In his landmark book, “Good To Great,” bestselling author and business researcher, Jim Collins, analyzed what makes companies successful. He and his research team spend nearly a decade analyzing data to develop insights into the behaviors/attitudes of winners. One interesting trait they stumbled across—an idea that has ramifications for all professionals going through challenging times—became known as the “Stockdale Paradox.” If your Texas real estate license has come under attack, it’s worth your time to study this idea and embrace it during your time of crisis.
A Deep Faith and a Clear Vision of Reality
The Stockdale Paradox derives its name from Jim Stockdale, a US military captain who faced 8 years as a captivity during the Vietnam War. Stockdale endured at least 20 sessions of torture, and he had no reason to believe he would survive or see his family again. Yet he never lost faith that he would get out or survive his ordeal. He credits this powerful belief in a happy ending with keeping him alive.
Paradoxically, though, the prisoners who never made it out (per Stockdale) were too optimistic. They kept telling themselves the ordeal would be over soon and that they would be home by Christmas. And when Christmas came and went—and they were still imprisoned—they thought they’d be free by Easter. And when Easter came and went, same story—they thought freedom was just around the corner—until they “died of a broken heart.”
The big lesson is that you need to maintain faith that you’ll succeed despite all the obstacles and you need to see reality clear—to avoid self-delusion.
Collins observed that successful companies and successful people embrace two behaviors that on the surface seem contradictory:
- They maintain faith they will prevail, regardless of the difficulties, and;
- They confront the ugly truth of the reality at hand.
Applying the Stockdale Paradox to Your License Situation
If your Texas real estate license is in jeopardy, try this:
- Acknowledge the true facts your situation. Maybe you got involved with a partner who knowingly broke the law or at least pushed into a gray area. Maybe you lack the cash flow to keep your office open during this turbulent time. Maybe the attack on your license has left you feeling hopeless and depressed. Accept these challenging realities—don’t run from them or deny them.
- Don’t lose hope. You worked to get your real estate license. Never lose sight of what you’ve accomplished and what you are capable of. You can prevail, even when the situation seems dismal.
If your real estate license is under attack, we can help! Contact the BERTOLINO LLP team online, or call us at 512-717-5432 to get started.
BERTOLINO LLP proudly represents licensed professionals across the entire State of Texas. To best serve our clients we have offices in Austin, Houston and San Antonio.