subject: The Passion Of A Real Estate Investor [print this page] What does it mean to be passionate? Passion has obvious connotations in the world of romance but also can be in reference to ones general feeling about something. Passion is more than just heightened interest. It is a true love for something that you do or something that you follow or have interest in. Examples would include:
Passion for a favorite sports team
Passion for the work of a favorite musician, actor, or entertainer
Passion for a hobby or other personal interest
Passion for work or for a business
Having passion for a business pursuit may be something entirely new for you, especially if youve been in work environments that you didnt really enjoy. That said, passion is not just something that you either have or dont have. It can be developed, it should be developed, and, by doing so, you will only create more income and success as an investor.
First off, how can you tell that you are passionate about something? I think this question can be answered in several ways and the following list offers a few tell-tale signs that passion is what you are experiencing:
Seeing or discussing something that immediately makes you happier
That something taps into your emotional side
Discussion of something that gets you excited and energizes you
Your heart rate goes up a little bit
You look forward to (and even plan for) when you get to do or see something
You love the idea of sharing that something with other people
Lets first look at these tell-tale signs in the context of something you may be more familiar with and then Ill apply the same things to your business and youll immediately see the parallel.
First, lets use the example of a sports team. Are you happy when you have the opportunity to see your favorite team play? Do you get emotional during games in which your team plays? Do you love talking about your team to other people, whether they are fans of the team or not? Does watching your team get your blood going a little bit? Do you make plans to see your team play, even if its just on TV? Do you want to share with the world and with anyone wholl watch or listen that you are a fan? If you can answer yes to some or all of these questions, then its safe to say that you are passionate about your favorite sports team.
Note that there is a significant difference between interest and passion. Interest is a more passive and non-emotional attachment to something, while passion is much deeper. Using the example from the previous paragraph, a lot of people are interested in sports teams but, comparatively, few are passionate about them. Business works in much the same way.
A lot of people are interested in business. Poll 100 people and ask them if they would like to own a small business (i.e. be their own boss). A majority would probably like the idea and would say they are interested in it. Ask the same 100 people if they are passionate enough about it to change their professional lives to do it, and youll likely see that interest drop off considerably. Passion is an extra gear that goes beyond simple interest and theres just more to it. So where does it come from?
Think about it this way. If you are passionate about a sports team, how did you get to be that way? You werent born with it. You werent taught or influenced to be that way. It probably came from seeing other passionate fans and experiencing something valuable in how they approached following that team. In part, you wanted to tap into that energy by being like them and thats how it starts. Business passion is much the same way. You are much more likely to develop a passion for what you do by seeing other investors with passion describe what they do and how they feel about their profession. In short, such energy can be infectious and can help instill that business passion in you.
Beyond where you get your inspiration, passion must be nurtured and developed, just like the business itself. Why are you passionate? What is your mission? What is it you most love about the business? What sides of us does the business bring out that you most love to see? These are the elements of business passion that you must understand and embrace for passion to be something that you truly have for real estate investing or any other business. When you can demonstrate passion, others will see it and also become motivated as a result. Much like a passionate sports fan or movie buff, others who witness true passion may not fully understand it but will admire the conviction and emotion that is behind it.
Passion can be reflected by exuberant discussion and giving off that intangible vibe that you really care about what you are doing. That is the truest form of passion for your business. When your passion is based upon the love of the process this will greatly attribute to your ongoing success. For example, when you love interacting with clients, seeing their faces when you are able to present a solution to them, watching a distressed property become something better, and love seeing everyone win in the end, that is true passion for what it means to be an ultimate real estate investor. When you love these things and it shows, you demonstrate a true passion and people will respond to that.
On the flip side of true passion, is passion that is misguided. Make no mistake about it, passion for a business and what you are doing is different than passion for making money. Ive heard many an investor who stated that money was their passion and that was why they loved this business. That is, in my opinion, a recipe for failure in the long run. If you truly love what you do and the foundational elements of your business, the money part will take care of itself. Falling in love with the outcome takes your focus away from the important things you need to be doing to get there and, at some point, can and will be apparent to those around you. In short, true passion for your business is seen as exactly what it is and will generally be admired by those who witness it. Passion for the outcome (in this case, making money) is often seen as something more sinister, something called greed. Be careful about what your passion is based upon because others will see it and may judge you accordingly.
On the flip side, passion, for all its benefits, can backfire if it disrupts the balance of what may be an otherwise healthy lifestyle. Sports passion can be great in some regards but ask the wives or significant others of avid sports fans and see what their take is on that same passion. Ask the same person what they think of their spouse or partner burning the midnight oil on work related stuff and never having time for the family. Ask that same person how much they enjoy their partner talking about nothing but business, no matter how excited they are about it. I think you see where Im going with this. No business is worth alienating those close to you or putting your marriage at risk. Sure, there will be busy times with your business. Just make an effort to keep it real and your friends and families will appreciate you even more for that than for your passion.
Know that passion can and will serve you well in many areas of your life, especially in your pursuits of real estate fortunes. The passion is, in part, what helps establish your credibility and makes people excited about working with you. That said, you need to have a life too. Theres nothing wrong with working hard and loving what you do. Its sometimes hard, though, to flip off that switch and get out of business mode when it is appropriate to do so. For each of you, finding that balance between business and your personal life will be a little bit different and theres no magic formula for how to do it. I just encourage you to strive for balance and, by doing so, you can indeed have your million dollar cake and eat it too.
