Obstacles Every Note Professional Needs to Overcome
When starting a new note business, you will undoubtedly have many challenges ahead of you. If being a successful note professional was easy, everyone would be doing it. Of course, success is definitely possible, and if you are truly determined you increase your chances of success by 1000 percent. And if you can overcome the following common obstacles to success, you will give yourself the best possible odds of achieving your note business goals.
Thinking, Not Doing – The first stages of a new note business all in the mind. You need to spend time thinking about all the strategies and processes involved in achieving your note business goals. However, there comes a time when you must act. It is far easier to think than to do, and some people can get stuck in the planning stage and never actually get started.
The only way you are going to make your note business a reality is by getting out there and taking action. Of course, this can be scary, but pushing through the fear with action is the only way to succeed.
Trying to Please – No note business professional became successful by trying to please everyone, all of the time. I am talking about note holders, note investors, real estate attorneys, title companies, servicers and the like. When you develop your own note business plan, you must be careful not to dilute or distort your business by trying to make everyone happy or worrying too much about what others think. This also might include your parents, friends and associates too!
Blaming Others – There will be times in your note business, in the beginning and beyond, when everything seeming to be going wrong. This is a natural part of becoming a note professional. However, focusing all your thoughts and energy on blaming someone or something else for your struggles just drains you of the energy you need to find solutions for overcoming them. Accept responsibility where appropriate, and try to let go of any anger you feel about things that are outside of your control.
Lack of Self Confidence – If you are putting up your own barriers to your success in the note business, no one else will be able to tear them down. You need to believe within yourself that you really can achieve your ultimate note business goals. Many of the people who have made a difference before you have achieved great things in the note business simply because they had a great deal of drive, determination, and self-confidence.
Being Closed-Minded – Always be on the lookout for ways to develop your skills and understanding. Stay on top of what is happening in the note industry, and try to keep that creative spark alive and continually learn more about the world around you both personally and professionally.
Now that you are aware of the obstacles that we all face, you will have a much better chance of overcoming them. Remember success demands action, keep on marketing, it’s going to work! TWITA! (That’s What I’m Talkin’ About!)
Jeff Armstrong of Armstrong Capital has been a note investor and broker specializing in the performing seller financed note industry since 1991. For more updated and current information on how he can help you with your note business, your note investments or to request a quote on a note you currently have visit www.armstrongcapital.com to email him and subscribe to his weekly Note-Able Newsletter.