Rich Dad Education – Real Estate Blog

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Overcoming Fears

Overcoming Fears

Are you afraid of something?  Failure?  Success?  What others might think of you?  Not making a mistake?  Doing it perfectly?  The economy?  Changes in the real estate market? 

Fear in small doses is actually a good thing.  For instance, fear of making a mistake on a particular real estate purchase is the motivation we need to do our due diligence such as checking the title, inspecting the physical condition of the property, and verifying the market (comps, days on market, market rent, vacancy rate, etc.)

But too much fear can lead us to leap without looking, make costly mistakes, or worst yet, inaction.  In fact, fear that leads to inaction is probably the worst type of fear.  Theodore Roosevelt once said, “In any moment of decision the best thing you can do is the RIGHT THING, the next best thing is the WRONG THING, but the worst thing you can do is NOTHING”

So what is the best way of handling any and all fears?  Nike says the answer is, “Just Do It.”  I say the answer is “Calculated Action.”  Calculation means you gather information that may help you make a decision.  With this step, timing is important.  Do not take two weeks to make a two minute decision, or vice versa.  Next, act upon the information that you have.  By the way, sometimes the result of calculated action is to do nothing.  Roosevelt would say that this is an example of the RIGHT THING rather than NOTHING.

This process is how humans should handle any fear.  At its basis is our “fight or flight” response instinct.

Know that if you act on the available information, then you CANNOT make a mistake.  Don’t believe me?  Think back in your life to when you had a fear, made a decision, and then later regretted the decision you made.  (I’ll wait for you to think of a good one … )  Now, what was the Big Gift that life gave you as a result of your decision.  There is always a Big Gift; you just need to discover it.  For instance, did you learn something new about yourself?  Did you learn something new about other people?  Did you learn something about life itself?  Or, did that decision eventually lead you to something much better like the love-of-your-life?  As long as you are moving forward there are no mistakes, only big gifts.

This leads us to the final step in the process: Always Move Forward.  Let’s say you face a fear and then make a decision that is, in Roosevelt’s words, the WRONG THING.  If you always keep moving forward, then life will give you the opportunities to get to the RIGHT THING … or something even better.

Eric Buchanan  

Rich Dad Education Trainer

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