In this episode of An Investors Journey, we go over How To Become An Overnight Success!
So many of us get into real estate investing or even just running our own business because of the allure of becoming an overnight success.
We think that it's as simple as just starting and the success will come. But what many don't see is the amount of work it actually takes to get it done.
Most overestimate what they can do in a year and underestimate what they can do in 10. -Bill Gates
I know many of you are probably nodding your head in agreeance but yet you still have that thought that you will get there soon.
I get it's difficult especially when every time you open up Facebook or Instagram you see someone else out there is "killing it". But, what I've come to learn is that most of those people are their own PR agency and they will never post something bad. Here's a little secret too, look at how often they're actually posting their "successes". Most of the time you see someone all over social media because they just got a deal. Once that deal goes away you don't see them again for a long while. This is because they haven't actually made it yet. This is OK. Just don't compare your failures to their supposed successes.
Becoming an overnight success requires you to have the following three P's:
- Passion- without passion for what you're doing you will never make it through the tough times.
- Persistence- without persistence you will give up. So many challenges we face as business owners require persistence to solve them.
- Patience- this is probably by far the most important. Overnight successes happen over the course of a decade or more. If you're not willing to wait that long then move on.
Questions to ask yourself before starting:
- Why are you doing this? If passion isn't your number one answer then don't do it. Yes, you can make some money but you will never reach true success.
- Are you resourceful? As a business owner resourcefulness is a very important skill to have. You will face many problems and challenges which you will need to reach deep into your resources to figure out how to deal with them.
- Are you willing to work 24/7/365 for the next 10 years? If you're not someone else will be and will always beat you. Your business, like a newborn, will die without you there.
- Are you willing to work for the first couple of years for little to no pay? So many new business owners take from the business as soon as it produces and this prevents your business from ever growing and becoming strong enough.
Once you have figured out that you have the 3 P's and you've answered the 4 questions truthfully and you still want to start your own business go to other people you trust that are in business and have them talk you out of it. The reason I say this is because if they are truly honest with you they will not sugarcoat how hard it really is. But, if they love what they do they will still tell you that in spite of the challenges and headaches they wouldn't want to do anything else.
Now, if after all of this you still want to start your own business then go ahead and jump in. You will have a blast. It will be a roller coaster for sure. But still a lot of fun.
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