Real Estate Success and Failure: Separating Winners from Losers

As easy as it looks on DIY, HGTV and other similar networks, there is a common theme in these shows that separate long-term success from those who quit and move on to the next Hot idea. Key elements of that theme include: Determination + Knowledge + Skill.

Determination: firmness of purpose; resoluteness. The overwhelming desire to achieve a purpose or goal. The condition of mind, soul and body that refuses to accept failure as the necessary end result. The ability to see past failure when it does occur to become more than you are today. This is a condition of the heart that uses failure to learn what is needed to achieve the desired goal next time.

Knowledge: Every endeavor requires, by necessity, with a minimum standard of knowledge. Some require little knowledge, such as digging a hole in dirt with a shovel. Other endeavors, like rocket science, can be quite complex and require one or more teams people, each with specialized knowledge.

Skill: the ability to do something well; expertise. Skill is a combination of natural giftedness and also an ability developed by intentional refinement of that gift through training, whether mental, physical or both.

These are not sexy, nor is this combination common. However, they CAN be developed over time. Over the next few weeks, we will discuss these, each in greater detail to bring to clarity how it is some seem to succeed more often than others.