I recently read a blog by Tom and Nick Karadsa who are Canadian property investment advisers.
I tend to follow the Canadian property market, because it has some similarities to ours, but I wanted to share this blog with you because it may help you decide how to choose people to work with as you build your property investment business.
Tom and Nick said:
We’ve been in business now for six years.
Over that time we’ve been pitched, sold to, met with and approached by all sorts of people.
Some want to work with us, some want to sell us, some want something for nothing.
We’re sure you’ve been in similar situations yourself.
And we’ve learned a thing or two over that time about people.
Here’s our own biased, and very general, thoughts about good people to work with:
1. Good people don’t complain.
Recently we’ve had a whole serious of situations in our office that could be complained about.
We’re blessed with a team of people who just keep pushing through the crap that comes our way.
But we have several clients who are the exact opposite.
One client recently went onto one of our websites and found that a contact we have listed as someone we use wasn’t responding to them.
Another didn’t do the type of work that this person wanted.
They complained about it – said we “over-hyped” our contacts.
Here’s what I know about that person without spending time with them:
A. They don’t get very far with their goals.
B. The smallest problem stops them in their tracks.
B. They’re not the type of person we want to work with.
The proper response would be to ask for another contact – they didn’t and chose to spend their time criticizing.
Very insightful indeed.
Our days are FILLED with people not responding, not doing what they say they’ll do.
We’ve had mortgage brokers that were good for years go bad on us.
We’ve had lawyers who we’ve given many referrals to not return our calls.
We’ve had contractors steal money from us.
We’ve had tenants use their garage as a private garbage dump.
If you slow down enough to complain about these things you’ll never get anything done.
Complainers move to slow and don’t get enough done.
Your biggest asset is your time.
2. Good people move quickly.
They move quickly, but not foolishly.
One meeting to discuss a topic and then action.
One phone call to answer a question and then action.
One discussion to analyze a situation and then action.
The people who want five meetings to discuss and analyze and re-analyze and think and ponder and meditate are too slow.
We have several people we work with who have one meeting with us about something they’re confused about and the next thing we know they’ve gone and fixed the issue.
No waiting, no analyzing, no complaining.
We have met with other people who pitch us on an idea and then wait for us to come up with all the details and action plan. And then when we don’t, because their idea doesn’t fit with our goals, they get upset.
LOL! Funny stuff.
We know someone “planning” to do build a huge property for years … we know someone else who started the job and is already finished.
Action beats meditation. I used to think it was the opposite.
3. Good people have goals.
People without goals move haphazardly.
They’re slow (see point #2).
They don’t know where they’re going and don’t have any reasons to accomplish very much.
Have you ever noticed how people with goals seem to get things done?
And the more serious they are the faster they get results.
We know of many people we have the pleasure to work with who have big goals.
Many of them are reaching fitness levels, income levels, investment levels, vacation levels that the majority of people will not.
The “big picture” keeps people focused.
Without the “big picture” in mind little problems become complaints and complaints slow you down (see points #1 and #2).
4. Good people see problems as opprotunities.
This isn’t fluff. We’re 100% serious.
Every time in our lives we’ve been dealt what initially looks like an huge problem something great rises out of it.
My nightmare of a useless University education drove me into IT education. (where I learned a ton)
My nightmare first IT job drove me to get a great job at Oracle. (where I learned a ton)
My nightmare sales VP at Oracle drove me to NetSuite. (where I learned a ton)
My nightmare of not growing personally fast enough drove me (with Nick) to build Rock Star. (where we’re still learning)
There are small and large versions of this.
It’s now to the point that when we have a new problem enter our lives we immidiately begin wondering where the positive in this is.
Have a problem tenant … it turns out they teach you a lesson in standing up to people that you use to get a raise at work.
Have a problem account in your sales job … they teach you the discipline required to study and learn where you went wrong that you then use to close ten new sales.
Miss your quota at work … teaches you the humility you may need to appreciate things you were ignoring in your life.
Have a problem with your child’s schooling … gives you the opportunity to spend more time with them figuring the issue out.
Good people are always looking at the opportunity in the situation. Always.
5. Good people have goals that align with your goals.
We started this by saying these are observations about good people to work with.
You may know the greatest non-complaining action taker in the world but if their goals don’t somehow align with yours … they may not be a good fit.
If they want to save the world and you want to pay the bills … they may not be right for you.
If they want to build a huge “brand” and you want a small steady income … they may not be right for you.
If they want to start a business by quitting their job tomorrow and you want to build the business “on the side” … they may not be the right fit for you.
If they want to work 18 hours a day and you want to spend time with your family … they may not be the right fit for you.
Good people have goals that somehow align with yours.
You don’t need the same goals but they need to mesh.
Source: Rock Star Inner Circle
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