July 11, 2012 in Investing In Real Estate
What do you do when you just can’t seem to get any momentum going; when you are still struggling to close your first deal?
Does this sound like you? You are working so hard in your real estate business, but you’re getting nowhere. It’s kind of like a puzzle. You have a whole bunch of pieces that you just can’t seem to fit together property so the whole picture comes together.
Whenever I have been asked about this problem, my answer is always the same; “You need to slow down and regroup. Re-charge and get your focus back”. It may be that you even need to take some time off. This is in fact the same talk I have with myself from time to time.
What do I mean by this? You know the old saying “You can’t see the forest for the trees”? It’s easy to get so caught up in what you are doing, racing through each day doing “stuff” that you look up and find that you are completely off track; you have completely lost your focus.
3 Steps You Can Take to Get Back On Track
1. Begin with the end in mind. Look at your goals each day. You should have no more than 3-5 big goals for the entire year. You want to nail them, and you can’t do that if you have a list a mile long.
2. Get control of your time. Use time blocking each and every day to get those important tayou have a list a mile long.
3. Plan tomorrow before you leave the office today. Pick out those 3 or 4 tasks that are the obvious next steps necessary to lead you closer to your goal. You know the ones; the ones that will also ultimately be responsible for that increase in your income. These are your priorities. Work only on these tasks that day.sks completed the first thing in the morning. Block out the first two or three hours of the day and go to work before you answer a phone call, look at email or allow any other distractions to get in the way. You will find that those first few hours will be the most productive time of the whole day. I like to set the timer on my phone to help keep me accountable.
Know What Your Number One Task IS As a Beginning Real Estate Investor
Marketing is the number one task you need to get done no matter what. Spend AT LEAST two hours every day marketing for deals. (It’s OK if you do some of these hours on the weekend).
Here are three truths that apply to marketing:
- Without a steady stream of leads, you will be out business before you ever get started.
- You must focus on providing a memorable customer experience. By simply calling folks back in a timely manner and really listening to what they have to say, you can be a standout in any market. What problem do they really need you to solve? It’s rarely just about the money.
- Don’t worry about being new. Just be cheerful, speak with confidence and the rest will take care of itself.
Put Together a Simple Marketing Plan
It doesn’t have to be a complex plan, but you definitely need a marketing plan no matter what level you are at. But it is really crucial when you’re just starting out. If you still have a 9 to 5 job you will need to set aside definite times to work on your real estate business. Once you have decided on a few marketing strategies, set up a schedule for getting them done and just go to work.
I am a very visual person. This is what I do, and it is also what I recommend you do. Get one of those big wall hanging calendars at one of office supply stores, and plan your marketing for the upcoming month. That way, if “life gets in the way” one week, you can immediately see where you left off and get back on track. Remember that consistent baby steps will still get you to your destination; it will just take a little longer.
Last But Not Least…
Don’t give up! Real estate investing is like most other things, it just takes time and persistence to succeed. Work on your mindset while you work on your business. Look at those things that inevitably come up as “challenges” rather than “problems”. You may be called a real estate investor, but what you really are is a problem solver. Get good at solving problems and you will be successful in this business. Real estate investing is really pretty simple, but it’s not always easy.
When you are struggling, remember that your first deal is right around the corner!