The first step is to have a dream about what it is that you want to create and achieve. "Dream!" Let it become wild. Really see it. Touch it. Taste it. Be able to really envision what it is that you want to happen. If you don’t have a dream then you don’t have passion. If you don’t have passion then you are not going to be able to do anything. Why is it that you are even interested in real estate?

Number two in the steps to a successful business is to have vision. You have to be able to take that dream and turn it into reality! What is it that you see for your business coming up? Not just in 2008 but for the years to come. What is it that you are looking to build?

The third step is that you have to have strength of that conviction. Many people have dreams and they have visions but they don’t have strength of their convictions so they can’t make it happen and they let the naysayers bring them down. They let a little obstacle stop them from going forward. Here is an example, have you ever had that really great idea and then somebody else puts it out there on the market. You see it out there on the market and you say "Wait a minute that was my idea!" You had an idea but you didn’t have the strength of conviction to make it happen. Somebody else had that same great idea and got it all the way to the market and now they are making a fortune off of it. You have to have the strength see your vision all the way through. No matter what there are going to be people telling you that it can’t be done. In fact, the better the idea, the more out of the box the idea, the more resistance it is going to be met with. Other people are used to operating within their comfort zone. Great ideas are something that is outside the comfort zone. You are even going to meet with resistance in your own mind. You have to have the strength of conviction to know that this is the right thing to do.

The fourth step is to have foresight. Be able to drive your business in the right direction based on what’s happening in the environment. An example would be with the foreclosures and what I see happening over the next year. Why’d I give you that? To start giving you some foresight into your business and start getting you prepared for what you have to do with your business. What should you be doing right now? You should be really entrenching yourself out there to find as many deals as you can.

If you are in a position to hold onto some of those deals as rentals and lease options, that’s great because you know that going into 2009 they are really going to start to appreciate. You can pick up a lot of deals right now. You can wholesale those deals and make a ton of money because you are going to be able to buy property well under market value. I guarantee that in another couple of years everybody is going to be talking about it. You have to continually change your direction based on what is happening in the marketplace. Right now it is a true buyer’s market. Well then become a buyer and look for really great deals. Don’t let excuses put you down, but do have that foresight to see what is happening in the environment and how you can take advantage of it.

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