13 Jul The Often Lost Key to Property Success 🔑
When it comes to success in Property the key is to focus on the goal and not the obstacles.
Trust me, if I’d given up every time I encountered an obstacle I’d still be on the fence pondering my first deal. My problem way back then was that I didn’t have enough money and I had a grandiose plan to get into development. Thinking I was ten foot tall and bullet proof was both an asset and a liability.
As you are aware, obstacles are a part of life. When it comes to property there will always be smorgasbord of obstacles, and I could write a book on the subject.
First come the physical or tangible obstacles to overcome – finding the right deal, getting the due diligence right, getting finance, selling our product etc. Amongst that, getting approvals and permits from Councils. Don’t start me on Councils – it’s about the only time, excluding when I have technology issues, that I will let rip with a string of words my mother would soap my mouth for.
Then there are architects, builders, marketers, etc. that can come with their own sorts of interesting problems. You get my drift; this list can be a long one. But what you don’t want is for this list to be an excuse for stopping you.
The big inhibitor is the intangible. It’s the stuff that goes on in your head that stops you which is a result of the tangible from the past. Not always your tangible either. Your parents could have influenced you through something they experienced, or perhaps you have a low risk tolerance. These come from your mum not letting you climb that tree in the back yard or a recent business or personal dilemma.
It doesn’t really matter. What matters is that you progress toward the things you want and don’t allow the fear of potential obstacles prevent that. Don’t let what could possibly happen in the future prevent you from doing what you must do in the now.
Are you going to stop driving your car because you could potentially be involved in an accident?
When you focus on the goal and not the obstacles you will achieve the goal, because:
“Where focus goes, energy flows”.
So the trick is to feel excited about the end result. Then to minimize the obstacle potential by identifying what they could be. Educate yourself on the technical, financial, patch and market. Trust your gut, too often we ignore instinct and lastly get the right people around you.
We have spent the afternoon out with my Town Planner and a Heritage Architect looking at a site with potential that has demolition issues.
It is for one of my mentoring students who has just the right amount of focus!