How To Develop A Mindset That Creates Focus And Facilitates Success
Richard Thalheimer who is also known as America’s Gadget Guy is an entrepreneur, author, investor, and the founder and former CEO of The Sharper Image. With his enviable track record of picking retail product winners, and his preternatural ability to decide what people wanted often before they knew it themselves, his company grew close to a billion dollars in revenue, with 200 retail stores, and a famous catalog before he retired and turned full-time to stock market investing.
Richard’s private investment vehicle, The Sharper Fund, has built an outstanding five-year record. It has achieved an average annual portfolio return of 110% for the period January 1, 2016, to December 31, 2020, all while growing to almost $400 million in assets under management. His investment firm also funded up another 51% from January 1, 2021, to November 30, 2021. He breaks down all the returns he has achieved while using his winning formula in his new book The Sharper Investor- The Winning Formula That Boosts Your Returns.
Listen in as the Land Geeks go around the table and ask Richard questions about:
- His success story
- What mindset and advice are needed to facilitate success
- What advice to give someone who is just starting a business
- What was his mindset when he just got started in his business and how did he manage to maintain it throughout his success
- How did he stay focused instead of chasing or developing the shiny object syndrome
- How did he overcome inner critics and silence his self-doubts
“ Hurry up and try something and see if it works, and if it doesn’t work try something else” ~ Richard Thalheimer
Richard also shares with us advice and what to look out for when you want to scale and add another employee to your business.
TIP OF THE WEEK
Mark: My tip of the week is learn more about the Sharper Investor Fund. Just go to thesharperinvestor.com and check out Richard’s book which looks so cool.
Richard: I’m going to squeeze two tips into one. If you go to thesharperinvestor.com, we’ll send you complimentary my 25 pro-rating tips for investing in markets. You get that free just by going to the website and registering. Here’s my tip, this is hard to do. It takes a tremendous amount of emotional fortitude to manage to have confidence in yourself. But if you know your market, don’t be afraid during the downtimes to buy-in. You’ll be discouraged, it’s a down market, you’ll feel totally sick to your stomach, the values have dropped but that is the time to buy because of this one mantra which we all know but we have trouble following it and that is to buy low and sell high. Overcome your emotions and don’t be afraid. If you want to prevent disaster, nibble in. Don’t buy all at once, just average in over a period of weeks and months.
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