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It's no secret that success doesn't come to us easily. For most of us, at least. It's something that must be greatly desired, valiantly fought for, and often eventually sacrificed for.
That’s why we recorded an entire podcast episode on achieving great things, where Spencer walks through three principles for property managers to consider on their path to creating great companies. According to Spencer, “it takes persistence, never quitting, and the 'why' in this mindset. These factors can help you actually get what you want in life."
So, are you ready to get what you want in business and beyond? You can listen in to that conversation here, or simply read on for top takeaways.
Let’s dive in!
Your "Why": The Heart of Your Real Estate and Property Management Ambitions
In the realm of real estate, understanding the core of your motivation is not just beneficial—it's crucial.
This is where Spencer recommends you try the "seven levels deep" exercise. It's a simple yet profound method where you ask yourself "why" seven times to peel back the layers of your goals.
For example, maybe you want to bring on 50 new doors this month. Why?
Maybe it’s because you want to make more money. Why?
Dig deeper and deeper to eventually reveal your true motivations.
For instance, when Spencer set a marketing target for Evernest, it wasn't just about numbers; deep down it was about the drive to be a part of something significant and to instill pride in his family. "I want my kids to see that no matter what happens in life, little by little, you can achieve something to be proud of," he says.
This introspection is more than just an exercise; it's a revelation of purpose that fuels your drive and resilience. You’ll need to get crystal clear on these motivations before moving forward.
Patience: The Virtue of Cultivating Long-Term Success
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In today's fast-paced culture, patience is a virtue that's often overlooked. But it's a cornerstone of building a lasting business.
Patience is about playing the long game. Ultimately understanding that the road to success is a marathon, not a sprint.
Spencer has seen this firsthand in our founder and CEO, Matthew Whitaker. Matthew’s dedication to nurturing relationships and seizing certain opportunities ultimately led to our expansion into new markets. It definitely didn’t happen overnight, though. It was all about waiting and watching for the right time and the right opportunities.
Remember: the most impressive achievements are often the ones that take time to unfold.
If and when you find yourself getting impatient, find ways to slow yourself down. This might include taking a clarity break or otherwise mentally returning to the big picture.
Persistence: “Relentless Forward Progress” in Real Estate
Drawing inspiration from Og Mandino's book, The Greatest Salesman in the World, Spencer has come to realize that persistence is not just an action but a mindset.
It's about the "relentless forward progress" mantra that saw him through a grueling race, a philosophy that applies equally to the challenges of real estate and property management.
Remember: this industry is not, and never will be, linear. The ups and downs are a fact of life, so you’ll need to hone your skills in persistence.
Here, persistence is all about reinforcing your mental fortitude daily, ensuring that you remain steadfast on the path to greatness.
Community and Support: Embracing the Journey Together
Perhaps most importantly, PMC owners need to remember that building a successful business is not a solo endeavor. It's a collective journey that only thrives with community and support.
As we navigate the complexities of property management and real estate, it's essential to lean on the resources, connections, and encouragement from others within the industry.
Together, we can build relationships to resist the temptation of instant gratification and focus on nurturing sustainable growth.
Final Thoughts: The Path to Achieving Anything Great in Property Management
Essentially, the path to a thriving real estate business is paved with the understanding of your "why," the cultivation of patience, the unwavering persistence in the face of challenges, and a strong community.
“You set your targets for the year, you get very clear about what you want to achieve, how you're going to achieve it, and then you just commit to the process," Spencer says.
That’s ultimately why we launched the Evernest Property Management Show in the first place! Keep an eye on our podcast here, as we explore these principles in depth and build a community of like-minded professionals committed to excellence.
Ready for More?
We know what it’s like to grow a property management business from 30 doors to more than 16,000. The journey was anything but easy, and we learned tons of lessons along the way. Our desire to share that knowledge with you motivated us to start the Evernest Property Management Show podcast, a weekly newsletter, and our monthly webinar series for property managers.
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