The 'Big 3' Mistakes New Investors Make(And Their Fixes)
- Feb 3, 2015
- 2 min read
Don’t expect to be perfect. The mistakes people make when building new business are similar to what someone experiences trying to run a marathon for the first time. Your first deal is not likely the one that makes you wealthy. It will take continuos effort and the will power to stay the course
Don’t get paralyzed by your fears. “We see new people get paralyzed by their worries about what’s coming,” “What happens if my deal is not accepted? What if my deal is accepted but funding is not in place? What happens if I grow too big and need to change company structure?” These and a thousand other questions won’t matter if you never get your Real Estate Investing business off the ground, worries often stop prospective entrepreneurs from building any business at all. Worrying prematurely will sap the valuable motivation you’ll need to pull you through the long road to success.
Don’t get derailed by your first setback. “We see far too many new fired fired up with ambition that fades away with the first inevitable obstacle.When building your business, understand that you will experience issues on a day-to-day basis. There will be customer service issues, product and inventory problems, employee issues. At one time or another, every area of the business will feel like it’s falling apart. This is the strain that comes from building something that’s never existed before by someone who’s never done it before (that’s you), But also know that after you work through the pain and the bumps in the road, the freedom you gain from knowing you will never have to depend on someone else for your financial freedom is well worth it.