Barry Ritholtz, serial entrepreneur, author, and podcast host, offers hard-won insights and tips for creating a process for accomplishment.
Insights and Tips to Create Process of Accomplishment
Barry Ritholt has and continues to have a multi-faceted working life built around the process of accomplishment.
Ritholtz, along with being a Bloomberg Opinion columnist, founded Ritholtz Wealth Management, was the chief executive and director of equity research with FusionIQ, author of Bailout Nation and is the host of the podcast Masters in Business.
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Ritholtz asks highly talented, accomplished people this question on his weekly podcast: “What do you know today about your chosen field that you wish you knew when you were first starting out?”
Here are some of his guests’ and his own responses…and by the way, these insights and tips are for anyone at any age and at any stage in their careers. Perhaps one or two of Ritholtz’s wisdom will help you accomplish your goals and dreams.
- Build Your Skillstack – Even though you’ve completed your “formal” education, keep learning. Ritholtz writes, “Continuing to learn new concepts and ideas that can help you succeed in professional situations is too important to be left to chance.”
- Adding by Subtracting – Learning and consuming everything about everything doesn’t cut it. Ritholtz advises people to focus on excellence. Translation – eliminate all but the best content, assignments/jobs you tackle, and clients.
- Assemble a Portfolio of People – This goes well beyond simple networking. Develop a small group of talented people…hire them, work for them, invest in their ideas and projects…spend more time and effort nurturing these relationships.
- Acknowledge one person whose judgment and unfiltered feedback you trust. That counselor/coach is incredibly valuable. This person is worth her/his weight and gold.
- Failure is Growth – Without failure, there is no growth. If you’re not failing, you’re not trying anything new or risky or out of your comfort zone. Stasis in not growth.
- Know the Metrics of Success in Your Field – Every profession defines success by a series of data points. As a doctor, surgical outcomes are metrics of success. As a real estate practitioner, closed transactions and sales volumes are metrics of success. Know and understand your metrics.
- Learn to Time Travel – Learn to time travel into the future and then return to the present. Conceptualize what the future looks like AND recognize the dynamism of that future. Nothing is static, everything constantly changes. Adapt and move forward.
- Collaborate – Collaborating is dividing duties according to skillsets. Focus on what you do best. Collaborative results mean better productivity and higher quality work.
- We are Our Habits – Turn tasks into routines that eventually become habits. Regardless of what the task is (say it’s lead generation), the sooner you turn the task of lead generation into the routine (same time of day every day, same amount of time every day, same mixture of tech very day, etc.) of lead generation, the sooner you will develop the habit /practice/tradition of lead generation into your ongoing professional life.
Ritholtz wishes he knew these things earlier in his career. However, he says, “Better late than never.” For those of you beginning and/or continuing your career in real estate, “there’s no time like the present” to begin your process of accomplishment.
Thanks to Barry Ritholtz and Bloomberg.