In this awesome video podcast episode, we’re kicking things off with Part 1 of a terrific 3 part series that’s bringing everything back to basics…
Today’s great video podcast is all about keeping things simple and focusing on just 1 thing at a time. Stop trying to do it all, all at once. It doesn’t work.
Instead of being a Jack-of-all-trades and a master-of-none, I’ll walk you through why and how you should become an expert in 1 area at a time. And, I go over how to delegate all the other stuff so you can really focus on that 1 thing that you do so well that’ll help bring in deals and money.
I’ll end with some step-by-step actionable things you can implement in your business – today – to help get you on the right track.
Let’s get going…
Watch and Enjoy:
Free Book Mentioned In This Episode:
- 1:45 – 3 keys to success
- 4:00 – Are you distracted? Your productivity sucks? Here’s why.
- 5:35 – A look at our productivity case study
- 7:10 – Our case studies problem and why he’s not getting results
- 8:40 – How to focus on one thing at a time – starting with postcards in our case study
- 11:23 – How to take action on getting back to basics
Get The Mindmap Here
Mentioned in this episode:
- Free Basic Book
- Google Sheets
- Matt Theriault’s Epic Real Estate Investing
- Justin Williams’ House Flipping HQ;
- Todd Toback’s No Limits
- Karl Krentzel’s Red Pill Investor
- Justin Colby’s Science of Flipping
- Sean Terry’s Flip 2 Freedom
Joe: Hey, everybody, Joe McCall here of Real Estate Investing Mastery podcast. I hope you’re doing well.Listen, I’m doing something a little differently today and I got something really important to share with you. I’m going to be starting a series called Brilliant at the Basics. It’s all about being brilliant at the basics. The most successful people I know in this business are really good at just a couple of things. They’re brilliant at the basics. I don’t know how long it’s going to take but I’m going to be going through a series of video podcast like this where I’m going to be doing a My Map and maybe be doing some video and actually I’ve got a cool little treat for you. I’m going to draw something on the podcast today and we’ll see if it works.
My business partner and I wrote a book called being Brilliant at the Basics. This is a good book. It’s about a hundred and … 95 pages. It’s 95 pages long. We did about I think 4 webinars and we converted it into a book and this getting really, really good reviews and we’re getting great feedback from this book. What I want to do is take the concepts that we talked about this book Brilliant at the Basics and break them down into actionable content that you can take and implement and use that will be useful for you. The reason why Peter and I wrote this book is we’re looking for more people to do deals with. You can get this book for free plus shipping and handling at freebasicbook.com.
Anyway, one of the things I want to talk about today was the importance of keeping things really, really simple and how to focus on 1 thing at a time. You’ve heard me talk before about the 3 keys to success in this business is number 1, marketing; number 2, automation; and number 3, delegation. It’s all about marketing and then creating the systems to automate that marketing and then delegating it out so it just gets done for you. You’ve got to remember to keep them in the right order. You need to pick 1 piece of marketing then you need to sub-systemize it, which is automating it, then you need to delegate it out. Then number 4, you repeat the process until you have at least 3 to 4 different types of marketing going out. It’s really important.
I talked to people who have just maybe one type of marketing that they’re going out that they’re doing and then they complain that it’s just not working or I’m not getting that great of a response. It’s always important to have at least 2 or 3 maybe 4 different types of marketing that are going out. If you have these 3 things going out and they’re running in tune, your marketing is going to virtually run on autopilot and then you can focus on the things that make you the most money like talking to sellers and making offers. It’s all about being brilliant at the basics.
I’m going to be talking about how to focus on 1 thing at a time in your marketing. It doesn’t matter whether you’re getting all your leads from realtors, maybe direct mail or bandit signs, but once you get at these systems in place everything else is going to take off and being brilliant means absolutely dominating that function or that activity.
How are you going to dominate real estate? Being brilliant means doing it better than anyone else out there. When you’re brilliant at the basics and you get really good at implementing your marketing and systems, you can then get good people in your business to do all that stuff for you. I like to call it marketing done for you in spite of you. This all designed to create a lifestyle for you, delegating other tasks so that you can enjoy your life and focus on the more important details of your business and your life.
I think it was Ron LeGrand. He is famous for saying, “The less you do the more you’ll make,” so true in this business. When you’re good at the basics stuff, when you’re good at focusing on just 1 thing at a time, you’re going to be making more money.
Let me ask you the question, how distracted are you? You keep on learning new things. You’re listening to some great podcast. You buy some courses. You go to some boot camps and workshops. You’re chasing all these shiny objects and you’re trying to be a jack-of-all-trades but really you become a master of none.
I saw this little image the other day. I thought this was funny, “Help wanted, Jack of all trades and master of none. To complete 80% of half of the list of some of the jobs that need repair.” Do you ever feel like that sometimes? Do you feel like you’re the jack of all trades but really you’re a master of none? You have so many different things going on. You’re so distracted but you just feel like you’re spinning your wheels.
Meet John. John is a client that we were working with recently. He’s doing a ton of work but he’s making no progress. He’s frustrated. His production was really, really low and he wasn’t making any money. Why? Let me show you why.
He was doing it all. He was doing everything that he was supposed to be doing. You’re looking at you’re doing the postcards, you’re doing the marketing, the yellow letters, you’re doing the Craigslist, you’re doing bandit signs but you’re not getting any results. What’s wrong? You’re scratching your head thinking, “Maybe this stuff doesn’t really work.”
We started looking at what’s going on in his business. We wrote down everything that he’s currently doing and then we wrote percent complete he was with each of these things.
I’m going to try to see if this iPad thing really works. I’m not an artist but I love technology and there’s this new application that I have that is a lot of fun and it’s called Paper Fifty Three. Let me get it up here, I’m going to show you something.
Here we have this chart. This is John. He’s got all of this stuff going on and let’s call this Percent Complete and let’s call this Activities. Then he has … Let’s do postcards. He’s got his bandit signs going out. He’s doing his Google pay per click and maybe he’s doing some yellow letters. That’s were all the stuff that he’s working and all stuff that he’s doing.
Then we look at what percent complete are you in each of these things. Postcards, he’s 50 percent complete. Good, 50 percent complete. Bandit signs, he’s got that going at 75 percent complete. Google pay per click, he’s just getting started, buying a lot of courses, learning a lot of things on that. Yellow letters, he’s doing maybe 75 percent complete.
What’s the problem? What do you see the problem with that? I can tell you what I see. He’s only 50 percent complete in his postcard. He is 60 percent complete on his bandit signs. He is 25 percent complete on his Google pay per click and maybe this is 75 percent complete up here, but he’s nowhere near where he needs to be to make money. He’s a jack-of-all-trades but he is a master of none.
What do you do? What’s the problem with this picture? What we did is we said, “Let’s just focus on postcards. Let’s get that done.” Once that is 100 percent complete then let’s move on over to the next thing, bandit signs. Then once that is 100 percent complete then let’s move on over to the next thing. Then once that is 100 percent complete, once those are 100 percent complete then you move on over to the last thing and then you get 100 percent complete.
Does that make sense? That’s my art for you. I was doing this before. That looks a little better when I was practicing here, but you get the point. What do you do now that you’ve written everything down you know where you’re at? Break down all your systems into the most basic things and pick maybe 3 things that you want to do. Focus on just 1 thing at a time and don’t leave that until it’s running at 100%. Once that system is in place then you delegate it and then you move on to the next system.
I notice this is really simple it’s not profound, but for instance let’s take a look at postcards. You write down the system. Write everything down that you want to do. Number 1, you get a list. What list do you get and how do you clean that list and remove the duplicates or remove the banks? Then you want to set up a phone number. You got a 24-hour recorded message or live answers, they go into an operator. Is it a local number or toll-free number? Then where are you going to get the leads? Where are they coming from and how are they being tracked? Are you going to use Podio or Google sheets or yellow pads?
What is a postcard going to say? How often are you going to send it? Who’s going to print and mail the postcards? Are you going to do them yourself? Are you going to find a local print house or click to mail? What’s your budget? If you’re going to be doing this consistently and you’re going to be hitting everybody 2 to 3 months, what’s your budget? How many can you mail? Do you need a really huge list or do you want to focus just on a small narrow list? It depends on your budget.
Then you need to track your results and measure the results so you know what’s going on, what’s working, what’s not. Then who is going to do what? Once you’ve got that stuff written down, you write down the procedure with bullet point step by step by step. Put it on a Google doc. I like Google docs because you can share those with your virtual systems or with your teams.
Then you’re going to do a video of you doing it. This is something I’ve done a hundreds of times with my procedures. I write down everything and then I record a video. I used something like this. What I’m using right now is Screenflow or the Screencast-O-Matic or Screener and you’re recording yourself on video. You don’t have to have the webcam on or a professional mic. It’s just you and the laptop recording yourself on video doing each of these things.
Then you can upload those videos to any of these services that I’m talking about here and they’ll give you an HTTP link that you can put into the Google doc so now you give that to your VA. The VA watches the video of you walking through the document and doing everything yourself and right there you’ve got a system. You got a system in place to now that you can delegate it out.
Take 1 thing at a time. Get to 100 percent on that and then delegate that out. Don’t forget to track measurable results and give your team expectations of what you want. When you have a new system in place and it’s 100 percent, you’ve got to figure out it’s going. Tell your team, “Look, I want you to send out 500 postcards a week,” or, “I want you to scrape and contact 20 sellers every day in Craigslist.”
Then you give them the results. You show them how to put the stuff into a Google spreadsheet or into Podio or Zoho, whatever you’re using so they know what you are expected to see. You are giving them the results that you want to see every day. Does that make sense?
Action steps. What do we do now? Number 1 action step, ignorance on fire is better than knowledge on ice. Don’t forget that. I don’t think you have to understand all step 7 and 8 before you start doing steps 1 and 2. Ignorance on fire is always better than knowledge on ice. Sometimes so many people trip up because they think they have to have all the answers, but you don’t.
There’s other phrase that I like. This is my new favorite phrase, “Done is the new perfect.” When you’re building these systems and you’re trying to get that up to 100 percent complete, don’t worry about it being perfect before you start releasing it or delegating it out.
Done is the new perfect. You’ll never get to perfect and if you think you are, you’re just going to be scattered like I was talking about before. You’re going to have all these projects going on and they’re all going to be at different percent complete and you’re going to be spinning your wheels.
Done is the new perfect. You can always fix it and adjust it later after it’s released like this podcast. It’s not perfect. There’s has been a lot of little errors and mistakes and spelling glitches, but that’s just done I’m going to get it out the door.
Then next action step. Take a list of all the marketing that you want to do and just write it down and ask yourself what percent complete are you on each of these things. Then focus on the most important one, maybe it’s postcards, maybe it’s yellow letters and just forget about everything else and just focus on that 1 thing. Then you prioritize that list something like that then you focus on 1 thing. Don’t leave until it’s 100 percent, et cetera, et cetera.
There are 2 more things I want to tell you about. There’s a bunch of really good real estate investing-related podcast out there. Of course, ours is the best realestateinvestingmastery.com. I just wanted to give a shout out to some of my other favorite podcasts. I don’t listen to all of the episodes because there’s a ton of them.
There’s some really, really good podcast out there. Matt Theriault at Epic Real Estate Investing, you got to check that one out; Justin Williams at House Flipping HQ; the Bigger Pockets guys; Todd Toback, even though he had an update of this thing, No Limits podcast. Todd, are you out there watching this? I guess he is outdated in a while because he’s focusing on … He’s crushing it right now in San Diego but he’s got some really good podcast at No Limits. There’s Carl. I talked to Carl just a little bit ago. Shout Out to the Red Pill Investor, that’s a really good podcast. Then there’s Justin Colby, the guys at Real Deals and Flip Nerd, Science of Flipping.
These are all really, really good podcasts, so go out and listen to these guys because we all have different angles, different perspectives, different things that we’re working for us that we’re doing right now in our businesses and it’s really good. Just once a day listen to a really good podcast from these guys and, of course, check out our Real Estate Investing Mastery. If you’ve not heard it yet, you’ve got to listen to the last 2 that we did with Tom Krol. They’re just amazing. He’s taken systemized stuff to a whole another level.
Then finally, last action step. Just get our book. Get our stinking book. It’s absolutely amazing. It’s called Brilliant at the Basics. If you go freebasicbook.com, it’s going to take you to a video. I need to change this video. I did this when I was somewhere on our RV trip a few months ago. This book Brilliant at the Basics is really good and it’s chockfull of really good stuff. When you get this, we’ll send it up to you but you’ll also get a PDF and the videos of the webinar that it came from.
One more thing I want to share with you, my friend Sean Terry at flip2freedom.com just released a podcast interview with me and I wanted to mention this to you because I think a lot of you guys will like this podcast. It’s episode 117, How Joe McCall Virtually Wholesaled 6 Deals from His RV. This is all true guys. None of this is hype. This was a great interview I did with Sean Terry a little while ago on how I flipped deals while I was traveling. We also wrote this book while we were traveling on our big RV trip for 10 weeks. Check out that podcast. I’ve actually shared more with him on his podcast than I have on our podcast, so maybe I will tell you some more about that.
Anyways, guys, take care and thanks a lot. Go to freebasicbook.com to get this book. Go to realestateinvestingmastery.com to listen to all of our great episodes in the past. Thanks a lot, see ya.
What are you thinking?
First off, we really love feedback, so please click here to give us a quick review in iTunes! Got any thoughts on this episode? We’d love to hear ’em too. Talk to us in the comments below.
Enjoy this podcast? Share the love!