In the context of real estate investing, here are some of the milestones you should celebrate:
First deal analyzed
First phone call with a broker
First offer made
First counter-offer received
First contract submitted
First meeting with a potential investor
First conversation with a potential team member (like property manager or lender)
10th phone call with a broker or potential team member
10th offer made
10th investor meeting
50th offer made
Notice that all of these milestones are not outcomes but activities. The beauty of this technique is that you can actually see yourself making progress even though you are not achieving any results. This is important because that first tangible result (doing your first deal) may take longer than you have patience for. But if you consider certain activities as “mini results,” then you feel like you’re making progress and you’re more likely to stick with it.
Whenever you get started with something new, focus on activities, not outcomes. The outcomes will come later but only after you do the activity long enough. Do not become discouraged by the apparent lack of success. Continue taking action and make sure to recognize and celebrate the small milestones along the way. Eventually, the results will come.
Are you frustrated with your real estate investing? What “small” milestones can you set and celebrate?
Let’s talk in the comments section below…