I often look back over the things that I have achieved with my property business and the freedom that it has brought me. This motivates me to do more and I strongly recommend that you do the same.
There have been a number of tough decisions that I have had to make, and I have been in some difficult situations in the past where it was difficult to see a way forward. I had to move outside of my comfort zone to overcome a lot of obstacles, and this gives me a great sense of satisfaction.
With all of this self reflection I quickly realised that one thing stood out which contributed to my success more than anything else:
I took action!
It’s important that you set goals, and if you haven’t read my post on this you can see it here. You also need a plan for your property business. But a lot of people spend too much time planning and not enough taking action. The best plan in the world will not make you successful and provide the freedom that you desire. You have to take action.
Why do Property Business Owners fail to take action?
If you don’t take action then you will hold yourself back from succeeding. The most common reason why property business owners don’t take action is fear. This is especially true if you are new to the property investment business. I remember when I was just starting out that I was fearful of making certain decisions.
This is irrational fear. Fear is a designed to protect you from danger. It stops you jumping off of tall buildings and doing other life threatening things. But being fearful of taking on a large mortgage to purchase the property that you want is not life threatening. You need to overcome this irrational fear and take action regardless.
Fear of failure is a big issue for a lot of people. They become indecisive because they are concerned that they will make the wrong decision and fail. These people believe that if they spend more time thinking through the options then they will make the right decision. This can work sometimes, but in many cases it will paralyse you and you won’t take any action.
Let’s get real here for a moment. You are going to make mistakes in your property business. I did and so did everyone else. Not taking action is the biggest mistake you can make. If you take action and things don’t turn out quite as you planned then you can learn from this. If you don’t take any action you will just become even more indecisive.
So what can you do to take more action and be more decisive? Well I am going to share with you the techniques that I have employed over the years to become a real action taker. I urge you to use these techniques to develop an action taker mentality for yourself:
1. Taking Action will Motivate you to do more
Some people may find this strange at first. Surely you need to create the motivation first and then take the action? Well I have found that when I start my day by completing the simplest of tasks it creates an adrenaline rush within me that spurs me on to do more.
I prepare a list of tasks at the end of each day for the following day. I will start working on the simplest tasks first. Now you may have been told to work on the most difficult tasks first, but that never worked for me. By knocking off the simple tasks first you will build up the momentum and the motivation that you need to complete the more challenging tasks.
You need to start straight away. Set aside specific times during the day that you will deal with emails and other distractions. All successful people make a fast start and work through their “to do” list so that they get things done. Avoid distractions as much as you can. You will never be successful if you waste a lot of time checking your Facebook news feed.
2. Keep your “Why” uppermost in your mind
If you don’t know how to create a strong and motivating “Why” then please read my post on this here. Your “Why” defines the reason for you having a property business in the first place, and you need to stay in touch with it. This will definitely help you to take more action.
There will be some days where you just don’t feel like taking action. It happens to all of us. Nobody knows exactly why this happens but it does. When you are in this kind of mood get out your “Why” statement and read it a few times to yourself. You will feel a lot better for doing this and it will motivate you to take action.
3. Control your Thoughts
Don’t let that negative inner voice in your head paralyse you and prevent you from taking action. We all have negative thoughts from time to time, and the best way to deal with these is to neutralise them with positive thoughts.
So if you experience a thought that says “this property is going to be a disaster” then counter this with “I am going to make a lot of money from this property”. I am sure that you get the idea. Never let your inner voice hold you back. If you keep listening to this “inner critic” then you will severely limit your chances of success.
You need to be in control of your thoughts. Dismiss those negative thoughts as ludicrous. Read your “Why” statement to refocus and spur you into action. Take action regardless of what your annoying inner critic tells you. Tell yourself that you are great every day and that you will succeed. This will make you feel really great and powerful.
4. Work the Plan
So you have decided on your goals and created a plan. Now you need to work the plan. Break down different elements of your plan into daily tasks. If your plan is not working then you can make changes to it. You will not know this until you start taking daily action.
I have implemented a very effective quarterly action planning process in my property business which you can read about here. When you have a plan in place that you are acting against you will feel in control, and confident of achieving your goals.
5. Treat every Problem as an Opportunity
You are going to face a number of challenges on your freedom via property journey. I have been in the business for many years and the challenges keep on coming. If you treat every challenge as an opportunity to move out of your comfort zone and grow, you will be a lot more inclined to take action.
When you encounter an obstacle and this is potentially preventing you from moving forward ask yourself this question:
“What will I miss out on by not overcoming this obstacle?”
This will give you the motivation to overcome the problem. The more that you do this the easier it will be to overcome challenges. Every problem is an opportunity for you to grow so grab the chance with both hands!
6. Get Organised
How well organised are you? Do you know where all of the important files and documents that you need to make decisions are? Is your computer well organised to make finding things really easy?
I don’t have a magic potion here for making you well organised. All I can say is that if you can’t find something that you need in order to take action, it is going to prevent you from taking that action.
Have an organised filing system for all of those important documents. Don’t just put things anywhere and everywhere. Have a good folder system on your computer too so that you can quickly access what you need.
I create a list of tasks for the following day and this works well for me. Find a method that works well for you and stick with it. The more that you delay taking action each day the more likely you are to not take much action at all.