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Real Estate Investing – Trying to Improve Weaknesses and Building an Empire
You may have read that title and thought what in the world is wrong with trying to improve my weaknesses and wanting to make a lot of money by building a real estate investing empire? Read on fellow investor and reflect on what I’m about to share. A big mistake that a lot of real estate investors make, and in fact a lot of entrepreneurs and just people for that matter make is they try and improve their weaknesses when instead they need to be improving their strengths.
I learned this mindset from a mentor of mine, Dr. John C. Maxwell, a very well-known leadership coach. If you focus on trying to improve your weaknesses, and if you’re really bad at something, then you are only going to go from really bad to bad. If on a scale of one to ten you’re bad and you’re a two, you’re going to go from a two to maybe a four. I mean, how is that going to help you in your business?
Now focus on the strengths side. If you’re good at something or even average at something, you’re going to go from average to good or from good to great. And again, on a scale of one to ten, if you’re a six you might be able to go from a six to an eight or nine.
So, it really does make logical sense if you think about it: If you’re good at something, focus on getting better at what you’re already good at. If you’re bad at something, stop trying to try to get better at something you’re already bad at, because you’re just going to waste time, money and energy and that’s only going to bring you down. So, focus on improving your strengths, not trying to improve your weaknesses. Identify what in your business you are really good at doing, build on that and then find someone who is good at the things you know are your weaknesses therefore, growing your business.
This leads directly into my next point, which is a lot of real estate investors try to build an empire before worrying about today’s cash flow needs. I remember when I first got into this business and how excited and passionate I felt. I was so green, I was so full of energy that I could not wait to build my empire and be like Donald Trump.
You lose sight of what’s really important on how to get there, and if you don’t take care of today’s needs and the bills that you’ve got to pay this month, then how are you going to be able to get there and create this massive empire?
So, when you run your business, the deals that you pursue need to be able to get you from month to month, quarter to quarter or year to year. And as the deals that you are doing are generating the cash flow that you need to survive on a regular basis, then you can start worrying about getting wealthy once you’ve built up some money in the bank account and you’ve got some cushion and you can start to explore and expand your comfort zone a little bit.
Don’t get wealthy before you get rich. You want to get rich before you get wealthy. You want to have money in the bank, you want to have liquid cash that you can fall back on before you worry about having this empire of properties that you have in your portfolio.
So, really you need to prioritize what’s important. I’m not telling you not to focus on the big picture of generating an empire, but I am telling you that if you want to get there, you’ve got to generate cash and worry about today’s cash flow needs rather than worry about tomorrow’s empire of wealth. Focus on your strengths in building your cash flow, then start expanding and go for the gold.
Now, let’s get started by reviewing the following tools and begin the foundation for your investing empire. Go here: www.freemakemoneygift.com/Invitation.html
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