As the new year approaches it is a great time to look back at what you have accomplished the past year but it is also important to look at what did not serve you as well. In this episode, Steven shares with us some strategies we can implement in order to avoid making more mistakes and achieve the financial freedom we want.
As the new year approaches it is a great time to look back at what you have accomplished the past year but it is also important to look at what did not serve you as well. In this episode, Steven shares with us some strategies we can implement in order to avoid making more mistakes and achieve the financial freedom we want.
Key Takeaways:
Steven Pesavento 00:05
This is the investor mindset podcasts. 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. And each episode we explore lessons on motivation and mindset for the most successful real estate investors and entrepreneurs in the nation.
Steven Pesavento 00:32
As we get to the end of the year, I think it's so important to be reminded about why it's so critical to understand what are the things that we're doing that are working? And what are the things that aren't serving our vision and purpose. Today's episode may talk about why this is so important where people get caught up, and how you can overcome and make some differences in your own life. So where do people get caught up happens all the time, you're having some success, you're going down the path, you're feeling good, you're feeling like everything is starting to go in your direction. And then you think to yourself, hey, well, I no longer need to do this habit or this exercise or continue to work with this professional or coach or expert. I think I've got it on my own. And you quickly end up seeing yourself driving directly into that median or, or worse, not being able to fulfill on any of the promises that you've made to yourself or to others. And so what is happening here? Well, it's when people are having lots of success, they end up forgetting that one of the key reasons they were having that success was the actions that they were taking on a daily and weekly basis. And the people that were they were working with, they've hired they've partnered with, or they brought into the world that are helping them stay in alignment, and move towards that direction that that they want to go in. It happens all the time. You see this at companies when they hit massive amounts of success, they start forgetting what got them to that success in the first place. And when we forget about what got us to that success in the first place, we end up falling flat on our face. So we want to avoid that at all costs. So how do we end up avoiding that at all cost? Well, one of the ways that we're going to do that is we are going to continuously build a habit of checking in with ourselves. So there's a lot of different ways to do this, the way I'm going to show you is the way that I personally go about checking with myself and understanding what's working and what isn't, and how I can continuously check in so that I can continuously make adjustments to the direction and make sure that I'm in alignment with my vision. So that exercise that activity that you can do is you're going to sit down, you're gonna get out a handy dandy piece of paper. And you're going to get that piece of paper out. And you're going to simply journal to yourself, what has been working this month, what has gone well, this exercise is phenomenal for helping you realize what accomplishments you've already made, what you can be grateful for what you would actually set out to do, but you have yet to accomplish, and really helps you stay on track. So after you write these different things down, you're understanding what has been working and what has not been working, you can quickly identify Well, these different activities are going well. Now we asked ourselves, what was part of contributing to those activities going well, that is when we actually are going to start identifying what we need to keep doing. And so what are some of the things that often come up. When we're doing this activity, we'll see habits habits like meditation, getting enough sleep, avoiding eating two or three hours before bed, might be things like working out could be things like working out with your trainer, or a specific type of workout it could be working with your coach could be working with a mentor, it could be journaling. These are some of the habits that you're going to see that might come up. On the business side, you might see different activities that you've been doing that have been resulting in lots of leads coming in, in your team working more effectively, whatever these different activities are activities we want to identify. We want to make sure we can then create a habit of those activities and make sure we can create a system and process so that we keep doing them. Because one of the biggest mistakes people make, like I've said is that they start having massive success. And then they think to themselves. I want to take a break from doing that activity. And what they do is they're riding up they hit a plateau, they hit they're on that plateau right now and they decide well I'm on that plateau, I want to take a break. And what do they do? Well, they end up crashing down, and they end up creating this roller coaster effect that ends up preventing them from ever feeling like they're really hitting that consistency that they want. And they're consistently going through this roller coaster of feeling great, feeling like they're losing their momentum, hitting rock bottom, and then coming back up and back down. We want to avoid that at all cost. So
Steven Pesavento 05:29
we need to sit down and do this exercise on a regular basis. And it's really important. I mean, ask yourself the question, where in my life, am I self sabotaging and causing myself to quit doing the things that made me most successful in the first place? We see this all the time, when it comes to investing, people will quickly get into the action steps necessary to do the due diligence to start looking at deals, start underwriting to start getting familiar with sponsors start getting comfortable, they'll make an investment, they'll start understanding what's happening with that investment. They'll make a second investment, and then all of a sudden, somewhere along this path, they think to themselves, hey, I'm good. I no longer need to keep doing this. They fall out of that habit. And then they wonder to themselves, why do I feel a lack of confidence around making this decision to get back into investing? Again, this happens all the time with coaching. People see massive success. And then they think to themselves, hey, well, I now have accomplished what I originally wanted to. Or I feel like I'm making progress towards that accomplishment I've yet to get there. I'm going to go on my own. And what they end up doing is they crash, they come back to their coach, their coach, get them back on track, and they crash. And it's one of those things you want to avoid at all costs. We see this a lot within the gym industry, people working with personal trainers at the beginning of the year, the place is packed, people are having these actions. They're feeling good, they stop they go back to their life. So I have to ask you, where do you think you're doing this in your life right now? What decisions or actions have you taken within the last 23468 weeks that have actually stopped you from doing the things that got you to that success in the first place? Ask yourself that let me know down in the comments below. If you're watching on YouTube, or shoot me a DM at Steven pesavento on Instagram, I would love to hear what actions you're recognizing that you need to keep doing. And most importantly, how are you going to start taking action on that, again, appreciate you joining us for another episode. I love being able to impact and inspire millions of people to live a better life. And I believe there's no better way to do that through real estate. We're on a mission to help liberate people from having to work. And there's no better way to do that by then by creating cash flow and equity growth through real estate investing. So thank you for diving in learning a little bit more about how you can make some changes in your own life living with that investor mindset or in taking action. Thank you so much, and we'll see you on the next episode. Thank you for listening to the investor mindset podcast. If you like what you heard, make sure to rate review, subscribe and share with a friend. Head over to the investor mindset.com to join the insider club where we share tools and strategies from the top investors and entrepreneurs and how to take it to the next level.