It is no secret that success breeds success, so to keep the proverbial ball rolling, why not pour some fuel on the fire? A great way to do this is by celebrating your wins. Whether they are big or small, reward yourself as you make progress.
Why Celebrate Your Wins?
Making a conscious decision to celebrate your wins gives you an incentive to make that next offer, complete that next deal, or reach that next important milestone. By setting out a reward for yourself which is tied to a positive outcome, you’ll work hard knowing there is an additional reward on the line.
From a psychological perspective, celebrating your wins reinforces good behaviour. The act of celebrating when you achieve a set level of success helps to program your subconscious to strive for further success.
When we combine the conscious incentive of a reward with the subconscious success mechanism we are pouring fuel on the fire of success. Finally, by celebrating our successes along the way, we avoid the “someday trap” of someday when I have x, I will do y.
Wins to Celebrate
You do not need a huge win to celebrate. Part of the purpose of celebrating wins is to formally acknowledge the smaller successes as they happen. Each small success that moves us closer to our overall goals is worthy of celebrating.
Here are a few ideas of what you can celebrate as a real estate investor:
- Accepted offers & closings
- New investment partners
- Net worth & cash flow targets
- Other milestones such as 5, 10 or 25 doors
How to Celebrate
The most important thing when deciding how to celebrate is to choose something that is rewarding for you. Another important concept is to align the magnitude of the reward with the magnitude of your achievement. Buying a sports car each time you get an accepted offer could quickly lead to financial problems, but buying a sports car after purchasing your 50th property may be an appropriate celebration.
Here are a few suggestions to celebrate the small wins:
- Nice dinner with spouse, partner, or friends
- Bottle of fine wine or scotch
- Weekend getaway
To celebrate your bigger wins, you may want to take a well deserved vacation, buy a new toy, or treat the team which helped you achieve that success.
Whatever your goals in real estate, take some time to map out some milestones and set some rewards. The road to success may not be paved with gold, but you can toss in some fun rewards along the way to keep things exciting.
photo credit: Creative Tools