This article covers the following three principles.
- Recognize the Opportunity
- Set SMART Goals
- Goal Orientated Action Living
[insert circular diagram showing ongoing process]
Understand these and you’re on your way to greater success not only in Commercial Real Estate Investing, but any business or sphere of life.
First Step – Recognizing the Opportunity.
To recognize opportunity, you need skill. This is why they say luck favors the prepared. Prepared not only in developing a valuable skill, but also in the ability to recognize the opportunity. As they say, the only thing rarer than talent is the talent to recognize talent. Similarly, the only thing rarer than opportunity is the people who can recognize (and sieze) those opportunities.
You will need to understand your market. Listen. Read. Make a list of questions and ask the best experts you can get a hold of. Try to create value. Come up with a list of ideas every day. Force your mind to expand. Be Creative. It is a skill that can be learned.
Whether you’re already in Commercial Real Estate, or Real Estate, in San Diego, or anywhere, the fact is that there are very clear steps you need to work through, to create your future. Remember, everything is created twice, first in your mind, then in reality.
Second Step – Set SMART Goals
Therefore, you must decide how much you want to grow but you must also write it down and set it as a SMART Goal. Multiple research shows that by just cultivating the habit of setting and writing goals, one improves their chances of reaching those goals.
It truly is best if you physically write those SMART Goals on paper as this involves the additional senses of touch and sound. This has a deeper impact on your brain imprint thus helping you condition yourself towards achieving those goals. Either case, whether typed or handwritten, they goals should be:
Specific. The more specific you are, the more likely you will hit your target. Being specific in a goal, is the process of aiming itself.
Measurable. You need to define it in a manner that can be measured. Quantitatively and Qualitatively. You need to regularly analyze your performance against your goals. The best ways are to schedule recorded weekly meetings, either with your team, or yourself (or both). Specify your measurable and create and maintain your database. It can be a simple spreadsheet that you update daily. Maintain a journal of your progress. This act is similar to you ‘teaching yourself’ and is indispensable.
Achievable. Your must be in a position to achieve the goal. This often requires developing the required skills and domain knowledge.
Realistic. Needless to say, you can’t have your cake and eat it too.
Time Bound. You must set specific deadlines for specific events. And remember, Parkinson’s Law applies – work expands so as to fill the time available for it’s completion. Break your day into specific priority orientated segments. Treat each like a sprint. Make it a game. Try to outdo yourself. Make it exciting. Set small immediate rewards for yourself each time you do. This is how you can learn to manage your energy. Why do children have so much energy? They are always playing. They are making games out of nothing. If uplifts you when your playing while on the other hand working seems like a drudgery to anyone who has not mastered the art of playing.
Understand your Why’s. Create your Mission Statement. Read it aloud every day. The act of speaking and listening helps to condition yourself towards success. Who do you idolize? Learn about them and “Act” as they would have. Model them. Do it. Do it again. Keep doing it.
Third Step – Goal Orientated Achievable Life
It’s not just about time management. It is not even about just priority management. It is about Energy Management. Consistently Managing your Energy towards your Priorities is going to be your key to success. That line is so important, read it again.
Consistently Managing your Energy towards your Priorities is going to be your Key to Success.
Every word is actionable. You need to consistent, diligent and tenacious.
Managing, because as you can not control people, you can not fully control your own emotions either. So it is the ability to manage them. There are specific tactics that can be easily applied to deal with a wide variety of emotions.
So it’s really about Energy, not just time or principles. Think about it, is every working hour of your day equally productive? Sometimes you need to doing better at something yet you are unable to for a variety of reasons. It is probably because your energies have already been spent on managing your emotions and have not yet been replenished enough.
Muscles need to be exercised and rested to grow. Long term memory is imprinted when we sleep. Similarly, your energy needs to be managed. How do you do this? Start by choosing the right priorities and consistently focusing on them.
You must understand your limitations while simultaneously slowly challenging them consistently. It is a balancing act. As long as your center of gravity is self-correctional i.e. your priorities are consistently focused on, you will progress successfully. Make a mantra. Word it in the present tense. Say it to yourself 10 times every morning after you brush your teeth. I challenge you to do just this for 30 days and report back in 30 days the positive difference you see in your lives.
If you can’t manage your life effectively, you won’t be able to create & manage a business plan optimally either.
Final Tip – Keep remembering Pareto’s Law. The 80/20 Rule. Most of your results are based on only a few of your actions. Learn to consistently focus your energies towards these key actions.
I’ll be looking for comments on this post after you have taken my 30 day challenge.