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Inner Game

Top 10 Things Yoda Wants Real Estate Entrepreneurs to Know

ninjaHey Moguls, JP Moses here…

Step into the time machine for a moment, and let’s go back to 1977 together. What’s so special about that year, you ask? It’s the year Apple Computers, Inc. became incorporated and the year of the first space shuttle flight. It was also the year that Coneheads debuted on Saturday Night Live. All (clearly) are significant moments in history and worth noting…

But, really, 1977 was such a significant year because of one of the greatest cinematic experiences ever. I’m talking about the one and only original Star Wars, soon to be followed by the epic sequel, The Empire Strikes Back, a movie that introduced the wise and so-ugly-he’s-cute Yoda, king of “the Force.”

So where am I going with this? I recently came across an interesting take on some of Yoda’s wisdom and how it relates to entrepreneurship. And I was inspired to put my own spin on it for the real estate investment world.

And here goes....

1. “Train yourself to let go of everything you fear to lose.” ~Yoda

Fear of loss. It’s one of the biggest, most insidious success killers for newer investors, hands down. What is there so be fearful of? Oh, I don’t know... Fear of losing earnest money, losing a deal, failing, letting family down, having friends look at your like you’re crazy.

Fear in the real estate investment business is real, very real, but simply put... you’ve got to get over it. Your #1 priority should be kicking your fear of loss right out the door. Otherwise, your potential will be lost.

2. “Patience you must have, my young padawan” ~Yoda

It’s human nature to want instant gratification, but far too many investors want it all now. They have their sights set on making it big overnight, on becoming an instant success. But that’s not reality for most of us.

breathEveryone has a learning curve, and everyone must fight their way through it. It’s a rite of passage for every investor.

So focus on the long-term game, not just the short plays, and look at your business as a long-term investment, a career (not just a job), and a way of life, not just a way to make quick money.

3. “You must unlearn what you have learned.” ~Yoda

Most of us learn that it’s better to be safe than sorry. We learn how to think like an employee, or how to run a business like a self-employed person rather than a business owner…

But here’s the thing – some of the things that we learn over time aren’t the best lessons. They won’t benefit us or help us grow our businesses in the long run. So, we’ve got to unlearn them.

But habits die hard, and unlearning means being fiercely committed to your own ongoing personal development.

4. “If no mistake have you made, yet losing you are, a different game you should play.” ~Yoda

If you’re not winning the game of real estate investment versus the world, it doesn’t mean you should throw in the towel. Maybe you just need to change your approach. In the real estate investment arena, there are many games to play, but your game should match your local market opportunities, your strengths and your interests.

Don’t simply do what others around you are doing to make money. You’ve got to find your niche – what works for you – and then you need to be willing to trial and error lots of things along the way.

5. “Control, control, you must learn control!” ~Yoda

For me, this one is about 2 things:

1.     Planning your day

2.     Running your business like a business

And what exactly does that mean? When you plan your day (even if you deviate from that plan), you are in control. You’ve made a statement to that day, and you’ve already had a successful day just by having a plan in place. So you’ve got to think of planning your day each morning as the most important thing you can do daily.

Secondly, the only way to control your business is to consistently dedicate time and effort to running things from the CEO seat. You’ve got to get your head above the trees, regularly, to survey the landscape. Every good business owner does this... and so should you.

6. “Always pass on what you have learned.” ~Yoda

Don’t think of things with scarcity. Instead, think of things in terms of abundance and look for opportunities to share what you’ve learned with other people.

calmOne of my favorite wombos (a word combo = wombo) is “coopetition.” In short, take your competition and find a way to cooperate with them for everyone’s benefit.

Competition + Cooperation = Coopetition

The great Zig Zigler said it best: “You will get all you want in life, if you help enough other people get what they want.”

7. “Difficult to see. Always in motion is the future...” ~Yoda

Planning is key, you already know that...

But you can’t plan everything. Sometimes you just have to take things as they come. Markets will shift, deals will go sideways, and (sad but true) partners will fail you. These are all realities of the investment business, but your mission is to ensure you don’t become of victim of “analysis paralysis.”

Also learn to “move with the cheese,” and remember life and success isn’t about how many times you fall down – it’s how often and you get back up again.

8. “Named must your fear be before banish it you can.” ~Yoda

Get in touch with what’s really stopping you. What keeps you from stepping boldly forward? Fear isn’t always “false evidence appearing real.” Sometimes it’s legit, and it can be a warning to pay attention to.

But you can’t tell the difference if you aren’t committed to discovering what you’re afraid of. So, take a good, hard look in the mirror, identify and accept your fears, then conquer them to gain perspective and wisdom from them.

9. “I can’t believe it.” ~Luke “That is why you fail.” ~Yoda

The biggest determining factor to your success or failure isn’t the REI tactics or strategies you know. It’s all about your beliefs. Ask yourself if your beliefs are holing you back and hindering your ultimate success, then commit to uncovering them and eliminating those beliefs forever.

I challenge you to read at least one book a month by Jim Rohn, Brian Tracy and Tony Robbins. It will change your life.

10. “Do or do not. There is no try.” ~Yoda

This one is simple: Massive action trumps mistakes every time.

It’s much better to make progress than to perform perfectly.

Use the Force, young Jedis

Yoda’s lessons are powerful, and I was surprised myself to find so many correlations between his life lessons and the world of real estate investment. Use these words of wisdom, take them to heart and apply them to both your life and your business.

They will, without a doubt, help you become a more successful investor and maybe even a smarter, more intuitive and more productive person and professional.

What say you, Jedis?

Got any Yoda-like wisdom to share? Let’s hear it in the comments section below.


Do It To It! Immediate Action Steps

Let go of your fears.

Have patience, always.

Unlearn things that don’t benefit your business in the long run.

Share with others the valuable lessons you’ve learned.

Plan your day, but know you can’t plan for everything.

Eliminate or change beliefs that hinder your success.

Take massive action.

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