The Uncertainty Advantage -- Changing Your Perspective Mid-Crisis

[Ketan Patel]

The overarching feeling at the moment—both in business and life in general—is one of uncertainty. What does the future of our business, our country, and our world look like?

Uncertainty is just a part of life—that’s undeniable. It can come in amounts both small and large—this time, unfortunately, it is particularly large.

The economy is going to crash—what do I do?

My property values are going to plummet, what will I do?

If you’re like most investors, you’re probably laser-focused on these questions right now, and that feeling of uncertainty is permeating your entire life.

However, at this moment we are presented with a rare opportunity—we have the time to assess ourselves and our business and create better versions of both.

By taking a step back and reminding yourself that every situation has more than one perspective.

Perspective is your power over the situation because perspective lives in you.

Perspective 1 – The economy is crashing all around me and will continue to struggle for the foreseeable future. I chose a terrible time to get into real estate, and worse I have failed to prepare properly.

Perspective 2 – I see failures, obstacles, and challenges as opportunities for growth. How can I use this situation to make my business better? How can I use this situation to become a stronger, more effective real estate investor?

Taking a look at these two perspectives on uncertainty…

• Ask yourself what feeling(s) is this uncertainty stimulating in you—fear, confidence, creativity, etc.?

• Examine the feeling you have. How is that unconscious feeling driving your perspective?

• Learn what you can from your feeling and subsequent perspective (what led you there? Is it positive or negative? How can you change your business to be stronger based on this information?).

• Finally, create a strategy that is informed by what you have learned and be prepared to put it into action when the time comes.

Without this opportunity (this sudden influx of free time), you might not even have gotten the chance to truly reflect and rebuild.

This entire situation probably has you firmly placed outside your comfort zone already, so you’re in a perfect position to do some outside-the-box thinking. That thinking is absolutely necessary if you truly want to grow.

The take-away here is, whether in two-weeks, six-months, or a year, this is going to pass. When it does, will you look back and say to yourself, I took advantage of the situation and learned how to turn my negative perspective (feelings of uncertainty, failure, lack of systems or strategy, etc.) into opportunities for success.

Or…

Are you going to look back and see someone who operated from the perspective of fear and uncertainty?

It’s all a matter of the perspective from which you choose to operate.