11 Tips to Overcome Information Overload in Real Estate Investing
Did you know that a Sunday edition of the New York Times carries more information than the average 19th-century citizen accessed in his entire life?
Here are just a few of the general causes of this problem:
- increasing rate at which information is being produced
- increase in available channels of incoming information (phone, email, instant messaging, etc)
- inaccuracies of information (watch out for this one!)
- pieces of info are unrelated or don’t have a overall structure relating everything together
Information Overload stops newbies dead in their tracks, causes indecision and inaction or action in too many directions.
This problem keeps experienced investors from maximizing their potential, causes time to be squandered and opportunities lost.
How to Overcome Information Overload in Real Estate Investing
1. Choose one niche when getting started in real estate investing and focus until you consider yourself an expert. Then, and only then, venture into additional niches.
2. Quality over quantity. Seek quality info from a couple or few trusted sources.
3. Create silence. Shut off your darn TV, your radio and enjoy a few moments of quietude once in a while.
4. Forget multi-tasking. Do one thing at a time.
5. Focus on “need to know,” not “nice to know” info.
6. UNSUBSCRIBE. If you’re on twelve different people’s email list, what do you expect? Are they providing you great content on a regular basis or just pitching you the new flavor of the week? Is the content provided in direct line with your current goals? If not, unsubscribe!
7. Disconnect yourself from your phone / email on a regular basis.
8. Use the Pareto principle. Also called the law of the vital few, it says that 80% of effects come from 20% of the causes. Focus on the 20% of the causes that make you money in real estate investing.
9. Ask yourself, “Is X relevant to my goals in biz and life?”
10. Make use of “dead time.” You know, when you’re sitting around waiting for your car to get serviced or in a doctor’s office. Don’t be one of those people who just sit around twiddling their thumbs.
11. Write it down. Whatever you need to get done this month, week, day, put it on paper. Get it out of your head.
There you go… now it’s time for you to put these into action.
Happy Investing!
– Patrick
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I’m the WORST one when it comes to the “Flavor of the Week” club.
I feel as if I’m being pulled in a dozen different directions when it comes to RE.
Maybe that’s why I’m always broke?
Hmm…
I totally agree. I’m exactly the same way. One of the biggest downfalls for me is constantly checking my emails.
Then at the end of the day, I ask myself why I didn’t get anything done.
Hey Pat, I am totally committed.
Great training.
Great post Pat! This is a BIGGIE for all of us… and probably one of the main causes for people not reaching their goals and getting stuff done.
Love the tips. The huge one for me is email. If I shut email off or don’t check it except a couple times a day, I usually get so much more done and am more clear headed.
Love it.
Hey Patrick…Thanks for yet another good solid article that totally nails it! I’m a major multi-tasker and hours later not even one of my small tasks is done. Enough of that! You laid out some good specific criteria that’s going to make it a lot easier for me to unsubscribe and put a limit on all that info. I’ve been in the habit of accessing trainings through links in my email instead of going directly to the website. I get lost in the maze and inadvertently end up with more trainings when I’ve just barely started the first one. Now I’ve got to bare my soul and admit that I have MORE THAN 5 BARELY STARTED TRAININGS! I don’t mean to…I really want to just focus and complete one at a time. It’s way too overwhelming this way. Now I know I definitely need to bypass email until I’ve studied for a specific amount of time…..and I will finally lay it all out on paper so I can free my head. God Bless You Patrick!
Thanks a lot for sharing your amazing website.