Life is a numbers game. Like in dating, when youre 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 youll 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. Dont 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.
Theres 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
- Quality > Quantity. Dont just grow for growths 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.
- 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.
- Fill the funnel! If youre just starting out and arent 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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