How can aspiring entrepreneurs streamline the way they achieve their biggest real estate goals?
With the first month of 2016 coming to a close, many people have probably set resolutions. Whether they were personal or business oriented, there is probably a large population that has already given up. However, I can assure you it’s not too late to get back on track. If you are intent on seeing your goals through to the end, I recommend trying the following:
1. Take Action: Everyone has ideas, but achievers act on them. They act intentionally, and with purpose. It is never the perfect time, you may never know absolutely everything, it will never all be easy, and longer term plans or features may change, but regardless of all this, achievers step out and take action. Do yourself a favor and take action. Nothing will come to fruition if you don’t take that first step.
2. Know What You Want to Accomplish: It’s hard to achieve your goals if you weren’t clear in establishing them int he first place. So what is it that you want to accomplish? If it’s monetary; how much? If it’s helping someone; who is it? If it is a certain number of real estate deals; how many is it? If it is simply being the best; what measurements and metrics will you achieve to demonstrate that?
3. Plan: It sounds basic, yet so few real estate professionals have a real meaningful plan. Going through the motions of creating a lifeless business plan just because you have to doesn’t really count. Layout the really big vision you want to achieve. Make it engaging and inspiring. Look at any major architectural feats, the creation of ancient empires, historic works of art, and even the rise of Facebook and Uber; they were planned. The framework was drafted out in advance. So get a real plan.
4. Identify: Making the finished product come to life also requires you to put the right pieces in place. Uber literally needed vehicles and an app to unleash its empire. Facebook needed code and servers. Michelangelo certainly needed paint and ladders to craft his masterpiece on the ceiling of the Sistine Chapel. The Empire State Building required many materials, and logistics to be worked out. What will you need to learn about real estate? What software tools, building materials, and other resources will you need to make your masterpiece?
5. Create a Model: Facebook started off at a single school. Before you build and sell a massive new real estate development, you’d probably commission a model built to scale. Before you try to buy a portfolio of 100 homes, you’d probably want to work out the quirks and get familiar with the process. However you plan to get into real estate, find a way to begin with a model you can scale efficiently. I can’t stress this enough. It is much better to fail at a smaller level than at a larger one.
6. Break Down Your Action Items and Timeline: Entrepreneurs typically overestimate what they can achieve in a year, but far underestimate what they can achieve in ten. Achieving your biggest lifetime goals doesn’t have to be a sprint, it’s a marathon. You do need to get going, but giving yourself some time can take off a lot of the pressure, and ensure better decision making. So break down your own timeline, break up our actions into easy bite-sized pieces, and roll with it.
7. Where the Magic Happens: It’s time to find those that can help, and to gain leverage by leveraging other people. Who can help you on your mission? How can you leverage the time, knowledge, connections, and finances of others? It’s when you start connecting with others in this way that real estate pros can really gain traction, and make big leaps to their goals.
Those that achieve big things take action, have plans, take inventory, build scalable models, allow time for results, and look for others to help drive them forward. So put the above into play, stay focused, make the consistent steps, maintain your passion, and look for leverage to hack time.