Can you avoid shiny objects?

Wait a minute! I can only have one?

In our daily conversations with new investors we find consistent and repeated trends. One of the most common trends – at least for those that have not reached their goals – is Shiny Object Syndrome.

Shiny Object Syndrome is the malady of always looking for the next “best” or “new” thing instead of focusing and executing on a proven business plan or goal.

The man who chases two rabbits, catches none

– Confucius

Activity is not Productivity

Many times we get into pure activity mode and confuse activity with productivity.

Activity consumes your time and energy. Productivity – at least in commercial real estate investing – is repeatedly doing the right things to achieve your goal.

Simply put, to be productive you must avoid Shiny Objects.

Focus Matters

We work with investors that have $2,000,000 in equity spinning off $25,000 a month in cash-flow and we also have worked with individuals who have the exact same balance sheet, but have negative cash-flow every month.

What we’ve noticed time and time again: those that don’t have the results they want simply aren’t focused on the right things.

What is your goal?

There are more than a hundred ways to make a million dollars in real estate. And we know successful people in almost every segment of the market, even in today’s economic conditions.

Still, your success will depend on your goal.

Do you want to hustle 60 hours a week to make $10,000 per month? Or do you want to work 5 hours a week to make $10,000 per month?

Do you want to take a month off and still get checks in the mail?

Cash Flow gets us what we want (and it isn’t 60 hour weeks!) and as a result, that’s what we’re focused on.

Focus is not optional

Success in real estate has far less to do with formal education or who you know – although these things can help tremendously when you are focused. It’s about consistent effort every week on the right things to reach your goals.

You can try an appreciation play here or a land-banking play there.

You can help with your brother’s first rehab project one month, then purchase a special private bond that is “guaranteed” to double in 60 days, etc.

This type of intellectual zig-zagging is a perfect example of activity, and is the total opposite of productivity.

Plan to Avoid Shiny Objects

It’s not often that you will be told in life that boring is good. In real estate however, nothing could be more true. More often than not, the things that make you the most money are the least sexy and exciting.

A carefully thought-out plan reviewed on a consistent basis keeps you on the productive path and away from Shiny Objects. If you ignore the Shiny Object and instead focus on building a stable yield producing portfolio:

  • Your monthly income will increase.
  • You won’t have wild swings in income.
  • You won’t wish you had the income to match your net worth.

Your bank account, and more importantly your family, will thank you for it!

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