Years into owning my own business, there are countless lessons that I’ve learned along the way. Whether you’re looking to enter the world of real estate investment, or if you aspire to run your own business in some other industry, I believe there are some universal lessons that can benefit everyone.
Use these lessons to pave your own path to success.
1. Don’t be scared
Have you ever not done something because you were too scared to do it? Owning a business is a leap of faith. The fact is that you can’t be scared if you ever want to get your business off the ground and running.
This is the number one rule of anything in life. While every decision comes with risks, and going into the unknown can be uncomfortable, don’t let fear stop you from acting.
Make a plan and stick to it. Adjust along the way. What’s most important is that you take that very first step. Otherwise, you never know what lies ahead for you and your brand.
2. Work your ass off
Despite what you may have read on social media, there is no “get rich quick” scheme. If you go into this thinking that money will be falling from the sky and your bank account will explode overnight, you’ve got things all wrong.
Instead of waiting for success to fall into your lap, work for it. To be successful means being willing to do whatever it takes to get to where you want to be. I believe that any business owner can be successful with grit, dedication, and by looking ahead.
As long as you’re afloat long enough to see around the corners, you can deal with any issues that may come your way. The only way to get through roadblocks and unexpected twists and turns is by working your ass off.
Not ready to give it your all? Get an easy job and see rule #1.
3. Cash is power
As a business owner, you’ll quickly learn that cash is power. The more cash you have, the more in control you are. Throughout your journey, you want to be in the driver’s seat so that you can make decisions.
Don’t fall into the trap of taking bad offers because you’re worried about running out of money. This only shows that you’re scared and letting fear drive your decision making.
You don’t have to have millions of dollars to your name to be successful. What’s most important is that you have your personal finances in order along with enough cash to cover any contingencies in the event that something goes wrong.
You must also have a healthy savings account (or emergency fund). Things don’t always go as planned. If you’re ever in a situation where money isn’t flowing for a few weeks, or months, you need a financial safety net.
At the same time, you don’t want to get too stuck on the idea of saving. Getting into a cycle of continuous savings because you fear you haven’t saved enough all but guarantees that you’ll never act.
Sit down, figure out your budget, save what you need, and then see rule #1.
4. Base hits win ball games
Home runs and grand slams are exciting, but the fact of the matter is that base hits win ball games just the same. A score is a score. If I could get on base every time with a bunt, I would do it without second thought.
The point is that trying to always hit home runs and make big plays in real estate, or any industry, will ultimately lead to disaster. If you know you can get on first base every single time, why not do the sure thing over and over?
As you get a few accomplishments under your belt and have mastered rule #3, you’re in a better position to take more risks and swing for the fences.
If playing it safe seems too boring, see rule #1.
5. See rule #1
No, one isn’t my favorite number. What I’m trying to emphasize here is that you can’t get past the starting line if you never kick fear and worries to the side. Being a scared business owner all but sets you up for failure.
This is truly the best piece of business advice that I can give. Scared and success don’t mix.
If you have a dream and a passion, go for it! Damn fear and worries and anxiety. Get your ducks in a row and take the leap. You can’t accomplish anything if you don’t take the first step.
Think these lessons are just words? Think again. Larossa Construction continues to have massive success in the REI industry. Let's chat about how you too can pave your path to success. www.larossaconstruction.com/contact