Martin Fridson, in his study of billionaires concluded there are 3 inherent traits billionaires all share. They are: inner determination, fundamental optimism, and the fundamental inability to be satisfied. Now, let me tie each to the business of commercial real estate.
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INNER DETERMINATION
I am currently reading a book, “The Ultimate Sales Machine”, by Chet Holmes. Throughout the book he is fond of pointing out that the main ingredient necessary for success is: “pigheaded discipline and determination”.In our industry this couldn’t be truer! Over the years I have seen that the most productive commercial real estate professionals are the ones who are disciplined to do what it takes to be successful and they have an inner determination the other 95% don’t.
The truth is, today commercial real estate professionals are blaming market conditions for their lack of productivity rather than asking what action is required for success in today’s “new marketplace”.
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ABSOLUTE OPTIMISM
Many commercial real estate professionals would like to take a six-month vacation at this point. They are holding onto the belief that they won’t get too much done in this market so their actions match that belief.The fact is, deals are getting done. Those commercial real estate professionals that are able to take a step back, identify what they currently need to be doing to attract new business and then do it – are getting deals done.
They are able to maintain the view that this is a time of tremendous opportunity and are further seeing to it that they are a participant in these opportunities.
They are able to remain optimistic!
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THE FUNDAMENTAL INABILITY TO BE SATISFIED
Billionaires never reach the point where they have accomplished everything they’d like. Before a current goal is met, a new one has been set. They have an uncanny ability to continually visualize where they’re heading and what action is required to get there.Maybe you don’t aspire to be a billionaire but should that stop you from thinking like one?
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