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Marketing Tip for Real Estate Entrepreneurs Part 1

Monthly Tech Tip for Real Estate Entrepreneurs

 

To succeed in business, you must do the little things it takes to beat out your competition. In the New York Times bestseller Outliers, famed author Malcolm Gladwell mentions his “10,000 hour rule.” Simply put, Gladwell asserts that the people who attain high levels of success in a chosen field usually must put in at least 10,000 hours of dedication to that craft.

 

Where are YOU going to find 10,000 hours to make yourself a successful real estate entrepreneur?

 

10,000 hours equals 417 days. I assume that no real human beings can actually dedicate 417 straight days without sleep, so obviously this is going to take a bit of patience, perseverance, hard work, discipline, and sacrifice.

 

What does this have to do with technology? Technology can enable us all to do things more efficiently. By using some of the powerful technological tools available to you, you can save an hour here, 30 minutes there, 45 seconds over there, and it all adds up to “extra time.” When you have this extra time, use some (or all) of it to inch closer to your 10,000 hours.

 

EXTRA TIME. One of the best ways technology can help you take advantage of “extra time” is to find more time to educate yourself. My favorite way of doing this is to listen to podcasts about real estate, business, entrepreneurship, and success strategies. I download podcasts to my iPhone and listen to them whenever I am in the car, often when I am exercising, when I am working, grocery shopping, and really anywhere else that you don’t want to talk to other people. (try it at your in-law’s Christmas party and let me know how that works out for you…)

 

Public service announcement: if listening in your car, please don’t use headphones! That is dangerous. You can buy a simple connection cord and plug it in to your “AUX” jack on your car stereo. Ask a Best Buy geek how to do this if you are unsure.

 

What is the best part about podcasts? THEY ARE FREE!! I have never paid a dime for a podcast, and I’ve learned A LOT from them!

 

A STORY. My real estate investing career was actually saved by listening to a podcast. Back in 2011, I paid thousands of dollars to a real estate investing coach who promised to help me do big things. In my opinion, the coach severely under-delivered on those promises. Believe me, I wanted to quit; real estate entrepreneurship was HARD, and I had a comfortable corporate job (that I generally disliked, but it paid the bills). Anyway, in my desperate search for help and hope, I stumbled on my first podcast called “Flip2Freedom” (aka Ultimate Real Estate Investing Podcast). There are now over 100 episodes (all available for free). I started listening to those podcasts every day on my 30 minute drive to and from work. I listened while training for a half marathon. I listened while I was actually working at my job – corporate productivity down, real estate education up. Through this podcast, support from loved ones, and a lot of hard work, I finally did my first couple of deals and made back the money I paid to that coach. PLUS, I gained the confidence and knowledge to stay in the real estate game.

 

How do you find podcasts? I am a big Apple guy, so my knowledge is on their platforms. If you own an Apple device, search the App Store for the FREE Podcasts app. Download it to your iPhone and your iPad. Within the Podcasts app, click on the Store button, then search away.

 

If you are not an Apple person, please Google search to find the answers, as they are definitely out there. Most podcasts have their own website where you can listen to each episode directly. I am aware of another service that is also free, called “Stitcher Radio”, but I do not know how it works. www.stitcher.com

 

Anyone that has the answers for non-Apple people, please feel free to share and I will include that information in a future article.

 

My favorite podcasts:

  • Real estate related:
    • Flip2Freedom (aka Ultimate Real Estate Investing)
    • Real Estate Investing Mastery
    • BiggerPockets (I am just starting to listen to this one)
    • Entrepreneurship related:
      • Entrepreneur On Fire
      • Well Kept Wallet

 

These five podcasts are a small sample. You can find podcasts on any subject, and podcasting is just now starting to get BIG. Maybe you own some real estate and are good at that, but your real passion is fishing. I just searched, and there are a lot of podcasts about fishing.

 

How dedicated are you to getting to your 10,000 hours? Do you really need to listen to the new Justin Bieber song for the 150th time? Is there another way to get your Steelers/Penguins/Pirates news instead of listening to sports radio? Can you find some extra time during your daily commute to inch closer to your 10,000 hours? The choice is yours…

 

Easy math: 250 free hours of real estate education in the next 12 months

30 minute commute x 2 times per day = 1 hour per day x 5 days per week = 5 hours per week x 50 work weeks per year = 250 hours per year

 

Written by: Nick Lloyd | President | Steel City Housing Solutions, LLC