Rating: Good
Brick by Brick blurb excerpt: Success is a simple thing that most people believe to be something mysterious and complicated - the reality, according to Paul Bassi, is something completely different. In the vast majority of cases, the people at the top have got there by following disciplines that are available to everyone. The truth about success is that it's closer than you might think but harder work than you expect.
My opinion: I read the entire book and truly enjoyed it. I loved how Paul set the scene and framed each lesson with a relatable personal experience. The only reason I didn't rate this book excellent is that it felt, at times, superficial and lacking in actionable takeaways. When I consider what I personally look for in The Best Business Books, I always value depth, clarity, and a call to action. If you're in the property development space this would undoubtedly be one of the Best Business Books for you.
Lessons from Brick by Brick:
You need to put in the consistent hard work that will allow you to acquire market intelligence, build a network, and become an expert. You need to have fallback plans, build a brilliant team of employees and advisers, and to share the cake with them. In property, you need to get the entry price right, take on debt wisely, plan proactively, and always add value as an investor. In any field of business, it is really about what you know, who you know, and how you are known. Intelligence, contacts, and reputation are the chips you play with, and you have to keep growing your profile over time.
Understanding Success.
There's nothing difficult, or mysterious, about success.
Success is determined by desires and attitude, not ability.
Success is relative: it's about you, not the other guy or girl.
It's all about the big picture. Don't be afraid to think BIG and learn to dream.
There are no limits other than the ones you impose on yourself.
Money is a by-product of success. Strive for success and never chase money.
You need to work out your why: your motivation to succeed.
Whilst some people have god-given or inherited advantages, the most important attributes when it comes to success are democratic. The ability to be the hardest worker, the most diligent networker, the most proactive opportunity seeker, and the most persuasive negotiator. Those are skills and behaviours anyone can develop.
Money is important but it is rarely the big picture goal. Money is a measure of success and an enabler that's all. When people say money is their goal, it rarely is. It's what the money can buy them.
Understanding Successful People: There are no accidents when it comes to success. Those who achieve it have a clear plan and rigorous approach to achieving it. Success happens through a repeated, long-term commitment to the big picture, not through a whim and some lucky breaks. It arises through the establishment of good habits, ones which repeat and reflect across your whole life.
They are positive and see all obstacles as opportunities.
They are self-driven and instinctive, with a relentless work ethic.
They get principles, not detail: and focus on solutions, not problems.
They think differently, and their view is sometimes distorted.
They're ultimately salespeople.
They are likely to have excelled at sports.
They're likely to have a high sex drive.
They will have been let down by a parent or have a point to prove to a critic.
They relentlessly and objectively pursue objectives.
They are not afraid of change.
They are not easily impressed and don't suffer time wasters.
Most have money in their heads, not their hearts.
They learn from high achievers and establish a network of like-minded friends and associates.
They regularly step outside their comfort zones.
How they do anything is how they do everything.
They have thick skin.
They take a long-term view.
Planning For Success:
Set a big picture - now identify what are the different things you need to achieve: developing experience, achieving qualifications, nurturing a network?
Set goals that pass the acid tests - Is it detailed? Is it challenging? Is it realistic? Is it desirable?
Track and measure your progress.
Take your time.
Running a Successful Business:
Planning: how to get something started, focus your business from the outset, and avoid falling at the first handles.
Know your customer.
Put yourself in the correct arena.
Have a fallback position, with a plan B or C in mind.
Continuously educate yourself and your business about the competition, changing markets, and products.
Learn to sell yourself - and your plan.
People: how to build a network of contacts and a brilliant team of people around you.
Cultivate relationships and build a network.
Surround yourself with a great team with whom you share the prize.
Pick your professional advisers with care.
Find the right partners.
Never deceive anybody and most of all never deceive yourself.
Never burn bridges or criticize companies, people, or the competition.
Delivery: how to get things done and keep the business going (and growing) for the long term.
Build, nurture, and protect your most valuable asset: your market reputation.
Outsmart the competition - the obvious way is often where the crowd is. It's more valuable to find under-served customers or under-invested segments.
When you have a proven strategy, fire a torpedo not a bullet.
Where possible use cost-free projects to identify new markets and opportunities.
Avoid winning battles at the expense of winning wars.
Work on your business, not in it.
Specialize and stick to what you know and are good at.
Learning how to make, save, and spend money:
Create multiple income streams.
Make sure you have good accountancy and tax advice.
Think about saving as a process of building up capital to reinvest and create new income streams.
Invest in assets rather than racking up liabilities.
Understand the difference between an income-generating asset and a depreciating one.
Share the cake.
Successful Property Investing:
Market Intelligence and Relationships. It's not location, location, location - it's all about market intelligence and who you know. It's intelligence that dictates what, where, and how you buy; and when it's time to sell up. Much of that intelligence is going to come through relationships.
Buying well and making a profit. You can't change the entry price so always buy when the market is right, not when you are ready.
If you have a good reputation you will get access and priority to the best opportunities.
Learn to negotiate hard but fairly and always be able to justify your price.
Don't buy with the intent of a quick flip or passive investment. You must add value.
Get the debt ratio right and always have positive cash flow.
Manage risk by diversification.
Everything in the world of property is an indicator - keep your eyes open.
Divest decisively, re-enter cautiously.
The blue ocean strategy: If you are surrounded by others with the same ideas as you, trying to pursue the same opportunities through the same channels, there is limited space and many will miss out. By contrast, the nirvana is to be in a completely unoccupied territory: where it's your product or no product, your price, or none at all.
Brick By Brick Best Quotes:
“If you see a bandwagon coming, it's too late."
"If I am going to invest in any new business, the first thing I will do is go out and look at what the competition is doing. You do not need to reinvent the wheel; in fact, you should be looking to learn, borrow, and adopt as much as possible from those who have gone ahead of you."
"It's not about being the best. It's about doing your best"
"Success is determined by desire and attitude, not ability"
What Next:
If you are interested in this book, you may want to check out our list of reviewed Business Books.
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