Planning is, without question, the backbone of real estate success. Whether it is a business plan or a subsequent marketing strategy, investors should never rush in without knowing what they are doing. There is, however, something that is as equally as important as planning, if not complimentary: taking action. Your plans must lead to taking action. Declaring that you are going to do something isn’t enough. Far too many investors have great ideas that never come to fruition. It is those that are willing to take the next step that separate themselves from the pack. Whether you are paralyzed by fear or aren’t exactly sure where to start, there are things you can do to get the ball rolling. Here are four easy steps that will put your plans into action, and help your business grow:
1. Start immediately: People have a tendency to wait for “the best time” to get started on new projects. We have all heard of the person who waits to start their diet on a Monday, or to make a big life change after the New Year. Truth be told, there is never a perfect time to take action. By waiting until everything lines up perfectly in your business, all you are doing is procrastinating. The best way to take action is to start as soon as your plan is mapped out. Typically, the quicker you act, the more likely you will take sustainable action. The longer you wait, the more holes you start to find – either with your plan or the idea itself. Just like there is never a perfect time to act, there is no such thing as a perfect plan. Every person you talk to will tell you why you can’t do something, or should at least do things a different way. As long as you are comfortable with your plan and have researched it properly, get started right away. The quicker you start, the more likely you will be successful.
2. Create a roadmap: Along your with your commitment to get started, you need to create a plan of attack. Start by asking yourself as many questions as possible. Who do you need to have on your team? What is your ultimate goal? When are you going to act? What do you need to be successful?
There are always going to be roadblocks. Knowing any potential issues before you start will help if you encounter them down the road. Write down everyone you need to assemble on your team, what their roles will be, and how much you plan on spending. It is important that leave no stone overturned before you get going. You want to put your head down and go as soon as you get started.
3. Set a firm schedule: After you have an idea of what you want to do and who you need to do it, you are ready to put the wheels in motion. You need to set firm dates and timelines for every action you want to take. This will help whether you are trying to get your first deal or setting up a new direct mail campaign. By knowing that you need to email 100 new people on Tuesday, you can adjust the rest of your schedule accordingly. Set the times and days that you want to devote to a plan and go from there.
4. Regroup: You need to assess where you are on a daily basis. Before you go to bed at night, think about what you did that day to accomplish your goals. If you followed your schedule, you should be happy with your progress. As great as this is, there is always tomorrow. Take a look at what you did well and which areas you may need to improve on. In taking stock of where you are and what you need to do, you give yourself the best chance at realizing success. Write down everything that you need to get done at night so that when you wake up you can hit the ground running. Every day in the real estate world is a new battle that can present problems. There will be days when things don’t go your way, but tomorrow is always a new day.
The biggest difference between successful investors and those that struggle are the actions they take. Successful investors are willing to put themselves out there and do the things that others either don’t want to or can’t do. Turning plans into actions doesn’t take any special education or knowledge of the market, but it is necessary nonetheless. This is something anyone can do, as long as they have a plan and are willing to follow through with it.