Brian Tracy on the Power of Self-Esteem and Goal Setting

We’re live on the mic with legendary success trainer Brian Tracy. He’s sharing timeless … and proven … pearls of powerful, high-performance wisdom. 

Success leaves clues and patterns behind for others to follow … which means real estate investors and entrepreneurs can apply successful thinking and behavior to achieve greatness faster. 

Tune in as we talk to a true titan of peak performance training! 

In this episode of The Real Estate Guys™ show, hear from:

  • Your clued-in host, Robert Helms
  • His shoe-in co-host, Russell Gray
  • Success trainer, Brian Tracy

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Meet Brian Tracy

What are the things that can make you successful as a real estate investor? 

It’s not the map. It’s not the market. It’s not the metrics … It’s you. 

Today we’re talking about the undeniable power of self-esteem and goal setting. Part of being a real estate investor is really understanding and motivating yourself as a person. 

Brian Tracy is an icon in personal development. 

When some people think about personal development, they think about people that give motivational speeches … but really it’s about pragmatic training. That’s what Brian does. 

Brian teaches people how to manage their psychology … because what you think and believe affects your behavior … and your behavior affects the results you produce. 

What you set out to learn should not be how to invest in real estate or how to be successful in business. It’s how to be a successful person. 

Brian has produced dozens of audio and video programs. He has also written more than 85 books … and he is sharing some of that valuable knowledge with us today. 

The secret is self-esteem

Brian always talks about the fact that there are distinctions between people who are successful and those who aren’t. 

These are things that people who are looking for success … in real estate investing or in any area of life … can focus on. 

Everything in life is about self-esteem. 

Self-esteem is defined as how much you like yourself, how much you respect yourself, and how much you appreciate and value yourself. 

You become what you say to yourself. The magic words are, “I like myself.” 

When you say, “I like myself,” you feel happy inside. You feel good. You feel valuable and important. 

Aristotle said that all human activities are aimed at one great goal, and the goal is happiness. 

So, everything you do either raises or lowers your self-esteem … and your happiness. Nothing is neutral. 

Start with the end in mind, and ask yourself, “If my life were perfect and I was really happy, what would it look like? And how would it be different from my life today?”

What would you do more of and what would you do less of to be happier? What would you start doing that you’re not doing today? 

If you want to be successful in life, associate with people who raise your self-esteem, who make you feel valuable and important. 

Simultaneously, you should do everything possible to raise their self-esteem and make them feel valuable and important. 

Listening builds trust

Another great rule of success in life, Brian says, is that listening builds trust. 

Most people don’t trust anybody who tries to sell them anything … including people who are in sales for a living, 

So, every time you ask a person a question and really listen to the answer, it makes the other person feel happy. 

When someone feels happy, they trust you more. 

Each time you ask a question and carefully listen to the answer … your trust and credibility go up and the other person’s fear of doing business with you goes down. 

Eventually, that fear drops to zero and that person is ready to work with you, because they trust you, and they know that you won’t hurt them. 

Talking doesn’t build trust. Listening builds trust. 

Therefore, the most successful people in any business … including real estate … are people who ask a lot of questions and listen carefully to the answers. 

If you feel comfortable, ask if you can take notes while the other person is talking. People feel very complimented when somebody writes down their words. 

It also gives you an opportunity to ask more questions … and when you ask questions, you get more opportunities to listen. 

Another technique Brian shares for being a powerfully persuasive person is feeding the information back to someone. 

“Say, ‘So let me be really clear. What you said was this,’ and that helps them know you really were listening, and it helps you always be on the same page,” Brian says. 

Setting and achieving goals

Brian finds that every time someone completes a task, their self-esteem goes up. 

Every time you learn something new that you think can be valuable to you … self-esteem goes up. You start and complete a project … self-esteem goes up. 

The best thing you can do to find more success is to keep self-esteem at the center. Actively search for tasks that can raise your self-esteem or at the very least do not diminish the self-esteem of another. 

Start by setting and achieving one important goal. This creates a template in your brain of setting and achieving goals. 

Because you have a good feeling from achieving one goal, you’ll want to set another … and you’ll do this again and again. 

For more success-building skills from Brian Tracy … listen in to our full episode!

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The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training, and resources to help real estate investors succeed.


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Podcast: Brian Tracy on the Power of Self-Esteem and Goal Setting

Legendary success trainer Brian Tracy joins us live on the mic to share some timeless proven pearls of powerful high-performance wisdom.

Success leaves clues … patterns of thinking and behavior that can be applied by anyone to achieve more faster … including real estate investors and entrepreneurs.

So tune in as we talk with a true titan of peak performance training, the amazing Brian Tracy.

 


More From The Real Estate Guys™…

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training, and resources to help real estate investors succeed.


Love the show?  Tell the world!  When you promote the show, you help us attract more great guests for your listening pleasure!

Real Estate Goal Setting – A New Plan for a New Year

 

new year real estate

It’s a new year—and time for a new YOU.

A new real-estate-investor you, that is.

Real estate investing is a math-based science, but it’s also an art of creative decisions.

Today, we want to help you figure out how to optimize the MATH and the ART of real estate investing to achieve both your inner and external goals.

Your inner goals are what you want for your own life.

Your external goals are what you want for the world around you.

We want to help you answer that big-picture question: How do I take who I am and translate that into what I want to do as a real estate investor?

In our latest episode of the The Real Estate Guys™ radio show we talk about setting goals and what YOU should think about as you start making your plan for the New Year.

You’ll hear from:

  • Your juiced-and-jazzed host, Robert Helms
  • His fired-up co-host, Russell Gray

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Broadcasting since 1997 with over 300 episodes on iTunes!

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Before anything else, do the math

The first thing we want you to look at when you sit down to set your real estate goals for the New Year is money, plain and simple.

For many investors, investing in real estate means getting out of the rat race.

If you do it right, being an investor can mean you don’t have to trade time for dollars!

That’s an incredible goal.

So before you figure anything else out, do this: figure out your number, the amount of monthly passive income you want or need to live comfortably.

Next, figure out what yield you can anticipate from your equity.

Here’s where it gets a little tricky. Not every real estate investor starts with millions in equity.

In fact, many start with very little. (Don’t feel you’re alone if that’s the case for you!)

If you’re a beginning real estate investor, a critical part of reaching your number is amassing equity.

Here’s an example: Investor John figures out that his number is $10,000/month, or $120,000/year. He knows he can get 5% yield on his equity. That means John needs 2.4 million dollars equity to be comfortable.

Investor John isn’t a millionaire, however. He only has $100,000 to start with. John invests that $100,000 wisely and is able to grow it by 20% each year. In 18 years, John has accumulated 2.6 million dollars and reached critical mass.

18 years might seem … well, it might seem like a lot!

How quickly you grow your equity and reach that critical mass depends on how you leverage your equity. Maybe you’re a conservative investor like John. Or maybe you’re more aggressive?

The approach you take will depend on what you need real estate to do for you.

No matter your approach, here are the most important questions YOU need to ask yourself when you sit down to work out your goals:

  1. Where am I at right now?
  1. Where do I want to go?
  1. What do I have to work with?
  1. How can I begin to take actionable steps to get to my goal?

Imagine a pinball bouncing around. That’s what you look like without a plan!

Do the math, make a plan, execute your plan, and your chances of success will be much better in the long term.

Master the art of real estate investing

While crunching the numbers may be a doable science, real estate investing requires a certain kind of art: a creative balancing act, if you will.

This is because there is NO one-size-fits-all goal-setting strategy.

An important part of setting goals as a real estate investor is putting your goals (and your assets!) in three different buckets: short-term, mid-term, and long-term.

This is one way to balance conservative and aggressive approaches, to experiment without risking your whole nest egg.

Artfully balancing your assets can allow you to sustain yourself while you grow equity.

Two examples:

  1. Carol works a day job and invests in real estate part time. She uses the money from her day job for daily living expenses and sets aside the money she earns from real estate investing to re-invest so she can grow her equity.
  1. Dan has been investing in real estate for a while, but all his equity is invested. He decides to go full time and become a syndicator. He makes a living from the fees and profits he gets as a syndicator without taking any money from his own portfolio.

As you can see, Dan and Carol have COMPLETELY different approaches to real estate investing.

However, both Dan and Carol have figured out how to sustain themselves WITHOUT killing the goose that lays the golden egg, so to speak.

Internal goal setting: What do you want for your life?

A lot of real estate investing comes down to lifestyle decisions.

Ask yourself: How do I want to live? Who do I want to work for? Where do I want to own real estate? What kind of relationships do I want to form? Above all, what’s interesting to me on a daily basis? What makes me tick?

Don’t default into a situation where you’re not interested in what you’re doing.

RIGHT NOW, take a look at what you’re doing. Sit back and ask the ultimate question: Is this really what I want to do?

Your homework today is to take some alone time to imagine your career and your future. Think about how you want to spend your days.

Then sit down with a paper and pencil (or your laptop, typewriter, fountain pen … you get the picture) and make your internal real estate goals.

Like we’ll talk about in our upcoming goals retreat, every goal you make should be two things: specific and measurable.

Some examples:

  1. How many hours will I devote to education (events, podcasts, reading, conversations with other investors, etc.) each month this year?
  2. How many properties will I research each month?
  3. By the end of this year, how many additional properties will I accumulate?

Writing down a number is POWERFUL. And it’s critical to reaching your goals.

Maybe this is not a year of acquisition for you, but a year to get structured, get educated, find your markets, and assemble your team.

That’s okay!

There’s no right or wrong path, as long as you’re working on goals to get ahead.

External goal setting: what are you going to do for the world?

We talk a LOT about what real estate investing can do for you.

Another important component of investing is what are YOU going to do for OTHERS?

Most people want the world to be a better place, even if they don’t always agree on how that should be done.

When you’re creating your business, how are you going to serve the world?

Will you use your free time to volunteer in communities around you? Take your love of real estate and use it to help others?

No matter how much is in your bank account, ask yourself: Is my life rich right now?

As an entrepreneur, you may already be serving the people you work with. Maybe you’re providing clean, affordable housing. Maybe you’re creating housing opportunities where there were none before.

More real estate might increase your cash flow, but it can also help people live better lives.

As Steve Jobs has said, “We’re here to put a dent in the universe.”

Once you have an external goal, combine that with your internal goals in a sound business model with a good financial plan, and you’ll have a winning formula for a successful life.

New year, new you

Your personal goal setting will really come down to what we call zero-based thinking.

Ask yourself: Knowing what I know now, will I continue to do what I’m doing? What will I change?

Reevaluate your past year.

Ask yourself: What did I set out to do? What did I succeed at? Most importantly, where did I fall short and why?

Be BRUTALLY honest with yourself.

Did you fall short because you didn’t have the right people on the bus? Didn’t have the appropriate personal discipline? Or didn’t ACTUALLY want to complete that goal in the first place?

Examine what is possible for you.

Real estate investing should make you “juiced and jazzed,” as Robert says.

You can’t get out of bed and go to work every day if you don’t have something driving you. You need a purpose that’s true for you.

Get out in the real world. Look at other investors. Listen to them. Collect ideas. Go to events where you can meet like-minded investors.

Then get in touch with your inner investor. Develop your personal investment philosophy. Define the market and product types you’re interested in.

Form your big picture of what you want to do for YOU and what you want to do for the WORLD.

Then go out and make some equity happen.

Make this next one an amazing year!


More From The Real Estate Guys™…

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources to help real estate investors succeed.

02/1/15: Getting in Touch with Your Inner Investor – Finding Clarity in Your Investment Strategy

No one constructs a building without first making a plan.  How much more important is developing a plan to construct your investment portfolio?Every magnificent building begins with a vision and blueprint.  It would obviously be a chaotic disaster to simply grab whatever materials were within arms reach and start hammering, sawing, nailing and painting.

Yet, many investors take very little time to really think about how to design a portfolio which supports their vision for their lives.  After all, the portfolio is supposed to serve you…and not the other way around.

On the broadcast couch to peer into the how and why of getting in touch with your inner investor:The foundation of your personal investment philosophy starts with getting in touch with your inner investor

  • Your psychiatrist of speech and host, Robert Helms
  • His psychotic co-host, Russell Gray
  • The calm and sage Godfather of Real Estate, Bob Helms

Real estate investors are unique animals.  Typically deal junkies, they gravitate towards the closest opportunity and dive right into the deal analysis and negotiation.  And who can blame them?  It’s fun!

However, most of the time the closest opportunities are wherever you happen to live.  That’s fine if you happen to live a in a great market with the right mix of drivers, demographics, and supply and demand dynamics most likely to produce the financial performance you’re after.

And this isn’t to say you can’t make money with real estate in almost any market…because you can.

But being an investor is about a whole lot more than simply making money.  It’s really about building a portfolio that pays you to live how you want to live.  And this is an important distinction.

LIfe sucks when your business owns you and not vice-versa.We’ve known investors who’ve built big portfolios that hemorrhage cash flow and are worth millions.  But they get up HATING every day of their lives because they are obligated to people and responsibilities that are driving them crazy.

Of course, they can sell the whole portfolio, take the tax haircut and park all their cash in the bank at next to zero interest.  But this obviously has its own set of problems.

So we think the better solution is to (quoting from Stephen Covey’s classic book Seven Habits of Highly Successful Peoplebegin with the end in mind.

We call this “vision”…what does the finished product (or in this case, portfolio) look like when it’s perfect.  THAT’s what you’re working to build.

Of course, that’s hard work and requires much introspection and thought.  It’s nowhere near as fun as wheeling and dealing for properties.  And that’s why so few investors take the time to do it.

So what are some practical tips for getting clarity of vision?

First, think about what’s important to you.  That’s your Mission…and it has two parts, internal and external.

Your internal mission is what you want the portfolio to do for you.  It’s a common mistake to think it’s just money.  The idea being that if you just have enough money you can buy whatever lifestyle you want.Vision guides you on the path towards your goals.

That’s not necessarily true because the money machine requires operation and maintenance.  And if you build it wrong, it will require you to engage in activities you don’t really enjoy.

So think of your internal mission as how you spend your time, who you interact with, where you are or are required to travel, where you live, whom you support (dependents, charities, government), and what topics and trends you need to stay on top of.

There’s no free lunch.  You’ll need to exert effort and energy in building and managing your wealth.  That’s the bad news.

The good news is that if you build it right, it’s not work.  It’s a hobby you enjoy.

Now, your external mission is simply what you want the portfolio to do for the world.  This is what you trade to get what you want the world to do for you.

Your external mission is about how you help the worldMaybe you want to provide low cost housing or fix up dilapidated neighborhoods.

Or maybe you want to create magnificent luxury hotels that provide a 5 star experience to the uber-rich and pull money into your local economy.

Perhaps your mission is to have assisted living facilities that help elderly people stay in a real home near their family instead of being shuttled off to an institution.

You get the idea.  There are LOTS of ways to make money.  But what’s your MISSION?

You can see that when you’re clear on your mission, there are many things you might have a chance to do, but shouldn’t because they are actually distractions which knock you off course.

Values also play an important role.

For example, you could go into the business of making hard money loans to desperate borrowers with the hope of being able to foreclose and seize the property for pennies on the dollar.  Many opportunistic investors obtain wealth by taking advantage of someone else’s misfortune.Values help you decide what you are...and aren't...willing to do to make money

We’re not judging, but that’s very different than making hard money loans to help under-qualified borrowers hold onto their property and get back on their financial feet. Obviously, if your values are win-win, if this borrower gets in trouble you’re first response would be to work something out if possible…not pounce to grab the asset.

And maybe you just could never bring yourself to foreclose on or evict a family.  If that’s true, then you probably don’t want to make residential property loans or own residential rental properties.  Maybe self-storage,  or retail / commercial would be better.  You may find it less distasteful to evict boxes or a failing business.

So thinking about who you are, what you’re REALLY trying to accomplish for your self and the world, and what you’re willing (and not willing) to do, will provide the clarity you need to recognize the appropriate strategies and tactics to build a business and portfolio which fits you best.

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The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources that help real estate investors succeed.

12/30/12: Happy New Year! Your Real Estate Investing Plan

As 2012 fades into the history books and 2013 rises on the horizon of your life, it’s a great time to take a step back from the day to day hustle to think about the future you’re busy building.

Just like a sports team finishing one season and preparing for the next, it’s important to take a look back and see what worked and what didn’t, then assess where you are today and apply the lessons from the past to chart your course for the future.

Sound hard?  Maybe.  But it’s not mysterious and it’s certainly worth it!  After all, what successful business or sports team do you know that just wanders out into the future with no plan?

In studio to ring in the New Year:

  • Your ageless host, the Dick Clark of real estate radio, Robert Helms
  • Your happy hapless co-host, Russell Gray
  • The father time of real estate investing, The Godfather Bob Helms

The big picture of real estate investing and business is planning is being clear on what you want the enterprise to do FOR YOU.  This is important to make sure the business serves you and not vice versa.  So from the beginning of your planning project, take time to ask yourself what you REALLY want – in terms of lifestyle, finances, stress, etc.

Once you have your “dream” scenario in your mind, you need to take a look at the realities of your situation.  What you have to work with play a very important role in the strategies you use to build your portfolio.  People with great credit and documentable income have different options than those with poor credit who are self-employed.  Both can find success, but the paths are different.

On the same note, there are external realities which have to be taken into account.  You have no direct control over interest rates, availability of inventory, rental demand and overall economic factors.  Sure, you can look for optimal geographic markets and certainly some are better than others.  But the point is that external circumstances will open and close doors and require adjustments in your planning.

Navigating all of these variables is the art of planning.  It’s part science and a lot of creativity.  That’s what makes it so fun!

So as you look at the blank canvas of a New Year and consider what you want to build for your future, embrace the challenge of planning.  And you can start right here and now with this episode of The Real Estate Guys™ radio show!

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1/2/11: The Art & Science of Setting Goals – Utilizing All You Are to Achieve All You Want

Happy New Year!

Everyone here at The Real Estate Guys™ Radio Show wishes you and yours the happiest, healthiest and most prosperous year of your life! And to help make that happen, we decided to kick off 2011 with a unique episode on Goal Setting.

We’ve noticed that people are attracted to real estate because of the huge amounts of money that can be made with relatively low risk and front end investment.  What other investment allows you to put a small portion down, get cheap money from the bank, and then pay it off over time with someone else’s (the tenant’s) money?  And if you’re careful about the property type and area, the odds are very good that it will be worth a whole lot more than you “paid” for it down the road!

But is it really the real estate that you love?  Be honest.  For most people, the answer is no.  It’s the MONEY!  Or is it?

Most people don’t really want the money.  They want the lifestyle that money will buy!

So it’s REALLY about the lifestyle. Real estate and the resulting money are merely the tools we use to build the lifestyle.

But like a master builder, before construction starts, there is one absolutely essential tool which will make or break the project:  the blueprint!  Unless the architect provides a well designed plan, no matter how skilled the builder is or how hard he works, the project is doomed before it starts.

So it is with your life.

Most people cobble together a life, putting together a job, relationships, investments and recreation without any real cohesive plan.  No wonder so few people are living the life of their dreams.

No matter what your age, social status, income or resources, as long as you expect to be around for a lot more tomorrows, then today is the perfect time to develop, refresh or refine your life plan.  What lifestyle do you really want to build?  Only then will you know how to invest in your time, energy and money in real estate – or anything else.

So this episode of The Real Estate Guys™ Radio Show features Robert Helms, and it isn’t about real estate. It’s about YOU.  And how you can get clear about who you are, what you want and what you want real estate to do for you.  Dream big because we all have a lot more potential and resources than we realize. The secret is to figure that out early in life and get to work while you have lots of time to build something awesome.  And only you can define what “awesome” is for you.

So we recommend you grab a pen and paper (maybe some tissue), find a quiet place to listen and take notes.  Then schedule some regular meetings with you, to stay focused and moving forward toward the life you design.

In the classic words of Zig Ziglar, “See you at the top!”

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