Everyone knows that when you’re in business whether it is real estate or any other type of business you will have to make decisions. As you know, these are not always going to be easy decisions either and may cause some anxiety. Sometimes these decisions will impact your future, the future of your business and even your family.
We all know… if we want to get ahead we need to make decisions that will get us where we want to go. Since I started working with new real estate investors, I realized that the “decision making” is a big obstacle for many. The sad truth is many people that want to start a house buying business can’t seem to make the first decision to actually GET STARTED.
If you can’t make a decision you are not going to get very far very fast and that is why I wanted to discuss this topic since this is a character flaw that many real estate entrepreneurs everywhere struggle with. Your real estate investing success depends on your ability to be decisive!
First you need to realize that making decisions whether they are right or wrong are critical to succeed and move your real estate business forward. You need to start somewhere so instead of finding excuses or being afraid of making mistakes, I suggest you decide to START now – stop here and write down your NEXT step that will get you started. I suggest your next step is calling your first seller out of craigslist, if you’ve never done that. Or calling a real estate agent and scheduling a meeting. Or… find something you need to do and get it going!
Many of you are afraid of making a wrong decision. I suggest – get over the fact that you will at times make the wrong decision but think of it as a learning experience. One of the realities of life is that you can’t know all the facts about every decision. Typically, there is not that one thing that just makes the decision easy. Therefore, you have to make decisions in spite of all the uncertainty and the bigger your business gets, the less certainty you can have about any decisions because there will be more factors involved.
My students think… Marko Rubel makes decisions quickly… but the fact is that I sometimes have problem myself making a decision when I don’t have all the facts I need. However, I still make that decision because I realize that delaying the decision is more costly than making the decision, even if I have to risk not being 100% right due to not having all the facts. So I stop delaying and I decide on it. So decide now to decide on something today!
Indecision is simply procrastinating where you put off making a decision. Most of the time you have all the information to make a sound decision but you hesitate and look for more information to confirm the information you already have and still you hesitate to move forward with a decision. Again, talk to “yourself” and decide to decide!
Most people try to keep their options open and this creates indecision. Having to make a decision is permanent and a real commitment for you to follow through. It is funny that even the smallest decisions we sometimes hesitate on and try to “buy” time. For example, someone asks you to go to play golf this Tuesday and you responded by saying you’d let them know in a couple days? Have you ever answered like that even though you knew you had nothing going on Tuesday? The bottom line is that really nothing is probably going to change between now and Tuesday but you are leaving your options open and that my friend is indecision. In other words it is avoiding of making a commitment.
I believe that making decisions effectively is not something you were born with but a learned behavior that if you consciously think about you can improve. Making a decision fairly quickly can relieve you of the stress associated with the no making a decision. When you make a decision, you’re effectively eliminating other alternatives and now you mind is free to process other. Don’t make excuses to yourself for why you are delaying the decision but instead consciously make a quick decision based on the information in front of you. Thinking about that golf on Tuesday is wasting your time, energy and brainpower which you could put toward other more important things.
I’d like to share with you the saying that often comes to mind when I’m delaying making a decision… think about it next time you need to decide on something…
“Shoot Now, Aim Later, Get Rich Faster!”
If you are a one man or woman show and you don’t make a decision, nothing gets done. It slows your ability to accomplish any task. It diminishes your ability to grow. In addition, after a period of time it affects you overall confidence and your ability to execute on your plan effectively. It is a drain on your brain.
You need to free up yourself for moving your real estate investing business forward and keeping your eyes open for profitable opportunities. Sure there are decisions which need more time but only if that time is used to gather more facts and to analyze those facts instead of just avoiding making a commitment to the opportunity in front of you.
So, if you see yourself in what is described here and waffled over making a decision, you have to start working to correcting it now. The biggest thing is to make that decision NOW to correct it.
Decision making is a learned behavior and therefore you can train yourself to make timely decisions and make better decisions. The more you do this, it will snowball and become part of your nature since you are now taking action and building confidence in yourself.
To be successful, you have to be able to commit to a course of action understanding that there are always going to be risks involved in every decision you make. If the decision turns out to be wrong then you need to adjust and learn from it. In a short time you will become comfortable with this process and making decisions will be a snap.
Your confidence will grow with each decision whether right or wrong and your business will start to blossom. Then, one day you’ll wake up as wealthy & decisive real estate investor.