success in the business world. You’ll regret missing this investment the most.