How To Separate Yourself From The Competition

The real estate investing business is full of competition. Every day there is a new investor in your market looking to plant their flag and build their pipeline. The minute you think you have things figured out someone or something comes along and changes everything. If you want sustained success you need to focus as much on the process as the execution. The seemingly little things in your daily routine and your mindset matter as much, if not more, than the big ones. In a business where everyone starts out on equal footing there is virtually nothing separating you from fellow investors in your area. Just a few minor tweaks in your business can often make all the difference. Here are five ways successful investors separate themselves from their competition.

• Take action. Everybody wants to be successful, but few are willing to sacrifice for it. The single biggest thing you can do if you want to achieve your goals is to act on them. Instead of constantly planning and talking about what you want to do, you need to go out there and do it. Whatever niche you are in or goals you want to achieve nothing happens without action. The investing business is full of small rejections. Your last dozen offers may not get accepted, your networking invitations may fall flat and you may be having trouble finding the right people for your team. It is easy to give up and accept that this is just the way things are. However, the successful investors push through this and find a way to make things happen. They are not afraid to knock on doors, pick up the phone or show up at networking events. They don’t wait for deals to fall on their laps, they go out and get them. By simply taking action you give yourself a decided advantage over your competition.
• Learn constantly. The real estate business is constantly evolving and changing. A niche you invested in just six months ago, may not be nearly as strong today. The most successful investors make it a point to stay on top of everything in their business. They spend time, and money, learning and always looking for a better way of doing things. Going to weekend boot camps or listening to a motivational speaker for a weekend may not ideal, but it can have a valuable impact. Even something as small as spending an hour a day reading blog posts or going to your favorite investing website makes a difference. Increased education has a trickle-down effect on everything else you do in your business. You will feel more confident talking to people at networking meetings, be more confident making offers and know all the potential downsides on a given transaction. If you are not learning you are falling behind and will face an uphill battle on almost everything you do.
• Surround yourself with good people. There is an old saying that you are a reflection of the people you surround yourself with. In business there are usually two sets of people: those who constantly complain and those who figure out a way to do things. If you are around negative people who are upset about losing deals and a lack of business eventually it starts to wear on you. You will begin changing your attitude and become negative just like them. On the flip side if you have a good team of people on your side you will embrace whatever challenges you face and ultimately get more things done. Your upbeat attitude will help you meet more people and expand your networking circle. Instead of being down and negative all the time, you will enjoy trying to figure out solutions to difficult problems with your team. Successful investors hang out with other like-minded people who aren’t negative about every setback in their business.
• Develop a daily routine. Working for yourself has plenty of distinct advantages. You can make your own schedule, earn limitless income and work almost anywhere you like. As great as these are, there are also a few potential traps to watch out for. There is nobody looking over your shoulder driving you to finish a project by a certain deadline. If you want to sleep in one day or spend the morning on the golf course there is nobody stopping you. To get the most out of your business you need to develop a daily routine. You should start your daily early, so you can tackle all your busy projects without the distractions of family, technology and business. You should get your toughest tasks out of the way early in the morning while motivation is still fresh. Whatever your do, you need to have structure and accountability in your daily routine. Without it you will spend your day bouncing from task to task without getting anything accomplished.
• Set goals. Everyone in business should have goals they strive to achieve. Start by mapping out a list of daily goals. Your list doesn’t need to be overly long, but you should finish whatever is on your list. The more you put off to tomorrow, the less you accomplish. In addition, you should also have 3, 6, 9, 12, 24 and even 60-month business and personal goals. Once a week you should look at them and track your progress and see what needs to be done. Everything you do in your business should be to help achieve a short- or long-term goal. 

Nothing on this list is overly complicated but you would be surprised at how few investors actually do them. Try tackling one item at a time and you will slowly see yourself separate from your competition.