WHAT AGENTS CAN LEARN FROM PLAYING MONOPOLY
Category Agent Motivation
The recent and current covid situation has brought out many old board games hidden in the back of the cupboard.
You can learn a lot about people from their approach and strategy when playing board games. Are they competitive or just focused on having fun? Are they casual with the rules, or do they sit with the rule book on their lap? Are they looking for a win-win, or do they want to come out on top no matter what?
There is al lot to be learned about a players character and life in general in playing the game of Monopoly.
Planning - always plan for the unexpected
The rule of pay yourself first never becomes more relevant than when running your own business. You will not only need funds for the expected but also the unexpected and emergencies or unexpected opportunities that might come your way.
Debt could be the enemy
It is tempting to keep on growing and buying - investing in marketing and systems ext. and not keeping a close eye on your cash resources.
Cancelled deals or a bad month could place your real estate business under great pressure.
Understanding risk and return on investment will be crucial.
Follow the formula - and understand how to scale up
Finding the right way to increase the value and return on your investment while managing risk and exercising patience and self control could make all the difference. It is not always necessary to try and re-invent the wheel. There are tried and tested models available to first master before moving up to the next level.
Keeping your game face
When you let your fellow players get to you during a time of facing a loosing streak or during mistakes made while operating and growing your business they will most certainly use this against you. Focus and celebrate the small successes in business and life.
Opportunity only comes knocking once
You might think that you have the perfect plan only to later find it flawed. You will need to be flexible and able to regroup and come up with a new plan of action.
Look around for opportunities, they might be right there staring you in the face and remember fortune favours the brave. Do not fear change rather embrace it and ensure you are at the front of it.
Having multiple strategies at play
Always have a back up plan and ensure you are not just focussing on one segment of the market or operating too area restricted.
Look at different new marketing strategies and combine with the old tried and tested bread and butter methods of the past.
Get out of jail free card
If only it was that easy! The easiest thing is to give up when times get tough.
Invest in yourself and your business, invest in learning and education. Always keep looking for new ways to grow and be willing to make adjustments when needed.
Keep moving forward and keep learning from your mistakes. Keep yourself accountable and take an honest look at what you are really doing and the effort you are putting in.
Find the new way to win!
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Author: Jaco Smit
