We think your first 30 days in mobile home investing is so important because in that timeframe that’s where we really want you to build confidence, build momentum, learn how to build revenue in your business.
We’re getting a lot of new students coming in. And during our kickoff sessions, we’re starting to hear some of the same things, time after time. So, we want to share with you what the most successful students of ours have focused on in their first 30 days.
There’s a lot of moving pieces and we want to simplify the process for you guys into 5 different areas that you need to hone in on. That way you’re being intentional with your time and you’re squeezing the most out of it to close that first opportunity.
#1 Learning The Fundamentals
The first thing that our most successful students do, the ones that are closing deals in their first 30 days, is give themselves the grace and patience to learn the fundamentals.
There’s no need to reinvent the wheel. There is a recipe for success, and we want to follow that recipe as close as possible.
When you start to get into this business, you’re going to start to see a lot of mobile home park opportunities come your way. Mobile homes on land, single-family home opportunities coming your way, etc.
But if you try to focus on everything at the same time, you never get anything done. So the main thing is keeping the main thing the main thing.
So, if you’ve listed out your goals for the next 90 to 120 days, focus on one thing until successful. And then bring some other opportunities in to add to your portfolio.
Give yourself a deadline so that you don’t get stuck in analysis paralysis. Because you can just get caught up in looking at information and research for 1 or 2 months without actually doing anything. 7 to 10 days should give you enough time to go through all our modules.
We feel like you’re going to learn much more by just getting out into the field, not being afraid to make some mistakes, and then bringing your questions back to your peers, to your coaches, so that we can keep you moving forward.
We want to get the basic fundamentals, the foundations of information, but we do not want to get stuck there.
#2 Revenue Generating Activities
We really need to focus on revenue-generating activities as soon as possible.
For those of you guys that don’t know what that means, revenue-generating activities are activities that can produce immediate income, immediate revenue for your business.
Revenue-generating activity is things like going out there and talking to park managers, getting your name out there at different real estate investing groups, driving for dollars by looking for mobile home opportunities, even going out there and networking with other real estate investors and real estate agents.
Revenue-generating activities are things like marketing yourself, networking, inspecting properties, and giving offers. Those are all things that we really want to focus the majority of our time on.
The name of the game is taking whatever time you have and focusing 80% of that time on revenue-generating activities. The other 20% of your time can be what you reserve for admin tasks and learning.
So if you’ve got 10 hours per week that should be at least 8 hours going into activities that are going to produce income for your business. That means you need to get your admin and education done in 2 hours per week.
But let’s talk about what is NOT revenue-generating activities.
Things like looking at trademarking your brand or your company. Slogans for your business. Going around figuring out how to make branded merchandise. Trying to get your dealer’s license before it’s necessary. All this stuff can lead to more of that analysis paralysis.
The name of the game is being consistent. That’s why we really harp on making sure you have time blocks in your schedule. Monday through Sunday, it doesn’t have to be done all in one day, but it must be consistent and you must have patience with it because it took us honestly about a little over three months to find our first deal.
It’s that bottom line first, we’ve got to start seeing a profit. And then we can worry about the fancy stuff, the branding, the websites, logos, the t-shirts. But initially, we really want to focus on revenue-generating activities.
#3 Managing your time
This is so important.
You’re learning. You’ve got activities that you’re doing out in the field. You got leads coming in. Then you’ve got networking opportunities. There’s just so much going on.
I think the biggest thing that helped all of us in the TCA family is protecting our time and managing our time. There’s a book out there that we recommend called Master Your Time, Master Your Life.
A lot of our students struggle with trying to run their life, the job, and the family, while also trying to manage all these revenue-generating actives for their business.
We really think the solution starts with just learning the technique of managing that time, blocking your time.
You only have so many hours in the day so recognizing that and respecting that means you have to track where your time is going. What gets measures gets improved. So you need to prioritize everything, including your business, as blocks of time in a day and track where your time has been going.
By measuring or tracking your time you can decide how to feel about your progress based on data. Rather than going based on how you feel like ‘Man, I didn’t get out as much marketing materials as I wanted to. I didn’t learn as much. I didn’t network with as many people as I wanted to.’
Master it, measure it and make small improvements along the way. From the data, you might learn that by averaging 5 conversations a week you find 1 opportunity. So you can try to improve those opportunities by increasing the number of conversations you have to 10 a week.
With blocking your time and tracking your time you will also realize that you need to protect your time. Get used to saying no more and more often to friends and even family sometimes. Even to some potential opportunities because not every mobile home is a good opportunity.
Protecting your time also allows you to give yourself time to recharge. You’re going to need to recharge and refresh in order to continue giving your best to your business. If you don’t take care of yourself, you will burn out.
When we first started, we got so used to grinding. If we weren’t working from 8 am to 9 pm on the clock, we would literally feel bad about ourselves. We used to think the harder we worked the more opportunities would come our way.
But it wasn’t until we started blocking our time, leveraging other people’s time, asking for help, creating business processes, and working smarter that we were able to really level up in a way that didn’t burn us out.
#4 Practicing Success Habits
Our most successful students practice success habits. And it starts with generating the proper energy at the beginning of each day.
What we mean by that is having some type of routine in the morning to ease yourself into the day and get your mind right. Exercising, praying, reading, talking with the right people, or doing something that inspires you with good intention energy-wise for the day.
If we’re not going into the day with the right energy or the right intention and feeling good our results will show that. And the way that you operate in your day shows that. What you attract to yourself shows that. So set your mindset in the right place and generate the right energy.
One thing you want to avoid while generating the right energy is comparing your journey with someone else’s journey. When you compare yourself and you get down on yourself because things haven’t happened yet, that’s a problem. That can really steal a lot of your motivation, inspiration, and your joy.
So instead, in the TCA community, we encourage everyone to use other people’s success to reinforce their own belief in themselves. When other people succeed it reminds you that there is success to be had out there like, ‘Hey if they did it, I know I can do it.’
It might not happen as soon as you want but it’s definitely coming to you if you’re practicing any of the habits we’ve talked about so far. Seeing other people’s success teaches us how to succeed as well. So be a cheerleader and encourage success around you. We want to be surrounded by that good energy.
It’s all about self-improvement each and every day because when you improve the chances are your business starts to improve as well. Invest in yourself daily by spending time or money to get better.
Setting goals is an important success habit. Set S.M.A.R.T goals – specific, measurable, assignable, realistic, and time-bound. Goals where you’re shooting towards a target and adjusting along the way. And when you achieve your goals you need to find higher goals because you need that feeling in your life of being excited about working towards something.
Remember to have time-bound goals, goals with a deadline. A goal without a deadline is just a dream. When you set a deadline on your goal you might feel fear of failure. So this is where you need to remind yourself that this is a process, you have all the resources you need to succeed, and with consistency, you will always succeed.
#5 Seeking counsel and engage with others
Most successful students are doing this. They’re not out there trying to figure it out on their own. A course or a blueprint can only take you so far. It’s going to give you the fundamental information, but you’re going to run into challenges.
You’re going to run into things that you haven’t seen before, that weren’t on the checklist that you have, and so you need to be able to connect with other people and other mentors that can help you get past those challenges. And you also need to be coachable.
We get some students where they’re just not coachable and they’re getting in their own way. You gotta be open to receiving new information and just going out there and Applying what you just learned.
If you’re consistently engaging with the TCA community, we’re seeing your face, you’re asking a ton of questions then we know where your journey is at. And it’s so much easier to help you and guide you through those challenges.
Make sure that you’re vetting out whoever you’re following and whoever that your mentor. We cannot stress that enough. When we first got started, we were so green and so eager. We wanted that deal so bad that we lost $30,000.
Make sure whoever you’re working with has results. That they’ve got some sort of proof. Because you don’t want to just trust anybody and everybody, especially when it comes to putting in your own money and time into deals. You want to make sure they’ve done at least 10 deals.
These are the things that our most successful students are focused on in their first 30 days, 90 days, and beyond for that matter.
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