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Your time is your most important resource. But how is your time different when you make the switch from being a 9-5 employee to being a business owner? Can your emotional resilience, or lack thereof, make you lose weeks or even months on over analyzing your defeats? Is owning a real estate business a sprint or a marathon? On this episode, we share our experience with time management.

Emotional resilience is one of the key traits to become a successful person in general, but definitely being a business. -Matt Johnson

Three Things We Learned

When planning take into the equation your energy not only time

Often times, we see ourselves using our time doing what we want, not what needs to be done. But not only do we put excitement over responsibility, we also take the employee mindset with us. For a business owner, it’s harder to sit 8-10 hours working every day compared to an employee who doesn’t have the pressure of maintaining the business. Business owners not only sit down and get the work done but they also do most of the problem-solving. This usually impacts their energy levels, because you can only have so much mental energy.

Stay emotionally resilient

When you make a mistake as an employee, it’s easier to deal with it. The project is not yours. You just happen to be the one who works on it. But as a business owner, the blows hit closer to home. Don’t set goals that you’re emotionally attached to, as this will only lead to self-sabotage.

Take the hit, but don’t let it govern you. Emotional resilience is what makes business owners perseverant and happy with themselves and the success of others.

It’s a marathon, not a sprint

Prioritizing is more important than throwing all the balls in the game, simply because there are tasks that should be done urgently and goals that you don’t have the resources to reach right away. While you may be tempted to do everything faster, the one factor that usually pushes things the most is the focus—and focus is a finite resource. And since it’s so finite, there’s only so much so many sprints you can take in a business before you collapse.

Key Quotes

A lot of us put fun and excitement above what we need to be doing. – Greg McDaniel

There is less time in a day than your mind thinks it is, and what is even more important than how much time there is, is how much energy. – Matt Johnson

Don’t mistake being competitive for discounting yourself. Lowering your commissions a little bit in the beginning is fine. But when your entire selling point gravitates around a low price point and not around providing value, you cause harm to both your wallet and clients. You can only do so much for you and your clients if you’re working on a very limited budget, which will make you, and the seller, go home with less money.

Click here to download your free PDF, Greg’s Favorite Scripts, featuring scripts for buyer and seller lead follow up, price reduction and objection handler scripts and much more.