Tony Robbins says, “Success leaves clues.” While there is a common thread running between successes, the same logic applies for failures as well. Trevor McGregor, who is a master coach with the Tony Robbins group, has over 10,000 hours of experience coaching real estate investors, so he is very familiar with both the common investor roadblocks, as well as the tools to overcome them. In our recent conversation, he provided the 5 reasons why investors are not scaling their businesses and the 5 keys to reversing their fate and pushing to the next level.
5 Reasons You Are Not Scaling Your Business
Lack of Clarity – You don’t know who you are or where you want to go. You don’t know what you want and you don’t have a blueprint, recipe, or roadmap that can take you from where you are to where you want to be. You haven’t sat down and, with the end in mind, reverse engineered how to achieve your goal. Therefore, there is a lack of clarity in terms of the what (i.e. goal), as well as the how (i.e. the steps).
To be successful in anything, you have to do the right things, in the right order, and at the right time. It is like building a skyscraper. You cannot feasibly build floor 5 without first building floor 4. You also can’t successfully build a skyscraper if you don’t know why you want to build it. Similarly, in real estate investing, you must get clear on what you want and why you want it.
Fear and Disempowering Stories – Many investors have disempowering stories that are continuously repeated in their minds about why they can’t move forward and buy that next property, or hire a property manager, or find that next investor. They always focus on what is wrong. What’s wrong is always available, but they forget that so is what’s right.
If you can’t deal with the doubt, fear, and anxiety and take action in spite of it, you won’t be able to grow your business.
Lack of Consistent and Persistent Action – You don’t understand nor appreciate the importance of getting out there, analyzing deals, running the numbers and making offers. As a result, you are cheating yourself out of learning and putting yourself in the position to conquer what you set out to do. While there are times when you need to be patient, if you aren’t putting one foot in front of the other on a daily basis, you aren’t going to get to where you want to go.!
Lack of Leverage – For a lot of people, they don’t have enough big, fat, compelling reasons why they want to be a real estate investor in the first place, or what it will give them, or how it will impact their lives, their families lives, investors lives, and everyone around them. If you aren’t finding leverage or a purpose behind what you are doing, it leads to an interest, but a lack of commitment to go out there and make it happen, which based on Trevor’s experience, isn’t enough.
Lack of Accountability – You don’t have somebody holding your feet to the fire to make you follow through with what you say you are going to do. So often times, you follow the path of least resistance and cheat yourself out of what could have been.
Advice in Action – Take a look at these 5 reasons and be honest and clear with yourself on which of those are holding you back. If you can get past those, you can start to move in the direction that you really want!
The 5 Keys to Push to the Next Level
Now that we know what not to do, the next question is, “what should we do in order to conquer every day in pursuit of building an amazing real estate portfolio?” Before getting into the 5 keys to push to the next level, it is important to understand that it is never a matter of resources, but rather, it is a matter of resourcefulness. In other words, it is about YOU.
If it was just about resources, everyone would be a successfully investor. The resources are available to all of us, so it is about your ability to take action and use that information to scale and grow your business. The person that isn’t resourceful is full of “should” statements, while the resourceful person is full of “must” statements. Therefore, the following are the 5 keys that you must follow to push your business to the next level.
Feed and strengthen your mind for 30 minutes a day – We all have 30 minutes a day to listen to podcasts, read a book, go to a seminar, etc. According to Trevor, this will start to get your neurons firing like a successful investor. So, you want to feed and strengthen your mind for a minimum of 30 minutes a day.
Get the clarity you need – Grab a pen and paper, sit down, get quiet for a minute, and let your mind get clear on what it is that you truly want. If you don’t know what you want, start going to networking events, listen to more podcasts, and read some books. Do whatever you need to do. When you are resourceful, there is always a resource that will help you get clarity on what you want.
Create leverage – What is your why? What is your big, fat, compelling reason that is your MUST? This is the rocket fuel that keeps you going when times get tough. As you create this vision of who you want to be and what you want to manifest, get absolutely clear on your why.
Get yourself an accountability partner – Pick an accountability partner that is excelling in whatever it is that you want to do.
Take massive action – Absolutely nothing happens in real estate unless you are out there taking action and making it happen.
Trevor’s final piece of advice: “All growth occurs outside of your comfort zone.” If any of this feels uncomfortable, that is probably a sign that you need to stop, reflect on it, get honest with yourself, and start doing some of the things that you MUST do to take your business, and life, to the next level.
Comment below: Which of the 5 roadblocks are you currently facing in your business, and which of the 5 keys to you need to apply in order to overcome them?
Disclaimer: The views and opinions expressed in this blog post are provided for informational purposes only, and should not be construed as an offer to buy or sell any securities or to make or consider any investment or course of action.