Numerous sources abound on the habits of highly successful business lenders and entrepreneurs. To be one should always be something you aspire to attain. Just last year, I wrote ” 8 Habits That Breed Success”. As many of you know about me, I started my business with virtually nothing, with English not being my native tongue, I did not even know the most rudimentary of real estate terms and to put it modestly, I have come a long way. To be sure, the road to real estate investing success can be hard, rough, and rocky. Like so many others, I have mastered much and learned a great deal along the way.
A word about being a confident contrarian. No matter your real estate niche, nor your chosen plan or exit strategy, to stand out from your competition, and you must to be truly successful, you have to take action in such a way and with such a presence, that your personal brand stands out from the rest of the pack. Vanilla in real estate is not the delicious vanilla bean ice cream so many favor over strawberry, even chocolate. Vanilla, in real estate, is to blend into the crowd, to be indistinguishable from your competition, to appear inconsequential in comparison to others. It renders you less effective and less successful than you otherwise could be and should be. Confident contrarians when they have to, either step out or step forward from the pack.
Successful entrepreneurs aspire to attain lofty goals, then establish them to consistently accomplish them. There are risks and obstacles to be sure, failures along the way, and even in failure, some of the best lessons are learned. They remain positive, thoughtful, creative, imaginative, and resolute, so when something unexpected happens to throw them off their game, they are well positioned to react positively and secure the best results possible. So when the unexpected occurs, they immediately take stock of what has arisen, and react accordingly. Even in failure, they pick themselves up and take action again.
Entrepreneurs are visionary. They plan thoroughly. They set specific targets of accomplishment. They plan, plot, devise, structure, and implement all that is required to achieve their goals. Risks taken are calculated and well considered before action is taken. They are confident, persistent, innovative, and resourceful.
Successful entrepreneurs start by building and maintaining a strong foundation. They know what they need to accomplish. There is an old adage that goes like this: “If you don’t know where you are headed, you’re not going to get there”. They learn from others. They network, network, and network some more. They all have mentors. Mentors are their guides, their teachers, their coaches, their springboard to the success they seek to achieve. To be successful, entrepreneurs need not reinvent the wheel. Sometimes, they do anyway. Mentors have been there before and their knowledge and accomplishments can be a solid road map to follow.
They build the right team around them as they articulate their goals for operational coordination. They learn to effectively delegate by leveraging the time, labors, talents, and knowledge of others, so they have the time to do what they do best, run the business and make it as profitable as possible. As visionaries with a positive and inspirational outlook, they employ a reality based optimism. They place people before strategy and before profits. They systemize the three pillars of real estate success: marketing, automation, and delegation. They track their efforts and the work product of their team. They employ what works well and disregard what does not. Rinse and repeat.
Successful real estate entrepreneurs develop sound habits for business success. They are confident contrarians when they have to be. With those sound habits, the journey is smooth and profitable.