Jim Toner has been an entrepreneur and real estate investor for 25 years. Toner recently recounted his experiences in an Ideamensch Interview. What is notable about the character of entrepreneurs and real estate investors in general is their resilience. Toner has experienced more than his fair share of upsets, going from broke to wealthy in a short space of time. What sets such individuals apart from the rest seems to be a relentless desire to persevere at all costs in spite of the inevitable setbacks.
Toner reiterates that is was not the real estate market itself that caused the market crash in 2008, but the decisions of individual actors. Greed and corruption took over, but as it stands today there has never been a better time to invest in the market. After creating his own empire, Jim Toner wishes to share with others how to become successful. Here are some tips according to the entrepreneur.
1 – The Attitude
One of the most important attributes for anybody looking to become wealthy is a healthy attitude. The reason attitude is so important is because it does not matter how much skill, connections or knowledge an investor has if is not accompanied with a healthy attitude of growth and positivity. While some people see obstacles, others will see potential rewards. It all depends on the attitude.
2 – The Team
While having a positive attitude is number one, who you surround yourself with is also of the utmost importance. This is a concept put forward by all successful entrepreneurs. No matter how intelligent or resourceful an individual is, a team of competent players is a requirement. There is no possible way a single person can make all of the decisions, and leaders need to delegate to a loyal and dependable team of specialists.
3 – Work on Yourself
Jim Toner highlights the importance of cultivating a healthy mind and body. To become a success, he needed to do work on himself mentally, emotionally, spiritually and physically. He encourages everybody to do the same. He also indicates the importance of laughter on physiological wellbeing. Toner says that reading has been instrumental on his journey to success and believes that reading about wealthy and successful people is a pre-requisite to riches.
4 – Work for Yourself
For Toner, independence is important. So people who are working for somebody else should seek to strike out on their own as soon as they are able. This is because it is nearly impossible to get rich working for somebody else, as you are still an employee, even if highly paid. Working for anybody else means that you give up on financial control. He also cites the fact that the current economy is very amenable to entrepreneurs right now and that becoming independent is incredibly rewarding. Toner puts forward the idea that the ability to take risks is a muscle that must be exercised. The sooner and more frequently this muscle is exercised, the better.
5 – Be Hard on Yourself
It is important to be very honest with what is happening in your financial and personal world. Regardless of how tough it is, analyze the situation and put your best foot forward. No matter how difficult the situation appears to be, do not quit and persevere at all costs. This type of challenge happens to every entrepreneur and how you respond to it can be a huge indicator of success. It is also imperative to take action right now and stopping waiting for the stars to align. Act now and put your heart and soul into whatever it is you are doing. Hold yourself accountable for what you do and achieve, and strive to get where you want to be.
6 – Become a Time Management Master
Time management is of utmost importance to an entrepreneur. This is because there are going to be many conflicting appointments, meetings, deadlines and projects to attend to. Prioritize which one comes first and also make sure to plan the day ahead of time. Get up early in the morning, go to the gym and read positive material. The morning often sets the tone for the day and can help people to get more done.
7 – Set Goals and Believe in Yourself
If you don’t know where you are going, you can never get where you want to be. Goal setting is fundamental, and these goals should be written out and reviewed. When creating the goals, dream big and believe in yourself 100% that you can actually achieve them. Creating, writing and reviewing goals is pointless unless you believe you can achieve them. According to Toner:
“You can learn all the success techniques, go to all the seminars, take the coaching program, and participate in everything else that’s available, but if you do not BELIEVE success is possible you will fail.”
There are no Special Secrets
One of the most important points outlined by Toner is that at the end of the day, there are no hacks or shortcuts to success. Becoming wealthy in real estate or any industry takes grit, determination and resilience. These are the cornerstones of any type of successful business, along with having a set of regularly reviewed goals which you believe you can achieve. He states that there are very few new techniques to be learned, and that the basics are crucial. Jim Toner is the embodiment of a tough, practical and down to earth entrepreneur who has fought a 25 year battle in the real estate sector, and learned a lot along the way.
