Organizational Skills are an Extremely Important Technology

Organizational Skills are an Extremely Important Technology

Member since 2018 · 25 posts · 32 votes

To operate a successful Real Estate investing business, or any business (really), it's super important to have a good organization system to follow to make sure you don't forget anything, don't miss anything, attend appointments and meetings in a timely manner without forgetting about them, do the things you say you will do, and so on.

I have seen so many people who have not built the skills to manage the crazy amount of information we all have these days, without "dropping anything on the floor" by accident.  The truth is, we are all human beings - and, as such, are not designed to remember too many things all at once, especially if they're tied to specific day & time, or location. We are not robots with calculating mathematical brains - we actually have creative brains instead. Our most powerful mental activity is the creative part, not the memorizing-everything part.

If you struggle with forgetting important things, times, dates, places, people names, meetings, appointments, reservations - please stop beating yourself up about it. Nobody can handle those things very well on their own.  There's nothing wrong with you. The trick is to follow a system that keeps all of your life data organized.

Understand that as your business grows, as your investments grow, you will need to retain more and more data - more and more appointments! addresses! prices! contacts! locations! Repair Lists! Supply lists! If you're struggling now, how are you ever going to handle it later when you have more abundance? You need a way to handle everything you have today, and scale it up to 2X or 3X that quantity of information, easily and comfortably. You may be holding back right now, because you have that sinking feeling in the back of your mind, "I'm going to screw this up royally when I forget important stuff; I know it."  This is an understandable feeling, and probably pretty accurate. It just means you need a way to handle all the things from now on.

Luckily, many other people have gone before us, and figured out how to do exactly that.  Some people have studied the behaviors of the most successful people in our society, and written books telling in great detail how those people successfully do what they do! You just need to find and read those books, and follow the advice, customizing it to your own preferences and environment.

The best of all of those organization systems I have ever found is Getting Things Done by David Allen. It's extremely detailed, but when followed, can help you conquer all the "stuff" of your life. It's not enough to just have a digital calendar and a list of tasks to do. We need a way of handling all the inputs - email, physical mail & bills, twitter/facebook/instagram posts, phone conversations with friends & business partners, etc.  When you have adopted a system to manage all the incoming stuff, and give yourself time to manage all of your ongoing projects at various levels, you become much more powerful at knowing what to work on next, and how to spend your time and energy for maximum results.

It may sound counterintuitive to spend some time each week just on organizing your tasks and projects, instead of getting all those tasks done - but it's worth it, and doesn't waste your time when you know what to do. GTD calls that a weekly review where you edit your task lists, project lists, and review your goals and vision plan to begin new projects that help further your goals towards your vision.

Anyway. I strongly recommend reading books like Getting Things Done to help you stay organized. I have been following those principles for about 10 years now, and succeeded in building my real estate business to a very high degree, all while still working full-time as a software developer. My software development jobs never "got me out of the rat race" after 35 years of hard work. But real estate did; it took me about 14 years. And I'm extremely grateful to David Allen and the GTD system for its powerful effect in my life, enabling me to do this.  I don't think I could have done it without a system like it.

Stop beating yourself up for missing appointments and forgetting stuff - for not having qualities you were never born with. Nobody automatically has those things. Instead, implement a system to track and remind yourself of everything going on, in a way that helps you stay focused on immediate tasks, but still retains the big-picture of what you're trying to do and why. Use a system that helps you make progress on ALL of your projects, both personal ones and business ones. It's powerful, and will let you sleep more soundly at night. At least it does for me.  So many others have done this, and you can, too.  I know you can.

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  • Accountant · CO · Member since 2018 · 195 posts · 23 votes
    4y

    @Paul Balyoz  Hi Paul, I've been trying to invest for four years, and I finally realized that the main reason for my investing failure is that I dont have a system setup. I am glad that I peeled the onion and found the truth that holds me back. Utilizing technology to organize/systemize the business is the key to success. When I searched this topic in the Bigger pocket, I found your post, which is exactly what I am looking for! I wish more people could see from your standpoint, which is powerful! Thank you for sharing the book. I will start my reading today.

    One more question for you. Any recommendations to software/program to organize the information you mentioned above? I've been using MS Onenote, but I wonder if there is anything better out there. Thank you! 

    Have a blessed day! 

  • Member since 2018 · 25 posts · 32 votes
    4y

    Hi Ashley, I'm glad you found my post! There is no single perfect app for GTD. There are apps claiming to implement GTD, however I found all of those to be cumbersome and not fun to use.

    I just use Trello which is a free and easy to use lists-of-lists app. It works on all phones, tablets, and PCs (via web site). The basic version is free, which the version I used for many years (now I pay for some more advanced features).  I have a "board" for all of my Projects, a board for all of my Tasks organized by context, a Vision board for what I really want in the future, a Properties board for all of my rental properties and flips while working on them, and even a Shopping board for our grocery list, home repair store list, and other stores.  That way, when I realize "I need more 2.5 inch deck screws," that goes on the Home Depot list immediately and I keep working on whatever I was doing. "We need milk and eggs," makes me throw "milk" and "eggs" onto the grocery list real quick. I shared that grocery list with my wife, so we both can add/remove items from those lists. Sometimes I'm at the grocery store buying the 5 items I saw on the list, and suddenly more things start appearing - my wife is going thru the fridge and adding more items we need  :)  It seems to synchronize between people & devices very quickly and accurately, which is great.

    It's important that the software be easy and fun for you to use, and not restrict you too much. And be with you wherever you need it. Everyone's different. 

    The first list on my Task board is "inbox" - if I need to record a thought real quick, I just add it to that list, knowing I will see it later and move it to the right place, wherever it should really go. When you're in the middle of something you don't want to really be interrupted - but you also don't want to lose that stray thought that's really important!  Add it to your inbox, and figure out later what it is, and where it should go.  Later decide: is it a project? a vision item? a task? something to research on the Internet?  My friend just told me of a great movie I should see or a great song to stream - throw it on the inbox! Now I won't forget the name. I usually say "let me write that down," followed ironically by furious typing on my cell phone.

    I love having a thought, recording it quickly and moving on, knowing that I will never lose it now. It doesn't have to recur over and over for me to act on it.  Because it might not visit again in time, and the opportunity is lost. That used to happen so often... now I never lose anything. I also sleep better at night.

    When I have a serious problem or I fail spectacularly at something, I irritatedly ask the question: "how do I make this NEVER happen again?" Then my brain kicks in: what steps can I take every time in the future to make sure THIS doesn't happen again?  Like if you forgot to check the roof on a property you just bought, and it needs a new roof, which is going to cost you a lot of money. Oops! The way to never let that happen again is to add "check age of roof" to your property inspection checklist. Now you will be reminded to have an expert look at the roof on all future properties. After you have an answer to "age of roof", then you check that item off the list. Commit to NEVER buying any property until every item is checked off the list. And, you're always adding more things to the list as they come up, and removing or rewriting outdated items, to make it better and better over time. It's a living document. The moment you realize something is missing from the checklist, add a task (to your inbox!) like "put 'Test Garbage Disposal' to the inspection checklist". That way you'll see it when you get home. Spend time sorting all your inbox items daily if you can. That doesn't mean doing them immediately. You can, if they're quick enough; maybe schedule the longer ones for later.

    There's an old saying you've probably heard: "fool me once, shame on you; fool me twice, shame on me."  I love that saying because if something bad happens that I never expected, well, I just add a check for it to my system so that I will catch it next time.  Because if I'm tricked by the same thing again, well... I hate to admit it, but that's kind of my own fault.

    Good luck, -paul

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