Got Fear?? - Posted by Chuck-NY

Posted by Tom (IL) on January 24, 2002 at 12:51:56:

Thanks for the good words Scott. I need to get on the horse and get going. I think some of the things on my list need to be addressed, but as long as I’m just sitting here, the list can only grow. :slight_smile:

Got Fear?? - Posted by Chuck-NY

Posted by Chuck-NY on January 24, 2002 at 09:25:59:

I’ve wanted to post this for a long time.
Lonnie correct me if I’m wrong but I think one of the most
frustrating & irritating things that Lonnie has to deal with is seeing people who are afraid to work this business
(or are too lazy). People who he has tried to encourage
to get out there and put to practice what they have
mentally learned.

I would like feedback on this topic of fear. I think it
needs to be specifically addressed.

Why do we fear and what is the solution to overcoming
the fear that prevents us from doing what we want to do??

I’m no expert and I can only tell you what happened to
me…I had fear…but looking back now it seems like my
desire to succeed overpowered that fear…kinda hard
to explain…

Like I said I would like imput from ya’ll…

F.D.R. said we have nothing to fear but fear itself…
I don’t think we should even fear fear…

Great topic, Chuck! - Posted by Jerry Freeman

Posted by Jerry Freeman on January 24, 2002 at 12:33:14:

I think different personalities have different levels and kinds of fear, probably based on what we’ve been through in the past and the messages we’ve absorbed from our families and other early influences.

Most of us have some kind of inner dialog running about just about everything we do. Some of those inner scripts tend towards confidence and success, and some of them are self-defeating.

I think the real key to accomplishing our goals is to try to sort through those thoughts and amplify the ones that will lead us where we truly want to go. In the process, we may discover some self-defeating thought patterns that we can bring out into the daylight, acknowledge, and then make a choice to stop letting them run the show.

Ideas like, “I’m not destined for the good life – that’s for others, but I’m not cut out for it (or not worthy).” “This is too hard. I’m not strong enough for this kind of challenge, even if it can lead to success.” “This is too complicated. I’ll never understand it.” “It’s no use talking to (fill in the blank – sellers, PMs, prospective customers, sources of funding, etc.) because I know they’ll turn me down.” Etc. etc.

I don’t believe we can make these kinds of thoughts go away completely and forever, but we can get to a level of self-knowledge and experience where we recognize them when they come up and work past them so that they don’t slow us down.

I remember reading that one of the all-time greatest writers of advertising, David Ogilvy, admitted that every time he sat down to write an ad, he began with the thought, “This time I will fail.” That didn’t stop him from founding one of the largest and most prestigeous advertising firms in the world and gaining universal recognition as one of the most successful and influential advertising people in the history of commerce.

Some of us are blessed with unfailing confidence, but most are not. It’s been said that the presence of at least some fear is a good sign because it indicates that we’re extending ourselves outside our comfort zone, where we have to go to get the things we don’t have now.

Figuring out how to deal systematically with fear (because it WILL come up, for most of us, routinely) is one of the most important skills, and I agree with you, Chuck, this is something worth discussing at some length.

It’s been said that ultimately, all fear is fear of the unknown. I’ve only been in this business a short time myself, but the decisive factor that gave me the confidence to go ahead was getting a response to one of my posts, from Tony-VA, telling me that there’s someone in my area who might be able to give me some pointers about my local market. I exchanged some emails with that person, and found him to be very open and encouraging. I spent an afternoon with him driving around, and within a couple of weeks, bought my first MH, based on the confidence gained from seeing with my own eyes that “it really does work, right here in my area.” That person was you, Chuck, and I will be grateful for that for the rest of my life.

Knowledge does set you free, and one of the techniques I use to deal with fears is keep gathering information until the thing I was afraid of becomes familiar enough that I’m no longer so afraid of it.

I try not to pass up an opportunity to ask questions of anyone who might be able to give information or help. For example, I got acquainted with the woman living next door to a MH I’m rehabbing. She was easy to talk to and not in any position of power that would tend to make me afraid of her. It happens that she used to live in a park that I’m interested in buying. So I asked her about it, and she had lots of information.

Feeling alone is another part of fear. We’re truly blessed to have such a community of helpful people to reach out to here, and reaching out is another important tool for managing fear. I’ve also found many genuinely kind people in my local area who’ve been extremely generous with information and support. I’ve learned that following the golden rule, creating win/win scenarios with PMs and others everywhere I go as Lonnie teaches, people really seem to want me to succeed and have gone out of their way to help me.

And taking “baby steps.” I try to take action as a way of getting past fear. So I look for something, almost anything, that will get me started on whatever task is at hand, and then, once I’m in motion, it gets easier to do the next thing, and the next, and pretty soon, I’ve done something that I was really scared to do at first. Then I go on to the next thing and take the same steps all over again.

Fear of failure is another factor. No matter what happens, if you use every event as a way to learn and gather experience, everything is success, and that fear can be managed.

A young person once approached a famous, successful businessperson he admired and asked if he would be willing to answer a few questions. The gentleman said, “Yes, I’ll answer your questions.” The young person asked, “How did you get to be so successful?” The man said, “By making the right decisions.” The young person asked, “How do you know which decisions are right?” The man said, “Experience.” The young person asked, “How did you get the experience?” The wise gentleman said, “By making the wrong decisions.”

Of course, we have the benefit of being able to use other’s “mistakes” as sources of wisdom, but we can’t help but make a “mistake” now and then, no matter how carefully we prepare – unless we just shut down and never attempt anything. Whether each “mistake” is truly a mistake or just another step in our path to inevitable success depends on how we use the information gained. Developing the habit of using “mistakes” as opportunities to master the business is a big help in overcoming the fear of failure.

Those are a few things that work for me. What about you?

Best wishes,

Re: Got Fear?? - Posted by ScottS(NC)

Posted by ScottS(NC) on January 24, 2002 at 12:17:52:


I also had a “list” but very few thing are neccesitys to do a deal. At first you don’t have a feel for the market or have your dealers licenese or understand every detail of the business. But just like Gerry posted yesterday you have to do that first deal to learn some of these things. Your location has diffrences from what other people on this forum might have in there area. Do a Deal now before the list gets perpetually longer.

My initial fear was of the unknown factor. I worried over something I didn’t know coming back to bite me. This is a business that requires people to desire a diffrent style of life more so than fear of failure. If you are satisfied with your J.O.B. then the reward is not great enough to over power the risks. People who are actively seeking a better lifestyle i.e…more free time,money,security from a J.O.B. are willing and eager to take educated risks to achieve these things. Just my thoughts Take Care ScottS(NC)

Re: Got Fear?? - Posted by Tom (IL)

Posted by Tom (IL) on January 24, 2002 at 10:03:18:

I’m not sure if this is fear, but here is what is holding me back:

  1. I still need to learn my market.
  2. I need to make sure that Lonnie’s contracts legally cut the mustard here in Illinois.
  3. I need to figure out how to work with Titles since Illinois is very difficult with this process. Basically, you submit a title to them and it can take up to 9 or 10 weeks to get a new title.
  4. I need to figure out how to minimize my liability. Do I need to create a corporation before doing my first deal or is this not necessary. Lonnie mentioned in a previous post that signing the title over to the buyer minimizes liability. I’m not sure if I understand. If I buy a used car from a dealership and they sign the title over to me and the car blows up, I’m still going after the dealership. The dealership can in turn go after the manufacturer. I’m not a lawyer, so maybe I have this all wrong. Plus, with the title problem mentioned above, it will be hard to sign the title over. I may have to pay lot rent until I can get the title back from DMV.
  5. I need to get some business cards made. The corporation question above will have to be figured out first so that I know whether or not to put LLC or whatever on the card. Maybe this isn’t necessary; not sure.
    Don’t get me wrong, I’m not listing these with a defeatist attitude. I want to do this and I will do this. Am I being too careful?

Makings of an article here!! - Posted by lyal

Posted by lyal on January 24, 2002 at 13:48:52:

Extremely well crafted answer. You just put so much into perspective for me.
The biggest problem is for me has always been fear of failure. I find myself trying to cover “all” bases to the point where I’m just spinning my wheels.
Many people who feel that fear don’t even realize that the issues we hear so much about like dealer licensing, surety bonds, “What happens if they don’t pay?”, etc are just excuses to not get started and not face that fear.
I love the part about getting the experience by making the wrong decisions. Fits me pretty well.
Sometimes the best thing is just to do SOMETHING even if its wrong. Keep it small. Pick the park that you think is least desireable for you to do business in and go talk to the park manager. If you screw it up, no harm done but you are a little less nervous next time, you may have learned some questions NOT to ask etc. Talk to some sellers even if it’s for homes you aren’t really interested in. You’ll learn something from each conversation (and, surprise! you won’t be as nervous during the next conversation)
Don’t think you need to know EVERYTHING about this business before you get started. Most of what you need to know you’ll learn in the trenches. Funny part is, later on you’ll go back and re-read Lonnie’s books and the info is all there but it just didn’t sink in!
Excellent stuff!!
Thanks, Lyal

Great Post Jerry something for everyone(NT) - Posted by ScottS(NC_

Posted by ScottS(NC_ on January 24, 2002 at 13:30:31: