According to U.S. News, 80% of people abandon their New Year’s Resolutions by the second week in February. This could be due to a number of reasons – lack of motivation, inefficient goals tracking, or an unprecedented setback.
Setbacks are bound to happen, no matter how prepared we think we are. The good news is, setbacks don’t necessarily have to be a negative thing. There’s always something to be gained when we come across a kink in our plans. Author Oswald Avery put it best when he said, “Whenever you fall, pick something up.”
Find the opportunity in the setback
I recently went through the process of buying my first home in a competitive real estate market. The process was long, stressful, and I faced rejection more times than I can count. Being a recent college graduate, I knew I was at a disadvantage against those who had the means to put down cash offers on homes. However, after the many “falls,” I was able to “pick up” a couple valuable life lessons.
The biggest one for me was patience. I learned if buying one house doesn’t work out, there’s hundreds of other options out there and homes will always be springing up on the market. On the flip side of patience, I also learned the importance of acting fast without hesitation when a good option comes along.
Setbacks help us identify the weaknesses in our approaches.
After months of rejected offers, I knew I had to change my hunting strategy. After analyzing my approach, I realized my weakness was looking in the wrong places. I was naturally drawn to newly remodeled and highly desirable homes. But instead, I had to start looking at project homes that were listed longer, needed some remodeling work, deep cleaning, etc. It took a huge perspective shift, but I knew this was the best choice to help me achieve my financial and investment goals.
Don’t get discouraged!
Whenever we face discouragement, it’s important to remember your “why.” As German author Friedrich Nietzsche famously quoted, “He who has a why to live can bear almost any how.” Sometimes we have to focus on the greater purpose behind our goals to give us that push to work through the setbacks.
For me, the “why” for buying a house was to bring me closer to my goal of financial security. I wanted to have another outlet to help provide for myself and my future family. That “why” pushed me through the difficult times and eventually led me to find a home.
When I walked through my home for the first time, I immediately saw its potential to become something beautiful. The structure was sturdy, and it met every criteria for my intent to use it as an investment property. I put in an offer that same day and was able to get it at a discounted price.
I now look back at all those earlier rejections with extreme gratitude because it led me to the perfect home. I also picked up some valuable lessons that will benefit me for the rest of my life. Whenever a setback pits itself between you and your goals, remember the process of overcoming them has the potential to be just as (or more) rewarding than the end result. It all depends on how we utilize them to push ourselves forward, and what we decide to pick up along the way.
Today’s Monday Mo was presented to you by Meg Matsuura, Content Specialist at Spot On Solutions.