Every business and every life has peaks and valleys. The peaks are the high times, the times when you’re encouraged and riding high. The valleys are those times when things are not looking as good, when you’re discouraged or frustrated, or lacking confidence. What can you do to ride those peaks and valleys with more stability and happiness, internally and as a business? That’s what Mark Evans, DM, DN is going to share with you in this episode of The Real Estate Power Hour.
The first step to enjoying the peaks and valleys of business.
If you’re going to learn to enjoy the peaks and valleys that naturally come with owning and operating a business you’ve got to accept that the peaks and valleys exist and will continue to exist. You can’t get rid of them. There is no way to control every factor that goes into the creation of those ups and downs, but YOU can change, YOu can learn how to ride the ups and downs with confidence and courage. So accept that the peaks and valleys are going to exist and begin learning how to make the changes in yourself and in your business that will enable you to enjoy the ups and downs.
One of Mark Evan’s favorite sayings is, “Data not Drama.” He firmly believes that the data, the numbers, the facts about your business are what will give you direction. Data can give you encouragement. Data can give you optimism. Data can give you confidence. But only if you take the time to learn what the data means and how to use it effectively. In this episode of The Real Estate Power Hour Mark is going to show you how to use the data surrounding your business to make projections about future income and expenses, which in turn will enable you to bolster your confidence and move ahead aggressively to make those projections a reality.
Step three to enjoying the peaks and valleys: Focus on your existing investor relationships to increase your profitability.
Every investor you come in contact with and eventually do a deal with is a potential gold mine of future opportunities. But you’ve got to know how to foster that relationship and build rapport in a way that will motivate them to do more deals with you. That is one of the most important skills you can develop to increase your profitability; more than sending out more mailers and more than finding a new investor. Mark Evans knows. He’s learned the hard way that protecting and nurturing existing relationships with active, motivated investors can double or triple the bottom line. Find out more on this episode.
Educate yourself: Step four to enjoying the peaks and valleys of your investing business.
Remember, nothing is going to make the peaks and valleys go away. That’s not your goal. Your goal is to learn how to maximize your opportunities in spite of the peaks and valleys. That requires that you grow, that you learn, that you educate yourself in the ways to use the data to amplify your business efforts. Listen to this episode as Mark Evans shares more tips on how to make the most of the up and down cycle that every business experiences. He’s got lots of hard-learned lessons to share, lessons that can help you turn your business around, get it off the launch pad, or move it into a whole new level of profitability. That’s on this episode of the Real Estate Power Hour.
OUTLINE OF THIS POWERFUL EPISODE
- [1:18] Could you take 2 minutes of your life to leave a genuine review on iTunes?
- [3:00] Picture yourself in Hawaii, seeing all the peaks and valleys of the mountains. It’s beautiful isn’t it? We need the peaks and valleys.
- [4:35] There is no way to avoid the peaks and valleys. People who tell you there are, are trying to sell you something.
- [5:30] There are different types of peaks and valleys.
- [6:26] Begin thinking independently about your peaks and valleys, learn to assess each for what it is.
- [7:22] The importance of beginning to pay a salary to yourself. This helps separate you from the business so you can have a life.
- [9:14] What’s inside your bank account dictates your emotions, it’s a financial thermostat. Push that number upward and you’ll act differently.
- [11:04] Accepting the reality of peaks and valleys and making projections will help you push through the peaks and valleys.
- [12:47] An upcoming live training: Real Estate Phone Power.
- [15:22] How to take away the frustrations of the peaks and valleys.
- [16:03] Using the numbers and timeframes to balance out the emotion of the peaks and valleys.
- [20:07] Becoming conscious of the conversations you’re having with your motivated sellers. This can double your response rate!
- [21:28] Building relationships with investors is a powerful source of ongoing deals.
- [24:00] The peaks and valleys change the more you educate yourself. It depends on how you work to get smarter as a business owner.
- [25:58] Creating layers in your business to mitigate the peaks and valleys: Using projections and adding staff.
- [29:00] Your business will grow faster by getting yourself out of it.
LINKS MENTIONED IN THIS GREAT EPISODE
www.RealEstatePhonePower.com – Mark’s new 4 hour training.
www.TheRealEstatePowerHour.com/contact – Contact Mark about the “Hot Seat” or anything else.
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