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"The most essential factor is persistence - the determination never to allow your energy or enthusiasm to be dampened by the discouragement that must inevitably come." ~ James Whitcomb RileyThis quote rang true to me Wednesday morning when trying out something I'd never done before - slacklining.
As I fell again and again - and again - from the slackline outside behind my rock climbing gym, I noticed that I kept laughing, smiling and getting right back on again. Even though the tight, static webbing beneath my feet went even tauter as I weighted it, and even though a misstep in balance was punished by the unforgiving force of the line rocketing me to one side, I kept getting back on.
It's like how in real estate investing you make an offer, and it might get rejected. You might make 10 offers and have them all get rejected. You might make an offer, get it accepted, and then watch the deal fall apart.
But should that stop you?
I remember when Sheila and I first got started investing in real estate, we'd send out our mailings, drive door to door, make follow up phone calls, get appointment after appointment, and make offer after offer.
The simple fact is that not every piece we sent out got a response. Not every appointment turned into an offer and not every offer turned into a deal.
In real estate marketing - and in sales, too - it's a numbers game. For every x pieces you send out, you should expect y calls. For every y calls, you should expect z appointments. For every appointment... you get the idea.
When we moved onto 100+ unit multi-family real estate, we'd review between 100 and 150 potential and qualified deals a month. Of those, we'd make offers on only a handful, and of those, we'd put one deal under agreement every few months.
If we stopped at the first deal or the first "no" or the first road block, we wouldn't be where we are today. It's about persisting on, and keeping at it, getting better every time.
So remember, the next time a seller rejects your offer, and throws you hands flailing down to the ground, it's not about walking home with a skinned knee. Smile, get back up there, and do it again.
I know I'll be back, trying to slackline again. I still haven't gotten all the way across without falling, but I'm getting close. I know from experience that every time I get back up... I get a little better.
The simple fact is that not every piece we sent out got a response. Not every appointment turned into an offer and not every offer turned into a deal.In real estate marketing - and in sales, too - it's a numbers game. For every x pieces you send out, you should expect y calls. For every y calls, you should expect z appointments. For every appointment... you get the idea.
When we moved onto 100+ unit multi-family real estate, we'd review between 100 and 150 potential and qualified deals a month. Of those, we'd make offers on only a handful, and of those, we'd put one deal under agreement every few months.
If we stopped at the first deal or the first "no" or the first road block, we wouldn't be where we are today. It's about persisting on, and keeping at it, getting better every time.
So remember, the next time a seller rejects your offer, and throws you hands flailing down to the ground, it's not about walking home with a skinned knee. Smile, get back up there, and do it again.
I know I'll be back, trying to slackline again. I still haven't gotten all the way across without falling, but I'm getting close. I know from experience that every time I get back up... I get a little better.
When not investing in real estate or helping other investors get into the world of investing, you'll likely find Jeremy on the face of a rock, or aiming his camera's lens at fellow rock climbers on the rock. Credit for the slackline photo above goes to my friend, fellow climber and fellow photographer, Nick Croken. You can see more of Nick's work on his website, RedLinePhoto.ca.
Great analogy between slacklining and persistence.
Miley has a song on youtube entitled,"The Climb".
See you at the top!
Caral