One of the best things about my job is that it forces me to learn new things all the time.
Today, I need to review a proposed Tenants-in-Common (“TIC”) agreement that will govern the relationship between two entities which will jointly own a property we intend to renovate.
I have never seen a TIC agreement before. But this does not scare me.
Why?
Because I never saw a purchase agreement before my first deal, never saw an operating agreement before I set up my first LLC, never saw a K1 before I had to send out my first to an investor, etc.
Each time I confront some new challenge in our business, I do the best I can to learn what I need to know to arrive at a decent solution. I don’t expect to achieve perfection; I just aim to do well enough to move the business forward while avoiding catastrophic mistakes.
There are two key benefits to proceeding in this manner. The first is obvious: By be willing to live with “good enough”, I avoid getting hung up on the minutia of any one deal, allowing us to do more deals.
The second benefit is to my personal growth. Every time I do one of these things for the first time, I learn. And every time I succeed at doing something new, I gain more confidence that I can successfully overcome new challenges.
What more can you ask for in a job?