Wishing you a Happy Independence Day, I wish you would never stop getting better! Successes usually episode for year…
Wishing you a Happy Independence Day, I wish you would never stop getting better!
Successes for the most part ????
https://www.biggerpockets.com/blog/biggerpockets-podcast-432-brandon-and-david
An episode for the new 2021 that came upon us very well, this time the discussion was not with a specific interviewee but simply a conversation between Brandon and David.
Brandon and David, both millionaires, both hanging out and talking to a lot of other millionaires, have tried to actually distill the character and habits they have in common and all those they know.
For them, it should be noted, being a millionaire is not a matter of having $ 1,000,000 in a bank / worth, no, but it is a matter of being truly free and not limited in our doing and abilities. Both in terms of the financial and existential aspect, as a means of enabling, but also in terms of our ability not to limit ourselves in our thinking, happiness, doing and in fact this perception touches all walks of life-
Happiness, relationships, fitness, nutrition, general economic management, studies, etc., etc.
Both agreed on mainly 4 main habits and patterns, repeated by all the millionaires and successful people they know:
1. Be * decisive *:
- Be decisive and know how to make decisions quickly
- These do not have to be the best decisions, it is important to know here "to fail fast" and change directions quickly, learn from our mistakes and try more and more
- They recommend practicing it as stated in all walks of life - in deciding where to go out, in deciding what to order in a restaurant, in deciding which movie to watch today, after all, the goal is to make it a habit
- Connecting to real estate - Those who do not make quick decisions miss opportunities
Missing out on assets because we made a decision that was too slow and submitted bids too late
- Missing contractor that we trust / that we really wanted to work with
- Failure to obtain good financing terms because the investor has invested money elsewhere or the lenders can not close fast enough until we decide to contact them after we have already been in the contract
2. Build * momentum *:
- Think of it as a train that starts a journey
- From a rest position at first it progresses slowly, you can walk next to it along the platform and bypass it + it is still possible to brake it easily and relatively quickly
- It keeps accelerating, at a faster or lesser pace but the engines keep doing what needs to be done, over and over and over again, and slowly it is gaining speed
- Slowly it reaches a speed that is difficult to overtake even with a car and stopping it is already much more difficult
- Think of a plane taking off
- At first he has to give Paul power and the pilots still have to be in manual control and fully alert to what is happening
- Just like the train in the end the engines of the plane continue to operate consistently and accelerate the plane
The take-off stage is the stage where the engines make the most effort and invest the most energy, but after a certain period of time, after the plane has reached cruising altitude, the pilots switch to autopilot, the plane flies itself, and the energy the engines invest much less than the initial effort
- Both the train and the plane slowly gained * momentum *, both were easy to stop at first, but after gaining momentum the glue is much harder and both are able to do much more and much easier
- The train can reach much greater speeds gradually
- The plane that initially only tried to move forward can take off and ascend in altitude
- Once we have reached cruising altitude and switched to autopilot, staying in the current state requires much less attention, operation and effort
- An outgrowth of this means that even breaking new boundaries requires less and less effort, after all we start with one momentum already.
- Connection to reality - at first all the beginnings are difficult and challenging, but systematic repetition, about the deeds to be done, and the adherence to perseverance will bring us in every field and every action to a situation where everything is easier, especially after reaching cruising altitude and now autopilot does most of the work
- Going from longevity without regular exercise at all to regular training does not happen in a day or two, but after we have * momentum * we can increase and increase (we will start with one workout a week, I put it easy we will move to 2, then to 3, then to 4 and then increase intensity etc. and so)
Starting a new business is not easy and involves birth cords, but when we reach the stage of "there is a system" that works for us and works well, we can switch to an autopilot that requires much less attention and energy from us for the proper functioning of the business.
** Author's note - which allows us more time and convenience to invest in _the_ business_ rather than _the_ business_ and continue to soar to new heights ????
- According to the good company here, a lot of people generate momentum but fall and give up when it's hard, sometimes just before the plane reaches the speed of takeoff or just before we reach cruising speed.
Persistence, repetitiveness, making sure to do the necessary things over and over, understand that it takes time, but that success is guaranteed, in any field, * for the persistent *
- Connection to real estate-
- Until we find the best realtors - bidding can be a Sisyphean process, long and without results
- Numerically poor deals / our search terms
Sellers who will not agree to our terms
Weak and inconsistent deal flow
- After we find our good brokers we will win (in my opinion) those who will bring us good deals in advance (which are more suitable and accurate for our search conditions), that deals will flow relatively regularly, and greater success in receiving our offers from the sellers
- Until we find reliable and good contractors - we will receive incorrect quotes, organizing projects, performing at a low level and more and more
- Once we find our good and reliable contractors we can potentially carry out larger projects, on larger numerical scales, and hermetically with good field execution throughout many projects
- Once we have a local cannon team in general we can find better deals, that we will have more lucrative and that their management will be much simpler for us ????
3. * Tracking *:
- Successful people monitor and monitor their progress, their abilities and their improvement
- From personal / household budget, to performing their tasks in the short to long term, to books they have read and to the time they have devoted to friends and family
- Continuous follow-up and monitoring produces a true picture of what our lives look like
Ongoing monitoring will help us identify the gaps between planning and execution more efficiently and quickly, allowing us to "make mistakes faster" and correct the direction of progress if necessary.
- Other areas of life that can be followed:
- Progress in our training (pay attention to the bodybuilders and professional PowerLifters who always walk around with notebooks and document work weights, etc.)
- Progress in some of the tasks we set for ourselves and met
- Progress in our compliance with the times
- Progress in the free money we left to invest at the end of the month and more and more
- Connection to real estate:
- Some suggestions we made this week
- How many relationships we created this week
- Some transactions we analyzed
- How much time have we invested in networking
- How much time we invested in learning and enrichment
- And like these, as mentioned, persistence in the necessary activities that will make the impact over time will ultimately bring results and success in the field ("Real estate is easy, Real estate is fun" anyone? ????)
4. Develop * expertise *:
- Repetition of the required actions, identifying patterns and optimizing them continuously and continuously over time in our * specific * niche
- Author's note - from my point of view most successful business people in the world did not reach their success because they were good at everything and gave service to everyone, but because they were really good / brought product / execution in the field of business strategy in a really really good way towards a very specific market share, only then developed And expanded
Elon Musk also did not start from a situation in which he is the manager and owner of several companies in full force
Neither Google nor Amazon have started in a situation where they have touched so many markets, services and products
- Focusing on a specific niche, sometimes also better for a very specific target audience, repeating it, focusing on what can always be streamlined, focusing on what can always be better in it - we will commit to continuous improvement (continuous improvement as Tony Robbins calls it), the goal is all Day is a small improvement, being every day a slightly better version than yesterday, a lot of small improvements become a change and big advances!
- Connection to life:
- Improve any training in our ability (run a little faster, a little farther, lift a little more work weights, etc.)
- Improve every week the amount of tasks we set and meet
- Get better every week while we spend with our loved ones and with the real attention that we are truly present in the experience with them
- Get better every week with the amount of events we have reached in time
- Did you understand the passage ????
- Connection to real estate:
- Improve each week the amount of transactions we analyze and the amount of bids we submit
- Improve from week to week in our negotiation skills
- Improve from week to week in the synchronization and management of our local team
- and more and more and more ????
For me on a personal level this is one of the best podcasts I have listened to recently and in my opinion in general.
In my opinion everyone who wants to succeed in life should try to apply at least some of these things (and gain momentum along the way by adhering to more and more of the habits presented here), and it is really not limited to business success in any way or form - family success, relationship success, academic success, Success in our lifestyle and in lots of other areas, these habits will help success in all.
I will add that once we do not limit ourselves to the application of these _values_ only to professional life, rather we will even invest more in them in the rest of our lives, these will become a habit and will make us in general better as human beings.
I always say that excellence and success are not qualities that are expressed only in a single act but in the habits and standards we set for ourselves in all areas of life - the more careful we are to be successful in as many areas of our doing and being then we will be truly committed to continuous self-improvement. ???
You can also experience the full podcast on the site of the specific episode:
https://www.biggerpockets.com/blog/biggerpockets-podcast-432-brandon-and-david
Pleasant listening!
Who does not want to be a millionaire? In this episode, learn exactly what it takes and how to get there — straight from two guys who have done it.
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