How To Develop An Eye For Garbage That You Can Turn Into Gold

If you have an eye for opportunity, you probably already know what I mean when I say that you can turn garbage into gold.

People with an entrepreneurial streak have been doing this for as long as business has existed. And it remains a cornerstone idea of making lots money in places where most people do not see potential. In fact, they see nothing that even resembles potential.

So turning garbage into gold means cashing in on opportunities ignored or overlooked by others. Since you are entrepreneurial in nature (or you would not be reading this article), here is the essential description of what you do.

You:

Look for garbage in the form of something that is undervalued, under-utilized, or otherwise ignored.
Incur risk as you either add value to an undervalued asset or acquire it in the hope that its value will rise.
Sell what once was garbage and is now gold.

Thats pretty straightforward whether you rehab distressed properties or look for bargains in the stock market. It applies if you buy what others discard and sell it on eBay or create a niche for yourself in an otherwise underserved or undiscovered market.

This is how opportunity-minded people think and act. And this is precisely why markets exist. Markets of every description exist to exploit inequalities (real or imagined) between the supply and demand of something or some financial instrument. Regardless of your specialty, you are in the business of cashing in on some kind of inequality.

So how do you prime your mind for this mental gymnastic? This is easy. If most people would turn their nose up at something, you take a second look.

This is especially true if the something in question looks messy, crumby, smelly, or otherwise like a wreck. This may be true literally (in the case of a building) or metaphorically (in the case of a stock or a business).

When others turn away from such things, you can be sure there is some kind of opportunity hiding somewhere even if you are not sure what it is or how to exploit it.

And that is the key to seeing opportunity. You see what other people do not. And you see it in spite of what most would call a mess.

So note the reaction of people to something that looks like a mess. It may be a mess and a big one at that. However, that does not mean that it does not have intrinsic value now or in the future.

And what tips you off to this potential gold within the garbage? People who say What a mess! Looks like nothing but garbage to me.

By:
Anthony Papajohn

If you are not making all the money you want, Tony Papajohn invites you to empower your mind for success and money with his free, 9-part video series at www.MoneyMindWorks.com .