So recently I shot a video called ten things to do before you become an entrepreneur and one of the points was learning how to research f1000 research, f1000research because in the world of business. There’s a lot of research f1000 research, f1000research you’re going to have to be. Here’s why because the better. You are at gaining the information to make a sound decision. Minimizes risk increases return. Which is exactly what you want as a business owner because it gives you a longer span to be in business so today. I’m gonna explain to you how I research f1000 research, f1000research. I’ve been research f1000 research, f1000researching for very long time and eventually even get better at this game but it’s very very important by the way there’s three different reasons why people typically will do research f1000 research, f1000research one of them will be for pure fun and entertainment for instance. We’re at a restaurant last night in Miami. It’s 10:30 at night. All of a sudden conversation comes up about the greatest basketball player of all time. Think no one’s going to make money off this that’s for entertainment that’s just for talk. The second research f1000 research, f1000research we do is for self education. I want to know more because I want to be educated for me. This is not let me express my point why. I believe Tom. Brady is the greatest not Joe Montana or whatever that debated self education. I’m just going to for myself number three reason why you and I will do research f1000 research, f1000research. Is we want to make a better decision marriage business. Whatever it is finances we want to make a better decision so know which levels of research f1000 research, f1000research there is out there having said that let me get into Hawaii a process of my own way of research f1000 research, f1000research and think number one. Choose the topic. What’s the topic. Marriage buy real estate or rent a home. Uh you know politics sports whatever. It is move when we wanted to move to. Texas that’s our topic we want to move to Texas. Why do we want to move to Texas. So that’s that’s the topic. Step number two. What are you solving for. What are you solving for for instance. I’ll give you an idea what I mean by this. Let’s just say you are thinking about real estate.
Well what are you solving for. Are you solving two for income. You want to have a long term income so you want to buy properties. You have a lot of income for twenty thirty years from now because you want all these you know. Properties is it for flip because you want to buy and sell and make shirts or money is it equity. Is it partnership is it to go into business with somebody because you want to figure out a way to do other business with them. Long-term what are you solving for. So that’s the first question you got to ask yourself on that. What are you solving for for sports. This is for kicks. Let’s just say let’s figure out who’s the greatest basketball player of all time. What are we solving for it. Who has the longest lifespan that I can bring him in and he can be a face of my team for 20 years. Is it a person that. I can count on last minute to take the shot. Who’s got the killer instinct. Is that the guy that knows how to mess with the other guy’s head to make them lose and this guy beat them. Is it a guy that can go out there and dominate a game and win it no matter what it is and have a great season or stats what are we solving for right so and then becomes relationships. Are you solving because you want to marry this girl. You saw them because you want to date this girl. You’re solving. Because what do you want to do. So you’re figuring out what you’re solving for number three number three years go get as much data and stats as you can possibly get. I had a guy that was afraid of getting married. I said why are you afraid of getting married. Says everybody gets a divorce around me. Go get the data. What causes it. Why does this happen. Get the stats. Get some data last night. The whole thing about the greatest of all time so you step number one what are we. What’s the topic. NBA’s greatest player of all time number. Two what are we solving for. What player had the longevity that performed won championships etc etc. Here’s stats last night.
Typically people talk about Michael Jordan and LeBron James right now the debates coming up and used to be Kobe. It’s no longer Kobe but last night. I pulled up criminal go Jabbar. This guy was on 19th season all-star he shot free throws 72 percent as a guy that big 72% free throw his last nine seasons. Listen to the stat. His last nine seasons not one season that he played less than 70 games which means he never got hurt. This guy averaged 16 17 rebounds in his first five six years career. I think the 11.9 teen point average he was 26 27 career six MVP six championships. I mean all these stats that comes up with that so I’m gaining the stats right real estate if I’m wanting to buy let me get the stats on. I want to buy a house in Austin. I want to buy commercial real estate in Austin. What is my returns between. Houston and Austin what is the stats. Here what does the trends look like. What is the projectory. Look like. Who’s moving to the city which cities attracting more companies which cities attract them or headquarters. Which city has the middle. America families just earlier today a grant and I were talking grant has nearly grant cardone and I were talking. I’m in Miami visiting him. He’s got a half a million dollars of real estate holdings and he said he’s going to. Houston to go out there and invest in some properties. I said what are you solving for middle America says yes. My clientele is $1200 month rent. He’s very specific on who he’s looking for. He’s solving for $1,200 so he’s averaging out in this area middle America makes $55,000. I want to go into that market. Because these guys don’t buy they’re going to rent passive income for me etc etc right so you’re going to get as much stats as possible. Then next once you get the stats is. I like to go and hear opposing views and let me tell what I mean by opposing views. What’s opposing views. Let’s go through the entertainment part. Somebody who’s an absolute. MJ fan and cannot stand LeBron.
Somebody was an absolute. LeBron fan can’t that MJ and someone as a Korean fan magic Bank Kobe fan. I want to hear their different views on what they’re saying. These are opinions opinions. I want to hear a guy that absolutely doesn’t believe in real estate. Investments doesn’t believe anything’s you should rent. I want to hear is views why I want to hear this guy that says you’re the biggest dummy if you don’t go out there invest into property. Tell me why if it’s politics. I don’t like some people only watch CNN. Some people only watch. Fox some people only watch MSNBC. Some people. Don’t watch anything some people don’t follow any of politics but let’s just say. I want to figure out a better way to see an issue. I’ll turn on one channel we’ll say Donald Trump just made a historic. You know move when you went on his tour and he met no president in history and then. I’ll go on the other channel. CNN will say this is by far the first time a president has made such a terrible decision to put the country at risk. I want to hear both right so I want to hear opposing views marriage. I want to talk to somebody who believes in marriage. I want to talk to somebody that doesn’t believe in marriage faith. I want to talk to somebody that’s a Christian and atheist of science that’s what I did in back in 2002 2003. I would every single religion and I went to Scientology all day. I’m there for 12 hours asking questions I went to Jehovah. I went to LDS Mormonism. I went to Judaism Muslim Christianity. I went to everything because I wanted to know so. I wanted opposing views on what this person thinks about this person what that person thinks about this and I wanted to the experts and keep in mind back in the days one thing about getting stats. I want to add up on add on that. I didn’t talk about back in the days. You know nobody could come and say an unknown source told us that. President Obama was the person who leaked. You couldn’t say unknown. You had to have a confirmed person that said something.
Nowadays the media can use unknown for every single thing so I can literally do a video right now and tell you an unknown source told me that Magic Johnson is running for president in 2020. I can say that and I cannot get in trouble for it and no one’s going to say hey it’s alright and under who who must be the unknown source. I don’t have to give that to you back in the days you have to when you are doing research f1000 research, f1000research in your hearing views. I don’t pay attention to the unknown. I want to know who knows I want to know. It’s a credible source. I want to know who the name is of the person that believes them. What is their credibility in a marketplace. What do they think about this. I want to know that and by the way on both sides I remember being in California was invited to this very very very wealthy three point. Nine billion dollar man’s house it was in. Malibu and I went there. There was a fascinating night because here was the Democratic presidential campaign manager for Clinton Bill Clinton and here was the Republican a presidential campaign manager for Bush both of them won Bush jr. you know GW and Bill Clinton and they were going at it right. I mean that hour and a half for me was. I’m just listening to these guys going at it because both of them have credibility. Both of them helped somebody become a president. Both of them going to talk a lot of to each other both of them. I’m going to say what’s wrong with this person. What’s wrong with that person. He just kind of watch this battle got it right you learn more then you do just somebody without any credibility because this guy’s holding the other guy accountable number five number five once. I do my research f1000 research, f1000research on whatever it is we want to move to Texas. I’ll go through it with you right now topic moving to Texas instead of California number. Two what are we solving for a good place for headquarters. Texas has the most fortune 500 headquarters in America tied with New York California’s number three.
But it’s dropping off because more headquarters are leaving okay so better headquarters state taxes. Texas has no taxes California has got thirteen point three nine point three – thirteen point three Texas zero state taxes. What else are we solving for. Lifestyle for my employees that are working. There will be better because they can save more money. I can pay them more what else. I’ll be solving for my family good community. I’m a capitalist. I’m an entrepreneur. This is a good area. Why don’t we do this. That was number two right then. I’ll go and get the facts. Let’s get the facts. Thirteen point three taxes that does all these stats. How many people are for every two for every one person from Texas that moves to California two people from California are moving to Texas according to Time magazine so why is this happening according to these stats you know Texas offers more this California offers more this then I got the stat once you get the stats then I hear opposing views I want to hear what people from Texas are saying about California. I want to know what people from California are saying about Texas specifically with Governor Perry. Who was the governor of Texas and I want to hear what Governor Brown is Governor of California is saying about Texas. I want to know both views then from there. Step number five. Is you go to somebody to people close to you that you value their opinion and you present them your research f1000 research, f1000research and you let them come back and say well. I don’t know about this Pat because the one thing you’re not looking at it’s not that that’s at that she’s right that makes sense oh. I think I agree with you. Pat because look John what you’re saying over this because one of the things that I don’t agree with you that I agree with. Pat is the fact that this but Pat the one thing. I don’t think you’re looking at is the long-term effects of this decision that you’re making because if the money can be put in another place then once you have that that’s step number.
Five number six is come up with your own conclusion on what you believe. Best decision is going to be made and what you believe. Your best opinion will be on a move to Texas on marriage or staying single on buying or renting on being a capitalist a socialist or communist or Republican or Democrat on being an atheist or a Christian or you know whatever it is that you want to be there on LeBron on Jordan on Kobe or Kareem. Then you make that decision and face. The worst-case best-case. What’s the worst-case best-case best-case. I believe this is the decision that I need to start buying properties because I’m going to have some income going long-term worst case it completely flops. Because the market tanked and I lose my income and I didn’t make the best decision for myself. Ok can you handle the word case. Worst case yes then go best case. I think MJ is the greatest basketball player of all time. Worst case LeBron wins three more championships. Then people say he’s got six and he’s been in the championship two different teams four times. No one’s ever done that before he’s got all these stats he’s daddy maybe this is the way. Jordan got kicked out of you know a first round three times. LeBrons never gone kicked out of first round. That’s a pretty strong argument right there right. I’m an MJ guy. I’m a Kobe guy so this is what I believe in. I’m comfortable with this. And then you go take a stand for whatever you believe in whatever you don’t based on your research f1000 research, f1000research knowing that you’re still going to have opposition based on what every decision you’re making but it makes sense to you and by the way what. I just told you some of you guys may say Pat this makes no sense with career or business. I mean you talk to sports and all this other stuff go career in 1999. I’m working at Bally Total Fitness. I knew that the way to go was to learn sales then I knew I had to learn how to manage salespeople then I knew I had to be an entrepreneur and an and knew had to learn how to treat my business as a CEO because if I don’t I’m gonna flop.
I knew that so once I knew I was going to be in sales then I had to ask myself what industry so if I wanted to find out the industry. What am i solving for. I wanted an industry. I talked about a couple last night. Paul and I we were at st. Regis here in Bal Harbour Miami. We’re staying at a 12 million dollar penthouse here view of the Miami Beach arriving a good time and we’re here for a couple different business meetings but last night. I’m telling this guy were talking and one of the things I was telling him what was I just talking about right now. Paul I was talking about. I was talking to a couple but the point I was making is what point was I making. Yeah industry so. I was talking to the guy and I said for me. What am i solving for within industry so 99. I wanted an industry where I could have a life and I can go do whatever I wanted my life and have my kids here and my kids can come to the business and I want to have a good family. I want to be able to do those things. I want to be very wealthy. I want to have money. I want an income. That’s going to pay me for the rest of my life. I want freedom. I want control. I don’t want to constantly be selling a house on Sunday so I eliminated real estate and then I went through a process of elimination. I got a ton of research f1000 research, f1000research. I did on the stock market. Why people were getting serious. 7th in 1990s why people were getting serious 6 and 63 and 80s why people were getting insurance licenses in the 70s why people got the real estate license in 2000. Why people look. I wanted to find out all these stats. I wanted to find out what the real estate trajectory look like every decade. And why is it that for every two decades real estate does bad. Then we have one great decade then – you go back in the last ten decades you’ll see that trend which too bad one grade too bad one grade too bad one grade and we just had a great decade in the 2000s.
That means we may have two more bad. Decades in 2010 in 2020 and 2030 becomes an explosive decade and really. I just started doing these research f1000 research, f1000research to get the numbers and I made a decision to go into this so the system. I’m covering with you. The six steps choose a topic number two. What are you solving for number three get stats from credible sources get stats from credible sources number four here opposing opinions on what people are saying number five go to two other people that you respect that have credibility with you and present them your research f1000 research, f1000research and number six come up with your own conclusion on what you believe in and be prepared to know the worst case and the best case of you moving with the decision that you have made and see how that works out for you that is the process. I’ve used all these years for research f1000 research, f1000research. Some people may say what sources do you use. Internet Google all this other stuff. I mean again that’s the credible sources when I hire people I look at their social media. I look at their LinkedIn. I look at their Facebook. The higher the level is the more research f1000 research, f1000research. I’m trying to do. We’re calling references. We do a background check because I want my odds in my favor. I have two other people that interview with them before we make a decision to bring them on board. We ask specific questions that I may bring another person may bring. We may give them a challenge before we hire them because that process has worked for us. If you got also learned how to research f1000 research, f1000research on people but every single thing you do if the the importance of the decision is high requires more research f1000 research, f1000research. If the importance of the decision is low requires less research f1000 research, f1000research to make that decision so. I hope today you kind of got a chance to get into my mind and see how I process issues when we research f1000 research, f1000researching the topic and hopefully these six steps can help you as well when it comes down to doing research f1000 research, f1000research on anything in your life. Business or personal life and so if you have any questions about today’s episode make sure to comment on the bottom if you haven’t watched a video that I did called 10 things you need to do before you become an entrepreneur Paul.
Why don’t we put the thumbnail of it. So do you know what it looks like. The link will be on the bottom as well. I highly recommend you going and watching that video so you understand what gave birth to today’s videos. So if you have any questions thoughts comment on the bottom if you have not subscribed to this channel click here to subscribe and you can join the notification squad by clicking on this alert button and being one the first to receive the videos once the videos are uploaded on. Val you can take everybody’s go bike you.
Where to find great research papers?
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You can very easily find papers on a variety of topics at Global Research Letters, which will help you with your own research work and understanding of writing and publishing research papers properly. With access to so many amazing research papers, you can practice and learn the process of writing research papers and their importance.