Posted by Once someone knows what they want out of life, they suddenly find themselves in a hurry to get there.
But just because you know where you’re going, it doesn’t necessarily mean you should put your foot on the accelerator. Sometimes, slowing down is exactly the right thing to do… and could actually get you to your destination faster.
That’s why this week I want to take a look at why, just sometimes, slowing down is the perfect way to speed up.
Hidden opportunities
Opportunity is everywhere – you never know when you’re going to find a brilliant deal. But what you should remember is that you won’t find anything if you’re charging ahead looking 5, 10 or 15 years down the line.
You have to be continually on the lookout for opportunities, and many agents and entrepreneurs miss out on great deals because they’re too focused on reaching a specific market condition or goal. Don’t forget, even if the market looks terrible, you could have the best opportunity of your life drop in your lap at any time, as long as you’ve got your eyes open.
So before you dismiss something because ‘it’s not what you’re looking for right now,’ pause and ask: is this a bad opportunity, or just a different one? Some of the best deals are the ones that didn’t match the criteria you set six months ago.
You don’t know what you don’t know
If you’re a novice investor, or (without wanting to be ageist) quite young, then it’s vital to remember that you don’t know what you don’t know!
You might have set a great goal to work towards, but, in line with my previous point, you could be missing out on some great opportunities because you don’t know how to look out for them.
As well as that, you might find that if you don’t 100% know what you’re doing, but you’re speeding ahead anyway, you could be skipping over some really important parts of your process.
Slow down and work through each step of your plan methodically. Better yet, find yourself a mentor, or invest in some training, and learn from the people who’ve made all their mistakes already, so you don’t have to!
Building while you wait
Slowing down doesn’t mean doing nothing. In fact, some of the most productive times in your journey happen when you’re not actively chasing deals or rushing toward the next milestone.
Think of it as strategic preparation. While the market is doing its thing, or while you’re waiting for the right opportunity to present itself, you can be building the foundation that will allow you to move fast when the time is right.
This is when you make that investment in your education – read that book you’ve been meaning to get to, take a course, or finally learn that skill you’ve always been meaning to. You can strengthen your systems and processes so that when opportunities do arise, you’re not scrambling to keep up.
The irony is that people who “wait” strategically often move faster than those who are constantly in motion, because when their moment comes, they’re genuinely ready for it.
Don’t let cognitive bias trip you up
Scarcity mindset (also known as FOMO) can make you think you’re missing out, and can make you rush into deals that, if you were looking at them rationally, you wouldn’t touch with a barge pole.
A scarcity mindset puts you at a distinct disadvantage in terms of how clearly you’re thinking. Don’t forget that the market moves in cycles. What’s happened before, will happen again (both in good and bad ways), so if you’re able to get over the FOMO, do some research about what’s happened to the market historically, you might find that in the long run you’ve ended up with a better outcome.
That said, don’t get paralysis by analysis! It’s just as bad to overanalyse every deal and miss opportunities because you haven’t moved fast enough. The key is to find the sweet spot midway between both.
Do you already know all the people you need to know?
When you’re going full steam ahead trying to get things done, it’s easy to create work for yourself, just for the sake of it, but guess what? You probably already know all the right people.
You need people who can do X, Y and Z? It might feel like you’re being more efficient by finding them yourself, but rather than putting your trust in what Google has to offer, wouldn’t it be better to tap into your network and see if any of your contacts already have exactly the right person in their little black book?
That way, you’ve also got the added bonus of a kind of quality assurance – you’ve got a personal recommendation rather than taking a risk on an unknown quantity who could turn out to be a cowboy.
Outside of real estate, when it comes down to finding customers, it’s a lot easier to work with an existing client than it is to try and find a new one. If someone already knows, likes and trusts you, it’s a lot easier to get business from them, than it is to spend time and money trying to get a stranger to trust you.
So, if you don’t have a great network, slowing down and really concentrating on building good relationships is by far one of the best things you can do, rather than just cannoning off and risking upsetting people.
Stop, look and listen
A lot of the time (especially when it comes to negotiation), the person that you’re dealing with primarily wants to know that their needs and motivations have been understood. When they don’t feel heard, it creates tension, and that tension triggers a fight or flight response that can send everyone into overdrive.
Suddenly you’re both operating at 100 mph – talking past each other, defending positions, or trying to force an outcome. But if you slow down and really listen, you can make sure you fully understand every part of what the other party is saying. What’s driving them? What do they actually need from this deal? What are they worried about?
When people feel genuinely heard and understood, there’s a shift in their behaviour: defensiveness drops away and they become more collaborative, more willing to find creative solutions, and often more flexible than you’d expect.
So, just pausing things, slowing it down and working with someone rather than trying to bulldoze them into doing what you want them to do, not only speeds up processes, but takes out a lot of friction as well. You’ll find deals close faster, relationships stay intact (or even strengthen), and you build a reputation as someone who’s easy to work with – which means more opportunities come your way in the future.
Understand your own motivation
Slowing down gives you the time to reflect on your own motivations and definition of success. Don’t forget that our priorities often change as we grow older. What motivated you at 25 might not be the same as what drives you at 40 or 50.
Rather than determinedly soldiering on until you achieve whatever your end-goal is, take time every now and then to check in with yourself and see if you need a course correction.
What’s important to you right now, might not be important forever, and sometimes it’s only when you pause that you get that clarity.
At the end of the day, slowing down lets you pay attention to the things going on around you: you might find an opportunity hiding away that you would have missed if you’d been so laser-focused on your end goal that you’d been blinkered to everything else. The paradox is that by giving yourself permission to pause, you often end up moving faster and more effectively than if you’d just kept charging ahead. So, next time you’re worried that you’re not moving fast enough, ask yourself: what’s the hurry?