In life and business, mindset it truly everything. If you don’t have the right mindset and you’re stuck in complaint and inaction, it’s impossible to take that next leap in life or your career, especially in real estate investing. You first have to be mentally prepared and have the right tools to stay focused and disciplined.
It is also said that success is 80% how you think and 20% how you act – But how do you get prepared and start thinking the right way?
Some of the most successful people in real estate who have accumulated millions of dollars of property in their careers shared their views and techniques during the Best Ever Real Estate Conference we attended last month in Denver. So sticking with the theme of new starts and growth this spring, we wanted to share some of these ideas that help to shift mindset and put systems in place to achieve goals, whatever they may be. We use many of these tools on a daily and weekly basis and have found them to be a great way to focus and reach our goals.
We know that new ideas or techniques are often challenging to use or accept, but there’s a quote we like to use at Akras that puts that unease into context:
“There is no growth in the comfort zone and no comfort in the growth zone”
The following are our top 7 key takeaways from the highly successful real estate investors Brandon Turner, host of the Bigger Pockets podcast and Trevor McGregor, business coach and consultant, who had keynote presentations at the conference. These tips and strategies will help get you to that next level in your life no matter what your goals are!
1. Condition Your Mindset Daily
What are you doing to learn and grow and is your daily routine serving you? Are you positive about the way things are going? If not, why? How can you switch yourself into a positive mentality through gratefulness exercises, meditation, exercise or a combo of all three?
2. Say “NO” Unless It’s A “Hell Yes!”
Too often we say “Yes” to everything people ask of us, loading us with distracting busy work. If you say “NO” to most things that are not related to achieving your goals, you are freed up to more often say “YES” to things that will help you achieve them. Successful people learn how to say “NO”, as they know how valuable their time is.But how do you know what to say No or Yes to? First you must have a goal set. Brand suggests to define your Wildly Important Goal (WIG) and write out this goal daily. This is a goal that is audacious and huge – 10x what you would normally set for yourself. Then schedule time with yourself in your calendar (yes, make a meeting with yourself via your smartphone each week) to work on how you are going to get there.
3. Build Incredibly Strong Networks
Are you consistently networking, adding value to your contact’s lives, do you have a system to meet new contacts? We talk constantly in the Akras Insider about building networks and finding partners. This is truly the key way to being a success in REI and life.
4. Honor Your Strengths and Farm Out Your Weaknesses
Are you doing the things you are great at? If you are trying to do it all, then there are some changes you likely need to make. There is someone out there willing to do the things you don’t like for less than you have to invest in, and will do it better. Use these resources!
5. Create “Lead Measures” – The Activities That Produce Results
Most people set goals based on outcomes like earn $X in salary each year or lose 20 pounds of weight. But some of the most successful people don’t just look at the results themselves, which are called “Lag Measures”, they set goals to conduct activity that leads to results.
Create measures for success that pertain to your goals and follow them to help you start to see results. A little confusing? Yeah, we know – here’s an example: For a lead measure, read 2 books a month that pertain to educating you on your goal, whether it is real estate investing, learning a new skill or anything else.
The idea here is that progress towards goals starts by having and implementing a process, so if you develop a process, start building and tracking your daily habits/process that are going to help you achieve that goal, eventually you will have positive results.
6. Accountability – Get Some In Your Life and take MASSIVE action
The most successful people physically write out their goals, and the actions and commitments that will go with achieving those goals, and then they have someone hold them to account for actually doing the necessary work. People that have someone hold them account on a weekly basis to achieving their goals are way more likely to see success. One structure that has gained attention in the last couple of years are “Mastermind Groups”, which is a group of friends or colleagues that get together once a week to discuss goals, share business and hold each other to account on achieving their objectives.
7. Show Extreme Gratitude, Every Day
Academic and scientific studies have shown that feeling grateful and showing gratitude have a number of health benefits, such as reducing stress and blood pressure, promote better sleep and can even help you earn more money. Set aside time daily to feel grateful, especially in the morning before the day begins, and be specific. Are you grateful for that warm cup of coffee, or the sound of your family getting ready for the day? Think it, and then and share it with them!
A couple of other action-oriented ways to begin expressing gratitude:
- Before you take a look at your email inbox, write down 3 things or people you are grateful for and then make that the first email or two your send. This will start to positively impact your whole community of friends, colleagues and family.
- Try keeping a gratitude journal and focus on showing gratefulness to others. The Akras Team does this at the beginning of our weekly meeting and it’s a great way to start the day and keep things in perspective.
So there you have it – a treasure trove of wisdom and experience from folks who are successful, any way you measure it.
If you finish reading this article and commit to taking action on even 1 or 2 of these mindset exercises or techniques, you will see nearly immediate results. We know all of this is way “easier said (or written) than done”, but again, success is the result of getting out of your comfort zone, doing something different and experiencing growth.
If you’d like to talk more with the team at Akras Capital about any of these ideas, or about how we employ them in our business and lives, please submit a comment below or feel free to reach out to us and set up a call.