Summary of Business Pathfinder Podcast Episode: Ep. 54: Fear of Making a Mistake
— Description —
Kristin Morrison emphasizes the importance of being of service and providing assistance to others, aiming to help Rachel, a banking lender, overcome fear and imposter syndrome in real estate transactions and rental properties Rachel plans to prioritize the CRM, break down tasks into smaller steps, and use Focusmate for daily check-ins to overcome procrastination and achieve her goals As a real estate professional, Rachel aims to increase her passive income to $4,000 a month
She grapples with fear and imposter syndrome but acknowledges her support system and ability to pivot if something goes wrong Kristin suggests using an accountability buddy and recommends using Focusmate for virtual co-working to support Rachel Additionally, there is a need to focus on developing systems and processes for more consistency in business operations, and to shift mindset when considering speaking engagements and reaching out to contacts
Rachel plans to create a habit around using the CRM and aims for 10 entries a day, utilizing Focusmate for daily check-ins to provide a sense of accomplishment and overcome procrastination.
Ep. 54: Fear of Making a Mistake
Key Takeaways
- Kristin Morrison emphasizes the importance of being of service and providing assistance to others.
- Rachel, a banking lender, grapples with fear and imposter syndrome in real estate transactions and rental properties.
- Kristin aims to help Rachel overcome procrastination and fear by suggesting an accountability buddy and using Focusmate for virtual co-working.
- Rachel plans to prioritize the CRM, break down tasks into smaller steps, and use Focusmate for daily check-ins to overcome procrastination and achieve her goals.
Overcome Fear and Procrastination
- Kristin Morrison emphasizes the purpose of being of service in the world and providing assistance to people in need.
- Rachel, a banking lender, expresses fear around making a mistake in real estate transactions and rental properties.
- Kristin aims to help Rachel understand her fear and overcome procrastination that is hindering her progress.
Real Estate Professional with Diverse Investments
- As a real estate professional, I have been involved in the industry for about six years, initially starting in mortgages and gradually transitioning to become an investor.
- My primary focus is on lending, particularly in shorter term lending such as double closes, EMD lending, and some bridge lending.
- Additionally, I am involved in buying houses for buy and hold purposes, with the aim of increasing my passive or semi-passive income to $4,000 a month.
Rachel's Fear Won't Stop Her
- Rachel expects her net passive income to increase due to a new house project, aiming for $4,000 a month in passive income based on her living expenses and comfort level.
- Rachel grapples with fear and imposter syndrome, worrying about making a catastrophic mistake, but acknowledges her support system and ability to pivot if something goes wrong.
- She tends to sit with fear until she decides to take action, struggling with calling a specific list of people to build connections for her lending business and feeling nervous about having a goal in mind.
Shift from Ego to Service
- When considering speaking engagements, focus on being of service to the audience rather than what can be gained personally. This shift in mindset can help dissipate fear and lead to a more impactful presentation.
- When reaching out to contacts, prioritize those with whom a conversation could have the most significant impact, starting with the low-hanging fruit. The goal is to leave both parties feeling fantastic after the conversation.
- Consider honoring contacts by engaging with their Facebook posts, such as liking or commenting, as a way to maintain connections and show support.
- Additionally, there is a need to focus on developing systems and processes for more consistency in business operations.
Stop Procrastinating, Take Action Now
- It's ready, I just have to do it. Okay, so this is another procrastination.
- That is, it actually has impact for what we just spoke about, right?
- I would say the CRM and completing that is going to be really important.
- I think it would depend on the person, but somebody like you, they were, let's say, very similar to you for your temperament, your personality.
- I would say probably some kind of accountability.
Make CRM a Priority Now!
- Kristin suggests using an accountability buddy for support and recommends using Focusmate for virtual co-working.
- Kristin emphasizes the importance of making CRM a priority and breaking down tasks into smaller, achievable steps.
- Rachel plans to create a habit around using the CRM by entering a name, phone number, and connecting with the person, aiming for 10 entries a day.
Maximize Productivity with Small Steps
- Using Focusmate for daily check-ins can provide a sense of satisfaction, similar to completing a to-do list item.
- The built-in accountability buddy feature in Focusmate, whether it's a matched stranger or a favorite previous partner, can enhance the experience.
- Feeling a sense of accomplishment after overcoming procrastination is significant, and the use of small steps to initiate action can lead to a positive outcome.