Posted on: October 23, 2020

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!

Key Takeaways

  • What gets in the way of wholesalers taking action
  • What to do when you hear a tip or gold nugget
  • Why it’s crucial to just go out there and take massive imperfect actions
  • How to deal with the “what ifs”
  • What to do when you encounter roadblocks

RESOURCES:

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Episode Transcription

Cody Hofhine:
Hey guys, Cody Hofhine, with Wholesaling Inc., the number one wholesaling coaching program in the nation. I’m excited to be with you today because we’re going to break down something that kills most wholesalers, and that is the information overload or analysis paralysis. Now, everyone knows what this is because it’s so easy. Now, here I am with a YouTube channel, we have a podcast, we have something that’s giving content out all the time, giving you little bits of information, instruction that you take. But the goal behind having this YouTube channel, the goal behind the podcast is that every time you listen, that you’re actually taking action. If you get caught, and I want you to call yourself out, you know that obviously I can’t hear you but I want you to really think about this.
As you’re listening to our podcast I want you to ask yourself, are you taking immediate imperfect action, knowing that you don’t have all the answers knowing that 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 in what’s called that 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, after video, after video.
And if you do this too much here’s the thing, you start to learn a trick to get out there and do and then 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. And after that video you sit there and think, “Oh no, so 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, find someone that you jive with, that connects with you, that is, speaks your language and go out there and keep it vanilla. 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 and more videos, more and more podcasts and you never take action, you can fall into this deadly, you might as well call it cancer, and that’s analysis paralysis. Don’t do this to yourself. So what I want from you is every time you hear a tip trick and golden nugget I want you to jot it down, something that you’re not currently doing. I want you to jot it down and 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, you won’t know what’s going to happen, 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 as like a car. Think about the car headlight. You’re driving at nighttime and let’s say your destination, and let’s tie this into wholesaling, let’s say our destination for wholesaling is to do your first wholesale deal, that’s the destination. Now it’s tied to a car. 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. But what the car allows us to learn is 300 feet in front of us the light is going to hit. So 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. And 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 and put your foot on the brake and let the deer go off the road and then get the foot off the brake and get the foot on the gas and keep moving 300 feet at a time.
Wholesaling is much the same. You can learn so much from this analogy. There’s so many times you can’t see around the corner. And so many times we ask these questions, but 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?” Guess what? 99 to almost 100% of the time of these what ifs, these questions that we’re running in our head over and over again actually never come to happen. They don’t come to fruition, they never take place. So we spend all this time and energy worrying about something that actually never happens.
Just get out there and go and only knowing the next 300 feet. And when you get there you’re going to see what it is you’re going to have to do, the adjustment, right? Taking 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,” what I sell at this point. At that moment, take your foot off the gas, put on the brake and sit there and think, “Okay, what is the next thing I need to do to talk to this individual?”
It’s crucial that you just get out there and take imperfect action. The person that goes out there again and takes action and fails is still so much further than the person that doesn’t take any action at all. So get out there, don’t get caught into this analysis paralysis, don’t get caught into this 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 just 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 own your own schedule. You want to live life on your terms and you want to live the life of your dreams. Whatever it is these things won’t happen unless you start taking massive imperfect action and just 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. So get out there, take action, know what it is that you’re currently not doing and go do it. And when you come up to your first roadblock, your first trial, and your first challenge, at that moment learn what it is you need to do to get past it. And as you do this you’re going to see deal flow and deal consistency go up in your business.
Guys, thank you so much for listening to the podcast today. If you’re looking for help to build your wholesaling business, head on over to wholesalinginc.com and 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 guys and we’ll see each one of you guys on the next episode, take care.

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