Do you know why rich and successful people were able to get to where they are? It’s because they understand the distinction between investment and spending—not just money but time.
In this insightful episode, Brent Daniels discusses how you can turn time spent on activities for entertainment or leisure—partying, worrying or just laying around—into time for investing in yourself. He gives actionable steps like using social media channels for networking and value creation. He also shares a way to divide your time so that you, too, can get ahead in the game.
Spending Vs Investing – The Difference Between Those Who Succeed and Those Who Fail at Wholesaling
Spend versus invest. Spend is to use up. You spend it, it’s done, it’s gone, it’s used up. Invest is to bring meaningful results. This is incredible. You wonder why certain people get ahead. Certain people that are probably no less than you and take more action without even thinking than you but somehow they’re successful. You’re like, “How did that guy? How did that girl? How did they get successful so fast?” It’s because they know the difference here between spending and investing. I’m not talking about finances. There’s some financial that goes into that but I’m talking about the time. Let’s look at this simple breakdown here.
Spending time with your job to pay your bills and watching TV, “What’s the best show to watch?” That’s fine. Everybody needs a little bit of downtime, release and escapism to feel that your life isn’t boring and it’s regimented. We need this as humans. We need to be able to be flexible with some action in our lives and entertainment. That’s fine. Partying, you’re in your twenties, you’re going, you’re having so much fun. It’s Thursday, Friday, Saturday, all of it, partying, going out, having fun. Doing work during the day? Play at night. That is just spending time partying. That’s certainly not an investment. I get it but think about it, where do you want to go and how fast do you want to get there?
Time Management: Leaders read books as an investment, and they sleep instead of partying. It’s a crazy concept, but it will get you to where you want to be much quicker.
The fact is there are a lot of people that are under 30 that want to be millionaires before they’re 30. There are people that are under 40 than want to be a millionaire before they’re 40. All of this thing, where are you spending your time? I’m going to show you the difference. There is a complete flip of the coin here when it comes to investing.
Social media, are you going on there, commenting and getting into bickering wars with strangers? Are you going in there and maybe it’s friends that you’re bickering with or whatever else whether it will be political, money, a book is better than that book, whatever it is? Are you going on there and you’re constantly getting into a black hole of commenting, going back and forth, all of a sudden, it throws up your mindset? Be honest.
Are you going on there flipping through things? TikTok is amazing. You get on TikTok and you’re like, “People are talented, funny and exciting,” and then all of a sudden, it’s an hour and a half later, it’s fine. Did you invest enough of your time to hit the goals that you want? Remember, clarity creates energy. Spending here, it’s all used up. This takes energy. It uses you up.
Are you investing your time worrying? This one is huge. When it was 2009, ’10, ’11, that was the most worrying time in my life. The market had crashed. I had foreclosed on five properties, have a judgment against me, I’m living downtown over a tiny little one-bedroom apartment and it was so much worrying going on.
Clarity creates energy.
“How do I get out of this? What do I do?” How much time are you spending worrying and then lying around? It’s amazing to me how much time is lying around doing nothing. Let’s look at the other side, investing, building your business. What do you want people to say about you as you mature, as you get older? “She’s a great businesswoman, incredible, on fire, went crazy. He went crazy. He started doing this real estate thing young and started building his business and now it’s incredible. He got everybody around him and he’s got a great business.” Building your business. You’re not getting this in your 9:00 to 5:00.
Books, investing in good quality instruction, good quality education in your books. Why do people say that leaders are readers? Book, it’s an investment. Instead of partying, you sleep. It’s a crazy concept but it’s going to get you where you want it to go faster. You want to party but it’s going to get you where you want to go faster. As a side note, if you’re a business owner and you’re putting on your Instagram, Facebook and everything else, you’re partying, getting blacked out, drinking and going crazy, it’s going to prevent people from investing in you. You want to go do that and show everybody that you could pop bottles, have a nice time and buy a table or something. It’s going to prevent people from investing in you financially.
Time Management: If you put on social media that you are partying, getting blacked out, drinking, or going crazy, it will prevent people from investing in you.
Social media, are you using it to network, create content, provide value? Are you just sitting there and using it for entertainment? Confidence is the opposite of worrying. Isn’t that exciting? How do you get confidence? You start using that thing called courage and taking action. You start having quality conversations with distressed property owners. You start going through, failing forward, getting little wins every single day. You stop your car in front of a house that looks distressed, you get out and you go knock on their door, build enough that experience, confidence and then exercise. To keep that energy and clarity, you got to exercise.
We are built to move and for all of these little white blood cells, red blood cells to be flowing around, everything is going and moving as opposed to lying around getting that exercise. This is an investment because you don’t want to be the guy or gal that builds up to something and starts having health problems later. Not because it’s a DNA type of thing but because it’s something that you can control. Exercise invest versus spend. That is the difference.
How much are you spending and investing? I highly encourage you 30 hours. Twenty hours a week in your business, fifteen hours of that is lead generation. That’s picking up the phone, calling. That’s knocking on doors, texting. That’s whatever you need to do to generate leads. Five hours for lead follow-up, going on appointments, selling your deals. That’s twenty hours and the other ten hours is networking.
Confidence is the opposite of worrying.
The other ten hours are posting to social media. Telling people about what you’re doing and how excited you are about it. The other 10 hours is reading an hour a day, 30 hours at 168 hours and I am telling you that is the difference between the millionaires and the people that aren’t. That’s the difference between people that are financially free and aren’t. Thirty hours a week.
Time and time again, the people that are investing 30 hours or more some people go crazy and go even more than 30 hours. Find the 30 hours where you can invest in your week and you’re going to win. If you are interested in joining the most proactive group in real estate investing, it is the TTP Program. Go to WholesalingInc.com/TTP, scroll down, check out the hundreds of testimonials, what the program is about. If it feels good in your guts then sign up for a call. I look forward to working with you personally.
About Brent Daniels
Brent Daniels is a multi-million dollar wholesaler in Phoenix, Arizona… and the creator of “Talk To People” — a simple, low cost, and incredibly effective telephone marketing program…
Also known as “TTP”… it helps wholesalers do more, bigger, and more profitable deals by replacing traditional paid advertising (postcards, yellow letters, bandit signs, and PPC) with being proactive and taking action every single day!
Brent has personally coached over 1,000 wholesalers enrolled in his “Cold Calling Mastery” training, and helped 10,000’s of others who listen to him host the Wholesaling Inc. podcast, watch his YouTube channel, and attend his live events…
A natural leader, Brent combines his passion for helping others with his high energy, “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!