A couple of Sunday’s ago was the Super Bowl. That’s always a lesson in disappointment, because it’s a sure bet someone’s gonna be disappointed that his team didn’t win.
That brings me to the point of this week’s installment of the Cashflow Corner newsletter. How do you handle disappointments in business and in life, and not let them freeze you up from moving forward?
Listen, I’ve had to handle lots of disappointments in my business and my life. For me, praying helps. That plus taking action steps to move myself forward is how I’ve gotten through some of the biggest disappointments, and chances are that’s how I’ll get through disappointments in the future.
Here’s an undeniable truth. People will disappoint you through their decisions and actions. It’s a part of life. You can’t let anything others say or do keep you from moving toward your goals.
What if I had let the actions of a shady property manager stop me from my quest to invest? This man bamboozled me to the tune of something in the neighborhood of $800K. His actions caused devastating effects that trickled down through my organization. You better believe that I got down on my knees and prayed for strength to handle not only the disappointment I felt when I learned what this man was doing and for all I would have to do to dig out of the problems his actions caused.
The point is that I got through that experience and still moved forward in my goals of Real Estate Investing. Because of that, I know I can get through literally any disappointment. So can you. It’s a matter of changing your mindset and believing that you can achieve the goals you’ve set forth.
Here’s the deal….
Don’t ever let emotions (yours or those of the people you surround yourself with) rule your decisions. In business and in life you have to make decisions based on logical lines of thought. Knee-jerk reactions will never produce a positive outcome. At least I’ve never seen it happen.
Use your words.
A lot of disappointments can be avoided if you have a clear understanding of all aspects of what’s going on in your business and in your relationships with the people in your life. Keep an eye on your property managers, your employees and assistants, your deals as well as the people who handle the financial and contractual parts.
Have no single points of failure. That way, if one property manager ends up being wrong for the job, you have someone else who can step up to the plate. If one member of your team ends up being wrong for a job, you have a back-up plan.
I talk about this in depth in my book.
If you haven’t read it yet, you’ll want to. There’s a section devoted just to the questions to ask property managers. There’s another whole chapter devoted to the people you want to bring onto your team to help you reach your goals. The part about not having a single point of failure is covered there, too!
Until next time,
P.S. Have you checked out our new CORE Membership yet? There are more than 200 hours of video training and courses inside, as well as lots of tools to help you raise private capital for your deals. There are also forms you’ll need to get deals done! Be sure to browse www.cashflowdiary.com/training!