One of the biggest hurdles with property investors and something that holds back a lot of my prospective clients, is failure to take action.
Taking action is defined as doing something in order to get a particular result.
This involves becoming active, presumably from a state of inaction.
Taking action should be differentiated from ‘being in motion’. Any of us can spin our wheels and ‘do things’ that don’t actually get us anywhere, much less get us where we want to go.
That’s why to take action effectively, we should keep in mind some key goal setting, planning, and motivation tips.
What, Why, How, Who, When…
What exactly is your goal? Clearly define your goal.
Why are you pursuing this goal? Why does it matter to you? What will achieving this goal do for you?
How will you achieve this goal? What are the action steps that you’ll need to take to reach the goal? Do you have the skills to take these actions? How will you do what you need to do?
Who is involved in this goal? Who has acquired the skills to fill in your knowledge gaps that can help you achieve this goal?
When will you pursue this goal?
Do you have the time to work on the goal?
What specific times will you work on it?
Do you need to procure assistance to allow you to pursue this goal immediately?
Fear of the unknown is a huge hurdle that may get in the way of allowing you to achieve your property investing goals.
Knowledge can build confidence and minimise the negative affects of fear.
There is a lot of fear surrounding the state of the market, will my property grow in value, will I lose money, am I making the right decision.
When you take a step back and look at the long term historical trend of growth in the property market, this should help ease any fears surrounding the legitimacy of a long term property investment strategy.
Define your goals, understand the steps to achieve them, build your team of professionals to ensure your chances of achieving your goal and take action steps.
Remember, property investing is a long term game. It’s a get rich slowly strategy!
Do you need some help defining your action steps? Reach out if you would like some help setting your property investment goals
