The start of a new year brings new years resolutions and new goals for many of us, so why is it that some things never change, and what can we do to pick the right project, take the right actions and get the results we want in 2016?
I’m not a great believer in new years resolutions as we often set these on a whim, yes with good intentions, however they are predominantly set with very little thought as to why we chose them as our resolutions, or the impact they would make when we achieve them. Without an emotional understanding of why you want to achieve something, it is all too easy to give up when the going gets tough or you hit some obstacles along the way, as you undoubtedly will if you are doing property projects. If it were easy, everyone would be doing it !!
So how do you make sure of the following? Firstly that you start the year the way you mean to go on, and secondly, you get the outcomes you had intended from your year of effort and challenges.
Doing some in depth goal setting, can make a huge difference to the outcome. The key to setting goals is that you will take action, and not give up until you achieve them, is to understand firstly what it is you want and when you want it, however most importantly you need to understand WHY you really want this goal and WHY you want it within the timeframe you have set. If you understand your reason for doing what you are about to embark on, there will be no challenge or obstacle to0 big and you will do everything it takes to achieve the goal you set.
By understanding the reason why you are doing something, this will take your goal to an emotional level that will help you though the tough times. However it will also help you make clearer and less emotional decisions when faced with all sorts of different opportunities.
There are so many different types of property projects out there, and by understanding why and what you need to do will help you narrow down the right project.
If for example you need to generate a lump sum of cash within a short timescale, you will stay focused on projects that you can buy at the right price yes, however more importantly you will need to make sure they have a simpler and short timescale renovation, as well as being in an active property sales market, to ensure you can turn your project around and sell it quickly to generate the capital you need within that short timeframe.
Being clear on your goals for the year will make your decisions and actions so much easier, and getting a support team around you will make all the difference when things don’t quite go to plan. Check out some of our other blogs to get tips on the right type of projects for you.
For more information on how we can help you on your property investment journey, why not come along to one of our local property meetings, or book a free coaching call with one of our Property Mentors to discuss any areas you need help with. Visit the free resources section on our website www.thepropertymentor.com or call us on 01244 760213.