Use The IDEAL Formula to Determine if they are simply bumps in the road… or are indications to change roads
Everyone who has ever accomplished any success in life has experienced many obstacles, problems, and failures before moving onto success. Obstacles and failures are a part of success, just the same as all the fame and admiration. What matters is not the hurdle that is put in your path but how you deal with it once you encounter it.
Take off the rose-coloured, judgemental glasses
When the majority of people are looking at those who have created success in their lives, most only see the success. They don’t see the full journey it took to get to that success. A journey filled with very hard work, numerous failures and many course corrections. The hard times actually are a critical part of any success journey. Without the obstacles, there can be no sustainable success.
Here are a few famous ‘failures’ that have overcome many obstacles:
■ Michael Jordan: cut from his high school basketball team in his sophomore year
■ Abraham Lincoln: was defeated in many elections before becoming one of the most revered U.S. presidents
■ Bill Gates: in 1970 was a Harvard University dropout. He started a software company (that was soon to become Microsoft) by purchasing the software technology from “someone” for only $US50. Bill Gates is now considered one of the world’s richest people.
■ Steve Jobs: in 1985, Steve Jobs was ousted from all his responsibilities with Apple. Since then Jobs has recovered quite nicely from this very high-profile exit.
■ Walt Disney: started his own business from his home garage and his very first cartoon production went bankrupt. During his first press conference, a newspaper editor ridiculed Walt Disney because he had no good ideas in film production. The Walt Disney Company now makes average revenue of US $30 billion annually.
… and many others. The internet, Hollywood movies and book shelves are full of amazing autobiographies of people who have overcome seemingly insurmountable hardships to create success.
Just like athletes, presidents, and CEOs, successful Real Estate investors do not let figurative barriers stop them from creating long-term never-ending wealth.
One of the most controversial Real Estate investors is the now Presidential candidate Donald Trump. In his book ‘The Art of The Comeback’, the real estate billionaire describes how he managed to achieve one of the most astounding financial comebacks in history.
He was billions of dollars in debt, and—worse yet—his once-busy phone had stopped ringing. In this book it describes how ‘The Donald’ hit his lowest point, and reveals the steps he took to bargain with his creditors and come back stronger and wealthier than ever.
Do you have what it takes to keep the obstacles
in your business from holding you back?
Failure and obstacles aren’t the end of a successful journey, they just become sign-posts along the way. don’t have to be the end. If you let them, obstacles can be a powerful teacher that help propel you forward and create long-term success. These road blocks are just the beginning and they are a sign you are making progress.
Mistakes and Failures can be IDEAL with this Formula:
Some practical steps you can take to overcome your obstacles. If you encounter a road block that seems insurmountable, just remember the IDEAL formula to help get your through
1. I -dentify it: With clarity and no emotions, define exactly what is standing in your way. Lack of money? Lack of time? Lack of knowledge? Fear of judgment? Fear of the unknown? Fear of the Markets? With precision, can you simply and calmly describe your obstacle to someone else in a sentence or two?… If you can’t, you need to define your obstacle more clearly.
2. D -istance yourself from the obstacle: Once you have fully identified your dilemma… forget about it. You need to spend 5% of your time focusing on the obstacle and 95% of your time eliminating it.
3. E -ducate yourself: Knowledge, learning something new or just applying something you already know are the best strategies to start the process of overcoming your obstacles. Through your newfound knowledge you will gain the confidence to tackle your perceived obstacle.
4. A -ction plan: Once you know what you should do, you need to make a systematic plan of action – keep it simple and stay focused on the next step in the process. Having a plan is only the start: you need to put the car in gear and give it some gas… which leads to the final step…
5. L -aunch into action: When in doubt, do something! Now you know what to do. Just do it! Block your actions into your calendar and check them off as you complete them. Once you complete one action, figure out the next step and do that. Before you know it, you will have eliminated your obstacles.
You will experience failure and obstacles in your journey as a Real Estate Investor – this is inevitable. Make sure you remember that these challenges are just stepping stones to success… Start today!