“It’s a little like wrestling a gorilla. You don’t quit when you’re tired, you quit when the gorilla is tired.”
~ Robert Strauss
Markets rise and fall. Media stories come and go. Emotions intensify and subside. All of these ebbs and flows can affect your real estate business in ways that may surprise you.
Perception vs. reality: understanding your risks
In today’s information-overload environment, it is hard to ignore the buzz all around you. What you hear about the financial markets, the economy, or even what’s going on in your family or neighborhood, contributes to your perception of the world. But it’s important to distinguish between perception and reality, especially with a 24/7 “news” cycle focused as much on the tantalizing and emotional as the credible and factual.
In reality, the risks in real estate haven’t changed much over the years, although your awareness of them may change with your own experience. The biggest risks in our business are NOT the economy or what homes are or are not selling for in Athens, Georgia. Frankly I don’t care. You shouldn’t care.
Typically life events (changes) that can get in the way of your personal goals and ability to perform your daily activities, such as illness, accident, divorce, death, loss of employment by spouse, etc…etc… These events impact your income your assets and your ability to stay focused on running your real estate practice more than you think. Take little time and forethought in preparing for the future and protecting your number one asset: YOU!
This needs to be part of your critical business planning and thinking. A look into the future…YOUR future would show a need to protect your capability to run and operate your business and the daily activities it requires to function. If you can’t work, your store can’t open. Who watches the business while you tend to the personal matters? What happens if you’re in a car accident? Do you have some type of disability plan or accidental coverage?
Your number one asset isn’t the market, it isn’t your smart phone or iPad. It isn’t even your car! It is YOU! Take control of your business and start seeing it as just that, a business.
You need to protect against those risks, all risks. You also need to protect yourself from letting the outside environment influence your thinking without considering your individual circumstances.
Beware of these risky perceptions that misinterpret reality. Control the only thing you can control. YOU!
“The man who views the world at fifty the same as he did at twenty has wasted thirty years of his life.”