How can aspiring entrepreneurs streamline the way they achieve their biggest real estate goals?
Most people set resolutions and goals at the beginning of a new year. Whether they were personal or business oriented, there is probably a large population that has already given up, and we aren’t even two months into the new year. However, I can assure you it’s not too late to get back on track. If you are determined to accomplish your goals, try these tips to keep your head in the game:
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. Regardless of all this, achievers are decisive 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 Exactly What You Want to Accomplish: It’s hard to achieve your goals if you aren’t clear in establishing them in the first place. Exactly what is it you want to accomplish? If your goal is monetary, how much? If it is helping someone, who is it? If it is a certain number of real estate deals, what is your number? 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 carefully and intentionally planned. The framework was drafted out in advance. Get a real plan.
4. Identify: Bringing the final product 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 and 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. Break down your own timeline, break up your actions into realistic steps, and roll with it.
7. Where the Magic Happens: It’s time to seek out collaborators, and to gain leverage by leveraging other people and their expertise. Who can help you on your mission? How can you leverage the time, knowledge, connections, and finances of others? When you start making the connections and establishing these partnerships, you will truly gain traction and make big leaps toward your 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 be on your way to accomplishing your goals.