If you’ve spent more than 1.7 seconds looking at the sidebar ads on Facebook or reading the email headlines from all the “gurus” out there, you’d think that after so many people found “the key to success”…there have got to be a thousand “Single keys” to success, right? Sadly, most people are full of crap, and it’s reflected in the marketing that we’re all bombarded with!
A Big Shift
If you’re like me, you started out in real estate looking for “that one deal” or “that one thing” you could do that would set you up for life, right? Well, like me, you’ve probably realized that there is no “one” thing you need to do. There are a few things that you need to do consistently in order to do deals consistently. Those few things are listed below, but I’m going to dive deep in to each step in upcoming blog posts. Here they are!
Set Goals or You’ll Work for Someone Who Does
That’s harsh, isn’t it? You bet! Well thought-out goals that are written down will literally pull you towards your goals! The practice of goal-setting has a whole host of benefits that I’ll dive into in the next blog, but for now, just know that you’ve GOT to set meaningful, specific, and action-oriented goals in order to consistently be successful.
Plan to Fail…or Fail to Plan…they’re the Same Thing!
So, Plan, plan, plan! But wait! Isn’t planning the same as goal-setting? Not quite. Planning has to do with the implementation of your goals. Ok, so you’ve set some goals, now what are you going to do to accomplish them? How are you going to obtain the capital, personnel, knowledge and other resources that you’ll need in order to accomplish your goals? Planning and taking action are the difference between goal-setting and dreaming.
It sounds simple, but so few people do it! Just figure out what you need to do (planning) to accomplish what you need to so (setting goals), and then DO IT! Every single day, you MUST do something (implement marketing, make offers, negotiate deals, add buyers to your buyers list, raise private money) that has a direct effect of making you money! (HINT: the 5 things I just listed are the only 5 revenue-generating tasks that real estate investors do.)
Why is this so important? It’s part of “taking action” and here’s how it works: Cash comes from Deals, deals come from potential deals (leads), and leads come from marketing. So, if you miss the first step, you’ll never get any leads or deals or MONEY! So, when it comes to marketing, always remember what my good friend, Jay Conner, taught me: T.M.I. – Test, Measure, and Improve your marketing! I’m going to spend a couple blogs on this point, but you can cheat and find out my top 29 ways to find motivated sellers on this FREE webinar HERE.
Treat Your Business Like a Business.
This simple and over-used advice is one of the most valuable principles that entrepreneurs need the most. So, what does this look like in the world of a real estate investor? Always know how much marketing is going out and when. Run and review reports. Know your financials. Budget…and stick to it. Get and stay organized. Always be learning. Look for opportunities and know which ones to turn down. Know who your target markets are (for buyers and sellers). Find a niche and master it. These are all traits of successful entrepreneurs, and the more of them that you embody, the more successful you will be and the more money you will make.
What it All Boils Down to:
Discipline. Good, old-fashioned, self-discipline will do more for you than any temporary windfall or stroke of “luck” can possibly do. Set your course, and be stubbornly disciplined about doing whatever it takes to achieve your goals, until they are accomplished.
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To YOUR Success,
Jim “JimmyZ” Zaspel
P.S. – Would you like to know how my wife and I are flipping 40 houses this year? RSVP for my upcoming webinar HERE.
P.P.S. — Wanna Grab a FREE seat to my upcoming Greater Philadelphia REIA? click HERE!