Motivational Monday – What’s keeping you from achieving your goals?

The 90/10 rule

This motivational Monday series will be dedicated to helping you become more successful with your self-storage real estate goals. We are going to discuss how to determine what is the best thing to focus your time on, delegating, planning, education, networking and mentoring just to name a few. The goal of these articles is to help you achieve your self-storage goals.

The first thing to identify is what is your self-storage goal. Do you want to buy more self-storage properties? Do you want to get your current self-storage properties operating better? Do you want to do both? Do you have no time and so you need to delegate some of the things that you are doing? Only you can determine what your goals are.

There are a lot of things that can sidetrack you from being successful without your realizing that you are being sidetracked. For example, you might spend your time building a great self-storage website, but not actually advertising the website. While the website is great and nice to have, if no one knows that it exists what is the point?

This is also true of back office manuals. While you need training materials and great systems in place, if you don’t own a self-storage facility, they aren’t actually going to do you any good.

You should be focusing 90% of your time on finding a property and 10% of your time working on the manuals. The 90/10 rule is a good rule of thumb. You want to spend 90% of your business time building your business and 10% of your time working on the back end items.

Things that build your business are making offers, networking, talking to owners, advertising, anything that might help you find a new property. It also includes finding new tenants or working on your remodel or new construction. The 10% includes things like creating training manuals, working on fine tuning your website, perfecting your systems. These are all things that you need to have, but they are not things that are going to make you money.

So, if you plan to spend 90% of your allotted business hours on things that will make you money and 10% of your time on everything else, you will find that you will come much closer to your goals much faster. As always, happy investing.