4 steps to making personal investment a habit in the New Year

Property Management melbourne

Successful principals and property managers practice ‘personal investment’. Personal investment doesn’t mean a seminar here and workshop there. Personal investment is a committed act to a four-step cycle of goal setting, training selection, training attendance and training implementation. Follow these four steps to make personal investment a habit leading you to success in the New Year.

You must think of yourself as an ‘asset’. Assets must be managed to maintain and enhance their value. If you invest in yourself, you are maintaining and enhancing your skills and knowledge and therefore putting yourself ahead of the pack. Quite simply, it pays to make an investment in you.

1. Goal setting

The first step in the personal investment cycle is to list your goals, preferably towards the start of the year. Consider your role, be it Principal or Property Manager, and list which skills are needed to carry out this role. These should then form the basis for your goals.

If you don’t know where you’re heading, then how are you going to know if you get there? By attending training that just happens to be on, chances are you will gain little from the training. You may come away from the training with many great takeaways, but the chances of you implementing these are minimal. That’s because, the training was not part of your goals or objectives. It is also realistic to say that the training will more than likely have no impact in the advancement of your skills and knowledge, or the opportunity to seek promotion.

To know which training you need, you must first understand your career aspirations. Once you have established your goals for the next 12 months and listed the skills you require to achieve the promotion or pay increase, you can start researching what training is on offer, including available dates, costs, travel and whether or not you would need time away from work.

2. Training selection

The second step is looking at your goals and matching them to training courses which give you the skills you need. For example, at this point in your career you may be working as a Property Management Coordinator. In order to gain the skills, knowledge and confidence to gain a promotion to manage a portfolio, it will be necessary to undertake training in portfolio management and property investment.

Or, you may want to consider working towards a promotion to Leasing Consultant. For this, you not only need to understand what is involved in property management, but also require negotiation and property presentation skills. Therefore, when designing and budgeting for your training for the year ahead, seek out training courses that will assist you with gaining the necessary skills, knowledge and confidence to gain the position and role you are aiming for.

Keep in mind, your training does not always need to be associated with property management. Sometimes, sales conferences or leadership training, for example, may be more suitable. Be open to the vast array of educational platforms on offer.

3. Training attendance

The third step is attending the training you have committed to. Sounds like a no-brainer but ‘attendance’ means being present at the training course or seminar both physically and mentally. Many times, individuals undergo training but are too preoccupied with what’s going on back at work, or using it simply as an excuse to get away from work! You must undergo your training with 100% focus if you want to get 100% out of it.

This is where you need to differentiate between online and in-class training. Online training courses are one of the best forms of learning, provided that you sit in a quiet location and are free from interruptions. It’s no different to sitting in a classroom, except that there is no need to travel to a distant location. If part of your training is to attend an in-class workshop, then prior to the workshop you should write down what you are aiming to learn. Whether online or in-class, this same attitude of research and planning should be adapted for all training to ensure you gain the skills and knowledge you need.

4. Training implementation

The final step is where most principals and property managers come undone – actually implementing the new skills and knowledge you have attained from your training. This means implementing not just once but continually so you bring positive change to your role or business. Only then have you succeeded in achieving your goal.

Once you have gained your new skill or knowledge, it is important that you start putting it into practice. This does not mean going back to the office and completely changing processes and policies. What it does mean is that you may now notice areas where minor adjustments can be made to improve productivity, performance and profitability.

It’s not good enough to simply complete your training then expect a promotion or increase in salary immediately. You must first implement the newly learned skills or knowledge, and work towards gaining the respect and confidence that you are truly making a difference to the business- helping the business achieve its targets, as well as your own.

The benefits to investing in you are rewarding both personally and professionally. It’s not wise to expect your employer to invest in all of your training. If you make a personal commitment and have a plan with set goals and targets you will without a doubt reap rewards. Your investment in training will be more than covered and your opportunities for advancement will be enhanced. This is how you can make personal investment a habit leading you to success in the New Year. If you would like us to help you with your own personal investment goals and training, contact us.

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