Before we begin, you need to know there are two ways of approaching life:
- One way is to be bitter and only listen to our own advice, and that’s dangerous.
- The second way is to be believing. This is how successful people live.
We need all the help we can get, and I wouldn’t be in the place I’m at today making millions of dollars unless somebody showed me how.
“Can I do this?”
I’ve been doing this for 10 years and have spoken internationally for a long time. Thousands of people have learned these things and I’ve seen them get results. All I got to say is… if they can do it, you can do it.
I’ve known car salesman that didn’t know what to do next to get out of that system to go to a 6-figure income. And they did it in less time than they thought possible.
Can you do it? Of course you can, with the 4 Keys of Business.
The 4 Keys of Business are the most fundamental piece to making sure that you have success in any endeavor. This can apply to real estate. It can apply to a multi-level marketing company or network marking company. And it can apply to a business such as a small business or startup. It can even apply to a major corporation.
The way the 4 Keys of Business work is you’ve got to see it on a scale from 0 to 10.
- 10 means ‘yes, it qualifies’.
- 8, 9 or 10 means ‘pretty good’.
- 7 or below means it’s probably not rated high enough to keep doing that or even start a business doing that.
Key of Business #1: Predictability
Predictability is the 1st Key of Business. Ask yourself “is it predictable?”
For example, one of my first businesses was a window cleaning business. I had over 30 employees and I asked myself, “Is this predictable?” It’s summertime but cleaning windows in a city where it snows in the winter isn’t predictable. It’s predictable that you won’t make money. But can you predictably make money consistently day in and day out? The answer to that business was “no” because it was seasonal. Unless I could make a year’s worth of income in 3 or 4 months in the summer then it wasn’t worth it. I needed consistent income year round.
Guess what happened?
Well, I ended up selling that business and asked the person who was buying it, “What are you going to do in the winter time?”
He said, “Your clients who pay $2-300 to get their windows cleaned are the clients who have houses that are too big to reach windows. They’re also too high to hang Christmas lights, so for the same price as windows we’ll do their Christmas lights and now we’ve got a year-round business.”
See the End from the Beginning
I sold the business because I couldn’t figure out how to get predictability up to an 8, 9 or 10 on the scale… but they could. I’ve taught about how you are the number one asset. Your mindset is the number one asset. When we say ‘is it predictable’ we need to use creativity to see if it’s only a 5, for example, how can I get it to an 8? How can I get it to a 9? Or even to a 10?
As we measure up our business endeavors to this 1st key of business, “predictability”, we can see the end from the beginning. We can predict and know if this company’s going to make money. That’s a critical question to ask. Take a network marketing company for example. Say you’re selling your favorite vitamins. Is it predictable?
It’s going to be a level 10 if you have leadership skills, motivation skills to help manage a team and can motivate other people to help you do it. If you don’t have those skills then your predictability’s going to be a lot lower. It has nothing to do with the vitamins.
Let’s take real estate, for example. It’s one of the most common assets that the rich and the abundant have to make money. How does real estate measure up? Is it predictable?
If you get a tenant that has good credit the chances of them paying rent are sky high. If you have the system of a credit and criminal check before you move a person into a property then the predictability goes from maybe a 3 or 4… to a 9 or 10!
Bad Advice from Your Friends
Your middle-class friends will try to talk you out of making investment decisions they don’t understand. They’ll say, “You don’t want to fix toilets in the middle of the night.” (By the way, I’ve never had to go fix a broken toilet because of how I manage properties.) That’s a middle-class story of what they think the rich and the abundant are doing.
I’ve made millions of dollars and invested in millions of dollars of real estate and made millions in business. Real estate measures up to a high level of predictability on the 4 Keys of Business.
Key of Business #2: