Are You Quitting The Last 41 Miles Of Your Note Business?

note business raceI wonder how successful a Daytona 500 driver would be if they just quit the last forty-one miles?

I mean, go full-out, committed the first 459 miles, and then stayed in the pits while the people on the track completed the last forty-one miles.

It is kind of the way I look at the month of December for the Note Business.

It is so easy for me to get distracted between Thanksgiving and New Years that I often write off the whole time.

The fact of the matter is that if I “check out” from Thanksgiving until after New Years day, I will have been totally unproductive roughly 1/12 of my entire year.

I can justify it a multitude of ways…

  • Well, I should just enjoy the holidays.
  • No one else is really working anyway.
  • I deserve a break.
  • It is too cold out.
  • McDonald’s has the McRib Sandwich.

The excuses can get lamer as the internal dialog continues on.

The fact of the matter is that if you are running your own business or trying to get ahead financially, you really can’t afford to take off for the entire month.

As I see it, the month of December has three types of people (and action plans) in the note business…

1. You are still getting started – Maybe you have not closed a note deal yet.

You are still reviewing your marketing materials, getting the word out, etc., etc.

During the build phase it is imperative that you keep moving forward – no matter how small the daily actions or steps. It really is the classic,

“Objects in motion tend to stay in motion. Objects at rest, tend to stay at rest.”

You really can’t argue with physics.

If you stop, even for a month, you will most likely not start back up. Particularly if you have not yet realized the financial benefit of getting some deals under your belt.

Your December: Review 2013. What have you done? If you have not done a couple of note deals, why? What was your barrier?

If the phone is not ringing then the first step is to review your marketing. You don’t need to spend a lot of money. You might have a note website or work with referral sources.

Back to basics is always a good start. But it doesn’t matter how good you are on the calculator or if you can fill out a worksheet. If the phone is not ringing, December should be about marketing*

*Remember, if you own Finding Cash Flow Notes, in addition to all those marketing videos, there is actual content you can download and use as your own. Just add your business information and you are good to go!

2. You need a good Jan/Feb. – You might have made some progress this year on your plan (brokered a deal or bought your first note)

In the note industry there are two types of people. Those that have money to buy their own notes and those that need to broker all or some of the notes, using the money of other note buyers and investors.

Either one is fine. If you are in the latter, than your income is subject to finding more notes. Whereas an investor has other ways to continue to make money.

The broker side of that coin really needs to maintain ground. Keep the marketing working. Because if you don’t, it is not just December you are taking off, it is also January and part of February.

Why? Because there is nothing in the pipeline to start the next year off right.

Your December: Keep the machine oiled. Sure, stop and smell the pumpkin pie, but also keep whatever you have in play…well…in play.

Here is the great part. A lot of your competition will be taking the month off. Keep your marketing going and you should get a bigger spike in Jan/Feb than the others.

The beginning of the year can be great business – especially as those holiday bills pour in.

Market now…enjoy a great start to 2014.

3. Ok, you made it. – Maybe 2013 was a great year for you. You brokered a few notes, added to your own portfolio, and have some income coming in monthly.

You have certainly earned the right to take off a bit more time.

We tried to transform our business to more of an online model (using websites, online trainings, and social media referrals), which has allowed us to travel.

As I write this, we are spending the holidays in Nicaragua. Two months in all*

*Which reminds me, please send 238,392,189 air conditioners to Nicaragua. It has been hot here!

Even though we are traveling…ok, completely out of the country…we are still working.

I think it is a good mix between enjoying life and maintaining a foot in the workforce. I don’t’ think I could ever quit working. Ask me again when I actually have enough money to retire, but working keeps you young.

Your December: If you have an established business and are comfortable with 2013’s results…by all means, take some time off – you have earned it.

If you can, keep an ear to the ground and spend your December brainstorming ways to improve upon your progress. What went great? What did not? What can you improve?

In the end…

Yes, it is easy to throw away December. Become distracted. The holidays are in the air (not to mention the smell of holiday baking). But, like I said, most of us really can’t afford to take off the entire month.

You are in the last stretch of 2013 and what you do can dramatically impact your 2014. A little preparation now can go a long way!

It is the last 41 miles of the race. What do you want to do with them?

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