The COVID-19 pandemic has resulted in economic disruptions of epic proportions. However, while things seem bleak, now’s not the time to stand on the sidelines and do nothing.
On the contrary, now’s the perfect time to double down on your efforts to ensure you stay on top of your life and business, even in today’s unprecedented economic downturn.
To help you put things in perspective, our very own CEO Cody Hofhine shared his thoughts as well as some of the things he’s been doing every day to ensure he’s not sitting still and he’s doing something to steer his business in the right direction.
Now’s not the time to let negative thinking take over. Consider this time as the perfect opportunity to focus on aspects of yourself and business that need work. If you can use some expert guidance and some much-needed pep talk, this episode is exactly what you need to hear!
3 Ways To Grow Your Business During Hard Times
I’m super excited to be with you. Let’s get right into this. I’m not going to waste any time. We’re going to cut right to it to help you keep going with your real estate business and how you can continue to find those deeply discounted properties during this time. The recording of this is on April 6, 2022. I want you to know that we’re in the thick of all this Coronavirus and changes that are going on in the economy. I want to get on this show and share with you some thoughts that I’ve been thinking about lately. What it is I’m doing every day to make sure that I’m not sitting still and waiting to see what’s happening, but my team and I are still actively working on the business.
There’s been a couple of shifts. I’m going to share with you tips that we are doing in the business that is helping us still find deals in this market. Some of the pivots and changes are coming on, but it’s okay. We can do this and are going to get through this. This COVID-19 will pass. It’s time to make sure that we are ready for ourselves. With all that’s going on with this Coronavirus, are you mainly consuming what’s going on or are you someone that’s creating? Are you consuming more than you create or are you creating more than you consume?
I believe this is crucial because consuming the wrong information or ideas and what’s presented from certain areas could make you not take action during this time. I think about the media. It is out there to pinpoint the bad. I get it. I’m not here to say that I’m not aware of Coronavirus and what it’s doing to our economy, families and people’s lives. However, if all you listen to every day is what the news is saying, things are going to seem bleak, dark and troubling. It’s going to sound like the world is being taken over and the economy is going to crash. It starts to feed you with all these negative thoughts that won’t serve you, me or any of us.
It’s okay. Be aware. There is a pandemic going on, but it doesn’t mean that we need to panic. It means that more than ever, we need to start taking the time to create and become someone better during this time. What are we doing? As I ask them, ask them to yourself. Are you hiding from the future? Are you hiding from what’s going on or are you taking the time to develop yourself, ready yourself, skill up and be prepared for the future?
It is not the time to hide from the future. It is time to prepare and double down. We hear from Jim Rohn all the time, “Rarely does an individual’s income exceed the level of their personal development.” It is crucial to be working on your personal development and yourself because I believe we live in a great time where new thinking, capabilities, skills, and mindset will evolve. You’re going to see businesses do things differently than they ever have before.
You’ve seen the stock crash, go up and down, do all these things that are so volatile, all over the place, 20 points down, 10 points up, 13 points down, 7 up. It’s crazy stuff. On the other side of the coin, you’ve got a company like Zoom, which acquired over 50 million customers and their stock is through the roof. Only because some companies could be hurt during this time doesn’t mean all companies will be hurting during this time. Some companies like Zoom hit the jackpot. Everyone’s resorting to video conferencing because everyone’s working from home. New ways, thinking, and capabilities are to be evolving in the time that we live in.
“Your income rarely exceeds your level of personal development.” – Jim Rohn
It’s crucial. What can we do to adapt and evolve to make sure that we are learning new things that will help us pivot, grow and be better business individuals on how we run our real estate business. This is an incredible time to be into real estate. This is a time that each one of us should figure out, are you in or out? If you’re in, it’s the time to put the jersey on and get in the game. It’s no longer sitting on the sideline or cheering from the crowd. Be in the game. Be present.
There are so many people out there that need your help. Remember, when it comes to real estate in general, being a deal finder and finding these deeply discounted properties, it is crucial to understand that real estate is the byproduct. Many times we get into this business and think, “I’m in real estate.” That’s true, but it’s crucial. What we are is problem solvers. Here’s what I can tell you. Our business has seen a huge uptick in leads. More leads are coming in. Why? It’s because there are individuals that need our help.
Some of them might be to purchase their home. Others find out that we’re not the best option and we still have incredible conversations with these individuals. We’re able to sit there on the phone and help them. Even if we aren’t the solution, we still take the time to sit there on the phone, help them out, serve them and truly love them. What this business is all about is exactly that. Getting a home under contract is a byproduct of solving people’s problems. It is the time more than ever to put on the mindset of service, love and connection. Those are three powerful words that I use all the time love, serve and connect.
It is the time that you can love, serve and connect deeper with those that are reaching out to us to see how we can genuinely serve them. It is a fantastic time to be in real estate. An incredible opportunity sits in front of us to be able to serve people with excellence. Make sure you take this time and reconsider what you want to accomplish because we are in a unique time to serve a lot of individuals. Our lead flow is up. We have incredible conversations every day with our callers, acquisition managers, and disposition managers. Everyone in our team is having great conversations with individuals. Keep that in mind as you are here.
The next thing is I want to give you three tips and think about this. What it is that you can do now? What is our business doing to make some pivots and make sure that we are doing everything we can to keep business consistent and steady during this time? More importantly, how these consistent action items will grow your business and make your business better than what it’s been over the past couple of months.
Revisit Your CRM Database
Write these down. I want you to get out a piece of paper and a pen and jot down these three tips, these three action items. Once we’re done with the show, I want you to get out there and execute. Take massive imperfect action on these three tips. The first one is you have your database and your CRM, Customer Relationship Management system. I want you to think of this. Your CRM is worth more than you probably ever thought it was ever worth. It is time to revisit that database.
If you were brand new, you’re like, “I’ve been talking to people for maybe only a couple of weeks, 1 month, 2 months, 5 months or 6 months.” Some people are reading this that have been doing this real estate game for 2 years, 3 years, 4 years or 5 years. It is the time to revisit that CRM and start doing your database blast or a follow-up of individuals. What used to be a no in the past may not be a no now. It’s crucial to understand this.
People in the past might have said no to your services and may not have been interested in selling their home, but things change all the time and things are changing rapidly in the time that we are living. From this one simple tip, we are receiving another 15 to 20 leads a day by doing it in segments. We’re not going out there and following up with the whole database all one day because it would bring in way too much to be able to handle. We want to serve with excellence. We don’t want people to reach back to us, then us not be able to get back to them in twenty minutes or less.
If it’s going to take us 2 days, 5 days to get back to them, we don’t want that. That’s a disservice. We’re going through it and getting out as many contacts as we need to produce about an additional 10 to 15 leads a day. It’s crucial that you do this and look at your database if you already have one, start revisiting it and follow up with them. With the noes yesterday, last month, 1 year ago, 2 years ago, 5 years ago, things are changing drastically. It’s time to revisit it because a no back in the past could very much be a yes now and they need your help solving their problems. Be a problem solver. The byproduct is you will get contracts that allow you to purchase their home. That’s all it is. It’s a byproduct of doing service with excellence. That’s your first tip.
Reach Out To Your Cash Buyers
Your second tip is to reach out to your cash buyers and see who’s still in the game. I don’t want you to think that your whole cash buyers’ list is still in the game. Meaning you find a deal and they’re ready to go. What used to be 100, 500, 1,000 cash buyers, however many are on your cash buyers list, doesn’t mean those same cash buyers are buying deals right this second. Those are some shifts that are going on. It’s up to you to figure out are they in or not?
It’s up to you to make sure that you understand who’s in and who’s not. With your list, which many of your lists will shrink when you make these phone calls, you’re going to see a lot of them saying, “I got to wait and see what’s going on before I buy some deals.” You’ve got those that are like, “No, I am in. I want rentals and some simple fix and flips.” They’re in the game and have been doing this. They have done it through the ’08 crash and all the time. They know what to do, what to prepare for and they’re in.
There are some newer ones or someone’s who do not want to be in the game. That’s okay. Don’t let this frustrate you. It’s better to be prepared and the opportunity come versus the opportunity to come and not be prepared. It’s okay. Know which ones are out and which ones are in. If your list shrinks, which many of your lists will shrink at this time, that’s okay. It means you’ve got to put some more effort and focus on rebuilding that list with the people that are in the game.
You can’t grow a business by pumping the brakes. You must push on the gas, and marketing is the gas.
If you went from 500 down to 200 or from 100 down to 25, which I’m making these numbers up, it’s time to revisit building that cash buyers list, find those that are still in the game and reach out to them. It’s crucial. Build that list. It is the time to know who’s in and out. Rework that list and build it back up to a strong list of cash buyers that are in the game in this market.
Get Into The Web: Facebook, PPC, SEO
The number three is the web. I look at it as a number. If I hold up three fingers, it makes a W. That stands for Web. It’s because there are three pillars when it comes to the web. You’ve got Facebook, PPC and SEO. If you’re getting in the game like, “I don’t do any web,” here’s the thing. SEO is probably not the first place to start investing because SEO is more of a long-term play. That’s something that could take you 3 or 4 months to get from page 100.
If someone googles your company and you’re on page 100, you want to be on the 1st page. It’s going to take time. It could take 5 months, 6 months, 12 months or 15 months. We don’t know. That’s one of those things that depending on what market you’re in can take time to work your way up that list. What’s crucial is if you’re going to get into the web like in Facebook, PPC or SEO.
My favorite for getting leads is going to cost a little bit more, but they’re also going to be a lot more qualified and a lot better leads. Our ROI is probably through the roof in this one area more than any other area and that’s PPC, the Pay-Per-Click. If you don’t know how to run that, that’s okay. I didn’t either and I’m not a person that’s going to go out and figure it out. That’s not my area of expertise. I’m not going to jump into this. What I did is I simply found the best. I’ve gone through multiple people. If you go back to the episodes, we had one where I did an interview with an individual. His name is Brandon Bateman. He talks about PPC, the pros and cons, what you should be looking for, and what about the ad spend you should be looking at.
This is a time to be on the web and either be looking at Facebook, PPC, SEO or all three at the same time. Most people are sitting at home. It’s the time that when they’re googling, they’ll find you and when they are on Facebook, they’ll see you. Here’s the interesting thing. I was talking with Brandon, who runs our stuff, saying, “What are the pros? What does it look like?” He says, “Cody, the good thing is the cost-per-click, the cost-per-lead is going down.”
A lot of people are hesitating and a lot of businesses are pulling out of their marketing. I will tell you, for our business, real estate and finding deeply discounted properties, it is not the time to push on the brake. It is time to accelerate and push on the gas. You can’t grow a business pumping the brake. You must push on the gas and marketing is the gas. Make sure that your marketing is going out and going out strong.
I want you to think about this. What are you doing every day to market? Marketing is what allows you to have great conversations with people. Great conversations lead to great appointments. Great appointments lead to great offers or putting the offer out there. Great offers lead to the contract, which leads you to be paid. Where does it all start? Marketing. If marketing isn’t going out and you’re looking at yourself like, “My business has shut down,” when was the last time you sent out marketing? How long has it been? If marketing isn’t going out every single week, it’s going to hurt your business.
Make sure marketing is going out every single week. It has to go out every week. If not, you’re not having conversations weekly. If you’re not having conversations weekly, you’re not having appointments, not making offers, not getting contracts and not getting paid. It starts with your marketing. Marketing weekly leads to all the other things happening weekly as well. You’ve got to be in the game. This is the time to put on that jersey. Don’t sit on the sidelines and cheer from the crowd. It is the time to place that jersey on your body and get in the game.
Real estate is here. It is a great time to be in it. Our leads are up. With these three simple tips, go back to your database, do a follow-up blast, reach out to your cash buyers, see who’s in and who’s out of the game and then do some web. Get that going. Start thinking web. Web’s growth is going to be a huge area over 2020. This is our biggest area of focus for growth because it’s our best ROI. It’s been incredible. I want you to think about that.
Simply create more than you consume. It is not the time to consume what the news is saying. It is the time to create a better version of yourself, develop yourself, ready yourself, skill up and get ready for the future. Don’t hide from the future and allow this to take you off track. It is the time to see what you’re made of. The world needs leadership and certain people, people who have conviction behind them and people who are working on themselves.
The ones that are going to do the best during this time are the ones that don’t forget to work on personal development because your income will rarely exceed your level of personal development. If it’s been a while since you’ve worked on yourself, it is time to push reset. Get going. Real estate is an incredible time. I want each one of you to understand that here at Wholesaling Inc, we’re doing everything we can to make sure that those right there are on the fence post thinking, “What am I going to do,” it is time to consider getting into real estate.
With our program here, we have made it to where most people, if not everyone reading to this budget, can make this work. We want to work with those that are out there, ready to go. It may sound like I’m trying to sell some of this but it’s because I’m so passionate that I want you to understand we’re here to serve, help, lead, guide and instruct you. If you’re looking to get into real estate and you know that it is the time, I want you to head over to www.WholesalingInc.com. Fill out that short little application, hop on the phone with my team and begin to have the conversation.
It’s nothing to be afraid of. You’re going to see individuals on the other side of that phone serve you with excellence and let you know what it’s all about to see if it’s a great fit. If so, let’s get you in the community taking the correct action. Let’s get that jersey on your body and get you in the game so that you don’t have to cheer or watch from the sideline. You’re going to be ready to serve a ton of people that are going to allow you to get a ton of contracts in this time.
We think about each one of you. We’re grateful for Rhino Nation and our faithful audience that leaves amazing reviews and everything going on. May God bless you during this time. Get out there. Take massive and perfect action. It is not the time to sit. Act on these three tips and you’ll see your business grow.
More importantly, if you’re needing that help, we’re here. We have made it to where most people’s budgets are going to be able to afford this coaching program which is the number one real estate coaching program in the nation, helping you find deeply discounted properties. Head over to www.WholesalingInc.com. Fill out the app and we’ll talk to you on the other side. God bless you. We’ll see you in the next episode.