Learning from last year.
I am a goal-oriented person and I always write my goals at the beginning of the year. But before I make them, I figure out what I did right and wrong during the previous year and use that info to define my new goals. Failure is only bad if I don’t learn from it. I’ve heard before that you should hurry up and fail so that you can move forward to success. Figuring out what my weaknesses are and the mistakes I made during the past year, helps me be better prepared to succeed with my new goals.
One of the biggest problems I encountered in 2008 was waiting too long to do something. I don’t really see this as procrastination, but more a matter of timing. Right now we’re in kind of a nail-biting situation because I waited too long to put a commercial property on the market. Part of it was an emotional tie. I really couldn’t see anyone else taking over our jobs as landlords. We sort of feel like parents to the assortment of tenants that live there, and I didn’t want to stress them out with a new landlord. I thought that getting the guy who owns the property to extend the loan would be easy and I made some assumptions that I shouldn’t have.
I think the lesson to be learned is to work from inspiration. To think things out in a better way, and to move when I am inspired, instead of questioning the inspiration. The smart thing to have done was to put the property on the market in July. All of the good things that we had done there were done. Then we would have had the cash to put into the house that we financed for our son a year ago. And we would have been able to put his house on the market without going into debt like we did. So I got a very pointed lesson in speed and why it is important not only in real estate, but in many aspects of business, especially self-employment.
Then I see myself doing a lot of wheel spinning. But this has turned out to be productive wheel spinning if there is such a thing. Last April I decided to change the focus of my business from real estate investing and go back to my educational roots of marketing and writing. I have spent a lot of time building up that business, and I have some clients. I overcame the 10 year mind-block that I had on learning how to put up websites, and I have become much more savvy when it comes to Internet marketing. I have also found that real estate is really a passion of mine, and one that if I use a little more common sense – way more lucrative. I have decided to pay a mentor to help me get more quickly to a higher level in real estate investing. I will also be able to incorporate my newfound abilities in Internet marketing to improve my businesses even more. Over all I think that 2008 was a learning year for me, and that 2009 will definitely be an action year.