Cash Flow Expo is only one week away but before we get into any of that we have to ask you a really odd question…
…Do you remember as a kid spending hours carefully stacking dominos one after another in a row until at some point you knock over the first one and watch them all fall down?
I would spend hours setting it up.
Later, as it got more ‘advanced’ you would incorporate other objects; have dominoes fall off tables and chairs, slide across a plate, even flip a light switch.
But the concept was always the same…
…knock over one domino and the rest fall.
If you are not familiar with the book ‘The One Thing’ by Gary Keller we highly recommend checking it out.
The premise of the book revolves around one central question…
“What’s the ONE Thing you can do such that by doing it everything else will be easier or unnecessary?”
Initially, I have to admit, this sounds incredibly simplistic (like the 4-hour Workweek or dropping 5 lbs. after the holidays).
But there is merit to this.
First off, no, you really can’t trace EVERYTHING back to “One Thing.”
You might have a “one thing” for each area of your life. One for your business, love relationships, physical goals, spiritual life, and organization goals.
Enter the note business.
Let me take the liberty of changing Mr. Keller’s question for a moment to fit our needs…
“What’s the ONE Thing you can do in your note business such that by doing it everything else will be easier or unnecessary?”
Now, of course, this really depends on WHERE you are in the note industry.
Are you just starting out?
Have you done a few deals and are wanting to get to the next level?
Are you a seasoned investor looking to transition to more passive income?
WHERE you are certainly has an impact on YOUR one thing.
For example, if you are just starting out you get caught up in all the newness of the industry.
People spend time coming up with a business name, logo, website, stationary, learning the calculator, learning to negotiate, and learning the closing process.
In reality, NONE of that matters until your phone rings and someone has a note.
So, YOUR one thing is to get the phone to ring.
Now, how do we get the phone to ring?
We need to market ourselves and our business.
Yes, we need a company name.
Yes, we need a website.
…and BOTH of these things feed the one thing…GET THE PHONE TO RING.
Because when the phone rings the second half of that sentence kicks in…
“…everything else will be easier or unnecessary”
Someone will always help you with the calculator when you have a deal.
Someone will always help you close a file when you have a deal.
Someone will always help you negotiate when you have a deal.
Everything becomes easier, in this case, when the phone rang with a potential note seller.
Of course, you SHOULD learn how to calculate cash flows.
Learn the note business.
Learn how to negotiate deals and build a self-directed IRA.
But remember to stay predominantly focused on your One Thing…I guarantee you will like the results.
Not sure what your One Thing is at the moment? Shoot us an email…we will be glad to help you out!
All the best,
Fred and Tracy
P.S. Cash Flow Expo is ONLY ONE WEEK away! If you have not claimed your FREE TICKET, just click here or on the banner below!
Leave a Reply