Do Something You Have Never Done Before!
I have discussed much of my prior real estate activities in prior blogs and do not wish to give another retelling. My story is not typical, I don’t think anyone’s story is really typical, but it is not unusual either. I didn’t dream about becoming a real estate entrepreneur, didn’t really plan for it, but when an opportunity presented itself I said yes and then real estate suddenly became a realistic pursuit. I then studied books and courses, analyzed, planned and took years before I could control my fear of failure and do deals on a fairly regular basis.
If you relate to the years of study and contemplation and have not yet found the right project to invest in there is a simple remedy. Do something you have never done before. It doesn’t make much difference what it is. Hedge your bet. Participate on a small scale if that seems safer but do something. If the activity is successful it will be much easier to repeat it and have another success. It won’t be long before this activity will be a standard part of your repertoire and you will be ready to do something you have never done before.
If the activity was not successful think about what went wrong and learn from it. Did you enjoy the process but need to modify your approach to have a better outcome? Do so? Do you need help or advice, maybe a partner to guide you? Seek them out. Did you hate every aspect of the activity? Do something else you have never done before.
I now frequently consider participating in or beginning projects I never thought were possible. I sometimes consider projects that I think are beyond my means but I know that this is not true any longer--it really never was. If the project is viable I will be able to attract partners, funders and experts to help me launch it.
Doing something you have never done before makes it much easier to do something you have never done before. Try it.
Comments (13)
Thank you so much for all your articles which I have been reading for the last 3 days. You write very well. But this article is the one that has struck my heart and head. Even the replies have been encouraging. My daughter and I are just taking our first steps. I realize that I am terrified and she is positive and fearless. This article has changed my fear to freedom. A weight has been lifted and I'm ready to take the next steps forward. I can and will step out of my comfort zone. Thus moving closer to my goal. Thank-you.
Cynthia Kocis, about 6 years ago
@Cynthia Kocis thank you for your comment. It seems to me that your daughter and you may complement each other well and may make a good team. I find more value in partners who interpret things differently than I and can convince me to defer to them when they present strong arguments, to move forward when I have doubts. I always hope I have the same effect on them. Start a project. It is extremely motivating when you have your money on the line.
Jeff Rabinowitz, about 6 years ago
Well said, I think some of the simplest things make the biggest difference. It is taking action and going for it. It doesn't need to be perfect, you just need to move in the right direction.
Anna Shaver, over 9 years ago
I agree completely with your article. I think one of the hardest endeavors in life is getting out of your comfort zone. Unfortunately, that is generally 1) the best way to learn and grow as a person, 2) one of the easiest things to do. Though I sometimes to fail to take my own advice, everyone should do one thing each day to better themself. Get moving forward!
Frankie Woods, over 9 years ago
I would be thrilled if this helped. It took me too many years to realize that real estate investing is better as a team sport. It is much more profitable and enjoyable when you work with partners who you trust and whose company you like.
Jeff Rabinowitz, over 9 years ago
Great post @Jeff Rabinowitz
I love the idea of doing something you have never done before because it really helps in getting out of your comfort zone. As I've heard before and experienced firsthand, "Life begins at the end of you comfort zone."
What I've been working on recently definitely takes me out of my comfort zone but in such a good way that I can't imagine going back.
Account Closed, over 9 years ago
Love the very tweetable line at the end: "Doing something you have never done before makes it much easier to do something you have never done before." Great article. I find myself really needing to do something I've never done before right now. Due to my background I find myself trying to do everything myself...it's a psychological thing. I tend to keep things to myself and not ask for help. Not so much out of greed as much as not wanting to "inconvenience" others with my problems...so I muddle through as best I can and make to with what I've got. I will go into a room full of people and all I see is a bunch of folks already engaged with other people and see myself as the encroaching outsider. (Sorry for the psych self-analysis session.) But I'm trying to overcome that and reach out more. I have to if I'm going to get my REI activities off the ground. I'm currently trying to network and locate a good experienced investor to partner with so I can get my first deal under my belt to overcome the inertia of just sitting here looking at "potential" deals. I appreciate the urging to do something I've never done before and I will do so.
Jim Viens, over 9 years ago
Thank you for your comment @Shevaughn Rawlins . I agree with all of it except I am not a strong advocate of planning. I know many plan 1 year, 5 year 10 year etc., are very successful with this and swear by it but I think this would be restrictive for me. My main goal when I started investing was freedom. Freedom from holding a job and to pursue my own pursuits on my own terms. I consider it a great success that I almost never set an alarm clock (I have always been a night person).
I think planning would have inhibited my success as I never envisaged the activities I am involved in now. How can one plan for the unknown? I regularly invest through my self directed IRA but could never incorporate that into my plan before I knew they existed. I knew there were private lenders but I never considered funding a deal until the right deal presented itself. A couple years ago I had never thought I would be involved in a new construction project. Now, the first spec home is under contract and the second was started before the first was finished. I have no idea what I will be doing in 5 years and I like it that way. Maybe I'll buy an apartment building, build a condo development, a subdivision, perhaps participate in a commercial project. I have no plans but I hope I am open to the possibility when it presents and I hope I remember to keep doing things I have never done before.
Jeff Rabinowitz, over 9 years ago
Great article- I think everyone can relate to the points that you made in the article in some way or another. Success comes from taking a leap outside your comfort zone and going down that path/ journey despite the barrier(s) that attempts to steer you off course. It's about establishing a plan, having the discipline/ motivation, staying focused on the task at hand, finding a solution when problems arise and surrounding yourself with individuals that will support you during your journey and most importantly await your arrival at the finish line when you reach the top!!! ANYTHING can be accomplished when you put your mind to it!!!
Shevaughn Rawlins, over 9 years ago
@Andrew Syrios, I can't find the "like" button but I do indeed.
Jeff Rabinowitz, over 9 years ago
Well thank you, I will consider my comment liked
Andrew Syrios, over 9 years ago
I can't remember where I read it, but it was something like "always be leaning just past your comfort zone." Another quote I like is "comfort makes cowards of us all." It's amazing how something that's so frightening can become so mundane once you've done it a few times. So I agree completely, as you say, do something new. And keep doing something new.
Andrew Syrios, over 9 years ago
Very well said @Andrew Syrios
Toyin Dawodu, over 9 years ago