There are only so many hours in a day. Every investor regardless of age, experience or market has the ability to maximize the twenty four hours they are given. Often times what you will find is that the most successful investors get the most out of every day. Those that struggle may have the best intentions but often get stuck running in place. The best way to combat this is to recognize the areas that eat into your daily routine and devise a plan of attack. By squeezing just an extra hour or two out of your work day think about how much more productive you would be? Here are five areas that cause the most problems and ways to combat them.
- Procrastination. Procrastination is by far the biggest work efficiency killer there is. As a real estate investor there is nobody standing over your shoulder telling you what to do and when to do it. Even the most motivated investors have a tough time with this transition. That sense of freedom to do whatever you want when you want is a blessing and a curse. As the old saying goes you shouldn’t put off until tomorrow what you can do today. You can have all of the plans and lists there is but without action you won’t get very far. If you are a morning person plan on doing your important tasks as soon as you wake up. If it takes you a while to get going do your heavy tasks after lunch. You need to develop a work system that tailors how you work best to maximize your results. Typically once you get a taste of success it will drive you to work harder. Until you get to that point you need to always fight against procrastination.
- Organization. One of the most important roles in an efficient day is organization. Those investors who wake up and take the day as it comes often do not get everything accomplished on their lists. On the flip side by writing down every task and goal you have for the day you will find yourself getting much more done. You can even go so far as to break down your day hour by hour. By holding yourself accountable for your actions you find yourself that you are much more productive. One efficiency trick is to start your day with a few softball tasks that you know you can knock off. This could be relaying good news to a real estate agent or sending a series of short emails. This puts you in a good flow and propels you to continue accomplishing tasks throughout your day. Before you go to bed at night make your list for the next day. By doing this it allows you to wake up and hit the ground running. The more organized and focused you are the more you will accomplish.
- Technology. We have turned into a society that is easily distracted. In fairness to us it is not our fault. With the increased reliance on technology and social media access to information is easier than ever. As great as a few minutes of technology time can be it is also a productivity wrecker. A few minutes on Facebook or Instagram can quickly turn into 45. A quick peak at your emails can turn into a back and forth exchange that lasts hours. To fight this and stay focused you need to allow yourself just a few dedicated times for technology usage throughout your day. If you are disciplined enough you can keep your phone on your and if there is a true emergency deal with it. However you should pick a half hour in the morning and afternoon and make it clear you will return all messages in the evening.
- Distractions. How many times have you received a phone call that throws your day for a loop? The odds are that the call is not an emergency and may not even be time sensitive yet you answer and get completely sidetracked. If you want to increase productivity you need to avoid distractions at all cost. Whatever you are working on make sure you finish the task to completion. Multitasking is fine for some people but nobody everyone can handle it. By stopping and starting several different things you end up going nowhere. Find a dedicated place and time to put your head down and get some work done. If this means leaving your home office and going to a library that’s what you need to do. It is far better to hour five really productive hours than labor through eight unproductive ones.
- Unproductive Tasks. There is a big difference between busy work and being busy. You can fool yourself into being busy and not get much done. There are several time consuming tasks that can eat away at your production. As simple as it sounds if you are not great with business organization, direct mail or marketing hire someone that is. Even if your business hasn’t taken off as of yet you can find inexpensive, quality people to handle these tasks for you. Instead of wasting hours of time on end the right people can do whatever you need done in a fraction of the time. This opens up more time for you to focus on where you are strong. If there is an area of your business that is weighing your day down find a way to solve it.
Investing in real estate is one of the greatest careers you can ever have. Like anything else you need to work both smart and hard. Take a look at how you are currently working and look for ways to get the most out of every day.
