How to Bust a Slump in Real Estate

If you strive for perfection in real estate investing, you will never get started!

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Steps

  1. If you feel your energy level sliding, or if you are losing your motivation, here's a simple strategy that will help you get back in the game.
  2. Maintain a list of small, meaningful tasks that need doing - things like replacing a light bulb, writing a letter, or returning a phone call. Take out your list when you feel a slump coming on and take care of one of those tasks. You will be out of your slump by the time you have completed it.
  3. Why? Because you will have "stepped back" to catch your breath. Plus, accomplishing even small tasks is energizing. Results are always good!
  4. Don't let perfectionism be a trap or hold you back from working toward your goals.
  5. If, for example, you have to get a winning sales letter in the mail to achieve one of your business goals, the only thing you can do is take a shot at writing it. Write your letter and test it. Aim for good. Once you receive the test results, you will be ready to aim for better, because you will have more information to work with.
  6. Apply the 90 percent rule to every task you take on to avoid the stealth of perfectionism. Let's say you have been slaving away at a project. You've been putting in long hours, and wearing yourself out. As a result, you are beginning to neglect your other job responsibilities - and even your health. This is a definite sign that you are being a perfectionist. It's time to put the 90 percent rule to work. Say to yourself, "Have I achieved 90 percent of what I was aiming for with this project? If not, I will continue to work on it. If so, I move forward." Now this doesn't mean that you don't pour 100 percent of your energy and attention into important tasks. It just means that you stop trying to perfect every tiny detail.
  7. Stop striving for perfection because it is too time-consuming and limiting. Implementing the 90 percent rule much earlier, allows you to complete far more projects a lot quicker.
  8. Consider "the bigger picture". This helps you to push to move your goals forward. That's why 90 percent means good to go!
  9. Don't waste time and energy striving for perfect. Do the best you can. Then take time later to fine-tune your work.

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