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Real Estate Rookie

68: Rookie Reply: Stop Making Excuses in Business & How to Develop a “Scout Mindset”

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.81.7K Ratings

🗓️ 10 April 2021

⏱️ 34 minutes

🧾️ Download transcript

Summary

It’s not uncommon that we make excuses for ourselves, especially when it comes to our businesses. A contractor may have let us down, or a tenant took advantage of a poorly-written lease, or our partner isn’t doing a job as well as we’d like. Are these problems fully forming because of the other person, or ourselves? Today we talk to Julia Galef, author of The Scout Mindset and host of the “Rationally Speaking” podcast. Julia is trying to answer a big question: how do we improve our reasoning and our decision making? For her, there is a big difference in mindset. Sometimes we have a scout mindset, which allows us to be more exploratory and see what really is going on. Then we also have a soldier mindset, which is when we’re seeing only our pre-existing beliefs. How do you know if you’re using your scout or soldier mindset? Ask yourself if you’re rationalizing your situation or just making excuses. This can be hard as business owners and investors because we often are the first to blame someone else for our problems. We even downplay our shortcomings, like when a novice flipper thinks he or she can do the electrical, plumbing, foundation, and flooring work without any prior experience. It’s important for us as people and investors to get honest feedback not only from our clients, tenants, contractors, and partners, but also from ourselves. In This Episode We Cover The difference between a scout mindset and a soldier mindset How to get out of fooling yourself into believing something that isn't true Jeff Bezos’s “30% Success” story Implementing feedback in a way that is beneficial for you and those around you Leaning into confusion and finding the underlying causes Being a better real estate investor And So Much More! Links from the Show Jeff Bezos Amazon Tony Robbins Check the full show notes here: https://www.biggerpockets.com/rookie68 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is Real Estate Rookie Show, number 68.

0:04.0

My name is Ashley Care, and I am here with my co-host, Tony Robinson.

0:12.6

Hey, Tony, how are you today?

0:14.6

I am doing well, Ash.

0:16.4

We had a really cool kind of switch up for today's episode, so I'm excited to get into this for the listeners.

0:22.2

Yeah, so this is Saturday, happy Saturday, everyone, and this is the rookie reply.

0:28.8

And usually it's just me and Tony, you know, babbling away about something real estate.

0:34.2

Shooting the breweries.

0:35.2

But today we are bringing on an author and guest, Julia Gailoff, and she is going to talk about mindset.

0:43.8

Yeah, so she's got a book called The Scout Mindset, and it's really, it's a really cool concept,

0:49.6

but it's basically about how some people do themselves a disservice by being so committed to their ideas

0:58.0

that they pass up on potentially good advice and insights from other people.

1:02.0

And how you can kind of shift your mindset to be more of a scout with your ideas

1:08.0

to just kind of make better decisions in life.

1:11.0

Yeah, I think you guys will find that very interesting, and she doesn't have a real estate background at all.

1:16.0

So that's why we kind of worked with her to kind of tailor these as to, you know, how can the Scout Mindset help real estate investors?

1:23.0

So make sure you guys take a listen and then let us know, let us know on Facebook in the real estate rookie Facebook group.

1:29.0

What you guys think about these kinds of episodes and maybe we can kind of incorporate more of them on Saturdays.

1:35.0

So before we get to the episode, let's hear a word from our show sponsor.

1:41.0

Our current interest rates making you depressed about cash flow.

1:44.0

What if it didn't have to be that way?

1:46.0

Rinse to retirement has 2.99% seller financing available on turnkey properties.

...

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