The Stress Free Guide to Working
ON Instead of IN Your Real Estate Business
Think back to when you first fell in love with real estate…
- What was it about real estate that made your heart go pitter-patter?
- What was the pivotal point that caused you to make a career change?
- What initially excited you about becoming a real estate entrepreneur?
Whatever it was that made you first fall in love, it’s not unusual to “lose that loving feeling” if your business takes a turn and it feels like it’s running you, instead of vice versa.
In other words, you’ve become so consumed with the day-to-day minutia of being a business owner (admin, paperwork, dealing with dead-end leads, managing staff, dealing with unruly vendors, etc.) that the business starts to swallow you up and spit you out.
This feeling is often the precursor to a plateau in productivity… and profits. Not to mention, it spills over into your personal life, and can affect how you relate with family and friends.
So, I’m going to share with you what I consider to be the ultimate guide to alleviate some of that business fatigue you’re experiencing so you can start working ON instead of IN your business and get back that loving feeling.
Make Each Day Your Masterpiece Through Meditation
Let’s start with how to get off the roller coaster of ups and downs you may experience on a daily basis in your real estate business. The highly admired coach, John Wooden, once said “make each day your masterpiece.”
So here’s some tips to help you do just that.
Meditate every morning. I suggest before you get in the hustle and bustle of your day, take at least 5 minutes, relax, and just – be still. That doesn’t mean you have to try to struggle to turn all the thoughts off in your head (which usually only results in more thoughts).
It just means that you sit still, breath and relax – distraction free – before you look at your first email or make your first call. Be present, and meditate.
I know there’s push back from some people about taking time to meditate because they think it’s too esoteric - or they don’t feel it works for them.
Look, it’s not a coincidence that a growing number of Fortune 500 CEOs are practicing meditation and encouraging meditation in their companies.
Some of the benefits of mediation include:
- Decreased anxiety, which increases resilience and performance under stress
- Increased emotional intelligence
- Enhanced creativity: Your greatest ideas typically occur when your mind is more relaxed and in a quiet space - as opposed to when your mind is going 100 miles a minute, making it hard for creative ideas to break through
- Helps you focus on the task in front of you
Don’t overthink this.
In fact, when you’re meditating – do nothing. And, try to make a habit of doing it everyday around the same time. This one thing alone has helped me achieve incredible peace and resilience in my business.
Situations that rattle many real estate entrepreneurs who experience emotional highs and lows, don’t phase me. Trust me. If you’re not already doing it, start meditating tomorrow morning.
Be Proactive Instead of Reactive
One way to start working ON instead of IN your business is to become a proactive, instead of a reactive, real estate entrepreneur.
Below are some examples of one vs the other:
Being a Reactive Real Estate Entrepreneur vs. Proactive
Figure Out Your ONE THING Each Day
Part of being a proactive real estate entrepreneur who doesn’t have your head on a swivel is knowing your dominoes. Let me explain.
At the end of each business day, you should identify your “lead domino” that will be your focus for the next day.
Lead domino refers to the idea of focusing on the ONE objective or task that will make everything else simpler in your business (hence push down the first domino and the other dominoes behind it will fall effortlessly).
This concept is coined by Gary Keller, author of “The One Thing.” He suggests that no matter how success is measured, personal or professional, only the ability to dismiss distractions and concentrate on your ONE thing stands between you and your goals.
Then you MUST time-block your most important work and avoid distractions during that time at all costs.
If you do do this, amazing things will start happening because your concentrated efforts are pushing your ultimate goal forward as opposed to your energies being dispersed in a multitude of activities, that make it feel like you’re running in place.
"Success is sequential, not simultaneous. It’s one step at a time. ONE Thing
at a time. It’s not your one and only thing. It’s the ONE Thing right now." – Gary Keller
Use Task Management Tools To Help You And Your Team Stay Focused
There is no one size fits all task management tool.
But, you absolutely must be documenting tasks that need to be accomplished by you and your staff along, with deadlines.
If you’re just relying on memory, it’s not a matter of if, but when, something falls through the cracks – potentially costing you a lot of time and money.
One of my task management tool of choice is Todoist.
Below I've provided 3 suggestions on how you can use this tool, or a similar tool, in your real estate business to be most effective.
Also, whether you use a task management tool or some other method, you should find a way to keep that ONE thing in front of you at all times during your work day.
Maybe you type out that activity and make it a screensaver on your phone or computer. Or, you write it on an obstructive sticky note that you’d have to physically move in order to get anything else done.
You need to have horse blinders on so that if by chance you do get distracted, you’ll have something to help you hit the reset button and get back on course.
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If You Want To Sell More Real Estate, You Have To Learn To Delegate!
A large part of the burnout you may be feeling in your business is because you’ve got too much on your plate.
There’s a lot of moving pieces in your business, so when you have to be the chef, the server and the host – it’s eventually going to wear on you.
I know we’re talking about real estate investing, but I’m a foodie and the same concept applies.
One surefire way to alleviate some of that pressure is to delegate.
If you have a virtual assistant or local staff, make sure to delegate tasks that: (1) aren’t revenue generating, or (2) you don’t enjoy doing.
You didn’t get in business for yourself to do $10/hr tasks, or to operate a business doing activities you don’t like.
SO STOP IT.
If you have staff, even if it’s just one person, reorganize your to-do list RIGHT NOW so you’re only doing the tasks YOU should be doing.
But, what if you don’t have staff and you’re a solopreneur?
If you’re solo in the biz, the first person you should hire in your real estate business is a real estate assistant. You can hire someone local or use a virtual assistant (VA).
A VA is a remote person that works from home so they’re typically much more affordable and don’t require the extra overhead of someone local. I’ve had a great experience using virtual real assistants since 2008, so I’ll dig a little deeper on that...
Your virtual real assistant will provide you support with all your day to day routine tasks including deal coordination, handling phone calls, and taking over admin paperwork, in order to save you substantial time and money.
Over time this person can also become your right hand, and quite honestly completely change your real estate business.
A virtual assistant will create efficiencies in your organization that make you more profitable and free up your time and mental space to focus on high revenue generating activities – or just allow you to have more free time with your family.
Flying solo may be fine initially – but in order to really soar financially, and to avoid crashing from overwhelm – you should seriously consider hiring a real estate assistant.
So What's Next?
Now that we’ve discussed a few ways for you to fall back in love with your real estate business by using some strategies and tools to help you work ON instead of IN your business – it’s time for you to take action.
Here’s a quick recap of my suggestions:
- Meditate – Try meditating a few minutes a day each morning before you get into your day. It will only get easier over time and the results are priceless.
- Pre-Planning – Be proactive instead of reactive, and plan for tomorrow the day before. Determine your ONE thing that you need to focus on that will make everything else easier or unnecessary. And then be militant with the time you block off for that ONE thing each day. This little bit of distraction-free time along with your intent focus on one activity designed to push you closer to your objective, will pay off in a big way toward helping you achieve your goal.
- Use Task Management Tools – You’ve got too much going on in a day to rely on your memory to keep everything straight. The more “stuff” you can take out of your head, the less stress you’ll experience. Use tools to help you keep track of daily tasks and to assign tasks to your staff.
- DEL-E-GATE – Start delegating all tasks that aren’t generating revenue or aren’t on your love-to-do list. If delegating means hiring someone, then make a point to hire a real estate assistant as soon as you can. Bonus points if you hire a virtual assistant!
If you put to use these strategies I mentioned, they'll have a tremendous impact on eliminating stress and helping you run a real estate business that you love!