Posted on: January 20, 2020

Ever wonder how you can develop laser focus so you can be as successful as Wholesaling Inc’s very own Tom Krol? You’re in luck cause in this special episode, Tom himself will share the tips and tricks that has helped him master focus and enjoy massive success!

While several key factors have contributed to Tom’s monumental success in the wholesaling world, there is one component that ranks high on his list: laser focus.

Make no mistake about it, developing laser focus is no easy feat. The good news is there are several proven ways to develop laser focus so you can take your wholesaling business to the next level and achieve pretty much everything you want in life!

Today’s episode is short but it’s loaded with so many gold nuggets that can dramatically improve your productivity, enhance your focus, and help you get ahead of the pack. Have a pen and paper handy. You have plenty of awesome (and proven!) tips and tricks to take note of!

Key Takeaways

  • What the 50-10-50 rule is and how it works
  • Great book on focus that he recommends
  • What a “brain dump” is and how it’s done
  • Possible setbacks people will experience when they use the 50-10-50 rule and how to address them
  • How doing a countdown can help you beat procrastination
  • What the “shiny object syndrome” is and how to overcome it
  • Why it pays to have a “someday, maybe” folder
  • The game-changing book he recommends and refers to all the time
  • The importance of seeking discomfort when prioritising tasks

RESOURCES:

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Episode Transcription

Tom Krol:
Hey guys, welcome to another episode of Wholesaling Inc. I’m your host, Tom Krol. I am so excited to be with you here today. I’ve got a very special episode because it is just me, myself and I. I don’t normally do podcast just by myself. I wanted to share something with you, something that I thought could really, really help you take your wholesaling business to the next level. It’s something that I do every day, all the time. I implement it and it works. This is something that pays off and I’m going to share it with you right now, so let’s get started.

Tom Krol:
By the way, if you don’t know what wholesaling is, wholesaling is simply the art of consistently finding discounted properties. That’s it. If you can get good at finding discounted properties, you can become financially free. I love wholesaling, changed my life. A lot of the longtime listeners on the show, they know all about my story about how I got started. I really started truly from almost nothing, from below zero, financially, and it’s been such an amazing blessing in my life.

Tom Krol:
I love sharing it with everyone I meet, everyone I run into, whether I’m sitting at the lobby of a doctor’s office or speaking to somebody who I’m in a wedding party with, friends, family, it doesn’t matter. I love wholesaling. It changed my life. I’m super enthusiastic about it and I love sharing it. So I want to tell you more about it.

Tom Krol:
So here is the deal guys. In my wholesaling business, one of the things that has helped me really succeed is focus, laser focus. I think a lot of people really misunderstand what focus means or what it is, or more importantly the application of focus, right? So how do you actually apply focus in your business? I’m going to give you a few tips and tricks that you can implement right now, today. You can change this before breakfast or whatever your next meal is. You can change this right now and just have exponential success.

Tom Krol:
Just change your perspective a little bit and your trajectory will go through the roof and over the moon because this is stuff that is proven by better men and women who have come before me, who implemented it, who learned the hard way. You guys, I am all about not learning the hard way. I’m all about following a system that works, following a path. I want to be a leader, not a bleeder. There’s no reason to cut a path through the woods when there’s one that already exists to exactly the location that I want to get to.

Tom Krol:
Let’s talk about exactly that. Tip number one is this, the way to get focused in your business is to literally focus. What that means is… It’s a little trick that I learned from one of my early mentors, Jeff Walker, who runs a company called Launch, I believe it is, or the book that he wrote was called Launch. His company, when I first started, was so critical to my success. What he taught me was a little trick he calls 50-10-50. What 50-10-50 is, is basically a way for you to alter focus on one thing.

Tom Krol:
A great book to read, that I’m going to keep referring to during this really short and super effective podcast episode, is The ONE Thing by Gary Keller. If you have not read The ONE Thing by Gary Keller, I strongly recommend that you read it or listen to it on Audible. It’s a really great listen as well. But it’s a great book and I strongly recommend it. We’re going to be referring back to it many times. You probably heard me talk about The ONE Thing before.

Tom Krol:
So here’s the way 50-10-50 works. Essentially, 50-10-50 means that you are going to take your desk and you are going to clear it off and you are going to put one thing in front of you, one objective. You are going to work on that without any internet, no phone. The phone is locked in a drawer in another room. There are no distractions whatsoever and you are going to implement this 50-10-50. For 50 minutes, you are going to work on nothing else except for the one thing in front of you. You will be absolutely amazed by what you can do in such a short amount of time.

Tom Krol:
Fifty minutes on, it sounds like, “Oh, you know that’s not really a long day.” You are not working as hard as you’ve been convincing yourself that you’re working. Yeah, you may be putting in a lot of hours and busy time and on the phone and talking and jibber jabbering and all this other stuff, but laser-focused time to actually move that boulder up the mountain, I am telling you from experience you are probably working a lot less than you actually think or other people around you maybe convinced that you’re working. So this is going to be a real eyeopener.

Tom Krol:
So here it is again. It’s 50 minutes, no distraction. You identify what has to get done, you focus on only that for 50 minutes, then you take a 10 minute break. I would suggest literally using a timer. I use a timer on my phone. There’s all sorts of timers you can get. There’s egg timers, whatever you want. You then take a 10-minute break. You can have coffee, tea, take a walk, whatever you got to do, and then you go right back into it again for another 50 minutes. It’s called the 50-10-50 rule. It works. It’s super effective.

Tom Krol:
I am telling you write in, let me know because I want to hear about what you’ve been able to accomplish in what seems like such a short amount of time. You will be absolutely blown away. It is going to change your entire world when you implement this and you really get focused on it.

Tom Krol:
Now, here’s what I will tell you, when you do this, when you first get started, you are going to get distracted. You are going to start thinking like, “Oh, I’ve got to pick up my daughter’s ballerina shoes and don’t forget I’ve got to do this and I also have to call this guy and I’ve got to do that and I’ve got to do this.” What I’m going to suggest is, when you first start the 50-10-50, get out a pen and a yellow pad of paper, put it on your desk. Anything that pops into your brain that you have to do while you’re sitting there, or sometimes you’ll get a really, really good idea or whatever it is, practice what Brian Tracy calls a brain dump. Write it down so you can take it out of your brain and get back to work.

Tom Krol:
Now, here’s the good news, once your brain and body get used to focusing for 50 minutes, this will stop happening. I promise you it will stop happening. But in the meantime, for the first five, six, seven weeks, keep a pad when you do this every single day, to be done at least Monday through Friday, keep that yellow pad out and write it down. Again, this is a brain dump, it takes it out of your brain and puts it on the paper so you can stop thinking about it and go back to work. It will change everything that you’re doing. If I sound enthusiastic about it, I am because I know how well it works for me.

Tom Krol:
The other thing that’s going to happen with the 50-10-50 that tends to happen when people start it is they procrastinate. What happens is is that they never can seem to actually get the time to do it. So what I’m also going to suggest is that you practice something… Well I should say this, the first thing that I’m going to suggest is write it down. One thing that I live by and a lot of my mentors live by is if it’s not written down, it doesn’t exist. So I would start using a calendar. You should have one calendar because you’re only one person. So there shouldn’t be a personal and work calendar, and all of that.

Tom Krol:
One calendar because you’re one person, write it down and actually schedule the 50-10-50. It’s really great if your friends and family members, especially if you work in a home office like I do, that everyone knows, “Hey, when dad’s office door is closed, he’s working and don’t bother him. Keep that door closed.” So write it down, schedule it, get your family or whoever you live in a house with to all agree that this is your time. This is your, approximately, two-hour time slot where you are going to be laser-focused on work. Zero distractions.

Tom Krol:
The other thing you can do if you fail to write it down and you know something needs to get done, and by the way everything that you need to get done, it’s really a lot easier than you’re thinking. It just seems tedious and difficult because that’s a delay tactic, to not do it. But everything that you have to get done is actually really, really easy and actually pretty interesting. Once you start to focus on it, you’re going to start to enjoy it. But what you want to do is you then want to do what Mel Robbins talks about in The 5 Second Rule book, and this is just do a count down.

Tom Krol:
I was doing this long before the book came out, but I love to give no credit, that’s great, God bless her, she’s a rock star. I just count down five, four, three, two, one, zero and go. I have never broken that rule to myself. Every single time since I’ve been a kid and I was there to jump off the garage roof into the snowbank up until today, I have never broken that rule to myself. When I do a countdown and I commit to doing it and I get to that go, I go no matter what.

Tom Krol:
This is another great tool to psychologically, if you feel like you’re waiting on doing something because you’re not prepared or because you don’t feel like it or because company is over, or because it’s too late or too early or you’re too tired or not focused enough or you don’t have all the tools that you need to do it, do it anyway. Something I want you to start practicing is the idea of progress, not perfection. Some people say, I heard Joe McCall say the other day, he said, “Done is the new perfect.” However you say it, get it done. Start it and progress, not perfection. Focus on it and you will be amazed of what you can do.

Tom Krol:
So if you’re in your day and you notice there’s a priority, there’s something that you have to work on, five, four, three, two, one, zero, go, and you go no matter what. You set that timer, 50 minutes and you start working. You are going to be amazed, again, of what you can accomplish when you’re in that zone, that flow.

Tom Krol:
There’s so many different people… I think it’s Cal, is it, Newport from Deep Work wrote the book, that Deep Work book, amazing. When you guys are in that flow, something that Seth talks about in The Dip book, another great resource. All of these men and women who came before us, they understand these rules, they implement them. They do what the struggling people don’t do and this is one of the tricks, laser-focus. 50-10-50; 5 Second Rule; if it’s not written down, it doesn’t exist; progress, not perfection. Those should all work for you.

Tom Krol:
Now, there’s another little psychological tool that your body is using against you and that is enthusiasm or distraction. This is a big one, this is a game-changer for people who want to accomplish a big dream, a big goal, a big hairy audacious goal, whatever it is. There’s another show stopper in there and that is enthusiasm about new opportunities. Some people call it shiny object syndrome. Here’s what I’m going to tell you about it, it’s real and it’s a killer.

Tom Krol:
What is so insane about this distraction is you don’t really see it coming and you try to justify it. A lot of times when people talk about a distraction or a new enthusiasm, you’ll actually hear, if you listen to what they’re talking about, if it’s something that is not congruent with their current goal, they’ll use the word just a lot. They’ll actually use that word just. Like, “All I have to do is I just have to,” or “I’m already doing this, so we just have to do that.”

Tom Krol:
I can tell you that anything that you want to start that’s new is going to be 10 times more difficult to do than you think. So something that seems easy, a new project, a new plan, a new destination, a new goal, something that maybe is obvious and silly and tiny and it doesn’t seem like it would take up a lot of time to implement, those are some of the most difficult things to implement. They are typically 10 times harder to do and to track and to measure and to implement than you first are enthusiastically excited about.

Tom Krol:
So when you get distracted, one thing that I learned, and this is a Brian Tracy trick, create a folder that we call the Someday Maybe folder. As a matter of fact, I’m going to go right now, I have a file cabinet right behind me and I’m going to get my Someday Maybe folder. Actually right now, let me do that.

Tom Krol:
So guys, I have in my hands right now my Someday Maybe folder and it is thick. It is thick. There are so many opportunities. I’ll tell you a secret, the more successful you become, the shinier the shiny objects get and the more of them there are. People come up to all the time and they approach you with really great, interesting sounding ideas and opportunities that are total killers and they don’t even mean to, it’s just that they see that you can get stuff done. They start to want to work with you. They start to want to do projects with you. I can tell you that your power or your ability to say no is so powerful.

Tom Krol:
So I created an actual folder, it’s right here in my hands, it’s a manila yellow folder and it is full, literally. I mean, just page after page of all kinds of little notes. There’s one here for… Oh, this was an idea I had about a kid’s toy. This was an idea that I had about a new marketing channel for real estate. This was an opportunity to work with a very, very popular person in a whole different industry. So I have page after page after page, some small, some large opportunities I’m holding in my hand right now.

Tom Krol:
There’s some funny stuff in here that I’m actually even embarrassed to talk about, but I cannot tell you how enthusiastic I was when I first heard these ideas. But if you continue to chase these ideas down the rabbit trail, they could really be a deal killer for you.

Tom Krol:
So I would really strongly suggest to create a Someday Maybe folder. That means, “Hey, you know what? Someday, maybe I will create that expandable piggy bank. It’s a stretching piggy bank for kids that will grow as they put more money into it.” That sounds like a great idea. Well, I have about, I would say, no less than probably 500 ideas in this folder, all just exactly like that of things that I can work on. But the trick is saying no to them and doing what Brian Tracy calls a brain dump, writing it down, describing it, and then putting it away in your Someday Maybe folder and when you have total financial freedom or you’re not interested in doing what you’re doing or you’ve sold the business or whatever, you can then go back in and choose one and realize it’s going to be 10 times harder to invent, 10 times harder to do, 10 times harder to reach, to implement, to focus on than you’ve originally thought.

Tom Krol:
The enthusiasm that you feel around a new idea is really just a way to not do the hard work of what’s in front of you. It’s a way to avoid doing the hard work that needs to be done to take you to the next level, or the next step towards your big goal and it’s so important that you get it out of your brain and you write it down. This is the best trick I’ve ever learned on how to avoid shiny objects, is when you hear them, write them down in detail, get excited, take 10, 20 minutes, write down all the peripheral ideas around it, put it into your Someday Maybe folder and then put that folder in your file cabinet. If I see a stretchable expanding rubber piggy bank coming out on the market, I’ll know that one of you guys heard this episode and you could send me one in the mail and I’ll give it to my kids and I’m going to stay focused on my business. So that is a little trick that you can use right now.

Tom Krol:
So again, what we want to focus on is we want to laser focus. We want to implement it with the 50-10-50, have a progress, not perfection idea or attitude around that. We want to focus on The 5 Second Rule, to countdown five, four, three, two, one, zero, go and then just do it. We want to write it down and we want to use the folder for the shiny objects, the Someday Maybe folder, which is… I can’t believe how big this thing is getting. I add to it every week at least, and it’s been a great adventure to not go on any of those charities. It’s been a great adventure to stay on the journey that I’m on and I’m so grateful that I’ve learned these lessons early on.

Tom Krol:
Another great resource that I want to talk about, before I let you guys go on this, is I really want to discuss another book. It was recommended to me by Robert Helms. It is called The War of Art. It’s actually on my shelf. I have a gigantic library, but I have a shelf where I keep it just to 10 books that I refer to and read consistently every year. It has to stay at 10 books. This is one of my 10 books, it’s called The War of Art. As a matter of fact, I’ll get it right now. It’s on my shelf of my 10 books, that these are part of my personal library. These are books I travel with, I reread all the time, I refer to all the time.

Tom Krol:
This book is called The War of Art: Break Through the Blocks and Win Your Inner Creative Battles by Steven Pressfield. This book will change your life. It talks about why we get enthusiastic about new ideas when we have something right in front of us that’s worth its weight in gold that we should be focused on and it’s going to talk all about that.

Tom Krol:
So really, an exciting book, something that is worth reading. I would recommend that you get the physical book and actually read it. If you can drive a car and read street signs, you can read. Even if you have to read slow, even if you would lose your place, even if you read and then you forget what you just read and you have to reread it, even if you can’t retain it, even if you have a low vocabulary, it doesn’t matter. I started reading books when I was 33 and I am 40 now, and I can tell you that I attribute a very, very large portion of my success to actually getting a book and being committed to reading eight pages a day. So I would suggest the same for you guys. It’ll help you focus and help you make connections in your brain. It’ll build the most important muscle in your body, your beautiful brain that you have there sitting above your shoulders. So very, very crucial for your success.

Tom Krol:
So we’ve gone through a few books guys. I wanted to share that with you today. This is a short podcast that’s laser-focused. It’s something you could implement and change your whole life before breakfast if you do this today, if you do it right now, start your 50… There is no reason why you can’t do a 50-10-50 right now, implement it and get it going.

Male:
Bam.

Tom Krol:
I love wholesaling, so use this for wholesaling. One last tip I’m going to leave you guys with is seek discomfort. The other way that we kind of escape the hard work is we put out all of our work in front of us and we seek comfort. We do what is easiest. What I’m going to suggest is when you are trying to prioritize what portion of your work you should work on, seek discomfort. Do whatever is most uncomfortable. If you don’t like getting on the phone with sellers, spend your entire 50-50, all of those minutes, spend it cold calling sellers. If you don’t like going out and meeting with sellers, spend your entire 50 minutes for both ones, go on an appointment with the seller. Do what is most uncomfortable.

Tom Krol:
The most successful people, the 1%, they have awkward conversations and they seek discomfort every day. Go to a gym and find the most fit people and I guarantee you, those people seek discomfort. They seek discomfort in their diet, they seek discomfort in their workout every single day, and those are the ones that get the best results. If you wish to change the trajectory of your financial future, seek discomfort on the things that have to be done in order to change your financial future and the rest of the stuff is easy.

Tom Krol:
All right guys, I hope that helps. So implement that today and keep me posted on your success. I want you to rate and review this podcast. If you are a longtime listener and you have not rated or reviewed this podcast yet, go and do it right now. We give you guys a ton of pure liquid gold that you can implement right now and you can actually have real success with. So you owe it, be a go giver, have an abundance mind set, share this podcast with everyone you know. Don’t just keep it to yourself. Rate and review it right now.

Tom Krol:
Guys, have a great day. Talk to you soon. Bye, bye.

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