I have had some dark days in my property investment business.
There were times, especially at the beginning, where I severely questioned whether the business was right for me or not.
In the early days I was worried that I would not find the right property at the right price because I had experienced a number of failures with deals falling through.
I also used to worry about raising the necessary finance for projects and that other people in my team were going to let me down.
But in the back of my mind I always knew that property investment was the right business to deliver the freedom that I so desperately wanted.
So how did I overcome these dark times and negative thoughts?
Two things saw me through every time – the power of persistence and consistency.
So I want you to develop these excellent traits so that you will see your way through the dark days in your property business that will inevitably come. I am not trying to paint a black picture of property investment here. But you need to know that it is a tough business at times and you need to know the best way to come through these times and carry on.
Do you consider yourself a persistent person? Do you have what it takes to keep on going when all around you is in chaos? If you think that you need to work on your persistence then that’s fine as I have some great ideas for you to develop it.
What exactly is persistence? Well one of the best definitions for it is “the ability to continue with a course of action in spite of numerous challenges and difficulties”. In simple terms it is the ability to keep on going when things get rough. And in property investment things can certainly get rough.
One of the first ever personal development books that I read was Napoleon Hill’s “Think and Grow Rich”. If you haven’t read it then I highly recommend that you do. It is many years old now but it is one of the best personal development books ever written.
In the book Hill talks about the need for persistence to succeed with any business venture. Persistence is an excellent trait to develop for many other aspects of your life as well. According to Hill there are four essential steps that will help you to develop persistence:
- You need a goal to pursue and a burning desire to achieve it
- You need a plan to achieve the goal that leads to consistent action
- You need to close your mind to negativity that comes from others
- You need a friend or mentor that will support you and provide you with the encouragement to follow through and achieve your goal
I am sure that all the four steps are self explanatory for you. Hill goes on to say that knowing what you really want (your ultimate goal) is the most important step for the development of persistence. For me it was freedom and I strongly believed that my property investment business would be the right vehicle to achieve this.
Then you need an intense desire to achieve your goal. When you have this intense desire persistence naturally follows. You need to totally believe in yourself as well. This means that you have total confidence in your ability to see your plan through to its conclusion.
Having plans will encourage persistence. People without plans are far more likely to give up. It doesn’t matter how good your plan is to start with. You can always make changes to it. Having a plan to achieve your goal is the most important thing.
Develop the knowledge that you need to succeed. If you are guessing all of the time then this will have a negative impact on your persistence. When you have a trusted friend or mentor that will support you and motivate you to keep going your persistence will become stronger.
You need strong willpower to focus your thoughts on the achievement of your goals. This will help in the development of your persistence. And finally Hill talks about habit. What he is really saying here is that you need to be consistent and do the right things over and over again.
Maybe you have heard the old saying “if you are persistent you will get it and if you are consistent you will keep it”. Most people want to be consistent in their lives. They know that this is good for running a business, successful investing, supervising employees and in general life skills such as parenting and dieting and exercise.
With consistency you are able to create empowering routines that build momentum. This soon becomes a habit that happens on autopilot. When you are consistent you will stick to the same principles all the time. You will do what you promised to do and people will respect you for being consistent.
When you are consistent you will build a good reputation a lot faster. In the property investment world a good reputation is everything. To succeed with most property strategies you will need a good team to support you. These can be employees, people that you outsource work to or a combination of the two.
All of these people will respect you a lot more if you use a consistent approach. In fact your consistency will set a good example for your team members. A team that has a consistent leader will usually be more productive and have a high morale. So you need to be consistent in your thoughts and actions.
The best way to develop consistency is to establish good routines. A routine is a sequence of actions that you follow regularly in different situations. I don’t want you to concern yourself too much with the word “routine” here. Some of you may be thinking that it sounds very dull and boring. Well it isn’t and having a good daily routine will maximise your chances of success.
I can tell you with total confidence that establishing an empowering daily routine over the last twenty years of running successful businesses has put me firmly on the path to greater productivity, freedom, happiness and the development of my true potential. It will work for you too.
When you have a good daily routine to follow you will take control of your life. It will help you to make decisions easier and faster and prevent you from procrastinating. Once the routine becomes a habit you will wake up every morning feeling in total control. You know what you need to do and you will be motivated to accomplish all of your tasks.
So being consistent will help to develop your persistence even further. The two really go hand in hand.
The Power of Repetition
Repetition is really important for the development of key skills that you will need to succeed in property investment. You may have to change some of your limiting beliefs to be truly successful. The best way to do this is to install a new empowering belief and then use repetition to reinforce it and eventually replace the limiting belief.
Not convinced that repetition is powerful? Well think back to your childhood when you were learning to ride your bike. It seemed impossible to balance on your bike at first didn’t it? But you kept repeating what your parents taught you and soon you were able to ride your bike unassisted.
So, when you want to learn a new skill for your property business you need to use repetition and repeat what you have learned over and over. In no time at all it will be as easy as riding a bike.
By developing persistence and a consistent routine in your daily life you will keep on the right track no matter what obstacles you encounter. If a negative thought enters your head about giving up then you will automatically neutralise this and carry on regardless.