With the tightening of lending regulations these days, a lot of investors think that their money or the budget is the biggest thing holding them back from finding a great investment.
As a buyers agent I get to talk to a lot of investors and in my experience this is rarely the real reason.
So what is the single biggest factor that stops people investing successfully in the marketplace? After all, we all have the same amount of time in a day, but some of us seem to get ahead much further than others with the same resources, and sometimes less time.
While a lot of people put it down to not having enough money, or not being able to find the right property in the right area, most of the time it comes back to mindset – it comes back to how we think and more times than not, it’s a question of fear.
Fear that stops most of us from really taking action in the first place and to be more accurate – a fear of failure.
It’s the fear of making a mistake, potentially looking like a bit of a fool in front of our friends, or even losing money and hurting us financially.
Ultimately it’s this fear that stops us from taking action where others would otherwise move forward, make the mistakes, gain a little bit of experience, knowledge, and move on and grow.
Here’s the video:
So how can we overcome this fear and feel like we have the courage to get out there and make it happen?
A great tool that I’ve used personally was taught to me by Alan Parker, a great negotiator and mediator.
Alan’s advice was to try taking everything as an “experiment”! When you look at making a decision, imagine that it’s one of many options you may end up trying.
What running an experiment does is it actually takes the pressure off you to have to make such a perfect decision on each and every decision you make. It gives you the freedom to be able to just let loose a little bit and see how things go.
And you know what? If it doesn’t work out, that’s okay, you can run another experiment.
You’re not looking for THE solution, you’re just looking for A solution.
What this change of mindset does is it enables you to take the first step, to really get out there and take some action, move forward, get some experience, and whether it goes right or wrong, at least you can learn from it, move on and make gains.
So, if you’ve been looking at a lot of tasks on your to-do list from the New Year, and you haven’t really found the nerve to tackle them yet, try taking each one as an experiment and just run with it. See how things go, and remember, you’re not looking for THE solution, you’re just looking for A solution.
The important thing is to move forward and make some ground.