Hello, hello! JP here, inviting you to step into a time machine for a moment, as we go back to 1977 together.
What’s so special about that year, you ask?
Well, it’s the year Apple Computers, Inc. became incorporated, and the year of the first space shuttle flight. It was also the year that Coneheads debuted on Saturday Night Live.
All (clearly) are significant moments in history and worth noting.
But what I’m talking about was one of the greatest cinematic experiences in history:
The one and only original Star Wars, soon to be followed by the epic sequel, The Empire Strikes Back, a movie that introduced the wise and so-ugly-he’s-cute Yoda, king of “The Force.”
So where am I going with this?
Well, I recently came across an interesting take on some of Yoda’s wisdom and how it relates to entrepreneurship… and what can I say? I was inspired to put my own spin on it for the real estate investing world.
So here goes…
“Train yourself to let go of everything you fear to lose.” – Yoda
Fear of loss. It’s one of the biggest, most insidious success killers for newer investors, hands down.
What is there to be fearful of?
Oh, I don’t know, let’s see…
Fear of losing earnest money, losing a deal, losing big on an investment, totally failing, letting the family down, having friends look at you like you’re crazy…
Fear in the real estate investment business is real — very real.
But simply put… you’ve got to get over it.
Your #1 priority should be kicking your fear of loss right out the door. Otherwise, you’re going to fall short of your potential time and again.
“Patience you must have, my young padawan.” – Yoda
It’s human nature to want instant gratification, but far too many investors want it all now.
And I get it, I really do…
Especially when you first start in this game, it’s near impossible to not set your sights on making it big overnight, on becoming an instant success.
But that’s just not the reality for most of us.
Everyone has a learning curve, and everyone must fight their way through it.
It’s a rite of passage for every investor.
So, focus on the long-term game, not just the short plays, and look at your business as a long-term investment, a career (not just a job), and a way of life, not just a way to make quick money.
“You must unlearn what you have learned.” – Yoda
Most of us learn that it’s better to be safe than sorry.
Almost everyone starts with an operating system that’s programmed to think like an employee or to run a business like a self-employed person rather than a business owner.
But here’s the thing — some of the things that we learn over time aren’t the best lessons. They won’t benefit us or help us grow our businesses in the long run.
So, we’ve got to unlearn them.
But habits die hard, and unlearning what you’ve learned means being fiercely committed to your own ongoing personal development.
“If no mistake have you made, yet losing you are, a different game you should play.” – Yoda
If you’re not winning the game of real estate investment vs. the world, that doesn’t mean you should throw in the towel. Maybe you just need to change your approach.
In the real estate investment arena, there are many games to play, but your game should match your local market opportunities, your strengths, and your interests.
Don’t simply do what others around you are doing to make money.
You’ve got to find your niche, and what works for you, and then you need to be willing to trial-and-error through lots of things along the way.
“Control, control, you must learn control!” – Yoda
For me, this one is about 2 things.
- Planning your day.
- Running your business like a business.
And what exactly does that mean?
Consider your daily planning as an activity that you would pay $1,000 an hour for.
When you plan your day (even if you deviate from that plan), you are in control. You’ve made a statement to that day, and you’ve already had a successful day just by having a plan in place.
So, you’ve got to think of planning your day each morning as the most important thing you can do daily.
Second, the only way to control your business is to consistently dedicate time and effort to running things from the CEO seat. You’ve gotta get your head above the trees regularly to survey the landscape.
Every good business owner does this… and so should you.
“Always pass on what you have learned.” – Yoda
Don’t think of things through a lens of scarcity.
Instead, think of things in terms of abundance and look for opportunities to share what you’ve learned with other people. Pour into other people what you have learned.
One of my favorite made-up terms is “coopetition,” and I warmly invite you to appropriate it yourself.
In short, take your competition and find a way to cooperate with them for everyone’s benefit.
The great Zig Ziglar said it best:
“You will get all you want in life, if you help enough other people get what they want.”
“Difficult to see. Always in motion is the future…” – Yoda
Planning is key, you already know that.
But you can’t plan everything. Sometimes you just have to take things as they come… and that’s cool.
Markets will shift, deals will go sideways, and (sad but true) partners will fail you. These are all realities of the investment business.
But your mission is to ensure that you don’t let these experiences turn you into another victim of “analysis paralysis.”
Learn how to “move with the cheese,” and remember, success in life isn’t about how many times you fall down — it’s how often you get back up again.
“Named must your fear be before banish it you can.” – Yoda
What keeps you from stepping boldly forward?
Get in touch with what’s really stopping you.
Fear isn’t always “false evidence appearing real.” Sometimes it’s legit, and it can be a warning to pay attention to. But you can’t tell the difference if you aren’t committed to discovering what you’re afraid of.
So, take a good, hard look in the mirror, identify and accept your fears, and then conquer them to gain perspective and wisdom from them.
“I can’t believe it.” – Luke “That is why you fail.” – Yoda
The biggest determining factor to your success or failure isn’t the REI tactics or strategies you know. It’s all about your beliefs.
Ask yourself if your beliefs are holding you back and hindering your ultimate success, then commit to uncovering them and eliminating those beliefs forever.
I challenge you to read at least 1 book a month by Jim Rohn, Brian Tracy, Napoleon Hill, and Tony Robbins. 100% guaranteed it will change your life.
“Do or do not. There is no try.” – Yoda
This one is as simple as just doing the thing.
Massive action trumps making mistakes every time. It’s much better to make imperfect progress than to only move forward when you’re likely to perform perfectly.
Done is the new perfect.
Use the Force, Young Jedis
Yoda’s lessons are powerful, and I was surprised to find so many correlations between Yoda’s life lessons and the world of real estate investment.
Use these words of wisdom, take them to heart, and apply them to both your life and your business. They will, without a doubt, help you become a more successful investor and maybe even a smarter, more intuitive, and more productive person and professional.
Thoughts?
We literally can’t wait to hear ‘em. Talk to us in the comments section below.
Pretty please. ❤️
