KISS Keep It Simple Stupid. Paralysis by Analysis Kills Progress.
Starting a business in real estate – or any type of business, for that matter, ain’t easy. It may seem that the more you plan, the more goals you set, and the more you fine tune your plan, the better off you’ll be. Eeeeehhhh (wrong answer buzzer). Think again. The key is to keep it simple. Don’t get your panties all in a bunch worrying about every detail. KISS Keep it Simple Stupid means to simplify your plans and goals, and stick to them. Whether you’re looking for success in the real estate biz, trying to lose a bunch of weight, or just trying to achieve success however you define it – you need to listen-up.
Reality Check 1, Check 2…
You told yourself you’d lose 20 lbs, and ya didn’t. You said you’d be retired by 40, and that’s just hilarious. You promised your wife you’d stop watching sports with your hand 1/2 way down your pants (but it’s so warm and cozy down there). None of it has happened. So maybe it’s time to face the facts. Realistic goal setting isn’t your forte, so perhaps it’s time to have a come to Jesus with yourself. Its time for a reality check. Pour yourself a cold one, kick your feet up, look in the mirror, and ask yourself:
- is our list of goals longer than OJ’s criminal record?
- do you wake up in a panic and rush to get things done then say “if I just had 4 more hours in the day”?
- have you stopped enjoying what you do?
- do you feel scattered and unable to finish one project at a time?
- do you find that you’re consistently not meeting your goals?
Look, its no secret that I’m a fat guy. For years I’ve lived under the guiding theory that I’m just big-boned. Facing up to the cold hard facts of “fatness” a few times in my life, my belt-size has gone up & down more times than Luther Vandross’. Who did ya like better? I know I loved me some fat, sweaty Lutha’. Right now, I’m on a quest to lose 60 pounds. This beginning period is just like starting a new real estate investing business or any business for that matter.
Suppose I spent my time and action getting prepared for weight loss. Suppose my days were spent going to Dicks to make sure I has the right work-out gear and testing out the perfect running shoe. Suppose I spent a few weeks reading inspirational books on weight loss. Suppose I then spent another few weeks putting together meal plans and sorting the ingredients in those plans down to the aisle locations in the grocery store so that I could optimise my time when shopping.
Have a lost a pound yet, people? Have a lost a whole bunch of time? In the case above I was completely stricken with Paralysis by Analysis. And trust me, I see this all the time with new and experienced investors and entrepreneurs!
Lots of Action vs. Money Making Results
If any of this rings true with you. If you’re more into making business cards, and thinking up a killer name for your LLC for real estate and website, you ain’t making money! If you’re more into making slogans and T-shirts, you are making action, yet these actions are not producing money making results! You’re spending money and wasting time!
Tear up the old objective list. Burn it, use it as toilet paper, don’t even look at it. Run! Create a realistic list of short-term goals that will lead to long-term success. Set a big goal (like me losing 60 lbs), then make 5 small goals that lead directly to the big goal. Once you hit those 5 goals…pick 5 more.
If you want to make $1 million bucks flipping houses, making a website and an LLC is the least of your worries. Trust me with this! If I want to lose 60 lbs, a pair of running shoes is the very least of my worries when I have a dusty pair already in the closet.
How to Be a Smart Investor
Here’s the difference between you and “them” (or at least it soon will be, right?) – “they” are always reinventing the wheel, back-tracking, planning and re-planning, and just flat out spinning their wheels. Point is, the average entrepreneur is always wondering “what’s the next shiny object that’s gonna catch my eye?” The average investor is constantly changing his plans based on what someone else is doing. They don’t work with blind confidence and laser-like focus.
But that won’t be you. Ohhhhhhh no, that won’t be you! You want to know how to be a smart investor! You’ve got the eye of the tiger, baby, and you’re gonna figure out how to cover all your bases…and then some…by doing the least amount of work. How is this possible, you ask? Narrow down your objectives, break your big goal into ACTIONABLE chunks of little goals that are absolutely necessary for you to reach your big goal. Eliminate the fluff, don’t spin your wheels on rabbit trails that lead to no money, and get to doing ONLY those important things that lead to directly to your goal.