As property entrepreneurs, you’re familiar with the importance of transforming ideas into actions. Yet, just like in property ventures, in our personal journeys, there’s often a vast gap between our aspirations and our actual behaviours. Consider the world of property, many of you love researching properties online, diving deep into details, and indulging in digital exploration – a perfect example of high motivation combined with the ability. However, when it comes to conducting feasibility studies or making offers, the enthusiasm often wanes.

Why does this happen? And more importantly, how can we fix it?

My exploration, inspired by Stanford’s Behaviour Design Lab, reveals that three core elements at the heart of every behaviour lie: motivation, ability, and prompt.

• Motivation: Reflects how much you want to engage in a particular behaviour.
•  Ability: Represents how easy it is for you to execute the behaviour. 
• Prompt: This is the trigger that nudges you to act.

With our property example:

• The motivation is there for online research because it’s engaging and offers instant gratification. The ability is present too, with user-friendly platforms like Fast Property. However, when it comes to feasos or making offers, even though the ability might be there, the motivation might not be as high due to perceived complexity or fear of rejection.

Here are the crucial insights:

• Balancing Motivation and Ability: When motivation dips, as in the case of feasos, simplify the task to boost ability. Chunk up numbers, give yourself permission to round up numbers and use guesstimates … favour progress over perfection. Bottom line: Think of motivation and ability as partners; if one falters, the other can compensate.
• The Necessity of a Prompt: Set regular reminders to conduct feasos or to make offers. Schedule it in your calendar or make a commitment to a friend or peer to do it. Without this nudge, you might keep procrastinating.

In essence, to turn your property ambitions into realities, ensure your motivation and ability are in sync and never underestimate the power of a simple prompt. By deliberately designing your behaviour, you pave the way for transformative success.

Warm regards,

Dom

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