The following video is part of our "Motley Fool Conversations" series, in which analyst John Reeves and advisor David Meier discuss topics around the investing world.

Here are two bits of wisdom from Peter Lynch that can make you a better growth investor. The first thing Lynch says to do is "invest early" in a growth company, perhaps in the equivalent of the company's third inning. Investors want to have a long runway ahead of them. That's why John and David have invested in LinkedIn, even though it doesn't necessarily look "cheap." This strategy doesn’t always work out, though. An early investment in Zipcar has been painful for John and David so far. But that's why investors should build a big portfolio of growth companies.

Lynch also says, "Let your winners run and cut your losers." Most investors tend to do precisely the opposite -- adding to the losers and selling the winners too early. This strategy isn't foolproof, either. John and David added to their position in Google on the way up, but they've also purchased additional shares of Infinera on the way down.

While these two pieces of advice aren't perfect, they seem to work more often than not. Investing early and letting your winners run are two ways you can invest better.

For more, check out the following video.

We all would like to build long-term wealth and retire well. In our free report "3 Stocks That Will Help You Retire Rich," we reveal some stocks that could help you as well as some winning wealth-building strategies. Click here to start reading.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.