I frequent a sushi restaurant that opened up in my neighborhood.
To me it’s kind of comic…
When I first moved into this neighborhood I used to pluck bullet slugs out of my fence and I couldn’t get through my door without being hustled by someone scamming for a quick spot of cash.
Ah, the joys of life in an up-and-coming neighborhood.
A target neighborhood.
Why did I move here?
Because there were lots of great house deals to flip.
And I like being in the thick of things.
Now the neighborhood has changed.
A lot.
Now there’s a sushi restaurant.
Guess we’ve come a long way.
So as I sat at the sushi bar chatting with the chef, I asked him about what makes good sushi.
After all, Japanese sushi chefs are known for their attention to detail and the sheer number of years it takes to become a proper sushi chef.
His answer:
Refinement, balance, simplicity.
In my opinion these aren’t just the core values of sushi…
They’re the core values of entrepreneurship and having a successful real estate investing business as well.
Here’s why:
1. REFINEMENT
A good (meaning “profitable”) real estate investing business needs to constantly improve the quality of its offering.
This is an on-going process that considers both the details as well as the overall picture of what its purpose is and what its systems are.
Especially with its marketing campaign, a business needs to stay on top of what is working, and make refinements as it goes based on feedback from the market.
You are doing enough marketing to motivated sellers to get the VITAL feedback you need, right?
2. BALANCE
What areas are you strong in?
What areas are you weak in?
The weak spots obviously need to be improved, but your strong suits often need to be tempered as well.
It’s human nature to only focus on what you are good at.
But since you only focus on what you like and are good at, you overcompensate in the good categories and fall out of balance.
Therefore business suffers.
With an entrepreneurial real estate investing business, you don’t have the luxury to focus only on what you are good at. You have to do it all.
Like it or not.
Good at it or not.
So stay in balance.
Namely, get help where and when you need it.
3. SIMPLICITY
Keep it simple, sweetheart.
The more you complicate things, the less likely you are to be able to keep on top of it all.
That’s when you’ll drop the ball, lose the deal, and lose money.
A real estate investing business has lots of moving parts as it is, so don’t make it worse by adding unnecessary layers of complication to the mix.
When you break something down to its basic core pieces, it should be simple and make sense.
And you should be able to explain it clearly.
Otherwise you need to go back and rethink it all.
Because if it’s too confusing, a confused mind will say “no”.
And that’s not what you want to hear from your motivated sellers, is it?
So remember: refinement, balance, simplicity.
The core values of sushi,
And of the real estate investing business.
Ready to become a master chef?
I’m sharing the recipe for a good business here:
http://TractionREIA.com/tom
Tom Zeeb
Traction Real Estate Mentors
