Focus on the whale
I am reminded often as its a common challenge a lot of private clients face as well as group coaching clients and entrepreneurs in general, I see it far to often and I was there too. Too many entrepreneurs are trying to do to many little things. I get it when you first get started you will do anything to make ends meat “I'm a wholesaler, investor , realtor, I shine shoes on the side, cut your grass, clean out your house I do it all you name it im your man! ” This is called survival you will do whatever it takes to survive however this is not thriving. Its also operating from a state of resistance vs abundance. However, what you don't realize is its a trap if you don't learn to get out of it a few things come to mind 1) The old saying a jack of all trades is a master of none is very true. By doing “Everything and anything “ to make ends meat you never allow or have the time to truly focus, specialize and master one thing, remember "specialist get paid the most" If you don't realize this you will spend your whole life doing all these little things and everything to get by and never really make the breakthrough you were meant for you will just have an ok life but not an incredible life that you have always envisioned. 2) you don't realize by doing everything you are prolonging the time it takes to get to where you really want! . If you took the next 3-6 months to focus on 1 thing and one thing only and really master that one thing for example wholesale properties talking only to say absentee owners period, 1 category you will get there 1,000 times faster as you are putting all of your intentions and focus on 1 thing period. Instead, most are focused on 3-4-5 things at once and you can only achieve at the most 25% capacity in each category and then you feel you have to add more things because each is only producing a little bit it's a vicious cycle.
This is a skill I learned to master early on and has played a great role in my success and I continue to refine it. If you have spent anytime around me, tried to pitch me an idea or investment or asked me for a lunch or coffee you will see I am hyper focused. If it's not in line with the one thing I am focused on at the time forget it, it could be the next $1B idea I wont budge or likely even respond. You will never get me to entertain the idea of anything else ever. This is how I have achieved “The seemingly impossible” in such a short amount of time each time.
It's the exact same reason billionaires are billionaires. We each have 24 hours in the day so why is a billionaire a billionaire? Because he/she is hyper focused only on his/her highest and best use of time and usually it's incredibly specific. If you ever communicate or listen to billionaires you will see there is zero chance of them entertaining anything other than what they are currently focused on period. They have mastered this concept.
As you get better at this you further learn to only focus on and develop the skills to accomplish things that will pay you the most. For example I was fixing and flipping 100+ homes a year to make $3M a year in revenue, the amount of staff , support expense and stress that was created from that was insane and no way to live. Then I learned the skill to syndicate real estate and take down deals that were $10M-50M-100M projects so I could do 1 project a year/life and make $3M+ on 1 deal vs 100 deals a year. It takes significantly less time, energy and resources and the result is ten fold. I could assemble my teams on demand per project vs pay for a constant staff and overhead, I can work when how and where I want vs being chained to a desk and office, I could decide to never work again because all you need is 1 whale deal vs having to show up and work every day for the scraps as they run out and are small. What people don't realize is that 1 $10M deal requires the same amount of energy and focus as putting together 1 small Single family deal.
Don't believe me? Consider this, You spend two weeks prospecting or 80 hours to land a fix and flip deal that will make you $30,000 and this is if you are being efficient and consistent daily. Then you spend another 1-2 weeks closing on that deal so call it 1 month. Then you spend another 30-60 days renovating that deal so now we are at say 3 months then you finally get it renovated and put on the market it takes you 1 month to find a buyer and another 30-60 days to close. So lets be nice here and say this 1 deal from start to finish took you 1+2+1+2 = 6 months to close start to finish for $30,000. Not bad right? Now consider this, . what if you spent the next 60-90 days prospecting for a “whale deal” say a $10M deal it took you 30 days Due diligence and another 30 days to close during this time you raised the equity as well all in your are about 5-6 months however that deal will pay you $300k in cash up front and likely that in annual net income for as long as you own it and in 2-5 years if you do it right you can cash out your investors and own it 100% yourself! You got 1 deal that took six months and will pay you forever vs 1 deal that took six months paid you $30k and now you have to find another and by then you have already spent the $30k on living. Now imagine if you used that same skill to tackle a $50M deal or $100M deal. Whats stopping you? 100% the voice in your head that is not you.
To many entrepreneurs get caught in the trap and can't get out . At some point, you have to abandon the old “do whatever it takes to survive” mentality and readjust to focus on one thing and do that one thing very well and eventually make that one thing a “whale of a thing” like 1 $10M project for the year vs 100 projects. Sometimes this may require you to “burn the ship down “ like I did a very tough decision but abandon the old way, let it all go and all the complexity and restart, rebuild the new way. Not easy but if you want to get there it has to be done.
You don't need the complexity of 100 deals a year 4 businesses going at once etc, what you need is the skill to take on 1 big project to replace all of that. And that same skill can be developed in the exact same amount of time as the skill to do 100 projects , The challenge is one way is near-immediate gratification and the other requires the ability to go without gratification for an extended period of time and trust it will work out and patience and consistency without immediate reward. Its not for everyone but its what separates the ultra-wealthy from the “common” the billionaires from the millionaires. Which do you want to become? What mindset and skills do you want to develop or work on next?
If you want to develop this skill come join me in the ultimate real estate investing course and coaching, I'll show you and mentor you exactly how I moved my business from 100+ fix and flips a year to one “whale” deal a year is all you need for life. It starts with a free 1 on 1 strategy call with me now at https://dylan-borland.mykajabi.com/webinar_Apply_now
Don't be afraid to give up the past for a better future.
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