Despite the relatively rapid development and deployment of COVID-19 vaccines, the coronavirus pandemic continues into 2021. Its spread has left economies and businesses around the world counting the costs, and many experts predict that the recovery will be long and painful. Still, there are many opportunities for both new and old entrepreneurs to build financial security despite the economic uncertainty.
“The coronavirus pandemic may have slowed the world down a little bit, but it didn’t come to a full stop,” says Richard Dolan. “There are a lot of opportunities to establish and maintain wealth in these uncertain times, but you need to be quick to adapt in order to succeed.”
Richard Dolan is the head of the boutique investment firm LEGACY and a renowned and respected financial advisor with a 30-year tenure. During his extensive career, Richard raised over $7 billion in assets and has provided strategic intelligence for thousands of high-profile clients, including superbrands such as Pagani Automobili, Bentley Motors, Google, Chanel, and Rémy Martin, and some celebrities like Drake, Steve Aoki, and Mike Tyson.
Richard’s distinctive approach to success stems from a ten-year period he spent within the research fields of financial psychology, investor resilience, behavioral finance, and happiness economics. With the knowledge he gained, Richard derived his highly successful “urban financial philosophy,” a unique approach to reinvention, recalibration, and financial restoration.
As Richard points out, the pieces of advice he gives to all his clients are the same “tenets” he uses to govern his life and business: “Teach what you believe, but practice what you teach,” he explains. “I learned at a very young age that setting smart goals, committing to actions without compromise, and working hard and fast to realize them is the key to success. That is the core of my ‘philosophy,’ and that is what I try to relay to my clients.”
He further explains that the first and foremost step on a path of success is acquiring a proper mindset. “Mindset is everything; it is the foundation you are building everything else upon,” Richard says, adding, “Your mindset is the driving force that governs your focus, attention, and bandwidth on a path to success. You need to want to succeed with every fiber of your body because, otherwise, you will give up at the first sign of failure.”
Richard also adds that it is crucial, especially for those who just began their entrepreneurial journeys, to have clear and reachable goals. “Goal, action, and reaction—that’s what you need to focus on. Be clear on what you want and why it matters to you,” Richard says.
“Most importantly, set a deadline by which you want to achieve at least a part of that goal,” Richard explains. “After that, take action every day because the world only moves when you act. Also, taking action will give a reaction in the form of achievement, which will validate and galvanize what you are seeking.”