Are You Making the Right Real Estate Business Decisions? Find Out Where You Really Stand.
When it comes to making the right real estate business decisions, we really have only 3.
Here they are.
1. Do nothing
2. Do the same thing
3. Take a leap of faith
The first one really won’t apply to most people reading this. Because you’re an entrepreneur – perhaps a business owner, I’m guessing you’re doing SOME thing!
The “do nothing” is there for people who tell me they ‘wish’ they could start a business at a later time when the time is right.
When all the stars align and there’s no chance of making a mistake – these peeps will ‘give it a shot’.
In other words – they aren’t entrepreneurs.
With that out of the way, let’s look at the second one.
This is one of the business decisions where most of my clients fit; at the beginning of our relationship.
And it’s normal.
I even fit into this category multiple times throughout my journey. Until my coach kicks me in the ass.
Here’s where the classic “Do the same thing – get the same results” cliche comes in.
Most of us don’t like change. We are scared to fail.
So we’re stuck in this loop.
We’re unhappy with our business, our lives…yet we’re unwilling to do anything different about it.
As Einstein politely said…’doing the same thing, but expecting different results is the definition of insanity’.
The bottom line is – you MUST change what you’re doing to go beyond where you are right now.
I’m preaching to the choir here, I know, but this is for the dude sitting beside you.
On the other hand, if you’re crushing it right now – DO MORE OF THAT!
Contrary to popular motivation and coaching stuff, there’s really no need to keep adding MORE CRAP if what you’re doing right now is absolutely working.
Here’s the Catch
Sometimes we THINK we’re crushing it. But we’re really not.
So we continue to do the same thing – yet we’re not getting any further.
Here’s an example from my other business – but it gets the point across.
I ran a Facebook ad campaign. The first week I spent $171.61 in ads. My cost per acquisition was $14.30.
I still made money, because I sold products on the back end.
But I didn’t stop there.
The second week, I paid $66.63 on ad spend. This time, me CPA (cost per acquisition) was $16.66.
So I spent LESS in ads, but the lead cost me more.
Hmm, the tweak taught me some lessons.
Those ARE expensive leads. But like I said, I made up for them on the back end with product sales.
So am I crushing it? Even though I’m making money on the back end?
No. Because it’s STILL not the best I can do.
And this is the leap of faith thingy I’m talking about.
But I’m jumping ahead.
Let’s stick with this for a moment.
This week I ran Facebook ads again. The total ad cost was $69.98 and CPA was $7.78.
In my math world, that’s kinda/almost half of what I spent the first two weeks on my lead acquisition.
Dang man! That’s pretty awesome.
Can you see where I’m going with this?
Week one and two I was OK with the results because I made money on the back end.
So if I just kept doing the same thing, my CPA would probably be the same thing this week at 14-16$ each.
So I tweaked and tested.
Which brings me to the last point.
The sandbox where most are terrified to play.
Taking a leap of faith.
Of the three options, this is the ONLY one that will get you further in your business.
It will bring down your lead cost. You’ll be more productive. Expenses will be cut. You will have more customers…whatever.
But you MUST take that leap.
You have to jump without a safety net.
When people ask me “is this gonna work?”
My answer is always the same; “I think so, but let’s test it and see.”
That stops the uncommitted people right there.
So in reality, they loop back to the first choice. Doing nothing.
And when we do nothing, we GET NOTHING.
Taking a leap of faith WILL get you results.
They may not always be the positive results of mo money, mo money, mo money…
But even the negative results, like spending $16.66 for a lead push you in the right direction.
You with me?
Have an awesome day!!!