Podcast Real Talk NYC: Embracing Failure as a Pathway to Success with Kenwood Chan

Table of Contents

• Introduction
• How failure connects to success
• Kenwood Chan on overcoming real estate failures
• The importance of consistency and perseverance
• Overcoming fear in cold calling and door knocking
• Building con fidence through practice
• Business failures and picking the right partnerships
• Reality of being an independent contractor in real estate
• Critical role of networking and daily conversations
• Brian’s journey from financial crisis to success
• The power of having a strong 'why'
• Encouragement to Dream Big and Strive for More
• FAQ

Introduction

In this episode of Podcast Real Talk NYC, we explore the crucial role of failure in achieving success. Join us as we dive into personal stories and insights from real estate expert Kenwood Chan, discussing how to overcome obstacles and use failure as a stepping stone toward greater achievements.

How failure connects to success

Failure plays a significant role in achieving success. Each setback is an opportunity to learn, adapt, and grow stronger. Embracing failure fosters resilience, which is essential for navigating life's challenges.

When we fail, we gain insights that can guide future actions. This learning process often uncovers new paths and strategies that lead to success. Here are some key lessons failure can teach us:

• Identifying weaknesses and areas for improvement.
• Building determination and a stronger work ethic.
• Encouraging innovative problem-solving skills.

Kenwood Chan on overcoming real estate failures

Kenwood Chan emphasizes that setbacks in real estate are common but surmountable. He believes that understanding the nature of failure is vital for growth in this competitive field.

Strategies for overcoming failure

Kenwood suggests several strategies for bouncing back from failures in real estate:

• Recognize that failure is a part of the journey.
• Seek mentorship and advice from experienced professionals.
• Maintain a positive mindset and focus on solutions.

In the Podcast Real Talk NYC, Kenwood shares his personal experiences, showing that perseverance and a willingness to learn are key to turning failures into stepping stones for success.

The importance of consistency and perseverance

Consistency and perseverance are vital for anyone striving for success. In the Podcast Real Talk NYC, we learn that many people give up too soon when faced with obstacles. It’s essential to keep pushing through challenges and remain disciplined in your efforts.

Building a strong mindset

A strong mindset helps you tackle difficulties head-on. Here are some tips to cultivate consistency:

• Set clear goals and stay focused on them.
• Develop a routine that reinforces your commitment.
• Celebrate small victories to maintain motivation.

Overcoming fear in cold calling and door knocking

Fear can be a significant barrier in real estate, especially when it comes to cold calling and door knocking. In the Podcast Real Talk NYC, overcoming this fear is discussed as a crucial step to success.

Stepping out of your comfort zone is necessary for growth. Here are strategies to conquer fear:

• Practice regularly to build confidence.
• Focus on the potential benefits of your actions.
• Seek support from peers to share experiences.

Building confidence through practice

Confidence is built over time through consistent practice. In the Podcast Real Talk NYC, it's emphasized that regular engagement in tasks like cold calling can drastically improve comfort levels and effectiveness.

The power of repetition

Repetition is key to mastering any skill. Here are some ways practice enhances confidence:

• Familiarity reduces anxiety and fear.
• Regular practice leads to improvement and expertise.
• Each successful interaction builds self-assurance.

Just like working out, the more you practice, the stronger you become. Over time, the discomfort fades and confidence grows, allowing you to tackle challenges head-on.

Business failures and picking the right partnerships

Failures in business can teach valuable lessons, especially when it comes to partnerships.  Choosing the right collaborators is essential for success.

Learning from past experiences

Many entrepreneurs face setbacks due to mismatched expectations with partners. Here are some insights on choosing the right partnerships:

• Ensure shared goals and values.
• Communicate openly to prevent misunderstandings.
• Be aware of differing work ethics and mindsets.

Understanding these factors can prevent future conflicts and failures. Building a strong, aligned team is crucial for navigating the challenges of running a business.

Reality of being an independent contractor in real estate

Being an independent contractor in real estate comes with unique challenges and responsibilities. Unlike traditional jobs, no one is there to guide you or push you to work.

As your own boss, you must develop strong self-discipline. Here are some important aspects to consider:

• No one will tell you what to do; you need to create your own schedule.
• Success requires consistent effort and commitment.
• Many agents struggle, with around 90% failing in their first year.

The importance of persistence

Success in real estate is not immediate. It often takes years of hard work and perseverance to achieve significant results. Top producers have faced numerous failures but continued to push forward.

Critical role of networking and daily conversations

Networking is essential for success in real estate. Building relationships can lead to new opportunities and clients.

Engaging with potential clients

Real estate is very much about meeting people and building connections. Here are some effective networking strategies:

• Attend local events and community gatherings.
• Use social media platforms to connect with others in the industry.
• Engage in daily conversations with people you meet.

Creating lasting relationships

Just like dating, forming lasting relationships in real estate takes time and effort. You must actively seek out conversations to build rapport with potential clients.

The more people you know, the more business opportunities you will encounter. Networking is not just about selling; it's about creating meaningful connections.

Brian’s journey from financial crisis to success

Brian's journey is a testament to resilience and determination. Facing a significant financial crisis, he transformed his life through real estate, turning adversity into opportunity.

Initially dabbling in real estate as a side gig, Brian realized he needed a more stable source of income. Working multiple jobs only brought him temporary relief, as each had a limit on earnings.

In the depths of his financial struggles, he made a decisive choice: to commit fully to real estate. This decision marked the beginning of a remarkable transformation in his career.

The power of hard work and mentorship

Brian dedicated himself to learning the craft of real estate. He sought mentorship and was inspired by successful figures in the industry. Through hard work, he honed his skills and built a strong foundation for his career.

• He engaged in cold calling and door knocking, pushing through discomfort to connect with potential clients.
• His relentless efforts paid off, leading to significant financial gains in a short period.
• Within just a few years, he overcame his financial crisis and achieved a level of success that seemed unimaginable before.

A blueprint for success

Brian's story illustrates that success is achievable with dedication and the right mindset. By committing to his goals and putting in the necessary work, he transformed his life and set a powerful example for others.

His journey emphasizes that anyone can rise from difficult circumstances if they are willing to put in the effort and seek guidance along the way.

The power of having a strong 'why'

Understanding your motivation is crucial for achieving success. Brian's journey highlights the importance of having a strong "why" that drives your actions and decisions.

Defining your motivation

In the beginning, Brian's motivation was unclear. However, as he faced obstacles, he realized that his "why" was tied to his desire to support his family and escape debt.

This newfound clarity fueled his determination to succeed in real estate, pushing him to work harder and stay focused.

The impact of a clear purpose

When you know your "why," every challenge becomes a stepping stone. Brian's motivation transformed his approach to work, making him more resilient and willing to take risks.

• A clear purpose helps you push through discomfort and fear.
• It provides a framework for making decisions aligned with your goals.
• Understanding your "why" can inspire others and create a positive ripple effect in your community.

Encouragement to find your "why"

Brian encourages others to discover their own motivations. Whether it's financial freedom, personal growth, or helping others, knowing your "why" can significantly impact your journey.

In the end, a strong "why" not only drives you forward but also helps you overcome the hurdles along the way. Embrace your purpose, and let it guide your path to success.

Encouragement to Dream Big and Strive for More

It's essential to encourage yourself to dream big. No matter where you are in life, setting ambitious goals can ignite your passion and drive.

Finding Your Unique Path

Every individual has a unique journey. Here are some tips to help you dream big:

• Identify your passions and interests.
• Surround yourself with positive influences.
• Embrace challenges as opportunities for growth.

In the Podcast Real Talk NYC, the message is clear: don't let fear of failure hold you back. Instead, use that fear as motivation to push forward.

The Power of Community

Joining communities that share your interests can be incredibly uplifting. Engaging with like-minded individuals can provide support and encouragement.

• Attend workshops and networking events.
• Participate in online forums and groups related to your interests.
• Seek mentorship from those who inspire you.

When you connect with others who share your ambitions, you create a powerful support system that can help you achieve your dreams.

FAQ

Here are some frequently asked questions that can help clarify your journey toward success.

What should I do if I feel overwhelmed by failure?

Feeling overwhelmed is natural. Take a step back, reassess your goals, and remember that failure is part of the learning process.

How can I stay motivated during tough times?

Focus on your "why." Understanding your motivation can help you push through challenges. Celebrate small victories to maintain your momentum.

Is it important to have a support system?

Absolutely! Surrounding yourself with supportive friends, family, and mentors can make a significant difference in your ability to overcome obstacles.

How can I find my passion?

Explore different activities and interests. Pay attention to what excites and motivates you. Don't be afraid to try new things until you find what resonates.

Where can I learn more about overcoming failure?

Check out the Podcast Real Talk NYC for inspiring stories and practical advice on embracing failure as a stepping stone to success.

Inspired by our discussion on overcoming failure?

Tune in to my podcast for the full interview and more insights! Don’t let setbacks hold you back—learn how to turn them into stepping stones! Listen now and share your thoughts!

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Email:     bn@brianngonyc.com
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