235: The Golden Rule of Real Estate and Small Business

235: The Golden Rule of Real Estate and Small Business
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Life is a numbers game. Like in dating, when you’re getting into the game, your goal is to see as many people as possible and market yourself to the dating pool. The more dates you have, the more opportunities you’ll have to find “the one”. As you continue dating, what you want in a relationship becomes clearer, and as a result, you start to see and filter out the good and bad dating opportunities that are presented to you, focusing on the quality rather than the quantity.

Business is no different. One of the best real estate investment strategies and small business approaches that I have come across is what I like to call: The Golden Rule. Don’t just grow to grow. Yes, there is a point to where you need to fill your funnel–make the hundreds of cold calls to find the one perfect customer. Get as many customers as you possibly can filling out quote requests each month to get a handful of high paying clients. Once your funnel is full though, this is when you need to start whittling down your options. Saying “yes” to one thing is saying “no” to a variety of others. Going big is great. However, a small business has the advantage of picking what to do and where to spend and invest their time and money.

There’s a nuance, but in order to choose quality, you need quantity. Take control of your business and be the professional you want to see in your business. Have that wide net and then filter out the options you catch inside.

Three Key Takeaways

  1. Quality > Quantity. Don’t just grow for growth’s sake. However, to choose quality, you still need quantity. You still need to make 500 cold calls to find that one self storage facility. You still need 100 customers a month filling out a quote request to get new high paying clients. There is a balance.
  2. There is nothing wrong with small business. Staying small gives you the advantage of staying nimble to where one good deal could change your life, and you can stop doing deals if there are no good ones to be had.
  3. Fill the funnel! If you’re just starting out and aren’t necessarily clear on your focus, take as many opportunities as you are given. Once that funnel is full–once you have that North Star that gives your business direction, this is when you can start focusing on quality over quantity. Once that funnel is full, be careful where to spend your time and money.

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I started the Sweaty Startup in December of 2018 because I believe the Shark Tank and Tech Crunch culture is ruining the real spirit of low-risk entrepreneurship. 

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