10 Keys to Investing Success in the New Year, Part 2

Posted by on Jan 6, 2014 in Blog | 0 comments

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In part one of this series, I discussed the first 5 essentials to achieving greater success in the New Year.  These include setting ambitious goals, writing those goals down, consistently marketing your business, thinking positively, and staying away from negative people.  And while this is certainly not an exhaustive list, below you will find the next 5 keys to taking your real estate business to the next level in the coming year.  I hope you enjoy!

Business Books6.) Read Books – Charlie “Tremendous” Jones once said, “The only difference between where you are today, and where you’ll be a year from today, are the books you read and the people you meet.”  My goal this year is to read one spiritual book and one business book each month, along with my other reading (Bible, devotions, blogs, etc.).   While most of us may not be in formal school any longer, our education never ends.  The moment people stop growing and learning, is the moment they start dying.

7.) Network with Influential People – The second half of Charlie’s admonition was in regards to the “people you meet.”  Most of my real estate leads come from a few “influencers” and “lead sources” that I have connected with over the past few years.  I have been involved in joint ventures on multiple properties in the last couple of years, earning me a great deal of money, due in large part to the strategic relationships that I took the time to build with other investors.  If you want to see great success in the coming year, you must look for opportunities to network with influential people, and create win/win relationships in which both sides benefit from the connection.

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8.) Find a Mentor – Book smarts are great.  Street smarts are better.  I’ve had numerous job applicants in my company who have proudly touted “marketing degrees”, but it quickly became apparent that they didn’t know the first thing about marketing. Thousands of people pass the real estate licensing course every year, and yet don’t know jack squat about selling a house.  Earning a degree or a designation is certainly something to be proud of, but it doesn’t mean you know anything about real world business.  The best way to learn any skill or trade is to sit under someone who is currently doing it, and learn from their successes and failures.

9.) Fail a few times…and then GET BACK UP! –We’d like to think that we will learn EVERYTHING from a mentor, and never make our own mistakes, but that’s never howpick-yourself-up it works.  However, as long as you don’t put yourself in a position to make a fatal mistake, failures are some of the best learning experiences for aspiring entrepreneurs.  I learned a lot more about myself and my business during the recent recession, than I ever did during the boom years of 2005-2007.  The changes I made as a result of those lessons left my real estate investing business much better equipped to take advantage of any potential down turns in the market, and to make outrageous profits when times are good.

10.) Work Hard – Tim Notke is noted as saying, “Hard work beats talent when talent doesn’t work hard.”  No matter how many ways you slice, the ultimate key to success in the New Year is just plain, old-fashioned, bare-knuckles, down-in-the-trenches hard work.  I have yet to find a replacement for it, though I have certainly tried.  In the end, it’s those who put forth the consistent effort (even when they don’t feel like it) that always seem to win.

Well, there you have it…the recipe to truly having a HAPPY NEW YEAR.  If you put these 10 keys into practice over the next 12 months, I can almost guarantee you will be in a better place at the beginning of next year than you are today.  However, no one can do it for you.  You have to decide to make this year a great one…and I hope for your sake that you do!

I’d love to hear some of your advice for succeeding in the New Year.  Let us know in the comments section below!

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