It happens every single time I meet a new class at the Nick Vertucci Real Estate Academy (NVREA). Inevitably, I’m sitting in a room or even, raising a glass to toast their graduation from the Academy when the “e-word” gets dropped.
That word? Entrepreneur. And inevitably, someone gets a little fidgety at being called an “entrepreneur.”
If you know me you know I’m all about mindset. The Real Estate Investor Mindset is, in my opinion, the most important ingredient to a successful career in real estate investing. But, in this business, you aren’t just a real estate investor. You’re also an entrepreneur.
Enter The Entrepreneur Mindset.
No sooner does the word “entrepreneur” come out of my mouth then I see someone feeling a little uncomfortable. Someone doesn’t think they’re an entrepreneur and feels a little iffy about having such a big, sometimes loaded word being tossed around to describe them. And it always leaves me scratching my head.
You ARE an Entrepreneur — And That’s a GREAT Thing!
Whether you’re launching a full-on real estate investing career or just looking to build a rock solid portfolio, you are an entrepreneur. Why? Because you’re starting something new — something that’s all yours. You’re building something from nothing and you’re doing it on your terms. You are — I’ll say it again — an entrepreneur.
In my experience, the stumbling block for new real estate investors seems to be what a big title this represents. An entrepreneur is someone who’s a self-starter. Someone who’s smart, strategic, efficient and head-down. Someone who gets the job DONE. Someone who starts their own business. Many people, I’ve found, are scared to own a title like that, because it feels so big. Being a real estate investor feels more tangible — you invest in real estate and that makes you a real estate investor. It also, somehow, feels less permanent. Owning the title of “entrepreneur” feels less defined but, at the same time, like a lifelong choice. You are or you aren’t an entrepreneur.
In the simple act of starting something new you are an entrepreneur. You’re building something and reaping the benefits — that’s all there is to it. And besides that, I’m confident you ARE all of those things — smart, strategic and self-motivated. Or, at the very least, you will be once you fully embrace your newfound Real Estate Investor Mindset.
If you’ve attended the Academy or any NVREA program — if you’ve read my blog, even — you know how important having a Real Estate Investor Mindset is to me and my approach. The Entrepreneur Mindset picks up where the Real Estate Investor Mindset leaves off, layering in another level of focus, determination and grit. Together, this dynamic duo — these two powerhouse mindsets — will catapult your business to the next level.
What the Entrepreneur Mindset Means
So what’s an Entrepreneur Mindset all about, and how does it compare to a Real Estate Investor Mindset? One of the biggest similarities is that you’re constantly learning as an entrepreneur and a real estate investor. There’s no cast-in-stone rule book for this kind of thing. Even though I can help teach and coach you, it doesn’t make you immune to the learning-and-growing process. As a real estate investor or entrepreneur, the bulk of your development will come from you — from your own personal experiences in the trenches, working with clients and lenders, making decisions and watching your work sink or swim.
Entrepreneurs — like real estate investors — can pick themselves up, dust themselves off and get back to business. Better still, they can learn something from the experience, even if it wasn’t the best experience. They can take their shortcomings and funnel them into something positive — something that makes them better. And because they know “failure” is just a learning experience, entrepreneurs don’t fear it. They take smart, calculated risks that enable them to build their businesses and get a serious edge over the competition. Entrepreneurs excel because of failure.
And they don’t just learn from failure. Entrepreneurs and real estate investors learn from everything. They never stop learning. I’ve been in this business for a decade and, now, I teach and coach countless students and new investors year after year. But I’m still a student myself — I still have mentors, coaches and other people and experiences that help me learn and grow. I read everything I can get my hands on and I make a conscious effort to stay ahead of industry trends. Because I’m an entrepreneur and a real estate investor — that’s my job.
Entrepreneurs are also, like I said earlier, very self-motivated and very goal oriented. In this industry, you really have to be, so there’s endless overlap here. Without the confines of a traditional office or business structure, you’ve got no one to keep you on track except yourself. Even as your business grows this will be the case — in fact, others will be looking to you to provide that structure and stability.
Similar to having a Real Estate Investor Mindset, as an entrepreneur you need to set goals and really be able to experience them…before they happen. You need to see your goals so clearly that when you close your eyes and really focus, there they are. You could almost reach out and touch them — they’re that real. It requires some discipline and some laser-focus, but you’ll get there. And when you do, finding your motivation and mapping the steps to success will be infinitely easier.
So You’re An Entrepreneur: NOW WHAT?
The first step? Embrace it. Embrace being a real estate investor/entrepreneur. If you aren’t owning the “entrepreneur” title, own it. Shake off the scary connotations that come with being an entrepreneur — because you are, and that’s a great thing.
One of the best ways I’ve found to get comfortable in your newfound entrepreneur skin is to start networking. My network of fellow entrepreneurs and real estate investors has been critical to my success, and I know getting in the mix like that will help you, too. By surrounding yourself with people who are immersed in business, real estate and entrepreneurship, you’ll learn to walk the walk, talk the talk and embrace the lifestyle that’s now surrounding you. You’ll learn how to be the best, most entrepreneurial version of yourself by being around people who do it every day.
Don’t know where to start networking? Check out when the Academy is enrolling next, or stop by an NVREA event in your area. No matter which you choose you’ll meet tons of real estate investors and entrepreneurs, from experts to beginners. So come, learn and network, then use that experience as a jumping off point into all that comes next. And, trust me, it’s all amazing.