Posted on: June 12, 2020

What does your typical day look like? Do you have time to plan strategically, think of innovative ideas, and maybe do a quick audit of where your wholesaling business is and how far you’ve come? Or do you find yourself attending to lots of paperwork, urgent phone calls, and last minute meetings?

If you are doing the latter, then you are spending most of your time merely putting out fires as opposed to doing things that can help take your business to the next level. Fortunately, in this episode, our very own Cody Hofhine shared 3 simple but really powerful tips so you can simplify your business and have time to focus on the things that will move your business forward.

If you’re looking to simplify your wholesaling business so you can earn more while doing less, this episode is for you!

Key Takeaways

  • Focus only on one marketing channel at a time
  • Only change one thing at a time
  • Simply say no to more and yes to less

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Episode Transcription

Cody Hofhine:
Hey guys, Cody hofhine here with Wholesaling Inc, the number one wholesaling coaching program in the nation. I’m super excited to be with you today because I’m going to share with you three quick tips that will help you simplify your life, simplify your day, so that you can just simply grow so many times when we go through life. So many times we have too much on our plate and when we have all of these things to do and we have too much to do, really what happens is nothing gets done. So I’m going to share with you three quick things that will help you stay on track, how to simplify so that you can just simply grow your business. So let’s go to the first one, the first one, if you’re right out of the gates, or even if you are an experienced investor, I want you to only focus on one marketing channel at a time.
So what does this mean? Whether you’re a beginner or someone that’s now doing two marketing channels, so many times you hear people doing like, they’ll go to a REIA meeting, they’ll go to a meetup and they’ll hear this guy stand up or this gal stand up and they’ll say, “Hey, with our business, we just crush it. We’re doing so dang well. And it’s because we’re doing direct mail and we’re doing PPC and we’re doing cold calling and we’re doing Facebook and we’re doing referrals and we’re doing,” and so this beginner sitting there taking notes, thinking, oh man, to be successful like this individual, I’m going to have to do PPC and I’m going to have to do direct mail and I’m going to have to do Facebook. And it starts to get way too much. So I want you to think about this, one marketing channel at a time.
Is it okay at some future point to add other marketing channels? Yes, but I want you to think of something. When listening to these individuals, so many times, and I think this is the enemy’s biggest weapon to kill entrepreneurs and that is we start to compare ourselves. We start to compare our beginning with someone’s end, or we compare our beginning with someone’s middle. Quit comparing your business with someone that’s already doing it and killing it and crushing it because you’re not in that place. They had to start at the beginning. And the reason why that individual’s up there and why they’re crushing it now is because they simply did this process. They simplified their business and they only brought on one marketing channel at a time, really honed in on it. Got it going really, really good. Got a process in place, got a system in place. And then, only then, did they bring on the second marketing channel.
And it starts all over again. So while this marketing channel is going, has a system and process in place, now they’re bringing on their second marketing channel and they start to put the system and the process in place. Once that’s in place, and only that in place, they bring on the third marketing channel that allows them to do the same thing. So we’re growing just one marketing channel time. That’s the number one.
Tip number two, you ready? Is, there are so many things that you’re going to try as an entrepreneur that are going to fail you. They’re going to be things that it’s like, ah, how I just did that just totally messed up. It didn’t work. It didn’t work right. I want you to think of this. When something happens like this failed you, you or someone says no, does it mean quit?
No, it doesn’t mean quit. It just means we have to look at it from a different angle. We got to approach it from a different angle. We got to approach it a different way. So think about that as you bring on and you do different things in your business, you’re going to learn that entrepreneurship is not always the happiest unicorns and rainbows. It throws jabs at you all the time, but it doesn’t mean that you’re doing anything wrong. It just means the way you’re attacking it might be wrong. But if you do it from a different approach, it will work. So the second one, are you ready for this? Is, only change one thing at a time. So many times we get it into a rut and all of a sudden you start to think, well, maybe it’s my marketing and maybe it’s my acquisition managers not working hard enough.
And maybe it’s because we’re not sending out enough direct mail. And maybe it’s because we don’t have any cold callers so let’s bring on cold callers. And what happens is you start to change your whole business, not just one thing at a time, you start to bring on two, three, four, five, changes all at once thinking if I can just do all of this right now and work out at the same time, hopefully my business will grow. And maybe that will work, maybe, but it’s a very slim chance. The real way of doing that is only change one thing at a time because here’s the thing, as you’re going through your business and trying to find what works, if you bring on three things at the same time to make this change, and it’s like, okay, I’m going to bring on a different acquisition manager.
I’m going to bring on cold calling. I’m going to bring on this. What happens is when something works right, what was it? Was it the first thing you brought on? Was it the second thing you brought on? Was it the third thing you brought on? Was it a combination of two of the three? Was it all three? Or to the opposite, if something goes wrong and you’ve brought on three things, three changes, three unique changes to your business. You brought on three things and something goes wrong. What is it? Was it the first thing you brought on? The second thing you brought on or the third thing you brought on? Or was it two of the three or was it three of the three? Sometimes our mind will be like, oh, none of this worked and you start to throw away at all. Well, maybe it’s only two of the three didn’t work, but one of them was really, really working.
But if you bring a change, any kind of change you’re doing your business, if you’ll just do it one thing at a time, like a sniper shooting one bullet at a time, if you can bring on one change at a time, you’ll now know if it doesn’t work, you already know where to put the blame. This doesn’t work, cast it out. Or if it does work, you know now where to give the credit to. You can now say this worked, this is going to go for me. So one change at a time.
Ready now, tip number three. The final tip is to simplify your life you have to simply say no to more and yes to less. As an entrepreneur, I’m going to tell each one of you guys, this will happen through out your lives. Now that you’re starting to gain traction, you start to gain success, you’ll start to get the squirrel syndrome, right? Where you start to like, squirrel. Everything’s an opportunity. You have all these people saying, “Hey, now lets get into apartments. Hey, now let’s get into mobile home parks. Hey, with that money, you could reinvest it and lend it out at 12% and two points.” And you start to hear all these opportunities. And if you say yes to every one of those options, even though those opportunities all may be good opportunities, when you say yes to all those opportunities, you start to cut yourself thin and you will see your wholesaling business dip, and dip big.
All that traction that you’ve been busting your butt off and busting your tail off for is going to start to go down. So you got to make sure that if you’re going to take on another opportunity, it passes what I call the GBB method. Good, better, best. Okay. If you look at it, you’ve got to run it through the GBB method. So what I’m saying is, if someone says, “Hey, I’ve got this apartment deal. I need X amount of dollars to put into this.” And you’re listening to the opportunity. Now you’ve got to look at it and say, “Okay, my money, I need it to do this. I could use it to do this.” And so I run it through the GBB. Is this a good opportunity, is it a better opportunity, or is it the best opportunity? If it’s not the best opportunity, notice that two of the three is just good, better, most of them will fall into this category. You’ve got to say no if it falls in that category.
If it’s a good opportunity and a better opportunity, cast it aside because it’s going to kill your business. You’re only going to act on the opportunities that are the best opportunity. So back to the whole entire point of tip number three, say no to more and say yes to less. You’re not going to say yes to a lot of opportunities. The people that succeed and the people that really skyrocket their business, their future, their income, their level of who they become. It’s not right because they say yes to a lot of good opportunities, it’s because they say no to a lot of opportunities and say yes, to just a fraction of those opportunities. If you can keep these three tips in mind, it will help simplify your business, simplify your life, but ultimately grow your business and grow who you want to become, the income you’re looking for and the individual you’re looking to become.
Because this podcast won’t do anything for you unless you take action. Just listening to it and feeling good won’t do anything for you. You’ve got to get out there and take massive imperfect action. If you’d like our help on helping you build that successful wholesaling real estate business, head on over to www.wholesalinginc.com and book your call today to begin that conversation to see if it would be a good fit. Until next time, get out there and take massive imperfect action and we’ll see you on the next show. Take care.

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