Toughness or maybe just Perseverance is an Essential Ingredient for Success 

Almost every leader, entrepreneur and manager wants to have and hone the qualities that contribute to and best predict success.  For example, most leaders want to demonstrate the qualities of confidence, organization, selflessness, structure, humility, and conscientiousness.  But, in excess, even the best leadership qualities can become flaws. Someone who is too confident can become arrogant. A person who is too organized can become obsessive.  A person who is too selfless can become a people-pleaser. A person who is too structured can have trouble being creative. A person who is too humble may not be able to inspire others to follow.  A person who is too conscientious can become neurotic. However, there is one trait that every leader should have in as much abundance as possible. That is perseverance and passion for long term goals.  There doesn’t seem to be such a thing as too much of this. The more perseverance a person has, the more they press on in the face of adversity. There is no downside to it.

Perseverance is a key trait – or combination of traits – that is absolutely essential for success. People with perseverance usually demonstrate courage, resilience, conscientiousness, follow-through, and excellence in very specific ways.  A person with perseverance usually has a goal he/she cares about so much that it organizes and gives meaning to almost everything he/she does. Best of all, perseverance is something that can not only be learned, but also something that tends to increase with age.

How to Increase One’s Perseverance

According to Travis Bradly in his article entitled “11 Signs You Have the Grit Needed to Succeed” published in Entrepreneur, “Developing perseverance is all about habitually doing the things that no one else is willing to do. Right there explains why many people lack perseverance.

Top 10 Ways to Help Increase Perseverance

1. Work twice as hard as everyone else.

Many studies show that while talent is important, effort is more important.  In fact, it counts twice. Consistent, solid effort and focus on a particular goal is much more important than intellect or talent in achieving that goal.  People who are highly-successful are known for working long hours and really focusing their energy and time only on tasks that further that key goal. Warren Buffet, the self-made multi-billionaire, spends most of his day most every day focused on reading and studying the financial statements of major companies.  He cuts away all of the tasks that don’t add any value to his goal of investing in the best companies. It is reported that he has a three-step process for prioritizing.

• Step 1:  Write down a list of 25 career goals.
• Step 2:  Then consider which, from the list, are most important.  Circle those.
• Step 3:  Look at the 20 career goals not circled.  Avoid those at all costs. Those are just distractions from the five highest-priority goals on the list.

Call it ruthless prioritization or call it focus, but it certainly has worked for Buffet.  One more step to Buffett’s process for prioritizing. I believe that most successful people are successful because they find a common purpose among their top goals, and that becomes the “ultimate concern” or the compass goal that guides all their activity. In the case of Steve Jobs, for example, his ultimate concern was to create a company that helped people to “think differently.”  The computers, phones, and pads that Apple sells are all just tools to help people think differently.

2. Make a lot of mistakes.

To err is not only human, it is good.  The ability to fail, try again, fail, try again, fail, try again (you get the picture) — all without a moment’s pause – helps build toughness.  Some people lack the confidence and self-esteem to fail repeatedly and not feel discouraged. But those who can – who can fall off the proverbial horse or bike and get back on again and again — increase their perseverance.  The more willing a person is to try things that sound crazy or ridiculous — and may look foolish – all for the sake of achieving a goal, the more perseverance increases.

3. Press on even when feeling vanquished.

Tough times come to all.  No one can be in business for long without facing adversity or trials.  No one can try to create something new without having setbacks. It is when all seems lost or pointless and things are most bleak that it is important to persevere.  Press on despite a deep desire to quit. Consider it a ‘perseverance muscle’ that must be exercised in order for it to become stronger.

3. Make tough decisions that everyone else avoids.

No one wants to deal with difficult situations.  Reprimanding a subordinate. Hiring someone that no one else thinks is a good fit.  Shutting down a project or company that is clearly not going to work long-term or big picture.  Having both the insight and metal to recognize when something difficult must be done and then doing it fosters toughness.  It’s not fun, but it is vital.

4. Shut out fear, doubts and negative self-talk.

There is enough fear and doubt that can creep in without anyone feeding it.  A person who wants to succeed must therefore ensure that such negative influences are shut down or kept away as much as possible.  Negative people must be distanced or removed. A person with toughness will not allow the negativity of others to bring them down, and they won’t allow negative thinking to infiltrate their minds.  They cast out fears and doubts, and focus on the goal even when no one else is on board or believes.

5. Trust your intuition.

Intuition is about relying on one’s collection of all subconscious experiences.  It’s basically a catalog of a whole lot of information that the mind has gathered for an entire lifetime and then created shortcuts to access.  They are insights that aren’t immediately available to the conscious mind at a given moment, but are all things that were learned and felt at some point.  It’s often referred to as a gut feeling. People who want to increase their toughness need to trust their gut in situations in order to hone that ability to access all of the collective wisdom in the unconscious mind.  Many people are hesitant to trust their gut, but as people age, they learn to rely on intuition more so.

6. Be patient and willing to delay gratification.

In a multitude of studies, it’s been shown that people who are patient and willing to delay gratification now for a better reward later are usually more successful.  This is a sign of toughness. Those who can exercise their need for immediate reward help to hone this “patience muscle.”

8. Stay the course even if no else believes in the vision.

A vision statement is a statement of words describing where and what an organization wants to be in the future. It usually remains unchanged for many years. But often leaders may have a vision of where they want to go, but don’t have the support of the organization.  Simply put, they may not believe in the vision. Case in point. A new CEO was brought in to turn Borders Books around when the company was struggling to recapture market share lost to Amazon, Walmart, and others. However, the CEO was unable to gain the support of the organization and eventually the Board of Directors fired that CEO and hired another, and then another.  No CEO could stay the course because not only didn’t the employees believe in the vision, neither did the Board. Eventually, Borders went out of business. It is easy for lack of support to undermine and eventually quash any goal. Only those who are willing and able to move forward even if no one else believes will ultimately succeed. That tenacity builds toughness.

9. Over-deliver on promises.

According to a study by BBB/Gallup, when asked what CEOs could do to improve trust, 72% of respondents to one survey said, “Do a better job of keeping your promises.” Another study found that 40% of consumers who had received a promise from a business in a given year felt it was not delivered, and of those 62% experienced multiple broken promises from that same business.[8] It is not unusual for companies and its leaders to not deliver on promises.  But the most successful people – those with a lot of perseverance – make sure to over deliver.  They believe that if you promise the moon, you deliver it with a handful of stars so they can shine in the customer’s eyes.   Delivering on promises means doing what you say you are going to do when you say you are going to do it. Following through on a commitment, small or large, helps build trust each time. It also helps to build toughness.

10. Care about the details, even when tired.

Often, business leaders are big-picture thinkers who have a low tolerance for details. They’re very clear about where their visionary journey will take them, but they may neglect the finer points and details.  But the most successful people think strategically and also pay attention to detail. They don’t let big-picture thinking stop them from caring about the small stuff. Paying attention to the details is often what delivers a competitive advantage.  Certainly Apple’s attention to detail is what made its computers worth the price tag. Those who care about the details, even when tired, are those who build toughness.

In sum, these ten things can be done by anyone who puts their mind to it.  Anyone can be tough with a little extra focus and effort. Or, if a person waits long enough, it is likely to develop with age if they have become or are willing to perseverance to the goals that they develop.

During the Escrow process, the Buyer should and probably will do a physical inspection of the subject property.  This is the Buyer’s right.  

The Seller’s responsibility is to make sure that the Buyer has full access to the property.  Also, the Seller MUST insure that ALL utilities are on. If these two items are not done, the Seller needs to understand that they may be responsible for the cost of the re-inspection.  If there is any challenge to unlocking a door, the Seller or Property Manager should have either a locksmith or a maintenance person to drill the locks onsight.

Once the Buyer’s Inspections are complete, the Seller will receive a copy of the inspection report(s). The Seller needs to review this report carefully.

There are two reasons.  If the Seller has paid for items that are noted on the report, they should go to the vendor and make sure that these items are taken care of. 

The second and probably most important is that now the Seller and the Broker has material knowledge of the items that have come up on the inspection. 

If the Property falls out of Escrow, the Seller MUST update the Seller’s Disclosure Statements as they now have the knowledge of the problems.  

If there are Health and Safety concerns noted, the Seller is now at risk if these are not handled ASAP.  If a tenant or anyone is harmed due to this neglect, the Seller could very well be held responsible.

If there are material facts that are uncovered, the Broker is under legal responsibility to disclose these items to any potential Buyer.  

Again, if the Property goes back on the market, the immediate needs should be addressed and can be disclosed as such.  This will make the likelihood of the next Escrow successful.

This is one of the main reasons that I personally walk every unit when I list a property and many of these deal killing issues can be taken care of before the Escrow thus ensuring a successful closing.

Remember that I answer my phone! 602-688-9279

Have a GREAT week!

 

Linda

This is really easy for me if I represent the Seller-I CANCEL the listing.  I cancelled two of these this morning. Under the AZ State Law, as a listing agent I am required to disclose any material facts that I personally know about the property to a potential Buyer or Buyer’s agent. 

When I am placed in an uncomfortable situation, for example when two licensed contractors tell me that the roof is in jeopardy of falling in and the Seller does handyman Bandaid fixes-I have NO choice but to disclose this.  

Personally, I have heartburn in these types of cases. What other items would my own client do?  How would I get through inspections? Frankly, this is a total waste of my time and marketing resources.

As the Buyer or Buyer’s agent, it is important to obtain SIGNED documentation from the Seller.  After Close of Escrow, there are legal issues for non-disclosure and this would be handled by the Attorney and we all know how expensive this can be.  At least when the Seller signed the disclosure documents, one would like to believe that the Seller would not sign something knowing that it is untrue or incorrect.

What about the Buyer?  

Buyers have contractual obligations to tell the truth or disclose material facts.  As a Buyer’s Agent I have the obligation to disclose material facts to the Seller or Seller’s Agent as well. What if this is an FHA loan and I know that they have no intention of living in the unit?  What if I know that they have lost their job?

Recently, one of my vendors were asked to participate in mortgage fraud-guess what-he dropped the relationship immediately.  These are the issues that come up every day in real estate and it is important to be aware but to also protect yourself as closely as possible.

Remember one of my most common thoughts is to listen to your gut.  Usually not wrong.

Feel free to call my cell phone at any time 602-688-9279. I do answer ask anyone!

Linda

Yesterday, I went to a property inspection on a listing that I have.  I was the first person onsight and the Buyer (whom I did not represent) walked up and his first words were “So I finally get to meet the Queen of Fourplexes!” His second was “What a great website!”.

I have worked hard to gain the reputation of the “Queen of Fourplexes”. In 2006 I was with RE/MAX Commercial. I was number two in the ENTIRE world for RE/MAX that year and all I sold was fourplexes.  I missed being named number one by $30,000.  Of course they do not tell you this until you have received the award.  I would have bought a condo myself.  The next year I was again awarded the very highest honors from RE/MAX.

In the 23 years as a Broker, I have learned what works and what does not work in selling properties.  Of course, it goes without saying that answering my phone makes the biggest difference.  So many agents never answer their calls.  I see in the private remarks of listings-don’t call just text! I wonder if the Sellers knew that their agents put this in or even worse NEVER return calls or even emails-would they even hire the agent or FIRE them and they should be fired for this attitude.

When I work with a Seller to list their property, I do so many items in preparation.  First, I actually drive by the Property. There is nothing in Real Estate as “putting your feet on the dirt”.  I want to see improvements in the area and what is going on. I want to see the condition of the exterior of the property.  My recommendations to the owner for work that needs to be done is the difference between a sale and the price that the property sells for. This is the easy part.

I also want to walk the interiors of all units.  The worst thing that can happen is that you get a contract and when the inspections happen, the deal falls apart because we were not prepared for whatever is behind the closed doors.

I absolutely hire my photographer to shoot professional photos. I am paid to do a good job and professional photos make all of the difference. This means that the property needs to be made ready for the photoshoot.  Landscaping, moving tenant items and any repairs completed.

On the back side of the listing, I am known for supplying all due diligence up front to potential buyers.  NONE of us needs practice in writing contracts.  Let’s get the information in the hands of the Buyers or Agents.

I have agents look for my listings as they know that they can get all of the information upon front and make educated decisions about the property.

The list of items that I request from the Seller can be frustrating for the Seller.  However, without it I cannot do my job.  Having the information I need is critical to selling the property.  The faster I get the items, the faster that the property will sell.

I list properties on approximately 30 different websites.  All of these take a great deal of time to maintain.

An important fact is that I also update current rent rolls and year to dates on a monthly basis.  Again, the difference in Brokers.  Again, I need this information from the Seller or their Property Manager monthly.

When I list a property and IF I get all of the information that I need from the Seller, it takes me approximately 4 hours to completely “bring” up a listing.

There are many other factors that go into selling but the preparation done properly will hasten the days of market for the Seller!

Remember that I answer my cell phone 602-688-9299

Please call me if you have any questions!

Linda