102: Focus – Friday Fundamentals

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We all have our own ideas of what focus means to us. But what does focus really mean? Focus – a point of concentration (Merriam-Webster).  Focus can also be summed with with the acronym – Follow One Course Until Success.

In today’s age, we have the  world at our fingertips. With a few correctly positioned taps on your iPhone, you can access almost anything you could imagine. The correct sequence of taps will result in an Uber at your door step. Want to know the population of yaks in Nepal? No problem.

With a world of information, and unlimited resources at our fingertips, it can be hard to keep focus on one thing.

Real estate investors are not immune to this, and have their own set of challenges. There are many ways do real estate, from flipping houses, to buy and hold, storage units, and syndicating large apartments. So how do you maintain focus with all of these options?

To focus, you must first determine what you are going to focus on. I know, this sounds simple, but it’s the foundation to keeping disciplined. This goes back to determining your reasons why. Ask yourself the following questions:

  • What do you want to achieve?
  • How do you want your life to be?
  • What types of sacrifices are you willing to make?

When you understand your reasons why, you can then focus on the right things. Keep your focus on the big picture. Then, take steps to get you there.

With so many options at your finger tips, it can be easy to get side tracked and lose focus on the big picture. There’s always something newer, better, and shinier than the current thing. Don’t get caught up chasing the latest shiny object.

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