Success in any area of life requires certain ingredients. They may not look exactly alike for each person, but many have common characteristics. Throughout my journey, I’ve learned some incredibly valuable lessons when it comes to achieving success. Today, I’d like to talk to you about habits.
Now, habits can be a good thing, if the habits propel you toward success. However, if you’ve got some bad habits going on, it will thwart your momentum. Bad habits can slow your business down, or worse; shut it down completely.
Whether you’re a newbie investor, or you’ve been investing for a while, avoid the following 4 habits so that you can be a rock-star investor.
1. Competing against others
Talk to some of the best professional athletes out there who have secured mega success who their biggest competitor is and you know what they’ll say?
Themselves.
The reality is that their biggest obstacle toward their success is their mind. Their thoughts. It’s not their competitor that they’re up against. It’s those negative thoughts or doubts in their own mindset that they’ve learned to beat.
In real estate investing, some investors get caught up in looking at those who’ve been highly successful and start comparing themselves. Then, they’ll get down and think, “I’ll never be as successful as them.” Or “How can I compete against all these seasoned investors?”
See, those are the types of thoughts that will stunt your business growth. That type of thinking is a habit you must avoid, because the reality is that you can be a successful investor regardless of what anyone else is doing in the market. This isn’t about them. It’s about you upping your investing game, eyes fixed on YOU and your mindset. When you can beat negativity in your own mind, you’re breathing success, and life just has a way of lining up with that success on all levels.
2. Being too general
Yes, you want to be a successful real estate investor, but what exactly does that mean to you? What does it look like? How will you measure your rate of success in a tangible way?
See, one bad habit people can get into is creating goals that are too general. For example, let’s say you want to make more friends, so you think to yourself, “I have a goal make more friends” and then go about your life. If that’s all the energy you’ve given that goal, chances are you won’t make any new friends. Why? Because it’s too general and you haven’t developed some sort of plan to actually achieve that goal. How many friends do you want? In what ways will you try to meet new people that could become friends?
When it comes to goals, create goals that you can measure and create a systemized plan on how to achieve those goals. Each successful investor will have particular goals. For one, it may be to have five rental properties, for another, it may be to purchase and flip five homes per year.
Are your goals realistic? Are they measurable? Are they within a realistic timeframe? Get very clear about your goals and then create a plan of action to work toward achieving them.
3. Hanging with Negative Nellies
If you’re spending time with those that tend to be negative, their “Negative Nellie” energy will affect you. You may not notice it, because it’s become a habit. You’re used to the negative remarks, complaining, or their “life is what it is” attitude.
But on a deeper level, those negative vibes bring your vibe down. If you’re hearing things like, “Don’t believe those real estate gurus. They’re full of lies. They just want your money. You are just wasting your time and money”, steer clear of these folks. Or, let them know you don’t appreciate that negativity, and ask them to zip their lips on that topic.
Surround yourself with those that will believe the best for you in your real estate endeavors. Those that will uplift you and encourage you. It will make a difference!
4. Skimping on personal investment
If you’re the type that views personal or business growth as an expense, rather than an investment, you’re less likely to reach the level of success you desire. Successful people regularly invest in their growth, whether it’s business, personal, relationships, finances, and so on.
If you’re after success, go after it! This includes investing in yourself via workshops, books, mastermind groups, hiring a success coach or mentor, etc. Make it a habit to make investments in yourself, and just watch to see the ROI on such wise investments!
If you’re going to have habits, have good ones
Success as a real estate investor is possible. Your journey toward that success may vary from someone else’s and that’s alright. Avoid these 4 habits to continue to work toward manifesting great success in every area of your life.
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