If you’re like most wholesaling newbies, you’re most likely spending so much time gathering information as opposed to taking massive imperfect actions. The problem is many are too cautious to make a move without ensuring they have all the bases covered.
While this can seem like the sensible thing to do, it actually only leads to one thing: analysis paralysis. While unfortunate to note, many people fall into this trap. As a result, they stay stuck. It is crucial to remember that when you don’t act and you don’t take any chances, you’ll not get anywhere or accomplish anything.
In this episode, Wholesaling Inc.’s Cody Hofhine shared how to combat analysis paralysis so you can get out of the rut, accomplish your business goals, and get ahead of the pack!
How to Avoid Information Overload and Become an Unstoppable Real Estate Wholesaler!
I’m excited to be with you because we’re going to break down something that kills most wholesalers, and that is the information overload or analysis paralysis. Everyone knows what this is because it’s easy. Here I am with a YouTube channel, a podcast, and something that’s giving content out all the time, giving you little bits of information, instruction that you take. The goal behind having this YouTube channel and podcast is that every time you listen, you’re taking action. If you get caught, I want you to call yourself out. I want you to think about this.
As you’re reading, I want you to ask yourself, are you taking immediate imperfect action knowing that you don’t have all the answers and you don’t know exactly what it is that’s going to happen and what’s the result of this action? Do you go out there anyway and take that action? If not, it’s easy to fall into what’s called analysis paralysis. It is so much better the person that gets out there and takes action versus the person that’s still stuck at home, sitting on the couch, watching video after video.
99% to almost 100% of the time, the what-ifs running in your head over and over again never come to happen.
If you do this too much, here’s the thing, you start to learn a trick to get out there and do it. All of a sudden, you get caught and it says, “Next video.” It’s going to teach you about something and it happens to be the same topic, and now it’s a different tip and a different way of doing it, a different strategy. After that video, you sit there and think, “Which one is it? Is it this way or is it this way? Which one should I do?” That’s why it’s crucial to find someone you love and you jive with that connects with you and speaks your language, and go out there and keep it as vanilla as possible, and get out there and take action on what that individual is sharing with you.
If you get out there and start listening to more videos or podcasts and you never take action, you can fall into this deadly cancer, and that’s analysis paralysis. Don’t do this to yourself. What I want from you is every time you hear a tip, trick and gold nugget, I want you to jot it down. Something that you’re not currently doing. I want you to immediately take action on that item that you jotted down. It’s crucial that you do this. It’s also important to realize that you won’t know all of the answers, what’s going to happen and what’s going to be the result, but you’ve got to act out in faith and get out there and do it.
I want to compare it to a car. Think about the car headlight. You’re driving at nighttime. Let’s tie this into wholesaling. Let’s say our destination for wholesaling is to do your first wholesale deal. You’re driving at nighttime and your destination is 10 miles down the road. Is it possible to already see your destination with all the turns and all the highs and lows of the valleys 10 miles away? Is it already visible to see your 10-mile-away destination? No. Is it possible to see what all is going to take place, what’s all going to happen when you start wholesaling to get your first wholesale deal to get to that destination? No.
What the car allows us to learn is 300 feet in front of us, the light is going to hit. For the next 300 feet, you’re going to know exactly where you’re going as you’re driving and you get to see that 300 feet in front of you. Do you get to see what’s around the bend? No, not until you get to the bend and you start turning. Maybe you turn around that corner and there’s a deer standing in the road. At that moment, that’s when you adjust. Take your foot off the gas, put your foot on the brake, and let the deer go off the road and get the foot off the brake, get the foot on the gas, and keep moving 300 feet at a time.
Get out there and go only knowing the next 300 feet. When you get there, you’re going to see what it is you’re going to have to do.
Wholesaling is much the same. You can learn so much from this analogy. There are so many times you can’t see around the corner and many times we ask these questions, “What if? What if I go out there and someone yells at me? What if I go out there and they’re going to be like, ‘No, I’m offended. Why would you offer me something so low?’” 99% to almost 100% of the time of these what-ifs, these questions that we’re running in our head over and over again never come to happen. They don’t come to fruition. They never take place. We spend all this time and energy worrying about something that never happens.
Get out there and go only knowing the next 300 feet. When you get there, you’re going to see what it is you’re going to have to do, the adjustment. Take your foot off the gas, put it on the brake, and let the deer get off the road. Maybe at that point, someone tells you, “No way will I sell at this point.” At that moment, take your foot off the gas, put on the brake, sit there and think, “What is the next thing I need to do to talk to this individual?” It’s crucial that you get out there and take imperfect action. The person that goes out there and takes action and fails is still so much further than the person that doesn’t take any action at all. Get out there. Don’t get caught in this analysis paralysis and information overload.
Do yourself a favor. Whatever it is you’re trying to accomplish in life, maybe you’re getting into wholesaling because you were like me, you aren’t passionate about where you’re currently at and it’s not fulfilling what you want to accomplish in life. Maybe you want to quit the 9:00 to 5:00 working for a boss and you want to have your own schedule. You want to live life on your terms and live the life of your dreams. Whatever it is, these things won’t happen unless you start taking massive imperfect action and see the next 300 feet in front of you. That’s it. You won’t see the full destination, you won’t see all the what-ifs, and a lot of times those things never even come to pass.
Get out there, take action, know what it is that you’re currently not doing, and go do it. When you come up to your first roadblock, your first trial, your first challenge, at that moment, learn what it is you need to do to get past it. As you do this, you’re going to see deal flow and deal consistency go up in your business.
Thank you so much for reading. If you’re looking for help to build your wholesaling business, head on over to WholesalingInc.com. That’s where you can book a call with our team and be able to talk with our team members and find out if it is a good fit for you guys to be in the tribe. Thank you so much. We’ll see each one of you guys in the next episode. Take care.
- YouTube – Cody Hofhine
About Cody Hofhine
Cody Hofhine is the founder of Investor Grit and Utah Sell Now. A few years ago, he was selling insurance. He liked what he did and made a decent living doing it. One day back in 2015, he was introduced to Wholesaling Real Estate. People in his area were making a fortune doing it so he got curious and decided to jump in. He made a TON of mistakes but he was committed to making it work…and he did!