Entrepreneurs and Paranoia
“Great entrepreneurs live in paranoia.” Robert Herjavec
This quote, from the “Shark Tank” star, points to a classic trait shared by successful entrepreneurs. We’re always at least slightly uncomfortable. Not to an extreme, debilitating point, but rather just enough to continue the process of self evolution.
Evolution is especially important in a dynamic industry such as real estate where advanced progression is a guarantee. If you’re not evolving in the business, forecasting the business cycle and preparing your business model to be out in front of it, then you will get left behind.
Complacency and overconfidence are your enemies as an entrepreneur. I see some agents set a goal, reach it and then live in a state of joy and delight with themselves for an extended period of time. Complacency sets in. They may become overconfident in their abilities and feel that all that which surrounds them is working in their favor. This is called pronoia. It’s the opposite of paranoia and it’s a guarantee of reaching the opposite of success.
It takes 3, 6 up to 9 months from the point of prospect inception (either seller listing or buyer purchase) to develop a transaction into a closing. If, at any point, in that period you are not receiving and working more prospects or seeking out new prospects, you will develop a cycle of highs and lows in your business.
Cyclical highs and lows should be avoided. After all, your bills are consistent, right? So your income should be too. Key to this is never being so satisfied with yourself that you are not evolving and the point at which most entrepreneurs are driven is to some degree; paranoia, self doubt and questioning.
Never stop doubting or questioning how you can improve. Look for a post soon on how to use your failures to build success.
Thank you for joining me in the journey to your best, like a Blair :)