![\"business-lessons-for-entrepreneurs-from-real-estate-investors-infographic\"](\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2021\/02\/top-9-business-lessons-for-entrepreneurs-1024x6952.png\")
<\/figure>\n\n\n\nWhy Successful Real Estate Investors Are Great Business Role Models<\/strong><\/h2>\n\n\n\nThe lessons we learn from successful real estate investors can be applied to any business. Whether you\u2019re managing a store, starting your own business or are a college student with big dreams, these tips apply throughout many industries and are sure to get you a step closer to success.<\/p>\n\n\n\n
They Are Problem Solvers<\/strong><\/h3>\n\n\n\nWhatever industry you work in, it\u2019s crucial to understand what your job truly is. For example, Sharon Vornholt, real estate investor in Louisville, Kentucky, says<\/a> that \u201cinvestors think they are in the \u2018house business; In reality, [they] are in the problem-solving business. If you are able to solve people\u2019s problems, you will do very well in this business.\u201d<\/strong> <\/p>\n\n\n\nKnowing your market and having the resources to break your job down to the most simple definition can help you become a more successful entrepreneur. Uncovering your market’s needs and creating solutions for its problems will help you establish a strong product, trusting client base and make you a valued and sought after expert among colleagues in the business.<\/p>\n\n\n\n
They Know Their Industry<\/strong><\/h3>\n\n\n\nIf you\u2019re unfamiliar with your industry\u2019s ways and don\u2019t keep up to date with the changes within, you\u2019re ultimately going to fail. \u201cDon\u2019t fool around hoping or guessing,<\/strong>\u201d says<\/a> real estate master Don Campbell. \u201cDo your homework<\/strong> before and during your business operation of investment choices. You, and ONLY you, are responsible for your results (both good and bad).\u201d<\/p>\n\n\n\nFind efficient ways that allow you to stay on top of trends that can impact your business or industry. Listening to podcasts, subscribing to newsletters or following experts on social media are great ways to get the most important news in digestible portions. Carve time out every week to further research anything that caught your attention. The more you know about your industry, the better you\u2019ll be able to navigate it successfully.<\/p>\n\n\n\n
They\u2019re Patient\u2026 but Will Move Quick<\/strong><\/h3>\n\n\n\nAs an entrepreneur, you can\u2019t rely on luck and opportunity. It takes hard work, dedication and another virtue all entrepreneurs have in common: \u201cBeing patient<\/strong> is the next feature on the list to become a successful real estate investor,\u201d states<\/a> Shalom Drizin, real estate investor from Brooklyn, New York. Snap decisions can cause you to overpay or undersell which can put a big dent in your budget. It often takes patience, endurance and intuition to navigate the market and make decisions that will reward you in the long run. <\/p>\n\n\n\n\u201cAbove all, the person must know how to identify when is the perfect time to sell, remodel or build.\u201d Managing this balancing act of practicing patience and knowing the right time to make your move is essential, whether you\u2019re a real estate investor or an entrepreneur. An important business lesson for entrepreneurs is to understand patience and that success doesn\u2019t happen overnight, you need to work toward it gradually. However, don\u2019t wait too long when opportunity does knock on your door!<\/p>\n\n\n\n
They Build a Strong Brand<\/strong><\/h3>\n\n\n\nIf you\u2019re looking for a one-in-a-million success story, you\u2019ll have to build a one-in-a-million brand for yourself. Sharon Vornholt urges<\/a> anyone starting out to \u201cget really good at marketing and branding. Marketing is how you get leads and branding is why they choose YOU […]. It\u2019s critical that you have a good website.\u201d<\/p>\n\n\n\nShe draws from her own experience: \u201cI think the biggest mistake I made is the same one that new investors are still making today, and that has to do with branding. You should start building your brand right from the beginning, and I didn\u2019t do that. I felt like I didn\u2019t need to worry about building a brand while I was learning and getting experience, but I was wrong.\u201d <\/p>\n\n\n\n
Sharon Vornholt encourages rookies to \u201cthink about this business for a minute, investors are all pretty much the same. We all buy houses. The one chance you have to differentiate yourself is through branding<\/strong>. My advice is to start building your brand from day one.<\/strong>\u201d<\/p>\n\n\n\nThey Know That Their Network Is Their Net Worth<\/strong><\/h3>\n\n\n\nYou\u2019ve heard of location<\/a>, location, location, but what\u2019s the point if you\u2019re going there by yourself? Your networking skills can make or break your career, especially as a beginner in a new industry. <\/p>\n\n\n\nNever turn away a learning opportunity. Jon Kessler from We Buy Houses Cash Baltimore says: \u201cWhether it\u2019s [neighbourhood] trends, good contractors to use, new techniques, a small obscure lender offering a favourable new loan product or potential partners, none of this information can be gathered by just one person.\u201d<\/p>\n\n\n\n
If you start thinking of like-minded folks as your competition, you may lose out on networking opportunities. Instead, \u201cthink of them as your team and you will get much farther much faster.\u201d<\/strong> <\/p>\n\n\n\nFor anyone starting out in real estate investment, Jon Kessler recommends meetups or local Facebook groups to connect with fellow investors. Here are a few great starting points:<\/p>\n\n\n\n
- Money. Life. Balance. Community<\/a><\/li>
- Investing For Beginners (CANADA)<\/a><\/li>
- Personal Finance For Canadians Subreddit<\/a><\/li>
- Canadian Real Estate Investing Mastermind<\/a><\/li>
- Plan, Budget & Invest<\/a><\/li>
- Canadian Real Estate Investors Association<\/a><\/li><\/ul>\n\n\n\n
No matter your industry, check platforms like Reddit or Facebook for like minded people or join a local networking group to expand your network, make valuable connections and share your vision with other entrepreneurs.<\/p>\n\n\n\n
They Stay True to Themselves<\/strong><\/h3>\n\n\n\nLosing sight of your goals is one of the quickest exits off the highway that is your career and an important lesson in business. As an entrepreneur, you\u2019ll likely encounter opportunities that can change your career path. Don\u2019t get enticed by big promises if they don\u2019t align with your values.<\/p>\n\n\n\n
David Baddeley, Director of Scottish Trust Deed, knows that \u201cso many people have gotten wealthy by investing in real estate that it is hard to ignore the opportunity.\u201d But he also shared that \u201cwanting in and being able to make it happen are two very different things. […] Stick to what you know and don\u2019t let money influence your decisions.<\/strong>\u201d<\/p>\n\n\n\nDiscover the purpose of your business, your \u201cwhy<\/a>\u201d and stay true to it. Ask yourself why<\/em> you get out of bed in the morning, why<\/em> you founded your company, why<\/em> you created your product or service. If an opportunity presents itself that doesn\u2019t align with your \u201cwhy\u201d it\u2019s likely not worth pursuing.<\/p>\n\n\n\nThey Have a Positive Attitude<\/strong><\/h3>\n\n\n\nHow do you stay positive and confident when you\u2019re just starting out? Justin Pogue remembers<\/a>: \u201cIt\u2019s dealing with those voices that say, \u2018You\u2019ve never done this before. Are you sure you know how to do this? What if you have to evict people?\u2019 Silencing these questions is a really important step in becoming a true real estate investor.\u201d<\/p>\n\n\n\nShifting your mindset doesn\u2019t happen overnight. It\u2019s a process you\u2019ll have to go through. \u201cKnow [your doubts] will only disappear when you can respond to those questions with the experience you develop over time<\/strong> with your investment.\u201d<\/p>\n\n\n\nIt\u2019s normal to feel like an imposter<\/a> when you\u2019re new in the business. Whenever you feel doubts creeping up on you, try to separate these feelings from facts and shift your mindset by visualizing success. Remember, every time you encounter a new situation, you\u2019re learning new valuable skills that will bring you closer to your goals. Just keep going and never stop believing in yourself!<\/p>\n\n\n\nThey Don\u2019t Rely on Luck<\/strong><\/h3>\n\n\n\nAny amazing success story is the result of hard work, dedication and a dash of luck. Know that relying on opportunity to get you to the top won\u2019t cut it \u2013 this is an important business lesson for any entrepreneur. In real estate investment, you need to \u201censure that the price you pay [for a property] is relatively consistent with prospective rental income.\u201d <\/p>\n\n\n\n
Whatever industry you work in, it\u2019s crucial to understand what your job truly is. For example, Sharon Vornholt, real estate investor in Louisville, Kentucky, says<\/a> that \u201cinvestors think they are in the \u2018house business; In reality, [they] are in the problem-solving business. If you are able to solve people\u2019s problems, you will do very well in this business.\u201d<\/strong> <\/p>\n\n\n\n Knowing your market and having the resources to break your job down to the most simple definition can help you become a more successful entrepreneur. Uncovering your market’s needs and creating solutions for its problems will help you establish a strong product, trusting client base and make you a valued and sought after expert among colleagues in the business.<\/p>\n\n\n\n If you\u2019re unfamiliar with your industry\u2019s ways and don\u2019t keep up to date with the changes within, you\u2019re ultimately going to fail. \u201cDon\u2019t fool around hoping or guessing,<\/strong>\u201d says<\/a> real estate master Don Campbell. \u201cDo your homework<\/strong> before and during your business operation of investment choices. You, and ONLY you, are responsible for your results (both good and bad).\u201d<\/p>\n\n\n\n Find efficient ways that allow you to stay on top of trends that can impact your business or industry. Listening to podcasts, subscribing to newsletters or following experts on social media are great ways to get the most important news in digestible portions. Carve time out every week to further research anything that caught your attention. The more you know about your industry, the better you\u2019ll be able to navigate it successfully.<\/p>\n\n\n\n As an entrepreneur, you can\u2019t rely on luck and opportunity. It takes hard work, dedication and another virtue all entrepreneurs have in common: \u201cBeing patient<\/strong> is the next feature on the list to become a successful real estate investor,\u201d states<\/a> Shalom Drizin, real estate investor from Brooklyn, New York. Snap decisions can cause you to overpay or undersell which can put a big dent in your budget. It often takes patience, endurance and intuition to navigate the market and make decisions that will reward you in the long run. <\/p>\n\n\n\n \u201cAbove all, the person must know how to identify when is the perfect time to sell, remodel or build.\u201d Managing this balancing act of practicing patience and knowing the right time to make your move is essential, whether you\u2019re a real estate investor or an entrepreneur. An important business lesson for entrepreneurs is to understand patience and that success doesn\u2019t happen overnight, you need to work toward it gradually. However, don\u2019t wait too long when opportunity does knock on your door!<\/p>\n\n\n\n If you\u2019re looking for a one-in-a-million success story, you\u2019ll have to build a one-in-a-million brand for yourself. Sharon Vornholt urges<\/a> anyone starting out to \u201cget really good at marketing and branding. Marketing is how you get leads and branding is why they choose YOU […]. It\u2019s critical that you have a good website.\u201d<\/p>\n\n\n\n She draws from her own experience: \u201cI think the biggest mistake I made is the same one that new investors are still making today, and that has to do with branding. You should start building your brand right from the beginning, and I didn\u2019t do that. I felt like I didn\u2019t need to worry about building a brand while I was learning and getting experience, but I was wrong.\u201d <\/p>\n\n\n\n Sharon Vornholt encourages rookies to \u201cthink about this business for a minute, investors are all pretty much the same. We all buy houses. The one chance you have to differentiate yourself is through branding<\/strong>. My advice is to start building your brand from day one.<\/strong>\u201d<\/p>\n\n\n\n You\u2019ve heard of location<\/a>, location, location, but what\u2019s the point if you\u2019re going there by yourself? Your networking skills can make or break your career, especially as a beginner in a new industry. <\/p>\n\n\n\n Never turn away a learning opportunity. Jon Kessler from We Buy Houses Cash Baltimore says: \u201cWhether it\u2019s [neighbourhood] trends, good contractors to use, new techniques, a small obscure lender offering a favourable new loan product or potential partners, none of this information can be gathered by just one person.\u201d<\/p>\n\n\n\n If you start thinking of like-minded folks as your competition, you may lose out on networking opportunities. Instead, \u201cthink of them as your team and you will get much farther much faster.\u201d<\/strong> <\/p>\n\n\n\n For anyone starting out in real estate investment, Jon Kessler recommends meetups or local Facebook groups to connect with fellow investors. Here are a few great starting points:<\/p>\n\n\n\n No matter your industry, check platforms like Reddit or Facebook for like minded people or join a local networking group to expand your network, make valuable connections and share your vision with other entrepreneurs.<\/p>\n\n\n\n Losing sight of your goals is one of the quickest exits off the highway that is your career and an important lesson in business. As an entrepreneur, you\u2019ll likely encounter opportunities that can change your career path. Don\u2019t get enticed by big promises if they don\u2019t align with your values.<\/p>\n\n\n\n David Baddeley, Director of Scottish Trust Deed, knows that \u201cso many people have gotten wealthy by investing in real estate that it is hard to ignore the opportunity.\u201d But he also shared that \u201cwanting in and being able to make it happen are two very different things. […] Stick to what you know and don\u2019t let money influence your decisions.<\/strong>\u201d<\/p>\n\n\n\n Discover the purpose of your business, your \u201cwhy<\/a>\u201d and stay true to it. Ask yourself why<\/em> you get out of bed in the morning, why<\/em> you founded your company, why<\/em> you created your product or service. If an opportunity presents itself that doesn\u2019t align with your \u201cwhy\u201d it\u2019s likely not worth pursuing.<\/p>\n\n\n\n How do you stay positive and confident when you\u2019re just starting out? Justin Pogue remembers<\/a>: \u201cIt\u2019s dealing with those voices that say, \u2018You\u2019ve never done this before. Are you sure you know how to do this? What if you have to evict people?\u2019 Silencing these questions is a really important step in becoming a true real estate investor.\u201d<\/p>\n\n\n\n Shifting your mindset doesn\u2019t happen overnight. It\u2019s a process you\u2019ll have to go through. \u201cKnow [your doubts] will only disappear when you can respond to those questions with the experience you develop over time<\/strong> with your investment.\u201d<\/p>\n\n\n\n It\u2019s normal to feel like an imposter<\/a> when you\u2019re new in the business. Whenever you feel doubts creeping up on you, try to separate these feelings from facts and shift your mindset by visualizing success. Remember, every time you encounter a new situation, you\u2019re learning new valuable skills that will bring you closer to your goals. Just keep going and never stop believing in yourself!<\/p>\n\n\n\n Any amazing success story is the result of hard work, dedication and a dash of luck. Know that relying on opportunity to get you to the top won\u2019t cut it \u2013 this is an important business lesson for any entrepreneur. In real estate investment, you need to \u201censure that the price you pay [for a property] is relatively consistent with prospective rental income.\u201d <\/p>\n\n\n\nThey Know Their Industry<\/strong><\/h3>\n\n\n\n
They\u2019re Patient\u2026 but Will Move Quick<\/strong><\/h3>\n\n\n\n
They Build a Strong Brand<\/strong><\/h3>\n\n\n\n
They Know That Their Network Is Their Net Worth<\/strong><\/h3>\n\n\n\n
They Stay True to Themselves<\/strong><\/h3>\n\n\n\n
They Have a Positive Attitude<\/strong><\/h3>\n\n\n\n
They Don\u2019t Rely on Luck<\/strong><\/h3>\n\n\n\n