These words can mean your future: accountability and outcome.
In this post, I want to talk to you about two very important words that are important to your future as a property entrepreneur, as an entrepreneur full stop, or as a business owner: outcomes and accountability.
CLARITY IN OUTCOMES
Everyone is looking for a certain outcome in business or property ownership. And most people think that it’s financial freedom or the money or the big prize. It’s good to know where the outcomes lie because I’m always telling you that clarity is power.
It’s okay to start in confusion, but you want to move into clarity.
Clarity is power and the thing that you want to get clear on is the outcome. However, most people grossly overestimate what they can achieve in 1 year but they grossly underestimate what they can achieve in 5 years.
So the outcomes need to be broken down.
How?
You need to have your big outcomes: the dollar value, project size, etc. Each one of those big outcomes ultimately is broken down into a whole lot of small outcomes.
For example, if you’re looking to succeed at a renovation, you’ve got to find that renovation site. Since doing so might require some phone calls, you have to make sure that every phone call you make has an outcome. So think about the outcome that you want in every call. Make that’s clear before you pick up the phone.
And before you go into an auction, a meeting, a council, or a debrief session, you want to be clear about the outcome that you want.
You want them to pass your plans, stamp the approval, and give you everything you’ve got. But that’s the big outcome. The small outcomes may be that you want to build rapport or get people on-site and do a whole heap of small things because it’s the small things that lead to the big outcomes.
ACCOUNTABILITY IN OUTCOMES
The second word I want to share with you is ‘accountability.’ Accountability means who you are accountable to. You’re accountable to a whole heap of things. You’re accountable to your family, partner, children, business, marketplace, etc. There’s accountability everywhere in what we do.
Here’s the thing I do know about property entrepreneurship: if you’re going to be a successful renovator, developer, share trader, or a distressed property buyer, or as a business person in general, know that most accountability equates to money.
And of all the people you’re accountable to, the most important person you’re accountable to is yourself.
With regards to the business that you run, there’s only a handful of things that you need to be checking on a daily or weekly basis that ensures your success.
For example, if you’re out in the marketplace looking for a deal, there’s a certain amount of accountability that comes with that. You have to decide based on what we call the seven productive behaviours that produce big results.
And then, you have to make yourself accountable. You need to tabulate this Monday to Friday or Saturday and put these 7 things down and you need to fill them in every single day. Over time, you will see this bear fruit.
Many people who are pumped up start off strong but at the moment they meet an obstacle, they start to lose focus and they lose accountability.
They’re the only one keeping themselves accountable and they start to break integrity with their word.
If you want to be in that category of successful people, get these words:
The first one is ‘outcome.’
What small outcomes do I want here that will lead to the bigger outcome?
And more importantly ‘accountability.’
What accountability must I have in my schedule or plan to deliver the result I want?
Remember, if you can’t measure it, you can’t manage it.
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