Ever get “Analysis Paralysis?”
Yeah. me too. A listener contacted me and had a great question regarding our Premium podcast as well as a puzzling question.
From your toolbox of ideas, what do you think I should do to overcome Analysis Paralysis and focus on?
He had sent me a very lengthy question outlining his goals, his experience, and years that he had studied Real Estate Investing From the sounds of it, he was a very accomplished guy in his own right. Although what prompted his email was a question about the podcast, it led to something I felt we all feel sometimes. So, in it’s redacted form, I present to you my answer to him. I hope you find it helpful, as I was writing from the heart when I sent it.
“Thanks for your note! As to the videos I am not sure which platform you are referring to. Generally, TenMinuteSkill is all podcast. If you are referring to the interview I did that I posted on the Premium version, it was simply the audio to the video version which is unpublished. The unpublished video version is here. http://www.youtube.com/watch?v=VIHQFB5Vwds&feature=share
As to your goals, and your question. My thought? At the risk of sounding trite, I do want you to know that I have given some consideration to your question. I want to say thank you in advance because it causes me to think larger about who listens to our podcasts, and reads our books. I just never know who will hear it, and in what capacity they could use it. Although I originally intended the podcast for wholesalers, it has now morphed into something far larger than I anticipated. Realtors®, Wholesalers, Rehabbers, reporters from news channels, and other people have asked about it. So with that as a backdrop, let me try to answer your question as honestly and completely as I possibly can.
The short form answer is; Continually work on your sales skills. Master the core 5 competencies. If you can master that, then no other “weapon formed against you can prosper.” So to speak.
The detailed answer; I am a lot like you. I love to learn, love to get in the deep analysis and imagine the possibilities. I suppose there is an element of that in all of us. The unyielding truth of life however, is that with the Yin of Learning, their must inevitably be the Yang of Action.
While I personally am not a religious man, I do find certain biblical principles to be appropriate in a business perspective as well. For example, the Apostle Paul said, “Faith without works is dead.” It is remarkably useful to us in this discussion. As I mentioned, I too love to learn. However, without actually putting those techniques and skills to use, there is no way that I can let the “inner scientist” in me to test out the theories I have learned.
In practice however, it is a difficult question to answer. To simply say, “Get to work and stop thinking. Just act!” is insulting to both your intelligence as well as your work ethic. If it were simply a matter of “stopping thinking” or “getting to work” then you could figure that out on your own. What I feel is helpful is understanding WHY you aren’t acting. That, unfortunately is a matter of your discovery. Typically, the reasons why we don’t act are rooted in some form of fear. Either fear of loss (Loss of money, reputation), Fear of gain (Holy shit, what if this actually works and now I have TONS of things to do!), or a fear of failure (looking like a fool, letting yourself or others down). Once you identify which of those three tend to match closely your fear, then you are now in a place to master it.
To simply say, “Get to work and stop thinking. Just act!” is insulting to both your intelligence as well as your work ethic.
Suppose your fear is a fear of loss. Let’s pretend you are afraid that you will lose money. Ok, fortunes have been made and lost. Please let me assure you, poverty is not nearly as crushing a foe as you may think. To be sure, poverty is a subjective issue for us. Chances are, you will never reach true “poverty” as we know it. But what is more deadly, more horrifying of a fate than that of losing everything and being poor, is the sad state of a person who never tried.
Let’s suppose your fear is a fear of Gain. Let’s suppose you are one of those lucky few who believes that it will work for you so well, That now you have a LOT more problems than you originally intended. Perhaps you will have more taxes, more clients, more problems, and now you are forced to get out of the shell you are comfortable in. I suppose a fear of gain is simply a fear of change. Change of what your life is like, what your friends and family will think, and how that will affect you emotionally. I know that I personally felt that way when I began. I had a terrible time getting past the idea that I was making more than my dad. It took some time before I got my mind around it. When I did, then I was able to move forward a little further in my journey.
Suppose your fear is a fear of failure. Probably the most crippling, yet common problem known to Man. Entrepreneurs are not immune from the common fears that anyone would have. What is known however, is that while common, this fear is easily conquered! How to conquer the fear of failure you ask? Do it! Do it over and over and over and over. Fail continuously. Fail with careless abandon. Fail until you cannot feel it anymore. I have failed more times in more things, and in more areas of my life then I care to count. What failure has taught me however, is the taste of success.
Wayne Gretzky, Michael Jordan, Oprah, Thomas Edison, Steve Jobs, George Bush (Both of them), all famous failures. People fail as a way of life. Expecting perfection, no matter what level, is simply hurting yourself. The good news is, when you fail FASTER, than you learn what NOT to do quicker! When you learn what not to do quicker, then you are doing what Paul, Buddha, and Taoist principles all have taught you. The Yin/Yang, the Faith with Works, the being present and learning is all occurring together. Feeding your need to learn, as well as ensuring that your wallet can afford the courses you want to pay for. LOL
Realistically however, as to the specifics of what a person should study to ensure a sound success in Life is to practice the Five Core Competencies. Not to say that Life is Real Estate, but Life is Sales. As Sales is throughout our lives (If we define Sales as the Art of Persuasion). If you learn how to sell, (using the five core competencies) then you can apply them to whatever area you need to. For example, if you are trying to create a new development for lower end housing in your city, then you know you would need to apply the Core Competencies. What are they again? Prospecting, Lead Followup, Presentations, Handling Objections, and Closing. If you can master those five skills, then there is absolutely nothing that you could not accomplish. Nothing you could not do, and no one who could stop you.
So in closing, Thank you for your letter, I apologize for the length of my reply, but it has allowed me to think through an adequate answer for you that would be meaningful, and not some trite bullshit that you would not be able to use. Thank you!”
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