5 Daily Habits Of Successful Investors
By Paul Esajian on January 6, 2017
In business there is often a fine line between success and disappointment. Getting just a few more offers accepted over the course of the year can completely change the way you view your business. How you make that change is usually predicated on the actions you take. Waking up a little earlier or spending a few minutes a day building your education can be the catalyst needed to turn disappointment into success. Making a change one morning will eventually turn into routine which over time becomes a habit. With the right habits you can maximize your day and have the business you always wanted. Taking that first step isn’t always easy but it is an essential part of changing your daily routine for the better. Here are five daily habits of successful investors.
- Goal Driven. There needs to be a purpose to your day. As a real estate investor you do not punch a clock and sit at a cubicle for 50 hours a week. Instead of working hard for your boss you are the one that will reap the benefits of your success. This alone should drive and motivate you to work as hard as possible. However sometimes hard work is not enough. Not only do you need to work hard but you need to work smart. By making goals and writing down exactly what you need to do and when you need to do it you will get more done. Some of the most successful people in business make lists the night before they go to bed so when they wake up they will hit the ground running. Every day should have a purpose. Making goals will help you be more efficient and get more of the work you really want done.
- Start Early. One of the perks of being in business for yourself is the ability to make your own schedule. As great as it is to sleep in from time to time you should get into the habit of starting your day as early as possible. You don’t necessarily need to get up at the crack of dawn but you should get your day started well before breakfast. The early morning is a perfect time to gather your thoughts and get focused on what you want to tackle that day. You can catch up on your emails, read a real estate related article or write a blog post. It is not a stretch to say that you will get more work done in the hour or so before the rest of the world wakes up than at any other point in your day. One extra hour in the morning equals twenty to thirty hours extra every month. What do you think you can do with thirty extra hours?
- Nights And Weekends. The real estate investing business doesn’t follow traditional work hours. If you come from an office job this can be a difficult adjustment to make. It is important to recognize that you need to be on call and ready to work whenever opportunity presents itself. Even if there isn’t anything pressing you should expand your work zone to nights and weekends. Winding down for the day and recharging your battery is important but you also need to keep your work momentum going when there is opportunity. There is always time to catch up on your favorite show or watch the latest movie. There may not be another chance to secure a new deal. The reality is that you do not need to spend your entire weekend working to have an impact. Spending just a few hours at open houses on the weekend is often enough to generate a handful of new contacts. Working hard is not about sitting down in front of a computer for hours on end. It is about working when nobody else wants to. Working nights and weekends is a great habit to get into.
- Daily Education. Most people have heard the old saying that you learn something new every day. Instead of learning something new by default you should make a point of it. You should find 45 minutes every day to devote to improving your education. This can be done through a specific online course or simply reading about the business online. Your business is your trade and you can’t afford to lag behind your competition. Not only does improved education help with learning the business but it can also be an important lead generation tool. People like to work with others they feel know and understand the business. By being educated on a new niche you can carry conversations better with people your network. You are never too busy to improve your education.
- Embrace Technology. The increase in technology over the past decade is truly amazing. Technology has allowed people in business to work harder and smarter than ever before. If you are not using technology to your advantage you may be making your life more difficult. There should be a part of every day that is spent researching if there is a better way to do business. Taking advantage of a new application, program or mobile device can help you become more efficient and also make your life easier. Instead of ignoring technology you should embrace it and make it part of your day.
The habits you make during your day define you and your business. Change your day by incorporating these five habits into your daily routine.