The most successful real estate investors think differently. So how do they think and what success habits can all real estate investors replicate to increase their own performance?
Highly successful real estate investors come from all walks of life, financial backgrounds, levels of education and have widely varying personalities and skill sets. Much has been written on the individual tactics and strategies these individuals have used and the consistent similarities between them. What little has been written on is the thinking habits and characteristics top real estate investors, real estate investing gurus, serial entrepreneurs and business and political leaders have in common. It’s not just about ‘thinking big’ either.
Fortunately, as with sales skills, management, and marketing, successful thinking can be learned and replicated. Perhaps most significantly of all is the high priority these leaders place on thinking. Sadly, the average worker or real estate investor allows themselves to be so consumed with keeping up with the rat race and keeping busy that they neglect real thinking at all.
The most successful investors prioritize thinking above all else. They recognize its value and the superior ROI on time it delivers. Every hour invested in thinking can save hundreds of hours of going in the wrong direction and a lot of dollars.
How much time do you spend thinking each day and each week?
Thinking on the fly to solve problems and structure deals is great, but this isn’t the type of successful thinking which differentiates top performers. Better results require better thinking and more thinking. At a minimum, taking 30 minutes out a day, a day out a week and a week out a year just to think could make a massive difference. It will not only keep the real estate business going in the right direction, but will streamline decision making every day and enable those really big leaps.
As mentioned above, this isn’t just about ‘thinking big’, or ‘bigger.’ This is certainly a part of the reason for the enhanced success of many entrepreneurs, business leaders and real estate pros. Yet, there are many different types of thinking which the most successful engage in. This includes; possibility thinking, shared thinking, reflective thinking, realistic thinking, critical thinking and strategic thinking.
Embracing a full spectrum of thinking enables investors to expand their thinking and benefit from their own best thinking and that of the best minds around. Great thinking is very challenging to achieve with distractions. Investors should find their ideal zones and conditions for great thinking and get there as often as possible. This could be in your home office, in your garden, at the beach, on a nature hike, or whatever enables maximum focus.
However, there is also no question that solitary thinking has its limits too. New input is just as critical to focus, especially with how important innovation is today. With this in mind, real estate investors will find reading, picking up new real estate education courses, networking with new people and getting away to travel can all be powerful.
So take time out to make a thinking schedule. Define your optimal thinking conditions and create them. Ensure multiple types of thinking are regularly engaged. Create a list of thought boosting activities to choose from to spark innovating thinking when you need new input or are struggling to solve a problem.