07 Feb Fear and Pessimism
Overcoming Fear and Pessimism
George N. Skidis, Jr.
Fear and pessimism are two of the greatest challenges a real estate investor will face during their career. No matter how long or short that career may be.
Fear of rejection paralyzes members of every trade and profession. Not just real estate investors. Every sales person has heard this, “They need to hear no ten times, and face the rejection before they hear one yes”. Then they need to make three sales presentations to get one sale. That means thirty contacts and three sales presentations to get one sale. That can easily accumulate into an entire week’s work.
How much is your week’s work worth?
The 30/3/1 formula and others just like it have been around for decades. It is easily brushed aside as the law of numbers. Here is the twist. It is so simple to follow through, but even simpler not to. Five rejections and they end up drinking or losing money they don’t have at a casino or other location where they can ignore their problems, for a while. Maybe you hide on Facebook or play computer solitaire. Pick your poison, because that is exactly what it is. Fear and how you deal with it are the poison that ruins your career.
Pessimism on the other hand comes from within. It thrives on our own self doubt and insecurity. If we believe it can’t be done, believe me it can’t be. Pessimism is the original self fulfilling prophecy. What you believe is what you get, regardless of what you see.
Pessimism can become pervasive, affecting how we look at everything, the decisions we make, how we dress and even how we appear to others. If you have never checked out the photos of interesting Walmart Shoppers go to http://www.peopleofwalmart.com/ and try and determine who is suffering from fear and pessimism. After doing that think long and hard about the image you present to the world. Is your image one of courage and confidence? Are you dressing like a winner or a loser? Pessimism pulls you down and makes you feel like you are less than you are.
Fear and Pessimism come with attitudes. “Why bother making an offer or fixing up that rental unit. It will just be rejected or they will tear it up again. It is here that many get out of real estate investing and forgo what could be for an imagined disaster.
What Can You Do
If you are caught in this trap you need to get out as soon as possible and get back to increasing your ROI and streams of income.
- Start the day off with a few routine items. Make the bed, take a shower, brush your teeth and put on clean clothes that make you want to succeed. Guys don’t forget to use deodorant and apply the aftershave. Ladies make sure the perfume is subtle and not overpowering.
- Take some time to pray or meditate, whatever suits you. For me it starts with the Lord’s Prayer. For you it might be something else, but connect with your spiritual side.
- Before leaving the house review your daily affirmations. You are a success, customers need me, deals abound. Whatever you need to start the day off right, say it and say it like you believe it.
- Outline ten tasks that you must complete today and knock them out of the park before noon. After that the rest of the day is easy.
- If you touch something on your desk, deal with it, don’t shuffle it. Finish it, File it, Fix it or Forget it. The best way to forget something is to place it in the trash and be done with it. Have a basket for your filing and do it all at once at days end. Tidying up the office helps bring order to the mind.
- Set aside a couple of hours each day for profit calls. These can be over the phone or face to face. Face to face is better. Face to face makes you feel better. Face to face gives you either instant gratification or the knowledge that a problem exists.
- Get your face out of your electronic devices. We live in a world where we can communicate anything to anyone in an instant. Don’t miss out on life because you forgot to look up from your keyboard, PDA, cell phone or other electronic device.
- Read a book a week. Fiction or Non Fiction is not the issue. Reading improves your language skills. It helps you understand another person’s view point or skills. Whatever you do READ!
- Eat healthy and avoid comfort food. Comfort food makes us feel secure and lets us hide from our problems. Face your problems and eat to live. Do not live to eat.
- Exercise daily. A 20 minute walk. Some time at the pool. Whatever it is, go do it. The brain needs to rest while the body works. Give your brain a break and generate some endorphins to help your attitude.
- Be thankful. If you have family that loves you, a roof over your head and food to eat, you have everything you need. Be thankful for it.
- Most importantly. Be generous. Be graciously generous with your time, your talents and your treasure. Follow the 10/10/10 rule. 10% of your income is for retirement, 10% is for celebration and 10% is for charity. Learn to live on 70% of your income and the rest will be a blessing.
Good Luck and Good Investing