Whether in real estate investing, starting a new business, or even simple tasks, life can be broken down to three simple questions. These questions act as an ultimate guide for your path and your reasons for going forward.
Question #1: What’s Your End Goal?
What is it that you want and where are you going? This question is
simple. What is your end goal? Is it to make $100,000 in passive income
annually? Is it to build income and deposit enough into an annuity so
you can retire in Fiji? If you don’t know what your end goal is, it is
unlikely you will move towards anything. People have a motivation, a
reason for moving forward to the goal. But without the goal, the reason
fades, and you float along.
Your end goal can be anything and doesn’t have to revolve around
monetary goals or even real estate. Real estate investing might be the
vehicle, but the end goal might deal with a desire to open up an animal
shelter and live out your days assisting and rehabilitating abused
animals.
The question is an important one. What is your end goal? You need to
know where you are going to you know what you need to do to get there!
Question #2: What Actions Will You Need to Take?
Once you have that end goal and you are determined to reach that
pinnacle, you need to ask yourself this question and reflect on it
daily. What are you doing to get to where you want to be?
Having the goal in mind is all well and good, but getting to the end
goal requires work. No one has ever tripped and fallen into their end
goal. It is through hard work and working smart that we can move closer
and closer to achieving our goals.
So, what are you doing today to reach your goals? In real estate, it
is a numbers game. How many people have you added to your database
today? How many phone calls have you made today? How many drive by looks
at prospect properties have you done today?
And items don’t need to be based on a daily schedule. How many
contracts were written this week? How many deals did you close this
month? The real item behind this question is accountability — keeping
yourself accountable so that you have the path and the means to reach
your goals. Without checking on a regular basis what you are doing and
without taking proper strides to get there, you will never reach your
end goal.
Question #3: Why Are You Doing All This?
Alright, you have your goal, and you have your knowledge of what it
will take to get there. But what is the reasoning? What is your “why?”
I’ve covered this in some of my videos, and it is important. What is
your reason for being, and what is your reason for pursuing that end
goal you found?
Some people are motivated by a sense of financial freedom, and that
is great, so long as it works. So long as it is why you get out of bed
in the morning motivated and active, as opposed to slow and sluggish,
dreading what the day has in store.
Is it your wife and kids? If so, what specifically? Is it to be able
to send your kids to college without debt and to pay for your daughter’s
(eventual) wedding? Is it that you want to be free from the daily grind
and spend your day honestly doing what you want?
This question has a similar revolving theme as the others. If you
don’t have a handle on this question with a proper answer, you may find
yourself drifting along aimlessly — and getting nowhere fast. Is that
what you see for yourself? Is that what drives you? To float along,
working a regular grind, possibly living paycheck to paycheck just to
get by?
Of course not! But you need to ask the question of why you have that end goal and why
you need to follow the right path, doing the right things day in and
day out. You will find that you no longer hit snooze. You no longer
dread getting up. It becomes natural. For some, what they find is that
they get up earlier and quicker. They have more energy. They have more
motivation and are generally happy.
Sources: http://www.biggerpockets.com/renewsblog/2015/05/16/3-important-questions-entrepreneurs-ask/
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