““How do you know where you’re going if you haven’t defined the destination?” –Unknown
Welcome to Part 1 of 6 posts that will teach you how to hyper-systemize your business to scale to 7 figures in flip income and beyond.
On this 6 part series of posts, we’ll be discussing specific trainings from our new 6 phase implementation program designed to turn the active house “hustler” business into a systemized and robotic deal flipping machine that the owner can STEP AWAY from.
The Main Objective
We get into the real estate investing space with the promise of these common desires:
- Financial freedom (ie. not having to worry about a lack of money)
- Legacy wealth that lasts beyond you
- Recurring income that comes in whether you work or not
- Time freedom so you don’t have to trade money for time
- A source of personal growth
The problem is, there’s a LOT of moving pieces that need to fall together in order to do deals over and over.
You are taught how to DO deals.
But rarely are investors taught how to run a BUSINESS, which goes far beyond just “motivated seller marketing”.
In your journey, you will find yourself wearing many hats. Often getting stuck at certain levels of income because there’s only so much time in the day.
After working with thousands of investors, helping them lock up contracts in our software, we’ve seen the specific types of operations that successful investors have that help them THRIVE in a competitive market.
When you operate from a place of systematic and SIMPLE, you enter into what we call The 80/20 Magic Zone:
THIS, my friend, is the goal for you as an REI entrepreneur.
We’ll be showing you specific steps on your journey to get to this point over the next several posts, starting with this one.
On this post, we’ll show you how to get clear on where you want to take your business. Let’s talk “80/20” Goal Setting.
How can you become successful if you haven’t defined precisely what that looks like and the specific measurable results you must hit to achieve it?
As business owners, we tend to take impulsive action in an effort to get the quickest results. A lot of investor clients we begin working with are used to “blind” execution.
They don’t track results, so there’s no focus on improving over time (because there’s no proof).
And they use scattered systems, which makes it difficult to see your business as a whole, and hire a team that understands the process.
Reverse Engineering Your Goals
Step 1: January Letter
The simplest way to do this is by completing a “January Letter“, which is a way to implant in your brain the detailed outcome of how your life will look, feel, taste, and sound.
This takes care of the qualitative and intangible side of things. Health and wellness, relationships, lifestyle, etc…
Step 2: Decide your “number”
How much do you want to make in the next 12 months? What’s the realistic, attainable, and EXCITING top-line revenue target for your company.
How much do you need for your lifestyle? For your family?
It’s critical you decide on this number. It’s ok to make it arbitrary and random, just make sure it excites you and is attainable.
If you don’t pick a number, you’ll be shooting an arrow into the abyss.
Step 3: Reverse Engineer Your KPIs
For the financial goals, you must reverse engineer your KPIs.
We created a badass spreadsheet that makes this much easier to see what it actually takes to hit your topline revenue goals.
Ie. What are the SPECIFIC operational goals (number of offers, number of leads etc.) you must hit to make the amount of money you decide.
Here’s a video from John on how to use this spreadsheet to get crystal clear on your measurable goals: