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10 tips for real estate success in 2011

10 tips for real estate success in 2011 - property tips - property investment

Instead of waiting until January of 2011, why not set your goals for next year right now and skip the production lows that normally come at the end of the year?

On Monday we examined Michael Gerber's concept of "working on" your business as opposed to "working in" your business. "Working on" your business means taking time to analyze market conditions, evaluate your marketing efforts, and make adjustments to capitalize on market fluctuations. It also means creating a written plan.

1. The power of written goals
Research has consistently demonstrated the power of writing down your goals. Mark McCormack, in his book, "What They Don't Teach You in the Harvard Business School," reported on a study that followed Harvard students who graduated with a master's degree in business administration from 1979-89.

At the beginning of the study, only 3 percent of the graduates had written goals, 13 percent had goals that were not in writing, and 84 percent had no goals whatsoever. Ten years later, the 13 percent who had goals were earning twice as much as those who had no goals at all.

What was astonishing, however, is that those who had written goals were earning 10 times as much as the other 97 percent put together. Subsequent research has also demonstrated that writing down your goals and sharing them with someone increases the probability of your success even more.


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Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.