What is getting in the way of you achieving your dreams? In all aspects of life, there are things we do automatically, without thinking about them. Making your morning coffee and brushing your teeth don’t require much thought, but there are some things you should do more deliberately.
If you find yourself stuck in a rut with your renovating for profit business, it’s likely that you have developed some habits that are getting in the way of achieving your dreams.
We have grouped the top ten habits that could be killing your dreams into three categories:
- Strategies
- Action
- Renovating
Let’s look at how you can stop getting in your way and start succeeding with your renovating.
Do You Lack Clear Strategies For Your Renovations?
You have a goal you want to achieve through renovating. Whether your dream is to replace your current income, create more flexibility, or fund your retirement, your goal must be backed by a solid plan.
Not only does each project need a clear strategy for it to be beautiful and profitable, but you need to know how to make your business grow. These three tips can take your business to new heights.
#1: Set your goals for each day
Like many people, Bernadette struggles to stay on track. So, she reviews her goals every morning to help her avoid distractions and keep on top of her tasks. She advises you to set aside some time to evaluate your plans for the day and determine whether they will get you closer to your goal.
#2: Get clear about your outcome
Do you have a lofty goal of building wealth and securing a financial future for yourself and your children? Unfortunately, you will never get there if you aren’t doing anything with your property or working part-time for minimum wage.
You have to take serious action to get the outcome you want.”
Women are emotional beings, and it is common for you to live in a universe where you are constantly hoping for things to work out without doing what needs to be done.
You might have to work full-time to become serviceable to be able to purchase a property. Or you may need to be strict about working out and sticking to a budget to save enough money to put down a deposit on a property.
Get clear on your outcome so that you can take the actions consistent with your goal.”
The world starts working with you as soon as you know what you want to achieve and how you will get there. Magic happens as soon as you start taking action.
The more you focus on what you want to get out of your life, the more things open up.”
Your list of goals and ensuring they are top of mind determines your income potential.
#3: Know your “why”
Simon Senek wrote the book: “Start with why”. So, what is the motivation behind your goals?
We have worked with women who seemed to have big, audacious goals and seemingly didn’t have to work very hard to make them a reality.
Instead of working harder, they worked smarter, and were highly motivated. So, get in touch with your “why”.
What’s Stopping You From Taking Action To Make Your Renovating Dreams Come True?
The only way to make your renovating dreams a reality is to take action. However, it is easy to find excuses that prevent you from moving forward.
#4: Find the opportunities in uncertain times
At the beginning of the COVID pandemic, people were scared of taking action due to the uncertainty that was suddenly thrust upon us. Therefore, it was less frightening to sit back and wait and see what happened.
If you are determined to succeed, you must be able to work with uncertainty. Of course, you still need to exercise discretion, but you should constantly watch what is happening in the market.
It’s during times of uncertainty that opportunities arise. Many people grow the bulk of their wealth during times of uncertainty and perceived negativity.
So try to flip it on its head and think: things are changing, but what opportunities are that creating for me?”
#5: Learn to use a “poverty mindset” to your advantage
A poverty mindset can be an asset in renovating because it can help you keep the budget tight. However, it can also be your biggest stumbling block.
It pays to spend money getting advice that helps you work faster and succeed. For example, we encourage you to use a buyer’s agent to source your properties. When you pay someone to help you find the perfect property for your next project, you can avoid having costly delays between projects.
So keep your poverty mindset for when it’s going to serve you.”
Do You Have A Good Renovating Process?
Your renovating processes must support your goals. Project management, quality renovations, and learning to roll with the punches will get you where you want to be.
#6: Step up your project management
Project management begins with a sound feasibility study followed by plotting out the plan and the timeline for your renovation. Rising interest rates can make a dent in your profit if you take too long to complete your project, so doing your due diligence to ensure the work is completed in good time makes good business sense.
Good quality work relies on reliable trades. And if you want the project to be completed according to your timeline, it’s crucial for you to take your time to hire the right people and keep them informed of when you expect the work to be done.
#7: Deliver good quality for less
Do you suffer from the “only the best will do mentality”? We agree that you should be buying good quality products. However, when renovating, you need to learn how to get good quality without spending too much money.
If you believe that the most expensive is always the best, you will find it challenging to stick to your budget. It helps to build up a repertoire of products and consultants you regularly use that you know will deliver good value for money.
#8: Don’t let perfectionism trip you up
Being a perfectionist can make everything more complex, including making decisions. Sometimes you have to make a decision and move on instead of spending days trying to determine whether the choice you made is absolutely perfect.
Once you have two or three projects under your belt, you will have built up a repertoire of products, as well as the styles and colours you prefer. So the decisions become easier the more renovations you complete.
“It’s not about delivering an inferior product. It’s about staying in touch with reality and making the best decision you can with the information you have at the time. And then moving on because time costs you as much as your choices do. The longer you procrastinate, the more negatively it will impact your project.”
~ Bernadette Janson
#9: “Don’t sweat the small stuff”
Relationships with the people you work with, whether your joint venture partner or your trades, are where the small stuff crops up. Bernadette will always tell her joint venture students that they will not like each other very much at some point in the project.
You may feel like you are doing more than your fair share of the work or disagree with one another over an aspect of the renovation. However, those feelings are frequently the result of the pressure you are under at the time. So, work through it and finish the project so you can readjust for the next one.
#10: Accept the blame when things don’t go according to plan
When you are managing a renovation project, the buck stops with you. So, you can’t lay the blame for things that go wrong at everyone else’s feet.
To ensure a good outcome, you must take control of the project, hire a conscientious project manager and look after your trades. You can effectively work to your budget and timeline when you have your finger on the pulse.
Conclusion: Ten Tips For Achieving Your Dreams
We started with a negative heading that we have turned into ten positive tips to help you achieve your renovating dreams. Positivity will drive you forwards. However, sometimes, we need to look at the negatives to address them, change them, and develop strategies to overcome them.
If you want to meet up with a group of savvy renovators, come over and join the She Renovates Facebook group. It is full of (mostly) women working hard to make their dreams a reality, making a great income through renovating for profit.
