Are you looking to grow your business or are your just starting a new business? These five habits will help you be successful in your career, whatever it may be.
I use these five habits in my real estate investing career and it has improved my business greatly. Real estate investing can create great wealth, but you need to know what you are doing. There are many ways to go about investing in real estate, but you need to find the best way for you to be successful.
In this article I will go over what makes a real estate investor successful, but these five habits can make anyone successful in their career.
I would like to take a second and encourage you to check out my book ”Anyone Can Invest In Real Estate” for sale on Amazon. My book will give you all the detailed information you need to start a career in real estate investing and maximize your income.
Whether you are already making money in real estate or you are just getting started these five habits will turn you into a successful real estate investor.
- Keep Educating Yourself
You can never know enough. You can always learn more. The more you know the better you will be. The more you learn the more successful you will be and the more profit you will generate.
Don’t ever feel like you know enough to get by. If you are serious about real estate investing as a career, then you need to put the extra effort in. You must continue learning and educating yourself to be more successful and ultimately make more money.
There are new strategies, loan products, software and ideas being generating all the time. Don’t get so arrogant and stubborn that you won’t take the time to become better at your career. The better you become the more profit you will see.
- Make a Plan
If you want to be a successful real estate investor you must have a plan. Sure, you can make a little money and be ok without a business plan, but you want to be successful right?
You should create and write down your business plan before you ever buy one property. You should have your business planned out for the long run and stick to it!
You should also make short term business plans. You should wake up every morning with a plan. You can not accomplish your goals if you don’t set any. You day will be more productive, and you will find yourself getting things done.
You should write down your plan for each day and wake up and get started on it immediately! Don’t waste your day by staying in bed late or wondering around the house all morning “trying” to get your day started. Wake up, get out of bed and start working on your list for the day.
- Build a Network
I never thought this was necessary in the past. I have recently learned how important this is for any entrepreneur. I have been a part of many businesses and it was a struggle with them all until my current career path.
I have had more success with my current career then my past careers and it has come easier this time around. It all comes down to the network I have built up over the years.
The larger you network grows the larger your business can grow. Just think about it. If you have only one or two contacts in your network when you have something to offer or a new business marketing strategy you only have two contacts to share it with and help you spread the word.
The larger you network becomes the more your can reach organically, meaning not having to pay for advertising.
- Ask for Referrals
This is hard for me to do sometimes. I don’t like asking people to do things for me, but the fact is that any business relies on referrals. In real estate more then half of my business come from referrals.
You need referrals to survive. You can simply ask your clients or past clients to refer you to anyone they can. You can also create a referral program that rewards the referrer. This is a great way to show your past clients that you care about them.
I find the more I step out and ask friends, family and clients for referrals they are always happy to help when they can. They never get upset with me and my business always does better.
- Stay Active
Don’t stop working. Don’t ever think that you made it and you can sit back a relax. Yes, there will be a point where you won’t have to put in 60 hours a week anymore. You may get to the point of where you have built a business that is self-sustaining, but don’t get lazy! Don’t quit pushing. Never stop working to make your business better.
Don’t stop learning and educating yourself. We talked about the need to keep learning and educating yourself to improve your business. Never allow yourself to get to the point that you think you have done enough, or you don’t need any more knowledge. Stay active and keep learning.
Don’t stop planning. The minute you stop planning is the minute you start wasting time. I know any day that I don’t have a specific plan I tend to be a little lazy. I take a little longer getting out of bed or eating breakfast. If you plan your day every day you will force yourself to be productive.
Don’t stop networking. Creating a network is essential to a business’s health. Once you start you will see a difference but don’t get complacent. Continue building and working on your connections
Don’t stop asking for referrals. When the referrals dry up your will start to see your business start to dry up. Referrals are the most cost-effective way to find new clients. The alternative is to use paid advertising to create new business. Actively seek more referrals.
Stay Active! The minute you take it easy will be the first minute your business will start declining.
If you are looking to get into real estate investing I encourage your to check out my article “How To Start Investing In Real Estate” for more detailed information on getting your career in real estate off the ground.
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