During the Ironman race it is crucial to focus on the one and only thing you can control: your state of mind. So many other variables are beyond your control. Maybe you get kicked in the swim. A turnaround buoy could be placed too far. Weather could be uncooperative. You can drop a bottle of nutrition or get a flat tire during the biking. You can wake up the morning of the race with a splitting headache. Physically, and for reasons unknown to you, you can have an off day (as was the case for me). The list of uncontrollable factors goes on and on, but the one thing you can control is your attitude.
The same is true in real estate. Prospects can tell you know. Buyers and sellers can get upset. Appraisals can come in low. Financing can fall apart. — Now, don’t get me wrong: you can still influence these types of problems and help sway them towards a positive outcome. But the one and only thing you remain 100% in control of is your state of mind. No matter what challenges you face, do not be a victim. Instead, remain calm, remain positive and find a solution.
A great support team is a necessity. Leading up to the race, my wife and family supported me during the long training hours I put in daily. During the race there were definitely times I felt like quitting. Knowing that I had family and friends out on the course supporting me helped me to keep moving forward. During training I had support from a lot of other people as well: a coach, a trusted bike mechanic and a chiropractor. All of these people contribute to my success.
No matter your level in real estate, you need to have support team around you. Beyond your immediate help, this also consists of support from key vendors like lenders, home inspectors, title companies and contractors. As your business grows, you will hire members directly to your team to further support you. Success in real estate is ultimately limited by how many great people in supporting casts you can build around yourself.
After the race I had a feeling of gratitude for what I had accomplished, but also a feeling of dissatisfaction. So I took the opportunity to look back at my training and see what I could have done differently, and then came up with a plan on how to improve in my progress towards my goal.
Take this same approach in your real estate business when things don’t go your way. Learn from why you did not get the listing or why you failed to book an appointment. Learn from why one of your contracts fell apart. Learn from why you had a month with no sales or bad profit numbers. Be grateful for the opportunities you have, but also be unsatisfied with less than stellar results. Learn how to do better the next time you are up.
Micro-tasking is a great way to help achieve something you might think is overwhelmingly daunting. After setting a big goal, work backwards from your end result. Determine what needs to happen at each stage until ultimately you figure out the next action you need to take and then focus on that action. For example if your goal next year is to double your transactions, focus on the next marketing campaign you will start or the next hire you will make. Then do it and focus on the next required action. Breaking down your goals like this will make you more likely to focus on the next action required and accomplish it, rather than getting paralyzed by the size of the goal and not taking action.
Achieving big results requires you to perform at a high level with consistency. You do not know what part of thetask will test you the most so you need to continually bring your “A” game if you want to set yourself apart from others. Remember that what got you to your current position might not take you to the next level. No matter what challenge is thrown at you, stay focused on the one thing you can control: your state of mind.
Don’t limit yourself by neglecting to build a great support team around you. Do not let setbacks discourage you, but rather view them as temporary learning opportunities. No matter how big the task is, keep moving forward by taking it one step at a time. I am confident that if you keep these principles in mind you can take your real estate business to the next level and beyond.