Quietly Think – Really Think – About Your Business Every Day

08 Sep Quietly Think – Really Think – About Your Business Every Day

“Thinking is the hardest work there is, which is probably the reason why so few people engage in it.” – Henry Ford

In his book How to Become CEO, Jeffrey J. Fox writes, “Spend one hard hour every day planning, dreaming, scheming, thinking, calculating. Review your goals. Consider options. Ponder problems. Write down ideas…Do this every day. Do it at a scheduled time. Do it at a desk or working table. Do not do it while driving or jogging. Don’t do it while shaving or showering. Don’t plan on this kind of thinking at work; you will be interrupted.”

Regardless of whether you are new to real estate investing or have done it for decades, you are the CEO of your own business. Part of the CEO’s job is to think, and decide. It could be about strategy, or tactics, or both.

Questions to ponder can include:

• What is the next big thing for me this year?
• How can I leverage my time? Who can do some of the things that I previously did myself?
• What forms of financing have I not tapped into yet? What is holding me back?
• What training and skills do I need?
• How could I extract more money from my properties?
• What tax advantages am I not fully taking advantage of?
• Who else should be an advisor to me as I grow my business?
• What is my exit strategy?
• What am I doing all of this for? Who am I doing all of this for?
• How can I provide more value for my tenants so they are willing to stay longer and pay more?
• How can I standardize my flip projects so that I create synergies and efficiencies to make more money, faster?
• What checklists, procedures, and systems must I implement to prevent costly oversights?
• What books do I need to read? What podcasts do I need to listen to?
• What is an untapped market that I should be exploring?
• What is another way to find great deals?

Questions are the answer. By asking better questions – during quiet, scheduled times – you will attract better answers. When you get better, your business gets better. As the CEO of your real estate enterprise, you are responsible for taking time to think, and decide.

Tai DeSa is a graduate of The Wharton School of the University of Pennsylvania.  He became a full-time real estate investor in 2004 after serving in the U.S. Navy.  Tai has made colossal mistakes in investing (and learned some things along the way).  He has owned over 200 properties with various investment partners, and he has been involved in over 200 more transactions as a real estate broker in both Pennsylvania and Tennessee.  Tai and his wife Amira enjoy hunting for investment properties.  Contact Tai if you need some consultation on real estate investing.  Tai may be available for coaching and speaking engagements on a variety of real estate topics.  Send an email to tai@investandtransform.com.  Tai is passionate about helping investors make money and avoid mistakes.