Doing the impossible
Posted on June 25, 2008 - Filed Under Business |
**My apologies for the late addition today. Internet gremlins disrupted my service.**
I was nearly 11 when I bought my first GI Joe comic book. When we got home from our montly shopping trip to the “big city” I darted into my bedroom, closed the door and started consuming it.
The characters were talking about a mission and someone said “This will be impossible.”
Their leader, Duke, said “Our job is to do the impossible. And make it look easy.”
That was cool.
Tim wrote this excellent article, talking about how it is easier to accomplish big goals rather than mediocre ones. His explanation is right on the money: big goals have less competition.
Per his explanation, “99% of the world is convinced they are incapable of achieving great things, so they aim for the mediocre middle-ground”
What qualifies as “mediocre”? This plays into our “point of view” of the world. Levels exist which I personally believe qualifies as mediocre yet others believe are the pinnacles of existence.
Many moons ago, before purchasing Property#1, the idea of buying was pitched to nearly every person I knew. An overwhelming majority said the same thing “You can’t do that. It’s Southern California. You don’t make enough money.”
The alternative, the mediocre path, called for me to become a Manager. The problem: nearly 150 people apply for each manager position. With nearly all applicants being qualified, how in the world do you beat out 150 people for one single position?
On Property#1, ten of us submitted bids. Only 10. Seven of which were low-ball offers. Three of us were countered with myself coming out on top.
In the grand scheme, taking on 10 people was much easier than 150. Advanced degrees were not necessary nor did my last name have to match the last name of a Vice President. I didn’t have to sell myself to a group of people, who could summarily dismiss me because they’re jealous of my tie.
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2 Responses to “Doing the impossible”
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Cliff,
I am not sure I understand this last post. By “winning” you mean you were willing to pay more than the next guy for a property? Has this property made money yet? If not, then I would dare say that perhaps ‘winning’ is not the right term, at least not yet. When you turn it for a profit, more than simply putting the money in the bank would have returned, then I would consider this a win (notice, when it meets my definition, I excluded the quotes).
Also, I am not sure avoiding smaller goals is such a good thing. Personally, I like little “attaboys” along the way. I do not think it should side track you, but if a mediocore goal is along the path, why not take it on. As a manager, you might have more disposible income to create an alternative revenue stream. Of course, you might also lose time, something even money cannot buy… All goals should be carefully evaluated to make sure they help you achieve your end game.
@Steve: As someone who is in real estate I’m sure you’ll agree with me that offering more money for a property does not constitute the best deal. For the first property I restructured the terms of my offer which appealed to the seller.
As far as what the property has done: yes, it has been a “winner” all the way around. Not only did I make money on the property but I learned a lot about investing, rehabs, dealing with contractors, employing people . . .
But as I stated before, Property#2 is considered a bigger “winner” even though I may lose money on that deal. I made some huge mistakes with this project. Thanks to this blog, those mistakes were very public. But I learned some hard lessons; lessons which will serve me well on the next project.
As far as avoiding smaller goals: we’re now on the slippery slope of paradigm. What defines a smaller goal? In this context, I believe you’re saying “smaller” = “mediocre”. I think being a manager at my place of employment is a mediocre goal. Yet someone else believes this to be the “end all be all” of life as they know it. Fine. I thought buying a duplex in SoCal was a huge accomplishment. But someone else who buys 100 unit complexes may think buying a duplex is mediocre.
I agree all goals should be evaluated to ensure the end game is achieved. For me, being a manager at my company is not a goal. My end game is to be an investor and entrepreneur. “Manager” does not fit into that.