Coaching principles like setting clear goals and staying true to your values can really boost your success in real estate investing
I recently returned from Lisbon, Portugal, where I had the opportunity to coach a university basketball team during their preseason training camp. As someone who’s been involved in coaching basketball for almost 20 years and working as a business coach for over eight, I can’t help but notice how closely coaching sports aligns with coaching businesses.
So, where does real estate fit into all this? Well, over the past few years, I’ve worked with clients as a commercial realtor, guiding them through buying and selling properties and businesses. My goal is always to help them make the smartest, most profitable decisions. And the more I think about it, the more I see parallels between successful sports teams and successful investors.
Here’s how adopting winning team principles can help you become a better real estate investor:
Set clear goals and expectations
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Winning teams always start a season with clear goals and expectations, not just for the team but for each player. It is no different in real estate. As a coach and realtor, I need to know what my clients aim to achieve. Unfortunately, many people – whether in sports or investing – don’t have a clear idea of their short-term or long-term goals. Written goals provide direction and help track progress. Without clear targets, success becomes much harder to achieve.
Play to win
There’s a big difference between simply playing and playing to win. On the basketball court, playing to win means giving your all, regardless of the score. It isn’t about winning at all costs; it’s about doing everything in your power, ethically, to reach your goals. In real estate, playing to win means developing a solid strategy and executing it effectively to achieve your financial goals.
Stick to your core values
When I work with businesses, I always start by defining core values because they’re the foundation of success. As a realtor, my core values are being proactive, creative, trustworthy, hardworking, fun, and generous. I like working with clients who share those values because alignment makes everything smoother. The same applies to real estate investing – if your investments don’t reflect your core values, you will likely face stress and dysfunction. Know your values and invest accordingly.
Defence matters as much as offence
When I started investing, I thought success was all about offence – making deals and pushing forward. But over time, I’ve learned that playing defence is just as important. You can score 80 points in a game, but if your opponent scores 81, you lose. The same goes for investing: it’s not just about making money; it’s also about protecting what you have. Understanding your financial statements and managing expenses is crucial. Only invest your time, money, and energy into opportunities that align with your goals, values, and long-term profitability.
Balance and mental health are key
I didn’t feel qualified when I first agreed to coach the university team. But the head coach, Sergey, insisted, and I accepted on the condition that I could help players reduce stress and anxiety. I’ve seen how stress affects athletes, business clients, and investors. As I approach my seventh decade, balance and mental health are more important to me than money. Finding balance in our lives, work, and investments is critical to enjoying success. There will always be times when we need to work harder or push ourselves, but balancing those efforts ensures we can enjoy the fruits of our labour.
It takes a team
Great players know they can’t win a game alone; the same goes for investors. Whether investing in stocks, bonds, or real estate, I rely on my team – accountants, lawyers, fellow realtors, and trusted friends. You need a team, too. Surrounding yourself with advisors, partners, and supporters makes the journey smoother. After all, “If you want to go fast, go alone; if you want to go far, go together.”
Real estate investing has a lot in common with basketball coaching. You’ll improve your chances of success by setting clear goals, playing to win, staying true to your values, protecting your assets, maintaining balance, and building a strong team. These strategies will not only help you reach your financial goals but ensure your investments align with your values for long-term profitability.
David Fuller is a Commercial and Business Realtor with a strong reputation as an award-winning business coach and author. He has extensive experience helping businesses grow and succeed, providing guidance on various aspects of business management, strategy, and development. His work as a business coach and author has earned him recognition in the industry, making him a respected figure in both real estate and business coaching.
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