I strongly admire men and women who have proven longevity in their careers despite the roadblocks and challenges that they faced throughout their time. We all have challenges, but some people prove to rise above them time and time again, over an extremely long period of time. Specifically, in commercial real estate brokerage and investing, those who can outlast the inevitable and continuous transitional nature of market cycles are generally those who succeed. After all, success isn't success unless it's lasting, in my opinion. Being in year five of my #CRE journey, I wouldn't say I have yet achieved "Staying Power" by this definition, but it is an intention and objective for me nonetheless.
The question is, how do professionals stick around and have success in the long haul? I believe the following traits are some essential parts of the tool kit to achieve success in real estate investing, brokerage, and life in general.
In my opinion, daily consistent actions in every moment is one of the most over looked or unrecognized traits in highly successful people. To achieve lasting success, I firmly believe you must consistently make the right small and minute decisions and take the right actions in our continuous moments of decision. Our society trains us to believe massive success stories are created overnight by huge, sudden breakthroughs. I believe those with true staying power have developed consistency in their practice and in their life over a long period of time.
Those who achieve staying power focus a tremendous amount of time and effort in developing themselves. They "sharpen the ax" far and away with greater effort and time than they do in "swinging at the tree," as the saying goes. They seek guidance through books, trade publications, mentors, digital sources such as podcasts/video training/social media, conferences, seminars, and of course through raw experiences. The ones who last take what they learn and apply it to their lives immediately, while receiving feedback, making continual adjustments and constantly growing.
I believe people who stick around and rise above the competition for the long haul have a philosophy or principles for each decision they make. They have a guiding direction which helps them make quick decisions based on their own research, experience or collective wisdom. These philosophies are developed over time and are intentionally formed. Those who lack such guiding principles make inconsistent decisions and experience inconsistent results.
People with staying power discover and embody who they really are at all times. They don't change their beliefs, opinions or expressions thereof based on who they are around or what may seem popular at the time. In fact, I believe those with staying power influence others to their line of thinking, at least for the short term, but perhaps I'm digressing. They are comfortable in being transparent because their beliefs and actions have a strong rooted philosophy of why they are such. They know they will never be able to please everyone, so it's much more efficient, effective and generally satisfying to just be themselves.
To build anything substantial, it must be originated in consistent healthy habits. Those with staying power know the power of their subconscious mind and know how to manipulate it to consistently do the small things essential for success. They don't think about and expend valuable willpower energy on working out, eating well, protecting & feeding their mind. They just do these things habitually. The energy saved with this type of life on autopilot creates continuous momentum and a compound effect with huge results.
Those who are impactful over many decades realize that this game is not a sprint, but a marathon. High performers realize that if they are not mindful, they could risk burnout and the detrimental effects of this. Rest and recovery is a consistent element of lives of those with staying power. They systematically schedule activities that feed their creativity, energy and emotional well-being. They take time to enjoy the moment every day and additionally focus on implementing systems and processes that allow them to step away from the day to day on a regular basis, even if it is a short time.
In real estate investing, it is a very long and sometimes arduous game. It is not a get-rich-quick scheme and it's not a cryptocurrency frenzy, lottery, or luck of the draw rags-to-riches concept. To achieve the great life benefits that real estate can provide, I believe you need to embody these traits to achieve the staying power that ultimately will deliver the highest rewards. My approach is to embody these personal traits to ensure my "staying power" is achieved and I hope you will join me.
"The people living on top, those who take responsibility, live a life that is in some ways uncomfortable. Successful people do what unsuccessful people are not willing to do, and that often means living outside the limits of one's comfort zone. The people on the other side are hanging with the masses, and their lives are often more comfortable during that long early stretch. But they become more uncomfortable later on. By contrast, those on the success curve end up ever more comfortable as their lives progress, because over the course of time they continue to have the finances, the health and happiness, the relationships, the success. This means changing your thinking about the comfort zone." - Jeff Olson
"Doing the right thing sometimes seems to be more 'expensive' at the time but it always ends up being cheaper than the repercussions of doing the wrong thing." - Andy Frisella