There is still time left in 2014 to achieve all of your real estate goals, but you had better hurry up. Without fail, at the turn of the calendar year there are slews of investors who vow to achieve their goals and change the way they do business. By around the middle of February, they are right back into their old patterns, left wondering where they went wrong. Making goals is a great way to be productive. Before you decide what your goals are, you need to determine just how you will plan to achieve them.
Having a goal can be a wonderful motivator, but it can also hurt your business if they neglect to be realistic. The first step in achieving your goals is to set the bar low enough and work your way up. You are not selling yourself short if you don’t shoot for the moon. If you can make smaller tasks and see yourself executing, it will provide positive reinforcement and make you want to achieve more. Having a goal of closing 50 deals a year is admirable, but it may be a bit too ambitious. If your goals are too big, you will constantly suffer rejection and this can lead you to do more instead of less. Regardless of where you are in the business, start with smaller daily tasks and work yourself up to bigger ones. Small steps equal big accomplishments.
With every goal you make, you need to have a plan for how you will achieve it. If your goal is numbers driven and you want to close certain amount of deals a year, you will need to reach a certain number of people. How will you meet these people? Are you going to focus on marketing or networking? What, specifically, are you going to do to push you towards your goals? Are you going to join a local networking group or a real estate investing club? Are you going to direct market to distressed homeowners or focus on banked owned deals? The more detailed you are in the fulfillment portion of your goal, the better chance you have of achieving it. There are dozens of little things that separate you from your goals. If you write down every step of exactly what you need to do, you will have a much greater chance of success.
Knowing what you should do and actually doing it are often two very different things. The next step can be difficult at times, but you need to take a look at yourself and how you run your business and determine if you are getting in the way. Do you have any bad habits that are hampering you from your goals? This could mean anything from sleeping in to spending too much time on social media. Do you not answer the phone when it rings? Do you spend too much money on items that don’t offer a great return? Do you spend the proper amount of time working on your business? What you do throughout your day eventually becomes a habit. Some of these habits are difficult to break and can bring your business down. If you really want to achieve something, you need to figure out what is getting in the way and how you can overcome it. In many cases that is you and how you spend your time. Fortunately, you can program yourself to make changes. If you commit to these changes every day, eventually you will form new work habits.
Too many times we are focused on what we need to achieve instead of what we have to achieve them. Every investor has a specific skill or network that sets them apart from everyone else. This may not be what you do, but the way you do things that can lead to new business. It is easy to get caught up in trying to search for new contacts to help achieve our goals that we often overlook the people that are already in our network. With any goals, you should take an inside-out approach. Start with you then work towards your network and then look to bring new people in. Many of the goals you want and the resources to achieve them are right in front of you often without you realizing it. Don’t forget about your network and the people you may have worked with on previous deals. Between these contacts alone you can get a significant head start on whatever your goals may be.
Once you have goals in place, it is important to note that reaching them won’t be easy. If investing were simple, everyone would do it. Many people have a goal of losing weight When it doesn’t happen fast enough, they give up and start again many months later. With your investing goals, there will be many days when you want to give up and you wonder why you are in the real estate business. These are the days that will separate you from other investors. If you can push through and constantly take baby steps towards your goals, you will get to where you want to go. You don’t need a new year to adjust your goals. Start today to get your business where you want it to be.