Over my twenty-plus years of investing, teaching and writing in the field of real estate and discounted mortgage investment, I've come to some conclusions as to what is required for success. Countless times I have wondered why two seemingly capable individuals have totally different experiences. One is very successful and one is caught in the “paralysis of analysis.” One approaches investment like a pitbull on acid and another is frozen by fear. One is enjoying prosperity and sipping on exotic wine and the other just “whines.”
What is the difference? Why do some get so caught up in the education drug that they fill their garage with home study courses, but can't fill their car with gas? Over the years I've watched the “winners” and what makes them successful. I've struggled trying to please and educate the “whiners” encountering primarily frustration – until I found the key about 12 years ago.
As I've incorporated the three elements I identified into my seminar trainings, the success ratio of my students has skyrocketed. Most of the world and seminars focus on the least important element only. A few make some attempts to address the second element. You are fighting a forest fire with a squirt gun if you don't deal with the most important third element.
“If you think education is expensive, try ignorance”
Education is the first element and 10% of what is needed for success. I would never underplay education and I don't regret the 30-40 thousand I have spent in cold hard cash on education. Proper education gives you the tools and can help with confidence and creative options and solutions. Education is not enough. You can take every seminar or home study course on discounted mortgages and not make a cent.
A Team and Resources
This second element is at least twice as important as your education (20%). At first you will need a team to cover your weaknesses and inadequacies. Once you have the knowledge and experience, you need a team to multiply your efforts and use your talents to their best and most profitable abilities. When a proper team is in place, your liabilities are covered and you will not be as likely to be paralyzed by fear. (Who should be on your team and how to build it, is a topic for another article.)
“I see only the objective, the obstacle must give way”
Napoleon had an attitude of success. He had “Intention.” Any great leader or business person has this essential ingredient. It goes way beyond listening to PMA (positive mental attitude) tapes and motivational seminars. No doubt, there is some value there. For many, they can also be frustrating, self-defeating and counter productive because it is only a part of what is needed.
You have to address several factors in addition to thinking more positively. Your conscious mind and attitude are only the tip of the iceberg. Try to move or steer an iceberg by grabbing a hold of the tip. Not possible, but exactly what people try to do mentally and emotionally.
Other elements are far more important. These are “limiting beliefs”, “emotional blocks” and “self-defeating behaviors.” Deal with these and life will change. Prosperity can flow, relationships will be abundant and you will realize your dreams.
“Argue your limitations and they are yours forever.”
Limiting beliefs are beliefs imposed by your “un-conscious” mind. You don't have a lot of control here, they just are. Some are easier to spot like “I'm not a good singer” or “I'm no good at public speaking” or “Big dogs want to eat me… and little ones will try too.” Other limiting beliefs affect all areas of your life, especially financially. Finances reflect all your beliefs about self-worth and scarcity in your life and the world. You can choose to believe in “Economic alchemy” or in “allocation of scarce resources.”
You won't make a penny over what you feel you are worth or deserve. You may not be conscious of these types of beliefs but there is a way to learn what they are, where they came from and how to alter them.
Stephen Covey made a couple statements that summarize this area well:
- All sin is outward manifestation of inner turmoil.
- Unexpressed emotions never die, they just manifest themselves in uglier and uglier ways.
- If you try to strangle an emotion, it struggles for life. If you let it live, it dies in the birth process.
The emotions, both the ones you term good as well as the ones you would consider bad that are in a sense stuck inside you influence your every action and all aspects of your life.
Actually, self-defeating behaviors are just a manifestation of the other two factors. Becoming aware of and dealing with these behaviors can aid you in identifying beliefs and blocks that stand between you and success. You can fight the behavior or identify the root. Fighting the behavior will not in the long run make much of a difference. The roots are the simple key and easy to deal with.
Goals Can be Extremely Self-Defeating and Useless
Once you deal with the areas we just talked about, then the “iceberg” is easy to steer and success can be yours. You can learn to set goals properly. Very, very few know how to do this.
Most “goal” educators set you up to fail. There is a powerful way to look at goals and in particular “INTENTION” that makes a major difference and works. Never set a goal again that you are not absolutely certain you can and will achieve. Just don't do it. Don't set it if you aren't willing to do what it takes.
By the way, if you aren't aware of your purpose and values, it is nearly impossible to set proper goals. You are fighting an incredible battle if you set a goal in conflict with these inner beliefs that you do have.