Aloha Mindsetters! This week we're looking at how to practice the plan and put the plan into practice. We look at how to: draft a plan, organize our ideas, create steps, prioritize, and last but not least, set and achieve crucial deadlines for our goals. If you're not sure where you're headed next... then I'm here to help steer the ship in the right direction. My goal is to help and empower over one million people to live a better life through real estate... so jump in and join the community for free so we can move forward and achieve great things together!
Aloha Mindsetters! This week we're looking at how to practice the plan and put the plan into practice. We look at how to: draft a plan, organize our ideas, create steps, prioritize, and last but not least, set and achieve crucial deadlines for our goals. If you're not sure where you're headed next... then I'm here to help steer the ship in the right direction.
My goal is to help and empower over one million people to live a better life through real estate... so jump in and join the community for free so we can move forward and achieve great things together!
KEY TAKEAWAYS
1. We have to know where we're going.
2. Be clear on what you want and WHY you want it.
3. It's not just about the plan, but the practice of building the plan and then putting that plan into practice.
4. Capture and brainstorm the plan on paper or a digital doc... in detail.
5. Categorize into chunks so we can be clear and prioritize.
6. Start eliminating and prioritizing steps.
7. Once you have all the above ready... set deadlines.
8. Schedule an hour a day for reviewing what you achieved.
9. Create goals to achieve for your week.
BOOKS
The Passive Investing Playbook - https://theinvestormindset.com/passive
LINKS
Learn more about investing with Steven at
https://theinvestormindset.com/invest
Welcome back to this week's mindset minutes episode on the investor mindset. I'm your host, Steven Pesavento. And each week we share mindset tips and investing strategies to help you take your investing career and business to the next level. And this week, we're talking about practicing the plan and putting that plan into practice. Join us each week for more investing tips and strategies on how to build true financial freedom through real estate by making sure you never miss another episode by hitting that subscribe button right down below or on your favorite podcasting app. Alright, let's get into it.
INTRO: This is the Investor Mindset Podcast and I'm Steven Pesavento. For as long as I can remember, I've been obsessed with understanding how we can think better, how we can be better and how we can do better. In each episode we explore lessons on the motivation and mindset of the most successful real estate investors and entrepreneurs in the nation.
Steven: [00:01:00] This idea of practicing the plan and putting the plan into practice is so critical towards getting to the place that you want to go, which is just one step along a very long journey. We're always focused on enjoying the constant, persistent pursuit of the journey, enjoying each step along the way. And in order for us to hit those goals, we've got to start putting a plan into place. In order to practice that plan, what we want to do is walk through some key steps. We don't ever want to start down a journey from here to there or anywhere in between without knowing exactly why we're going after it and understanding at least some of the steps that are going to be important for us to accomplish getting to that place. And when we think about this from a perspective of going on a travel or a trip, right now, I'm fortunate enough to be living in Hawaii, enjoying a beautiful 10 acre estate that was actually built for and by the Beach Boys, but I'm only able to be here right now because I got really clear on what I wanted. I got clear on why I wanted it and those two pieces ended up driving me to be able to put together a plan. To understand and capture all of those pieces of how I'm actually going to get here and enjoy this process, enjoy this place, and frankly be able to live the life of my design, which I think is what all of you want, right? We all want to be able to live a life of our design, we all want to live a life of true financial freedom but the only way to get there is to build the plan. It's not all about the plan. The practice of building the plan and then putting that plan into practice is what gives us true power. It gives us the ability to not make decisions every single second of every single moment instead take some very smart time ahead of time, and we dive into this process. And then from there, you're using all that decision power on how you can accelerate and do more within that framework that you're building. Of course we always change, we ebb, we flow, but the practice of creating the plan is where the value is really at. So let's dive into how exactly to do that.
The first step in my process for creating a plan is capturing. It's going down to a piece of paper or a Google Drive Doc, and opening that bad boy up and just starting to write down or typing out all of the potential strategies, brainstorming all the strategies that could get us to where we want to go. If we're going to be thinking about traveling to a far off place and having a phenomenal workation, be able to work remotely because we happen to be in a place and time where we've got an opportunity to do that, then what you want to do is start writing out; well, what are all the things or places where I could go? How am I going to go about actually getting there? What are the pieces that I'm going to need to take action on after I get there? So you start figuring out flights, hotels, airbnb's, what kind of accommodations you want to do in regards to different activities that you need to maybe schedule or pre plan along the way. So you're going to start putting all these things into practice, just in this first step of capturing all the pieces. So if I'm thinking from a real estate perspective, about going out and buying a new commercial property for my investors, well, the first step for me is I'm going to need to do some due diligence where I'm going to need to locate an operator that I want to invest with, where I'm going to need to build a relationship with that operator. What am I going to do in order to build that relationship, and so on and so forth. You're able to take all of those different things and capture them. Now, some of the things that are on your capture list -- it's very important to not judge what's going on the capture list as it's going there. It's a brainstorming activity. So we're going to put everything down on paper so that we can go back with a decision mind and decide what needs to be removed, what needs to be prioritized and what needs to be reordered or what further details need to be added. And that's the next step.
What I like to do next is to go through and start to chunk similar ideas together. This is something that I learned quite a long time ago. But it made a huge difference for me when I could categorize the different types of activities into chunks of information that I can work from and work within because our brain can only carry so much information in our active conscious mind at the exact same time. By being able to chunk this down, it's going to make the actual execution feel much easier, it's going to be easier for us to look and take 100 things and bring them down into 5 or 10 or 15 different categories. Then from there, we can go through each of those categories and start to prioritize what needs to be eliminated or what needs to be done first.
That's going to lead us into that next step where I’m going to go through and just start eliminating asking myself the questions; Is this the most powerful step? Is this going to get me to my end goal or outcome? Is this going to get me to the place that I want to go? and which things are going to get me there most effectively, most efficiently and within the resources that I currently have available to me? Or I like to ask, what resources do I need in order for this strategy to work best? So as you're going through here, you've captured everything, you've categorized everything. Now you're going to go through and prioritize and eliminate.
As you're going through that priority list, I like to identify what two or three things are absolute musts that could absolutely get me to my end goal, the things that I need to make sure without a doubt that I do. Those are things that I'm going to schedule. I'm going to schedule time for me to both work on that and to check in on the progress if I am delegating that to someone else. So I'm going to figure out what those key priorities are, I'm going to prioritize the entire list and I'm going to come at it from the perspective of now I know what those key things are that I can do that are going to get me there. And what are some of those things that would be nice to accomplish, that would be nice to execute, but may not be as important if those things fall off or don't get done because the 3 to 5 things that I'm focused on are going to 100% get me there.
So what I then do next, and I always recommend is figuring out some kind of time bound deadline, because we work best within the time that's allotted to us. I'm a big believer and get things done as quickly as possible, but also to schedule things and have a deadline in mind of, when is that drop dead date that you want to accomplish this thing by? And why is that important, and tie some real emotion to it, tie some real consequences to that. And if you're just making a deadline, just for the sake of it, you're going to know that in your head. So you want to think okay, well, why is it important for me to have this deadline? What is that going to enable me to be able to do and how is that going to speed up other things? So we can start thinking about it from this perspective, we actually take all those tasks and we can start making them into the plan that we're really shooting for and when we do that, we can start to understand, okay, how am I going to schedule this workout? How am I going to go schedule this specific activity and if I know that, I know to say talk to this third party vendor or talk with this property manager, I know I need to do that before I actually close on the deal. So I'm going to have to have some kind of schedule in mind and make sure that I have enough time in between, in order to accomplish each of these tasks, these goals, these objectives, these things that we're working towards.
As we're doing that, what I like to do on a weekly and daily basis is actually schedule every single hour on my calendar. There's a phenomenal book called Deep Work and one of the strategies that Cal Newport talks about in that book is this idea of scheduling every hour of your day. Here's the value that I've seen out of that. I've heard this from a lot of different productivity professionals. But one of the big values is that when you schedule it on your calendar, and you continue to update and upgrade your calendar as you go as things take longer, less time, you know what the framework for that day that you're working in, and those most important items have a place on your calendar that you're going to respect. Now it takes a little bit of time and we all fall off it and sometimes I have a creative moment, I need to wipe everything off my calendar and move it to another day and sometimes that happens. Sometimes it happens the other way where we have a day of just non productivity, and it's going to knock us off. But at the end of each day, I like to assess; how did I do in accomplishing those main priorities, those main tasks that I wanted to do?
So, stepping one step back, we've scheduled those most important things onto our calendar that might be this week, next week in future weeks. And so those big chunks of time are time blocked in there, that way, as we're busy professionals, as we've got phone calls or meetings or kids dance recitals, or other activities that are going on, we're able to fill those things in around it and if something else ends up being a higher priority, we know we can move that block to a different time of the day and find a different place for it. So as we're going back to this list, what we're going to do is we're going to make sure that we're working from this list every single day. So, I've talked a little bit about my weekly planning process, happy to refer you to where to find out more about that. Just hit me up at; steven@thenvestormindset.com if you have questions about that, happy to answer directly for you guys.
The other thing that you can directly do is what I like to focus on is what is my week plan going to be? What am I going to accomplish this week. And I take those tasks off of this plan, off of other plans from other objectives or goals that I'm shooting for. And I build those into; this is what I'm going to accomplish this week. And there's always things that are going to come up in the middle of the week so I like to have a little bit of slack. But I also like to make sure that I have activities that are important, but not urgent that I can fill in some of that slack time. So I'm planning every single week, every Sunday or Friday, and then I'm scheduling the night before my entire day so I know exactly what I'm going to work on. And then during the day I'm going back through and I'm reprioritizing and removing around things, like even before recording this episode, I had a few important calls come up that I had an opportunity to take so I was glad to take them, I moved this section blocked down on my calendar, I was able to bump a couple things around. Bumped a couple things to later in the week that weren't as important and was still able to get this recording done so that I could be able to deliver this value because that was one of my top priorities for the day.
In summary, at the end of the day, you got to practice the plan, this planning process that we're talking about, about capturing, about prioritizing, about eliminating, about scheduling, in order to start putting the plan into practice, which is that active part where each and every day, or each and every week, you're planning exactly what you're going to get done. So let me know on Facebook or on Instagram or on LinkedIn, go shoot me a direct message there or hit me at my email. Let me know what you think about this, was this valuable? And what are you doing to increase your productivity on the planning front. Always loving to learn and grow so please shoot some of that over to me directly.
I just want to thank you guys for being so supportive and for joining me today and upgrading and up leveling your mindset because at the end of the day, that's why I do this. I want to help and empower over a million people to live a better life through real estate. To make money and be happy. And I know that it's possible and as we upgrade our mindset, we upgrade the potential and possibility for us to be able to do that, you know, in our financial and wealth across every spectrum of our lives. So thank you guys, I love you, and we'll see you guys next time.
OUTRO: If you're an accredited investor and you're interested in learning more about our investment opportunities, the exact types of investments that I personally invest in then head over to theinvestormindset.com/invest, or send me an email at steven@vonfinch.com that's v.o.n.f.i.n.c.h.com. Thanks so much.
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