DO IT. Sean's Success Formula Step 5
“I always think of this phase in terms of if I were going to take an actual road trip. Once you understand where you want to go and where you are, then you can start mapping your route. ”
Welcome to the Next Level American Dream Podcast! Are you ready to start taking your American Dream to the next level through passive investing? The hosts, Sean and Abigail, are a father-daughter duo, trying to accomplish their goal of financial freedom through multifamily real estate. Over the next month, we will be discussing Sean’s ‘Success Formula’. Each week, we will break down one of the 5 phases of this formula: Dream It, Believe It, Learn It, Plan It, and Do It. We are very excited to share this insightful information and hope to help you integrate this Success Formula into your life and business.
Takeaways
Action has to happen in order for you to achieve your goals
The success formula is fluid once you hit the application
All you need is that one win to start seeing success
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SUMMARY KEYWORDS
action, dream, win, phase, formula, plan, failures, american dream, learn, work, success, losing, phone calls, step, yeses, hope, process, remind, perseverance, hustle
SPEAKERS
Sean Thomson, Abigail Thomson
Abigail Thomson 00:01
Welcome to the Next Level American Dream podcast brought to you by Thomson Multifamily Group. Your hosts, Abigail and Sean will discuss how you can take your American dream to the next level through real estate investing, business practices, and personal development. Join us as we share our experiences as a father daughter duo who are trying to accomplish their goal of financial freedom. We hope you learn more about how to define and achieve your American dream. Here's another episode of Next Level American Dream. This month we are doing something special. First, please subscribe if you have not already. We also love getting your feedback through likes, comments, ratings and reviews. Over the next month we will be discussing Sean's success formula. Each week, we'll break down one of the five phases of this formula, dream it, believe it, learn it, plan it and do it. We are very excited to share this insightful information and hope to help you integrate this success formula into your life and business. If you found any value from today's episode, then please share it with a friend and help us grow. For more information on our sponsor, visit thomsonmultifamilygroup.com, to start taking your American dream to the next level through passive investing. Welcome back to the success formula series. Today we're going to be talking about the duet phase. And so far, we have gone over the other four phases within this formula, which are dream it, believe it, learn it, plan it. And now we are on do it. If you haven't seen the first or listen to the first four phases, I highly recommend and encourage you to do so. They're packed full, with amazing resources and incredible advice from my dad here. And I really recommend you listening to those four, to get a better understanding of our last phase. So to begin, hi, Dad, how are you?
Sean Thomson 01:58
Good. How are you doing?
Abigail Thomson 01:59
I'm doing good. I'm super excited about this phase, this is where our dreams finally start actually happening. And we are turning things into reality. Why is this step? The last step?
Sean Thomson 02:15
Well, I mean, it's, it's sort of woven into all of them, honestly, it's but it's the final thing you got to do to be successful, right. So they all build on each other as as you're kind of going through the system or the way I think of it. So you have to have a dream and, and you have to believe that dream is possible. And then you have to learn how to make the dream possible. And then you have to plan making the dream possible. But then now you have to go and act on those things, right. And if you don't take action and do things, doesn't matter how much learning or planning you did, and how much you believe in it, it's never going to happen, right? So action has to happen in order for you to achieve your dream and your goals. Right. So and it's really you're, you're you're doing things the whole time, right? So dreaming is really the one phase I guess that doesn't take any real action. But in order to build that belief in yourself, you have to go and you know, kind of build that belief in yourself. So you're taking actions on you know, sorting out your fears and getting getting that confidence that you need. And in learning you had to go seek out sources to learn things and, and in planning, you have to go that's a lot of action and planning, you got to map out processes and systems and things. So there's actions throughout this whole five phase system, but the really the I keep it at the last because it's to remind you that hey, now I have everything I need to be successful. Now I've got to get out and really hustle and get and get to work right? Yeah, that's why
Abigail Thomson 03:35
All right, awesome. Yeah, we gotta we gotta go hustle. That's the that's the final piece of is to make your dreams reality, you got to actually do them. Right. Right, what are some hurdles, or some struggles that might come about within this phase? That would take them back to possibly another level of the success formula? In other words, is this formula more of a cycle rather than a step by step progression?
Sean Thomson 04:03
Yeah. So you're always kind of, you're always kind of bouncing in and out, I think of each phase, right? I have a sort of segmented out in terms of how I look at them. But in reality, once you're applying these things, you're kind of you're kind of diving into all of them constantly. So you're always working on your confidence and building that believe it, you're always going to be kind of learning things all the time. You're always going to be refining your plan and adjusting your plan and working towards your goal. You know, and all that takes action. So it's it's all kind of interwoven, right? But the thing to remember is that if you if you don't take action, you're not gonna get any of those things accomplished. You're not gonna get any of those the dream achieved at all because you've got to go and take the actions and I think a lot of people it's easy to kind of get caught up in well, I've, I have this dream and I just kind of wish it to happen, right? But you have to get out there and hustle to make it and take the steps that you've planned. Now to make it happen, if you're not willing to make the phone calls, it doesn't matter. If your plan is to make 10 phone calls every day to someone, and, you know, earn that business, and you don't do those things, you're never going to stay on plan, right? So your plan is always going to be some some level of action that you have to take in order to achieve the dream. And if you're not, if you're not willing to do the actions, it doesn't matter how great you went through the dreams, the beliefs, the learning, the planning, it just is never going to be there for you. So the action is really, ultimately, the last, I guess, the last effort that you had to make to get to the dream, right?
Abigail Thomson 05:40
Right. So I'm gonna pose a scenario for you, I'm gonna use your example. But say you have done all of that. And then you go to do your first phone calls, and it doesn't go well, or you get stuck. And you're just like, I don't want to do this, or whatever it is, what what do you think your best advice would be in that scenario,
Sean Thomson 06:03
your results are always going to be more often failure and negative than than success, right. And what you have to remind yourself is, every time you get to know or every time you feel like you have a failure, that is just one step closer to the wind that you need, right? You're, you're always going to miss more shots than you make. But you've got to take all the shots, right? If you look at if you look at great baseball players, they only hit 300. You know, they're not hitting 1000 You don't need to hit 1000 in your life in order to succeed and be great, right? You know, a great a great baseball player hits 300, a great basketball player only hits, you know, a certain amount of shots, they miss, you know, two to three times the shots maybe that they take, you know, so it's it's you have to look at life in that way, too. It's it's so easy to get, you know, a beat yourself up about the actions that you're taking and the failures that you're seeing, because they outweigh the wins most often. Right? And what you have to remind yourself is that that's just how the process works. I I'm going to hear more nose than I am yeses, but I'm not going to hear any yeses. If I don't get the nose. Right. I have to keep I have to keep making those phone calls. You know, it may take 100 phone calls before you get that one. Yes. But you just need that one. Yes, that one win is what really what you're looking for, right? And if you if it takes 100 phone calls, then it takes 100 phone calls, you just have to do what it takes to get that Yes. Right. People get frustrated. And they get down on their process. They get down on their system, and they start to doubt what they're trying to do. And so the whole, the whole treatment, believe it, learn it planning starts to break down, right? Because you're taking these actions and you're not getting you're not you're not just suddenly winning everything right? Going through this whole process of this fantastic idea of this fantastic goal. You really believe in what you're trying to do. You've learned as much as you can you've plan as much as you can. And now you're out there and you're just getting your teeth kicked in every day. Because you're not you're not getting the results that you want. Right. Yeah. And, and perseverance starts to have to kick in. And you have to continue to do it. And take those actions, and just be prepared that you're going to fail a lot, right. It's just part of it. It's just part of the process. Just like I use fear as my guideposts now to know that I'm heading in the right direction. I use failure in my actions, I use failure to know that I'm on the right track. If I've failed 20 times, that means my win is right around the corner. Yeah. So I don't let those failures. I try not to I mean, I struggle with it. Everybody struggles with this, but I try not to let those failures stop me. Right, you want to just keep pushing through that. And you you you have to realize that I'm getting closer and closer and closer to the wind that I need. If I'm getting nose and Nose Nose and failures and failure failures, right so you just keep pushing.
Abigail Thomson 09:08
Yeah, and honestly a lot of that reminds me of us getting our first deals we went through hundreds of underwriting things, dozens of property tours we like we went through a ton of possible opportunities before we found the one that actually came to fruition just like again that perseverance just doing it every day showing up and continuing that consistency can really turn into something
Sean Thomson 09:35
well that's the only way to do it. You can't that's that's how the that's how the process works. It will in my opinion, right i Some people may just win everything I don't know but in my life in my life. I am I lose almost all the time. But I keep going because I'm going to win at some point right so I can use the deal example is like you just use the deal. For example, we, you know, we underwrite hundreds of deals, we look at dozens of properties. And I'm in competitive bidding situations all the time. And I come in second, third, fourth, fifth, all the time, all the time, yeah. But if you're not, if you're not putting yourself in that position, you're never going to come in first, right, you're never going to win. So all I need is one win, you know, and that's, that's all I need. And if I keep putting myself in second place, and third place, eventually, if I'm learning and adjusting, and making improvements, and I keep trying, eventually I'm gonna get that win, right? If I don't keep trying, if I don't keep taking action, and keep, keep moving forward on my plan, if I don't keep doing things, and I get frustrated, I'm never gonna get those wins. And so I think the action phase really is just continuing to do the steps that you need to do on your plan that, you know, are gonna get you to the wins that you need, right? So yeah, yeah, it's just a mindset shift, where, you know, if you have a, like a work job or day job, it's, you have failures and things, but it's pretty much just kind of even, it's an even work workload, right? So you just kind of do your work and everything kind of happens. And sometimes you have good results. Sometimes you have Okay, results, you know, and when you're an entrepreneur, it's almost all the time, almost all the time, you're getting beat up. And then every once in a while you win, right? So it's kind of a difference, a mindset shift, you just kind of have to get accustomed to losing. And then and then big wins. That's how it works. Yeah, so
Abigail Thomson 11:35
So what are some of the strategies that you actually deploy, that help you deal with some of those failures and that feeling of losing because it's no, Nobody enjoys losing anything are failing, it's more of a skill that you have to develop? So what are what are some of the things that you've done that have helped you?
Sean Thomson 11:56
Well, it's almost just a realization that losing or failing is not a loss. We call it losing, we call it failing, but it's not a loss. It's just another step. You have to think of it as just another step in the action plan. Right? It's, it's, it's not, it's not, it's not like a game where you where you have two opponents and one wins and one loses. It's not like that. And that's kind of how it is in our mind, of when we first get stuck. When I first got started, I was like, Well, I'm losing all the time. You know what, that's not good. You shouldn't, you're not supposed to lose, you're not supposed to fail, you're supposed to win, right? That's the whole idea is to win. But it's it's not, it's not, it's not quite like that there's no two opponents, it's just you trying to win. And you're not, you're not trying to beat anybody else, you're just trying to just trying to get to your to your successes, right. So you have to get that out of your mind to where the failures and losses are the nose that you that you encounter. It's not it's not really a loss, it's just part of the process. And and you have to know that more of those gets you closer to the wins that you need to be successful. And it's really just a it's just a shift of thinking. And not thinking of those things as negatives. They're not negatives, they're just, it's just actions. You know, you just got to make that phone call, get that no and go the next one, make that phone call, get the know and go the next one, you know, and as long as you're staying on plan, you're and you're working on your your, your process, and you're you're doing everything right, eventually that those yeses are going to come right. So there's, there's so many factors that go into being successful. They're just not always going to line up, but sometimes they will. And that's what you're looking for.
Abigail Thomson 13:39
Wow. Okay, that was awesome. This has been, I think, at least I'm a little biased. So it's okay, but I think this has been an absolutely incredible series. And I've absolutely loved getting to hear more in depth on our success formula from my dad. And I've absolutely hope that everybody has gotten something out of this and has some resources and some actionable steps and things to do that can now create your dreams into reality. This was the duet phase of our formula. And this is our final phase of the series and the formula itself. And we hope that you enjoyed this as much as we enjoyed creating it. So see you on our next interview. I hope this helps you chase your dreams. Thanks for joining us for another episode of Next Level American Dream. If you would like to learn more about what we talked about today. Want to contact the team directly or interested in passively investing and being a part of our deal room. Head over to our website at www.thomsonmultifamilygroup.com Before you go please leave a review your comments help us create more episodes for you to enjoy.