“What Does It Take to Be Very Good At What You Do or Successful vs. Unsuccessful?”
There are many people that think they want to be successful vs. the few that actually are. As you well know studies have been done about this, books written and seminars given on the subject.
So, what is the difference in the commercial real estate field, what is it that really separates the men from the boys?
It's quick implementation, doing it now, vs. the “I will wait until tomorrow to do it” syndrome. OR a “whatever it takes” attitude and that is probably it.
I don't think it is talent, I don't think it is education, I can count the many MBA's and law school grads that got into real estate investing and then got right back out, the most successful commercial real estate investors that I know had no formal or advanced business schooling.
Oh, it's NOT luck! Luck is more of a result of a lot of other self-directed factors than it is pure accident. Ignorant people do count it as good luck or bad luck. Usually their bad luck and the other persons good luck. So, many walk around frustrated, jealous and angry citing all of the ways that they are better qualified, educated, or capable than “the other guy.”
If you think about it, the great entrepreneurs in our society all have the “whatever it takes” attitude. Most were broke, numerous times, most were criticized and some were laughed at.
AND I think that this comes down to many other things too.
For example I ran a marathon last year and am planning to run another (2) 1/2 marathons this year. Well, you just can't skip out the door and run 13 -26 miles if you have not trained for it.
Sacrifice, discipline, avoiding negative “I don't feel like running today” emotions. Most people think that there would be no way they could run a 26 mile marathon BECAUSE they will not do what it takes to get in shape and do it!! I use this illustration because it's the same in sports, business, etc.
Without the “do what it takes” attitude you will be swimming in mostly mediocrity – in anything really. Try not to be the commercial real estate investor that does have a good idea but never develops it, that has great talents but will not nurture them and realize their real potential.
The interesting thing about all of this is really a catch 22 situation for the commercial real estate investor. The nice thing is that we have free will to do what it takes, or put it off until tomorrow.
Which will you choose?