Why Confidence is Key
“Confidence is the electricity that makes everything work” – Dan Sullivan
We tend to think of confidence as a personality trait or emotional response but it isn’t as passive or reactive as that. Real confidence is a capability and when you know how to build confidence for yourself – you can have it in endless supply.
“Life is ten percent what you experience and ninety percent how you respond to it.” ― Dorothy M. Neddermeyer
When you have confidence…
- You can achieve more.
- You have the ability to transform fear into focused and relaxed thinking, communications and action.
It turns dangers into opportunities, obstacles into innovations, weaknesses into advantages and setbacks into breakthroughs.
When you have confidence as a daily resource, you can learn anything, respond to anything, adjust to anything and achieve anything.
- Many people assume that entrepreneurs must be confident just to get by. It is true and it is also true that as your business and the size of your opportunities grow, your confidence needs to grow too.
- Even the most successful entrepreneurs can experience crises of confidence where they feel overwhelmed and unable to make decisions or take action.
“To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment.” – Ralph Waldo Emerson
Confidence is the single most important human ability – and always has been. People need to learn how to build their own confidence ability.
There are many talented educated trained people in the world who never achieve anything that others remember. Why is that? Many people don’t know that their confidence is the single most important ability they need to develop.
“Don’t live down to expectations. Go out there and do something remarkable.” – Wendy Wasserstein
There are many ways to increase your confidence:
- Silence your inner critic
- Acknowledge your inner fault finder – you cannot solve or fix a problem unless you acknowledge you have one.
One way to determine that? If your results are not what you want – something needs to change
- First thing is acknowledgement
- Focus on your strengths – what you are good at and what you like to do.
- Say kind things to yourself.
- Forgive past mistakes or challenges
- Stop comparing yourself to others.
- Take action on those things you want to improve
Why confidence is important in real estate investing
Confidence generally comes along with knowledge and/or experience. If you don’t display your confidence when negotiating deals, you will quickly lose the trust of potential JV partners. They will be able to see your vulnerability and may feel like you don’t possess the skills to skillfully navigate a lucrative deal.
Knowledge & Confidence go hand-in-hand
You don’t need years of experience in real estate investing to be able to put together great deals for investors and joint venture partners, but you will need knowledge. Spend time researching deals before ever approaching an investor — I always tell my students to analyze 100 deals before going out into the real world of investing. Knowing all of the factors that make a profitable deal will build your confidence.
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Four steps to create breakthrough results:
First you have to take a leap of faith and really commit to what you want to achieve – that is commit before you have every “t” crossed and every “i” dotted and yes it can be scary. It’s not only important to keep commitments to yourself, but also follow through on every commitment to others. Your word is your seal of faith when dealing with new joint venture partners.
Most people admire courage in others but don’t like the experience themselves. In fact this crucial step feels awful. You’ve committed yourself without having any proof that what you are going after is going to pay off. Not knowing what is on the other side of a risk van be scary – but remember, it’s only a risk if you haven’t done your research and due diligence.
Think back to one of your breakthroughs. Wasn’t it the combination of making a commitment and going through a period requiring a lot of courage that created both the new capability and the new confidence? Take stock of your strengths and build upon them. We can’t all be great at everything, but we can find a few particular areas that we know are our strengths and foster those skills and traits.
The new level of confidence you experience after a breakthrough is what gives you the ability to commit to an even bigger breakthrough and an even greater sense of confidence – And the process repeats itself. If speaking to others about what you do is something that scares you, practice at home with friends and family. Record yourself on on audio or video explaining a deal or giving your ‘elevator pitch’. This repetitive behaviour will eventually make it all seem like second nature. I used to be fairly nervous when I would do a Facebook Live or public speaking engagement, but over a short period of time it began to feel natural.
Only the courage to commit to new ideas and goals that carry zero promise of success will result in new capabilities and new breakthroughs.
Looking to find more confidence? Start with gratitude and recognizing your small victories.
For the next 30 days simply write down three wins for the day – You will find yourself looking for wins to add to your list. The act of looking for the positives will change your mindset to focus on progress rather than perfection.
The above tips can be applied to anyone, in any industry – but I always like to put an additional emphasis on these tips for my real estate investor network and my money mindset students
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