What’s The Investment Plan, Stan?

When a big business is just beginning, even before the first “brick” is laid down, the first step entrepreneurs take is to write a plan. Why? First off, investors and banks are going to want to see it. But also, it gives the entrepreneur a chance to gather their thoughts and set a positive course of action. That’s exactly what every real estate investor should be doing too, yet unfortunately, it’s nearly the opposite as many of them don’t do this at all.

In fact, and this is one of the saddest realities of all, I’ve found that the vast majority of investors will spend more time planning their annual vacations then they do planning out their investment business.

Isn’t it any wonder then why we find that 92% of all investors fail in their first three months? In this sense, the motto “you fail to plan, then you plan to fail” really is true.

Regardless of whether you are a one person real estate investment business right now, if you haven’t put together a simple plan, then this little article may be one of the most important you’ve ever ready. By the way, it doesn’t matter that you might not have any investors to impress yet. Each investor needs a positive direction laid down in writing, and every successful business owner – large and small – returns to review it every so often.

So, start by implementing a strategy that will work for you. Here are just three easy questions mull over for a moment to get those creative juices flowing – to put you on the right path for success, and that will help you reduce your current workload while effectively increasing your business profits. For example:

• How do you want to run your business?
• What kind of business do you want to have? (Of course, we are talking about running a real estate investing business).
• Finally, what is your vision for it?

Then, you have to follow through with your action plan. You absolutely must have your business plan in writing. I can’t express this enough. It’s like making a contract with yourself that you are going to honor. If you can’t honor a contract with yourself, then who can you honor one with, right?

It is a little word called stick-to-itiveness. It is far better for you to stick to your strategy, one that fits your current market environment for the short term, but that takes into account that it will need to adapt to market changes over the long term, then to simply change it every time something doesn’t seem to be working.

Things don’t always happen overnight. It took six years for Warren Buffett to make his first million. And it took Bill Gates nearly three decades to go from broke to the world’s richest person. While I’m not stating that the income your investment business generates will eclipse the mass wealth Bill Gates has accumulated, fortunately, you can indeed generate a six figure bank account or realize 7 figure gains in as little as seven months with real estate. One of the habits you will need to learn and consistently practice for this to happen are the tactics that make up your strategy over time.

For instance, if you were learning the guitar, you would spend a few minutes every single day practicing and refining your craft as you began to master it. Bit by bit, you would find yourself improving, and enjoying the fruits of your labors, until one day, you can literally play with your eyes shut and without real conscious thought.

By the same token, in an investment business the entrepreneur must repeat their business processes over and over until they can do them in their sleep. When you begin to do this, you’ll see very positive results in a relatively short period of time (compared to Warren and Bill).

Cheers,

Brad Wozny
Creator, 7 Figure Profits™

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