Rob Minton
Innovative Business Building Strategies for Real Estate Agents
  • Blog
  • Marketing
  • Investing
  • Goal Setting
  • Resources
  • Contact Us

Archive for Goal Setting

How to Abide in Business

By Rob Minton · Comments (0) · Monday, December 10th, 2012

In my previous article titled, “The Dude Abides” I suggested we should all consider abiding like Mr. Jeffrey Lebowski. To “abide” means to slow down and take it easy. I realize this suggestion may differ from my previous writings and I thought I would share a little background on this topic for those of you who have an interest in abiding.

Several years ago, Tim Ferriss posted an article on his blog about using the philosophy of Stoicism as a guide for entrepreneurs. In his article, he shared the following quote from Seneca:

“There is nothing the busy man is less busied with than living; there is nothing harder to learn.”

Well, when I read this post, I really didn’t fully grasp what Seneca meant when he put this idea to paper. At the time I initially read this quote, I was the busy man fighting to achieve my various business and wealth goals. The majority of books I read were business and marketing books. I worked 7 days a week and was proud of my work ethic. I honestly viewed myself as a work machine.

Tim’s post led me to reading “The Shortness of Life” by Seneca. One thing led to another and I began reading philosophy book after philosophy book. This was a major shift for me and I began to think differently about life. I have always felt we have one shot at life and it makes a great deal of sense to try and get it right. Who wants to face their last few hours with regret on how they invested their time?

One of the biggest ideas repeated through almost every single philosophy book is…

Wealth accumulation is not a worthwhile pursuit.

So I began to struggle with the ideas of philosophy and business, because they seemed to conflict. Every business book I studied focused on increasing revenues and profits. Every philosophy book I studied focused on how to live life well by changing how we think and to fight the urge to pursue money, material “doodads”, and wealth.

The big question that kept swirling around in my head was, “How do I build a business (or businesses) and use philosophy as a way of life?” Now I haven’t mastered what I’m about to share with you, but I think it may be helpful, so I’m going to share it anyhow. I honestly do not know if I will ever master these steps; however, I hope to improve more and more with each passing year. Seneca was definitely correct when he wrote…”there is nothing harder to learn.”

1. Change your goal(s).

For most of my career, I set very specific business goals. These goals included number of leads generated, number of leads converted to clients, number of sales, commissions earned and wealth acquired. Goals such as these are very important, if the focus is money and wealth. However, if the goal becomes living a good life, these goals may become problematic.

To eliminate these problems before they occur, consider shifting your goals to something more valuable – learning how to live.

Yes, we will still work and build our businesses, but $$$ will not be our focus. Instead our focus shifts to slowing down and enjoying life. It’s important to understand we enjoy life in our thoughts, not our bank accounts.

2. Slow Down.

I have always been a very impatient person. I do not like waiting for anything. For many years, I thought this helped me in business because I would simply make things happen instead of waiting for them to happen. The old “Money Follows Speed” thing. Well, I now finally understand there is NO DAMN URGENCY.  It is impossible to enjoy life when you’re going 100 miles an hour trying to do too many things at once. Slow down and understand everything will be okay. It really will. Take time to smell the roses. Take time to play tag with your kids. Take time to learn a musical instrument. (I am taking acoustic guitar lessons. They are very challenging!) Take time to read philosophy books. Take time to enjoy the people in your life. All relationships end in loss, so enjoy every second you have with the people you love.

Yes, continue to work to improve your business. However, understand there is no urgency. We create urgency by the importance we place on things. Eliminate or reduce the importance and the urgency disappears.

3. Stop Creating Drama in Every Area of Our Lives

We create drama when we make a BIG deal out of little things. We have a tendency to create a lot of drama in our lives and sometimes we don’t even realize we are the drama starters. I used to think others created all of the drama, but I now clearly see that I’m very good at it, too. Before doing something, take a second and ask yourself these questions…

- Is this really necessary?
- Will this call/email/text cause drama?
- Is this really a BIG deal, or can I simply let it go and let things happen as they will?

A great example I can remember from a Disney vacation occurred when I tried to get fast passes for my family for the new Toy Story ride. I had heard that fast passes go quickly, so I got up early and went to the park on my own. I took the park tickets for all of my family members and my plan was to get fast passes for everyone. Well, I entered the park and rushed the fast pass machine. I couldn’t get fast passes for my family and this was because they hadn’t scanned their park tickets at the gate. I went back to the gate and learned that I couldn’t scan their tickets without each person being with me. So I ended up not getting fast passes and wasting a ton of time in the process. I initiated this drama and suffered the consequences. The rest of my family slept in and enjoyed a leisurely breakfast at the resort. I didn’t because I decided to initiate this drama by turning the fast pass tickets into a BIG thing.

4. Learning Detachment

Over the years, I have allowed myself to get so wrapped up in the outcome of just about everything. This has caused a great deal of unnecessary stress and unhappiness. One of the ways to abide in business is to learn to detach yourself from what happens in your business. I realize this may sound crazy, but you’ll find a lot more happiness. As an example, let’s assume you have a listing appointment tomorrow. Try and detach yourself from the outcome of this appointment. If you get the listing, great. If you don’t get the listing, great. This way you cannot lose and you’ll hopefully avoid some disappointment if you walk away without the listing. This is the…“Fuck it, lets go bowling” mindset from The Big Lebowski movie.

If any of this has any meaning to you for your life, I would like to recommend one more book. The book is titled, “A Guide to the Good Life: The Ancient Art of Stoic Joy” by William Irvine. It is probably the best book on how to live life well I have read over the last few years.

DISCLOSURE: The links in this article are not affiliate links.

Comments (0)
Categories : Books, Business Re-invention, Goal Setting, Succcess, Time Management
Tags : abide, dudeism, lebowski, philosophy, stocism

The Goal of Business

By Rob Minton · Comments (1) · Tuesday, July 3rd, 2012

WARNING: I am going to go a little “Jerry Macguire” in this article!

Why is it important for us to have a goal of business? To answer this question, let me quote William B. Irvine:

“Because without one, there is a danger that you will mislive – that despite all your activity, despite all the pleasant diversions you might have enjoyed while alive, you will end up living a bad life. There is, in other words, a danger that when you are on your deathbed, you will look back and realize that you wasted your one chance at living. Instead of pursing something valuable, you squandered it because you allowed yourself to be distracted by the various baubles life has to offer.”

For most people, they’re goal of business is wealth. They want to build a business to become wealth or increase their income so they can increase their standard of living.

I’m going to argue that this may not be the best goal of business and the reason why is because money does not buy lasting happiness. Sure, money does make life easier, but we quickly get accustomed to things money buys and soon after we go searching for more. It’s an endless cycle where we end up constantly chasing more money.

A better goal of business is: FREEDOM.

Chris Guilleabeau said it best in his book, “The $100 Startup“, when he wrote:

“The income from the business didn’t make me rich, but it paid the bills and brought me something much more valuable than money: freedom.”

The goal should be do design our our business, or businesses, to provide freedom. The way I see it, we’ve got one shot at life and it doesn’t make sense to spend the majority of our time chasing something that doesn’t provide lasting happiness. Chris Guilleabeau wrote that he had no schedule to abide by, no time sheets to fill out, no useless reports to hand in, no office politics, and not even any mandatory meetings to attend. Sounds nice, doesn’t it?

So if the goal of business is to provide time freedom, how do we do it? It’s a question I ponder a great deal and have wrote about many times in my Master Marketer reports.

To acquire time freedom in your business, you must turn your business into a money machine.

What comes to mind when you think of a money machine? Does a money machine look like something like this sketch?  Or is the picture below a better representation of a money machine?

If you Google “definition of money machine”, you’ll find references to Automated Teller Machines. ATM’s aren’t really money machines. They simply give you access to money you’ve already collected.
A real money machine is something that provides positive cash flow or spendable income to you on a recurring basis.

A few examples of money machines might be…

1. Profitable business you own/control that doesn’t require your consistent physical labor.
2. A profitable website you own/control that provides cash flow. (An example would be a membership site where members pay monthly membership fees.)
3. An affiliate program you can consistently profit from.
4. Stocks you own that pay consistent dividends.
5. Bonds you own that pay consistent interest.
6. Real estate you own that pays consistent positive cash flow.
7. Notes receivable you own that provide consistent interest income.
8. Clients who buy multiple properties, generating consistent commission income.
9. Profitable advertisements you control that generate consistent revenue above costs for your business.
10. A database you own/control from which income can be extracted from consistently.
11. Homes in property management providing consistent monthly income.
12. An employee or agent who generates consistent income/cash flow for your business.

We could obviously continue listing various money machines. However, I think you can get an idea of what I mean by money machines. Many people talk about multiple streams of income. An income stream might come from a money machine, if it doesn’t require your physical labor. If someone works three jobs, they’ll have three income streams. These income streams are not from money machines. YOU cannot be one of your money machines. If you have to trade your time for the money, it’s NOT a money machine.

Make sense?

This means your business may or may not be a money machine. If your business requires your labor to generate 100% of its income, it’s not a money machine. It’s a job, and this is how most real estate agents operate. If you don’t have agents selling on your behalf, or recurring monthly income in your business, your business is NOT a money machine.

Take some time over the next few days to really think about your business and the goal of your business. You do not want to “waste” your life chasing something that doesn’t provide happiness. I will write more about turning your business into a money machine in the near future. In the meantime, consider these two very important questions:

1. What is the goal of your business?

2. Is your business a money machine? If not, what can you do to turn it into a a money machine?

Comments (1)
Categories : Business Re-invention, Goal Setting, Succcess, Time Management

How to Have An Awesome Life

By Rob Minton · Comments (2) · Tuesday, April 24th, 2012

Since compounding is the approach I use as an investor, a book titled “The Compound Effect” by Darren Hardy caught my attention so I downloaded it on my Kindle. Even better, Darren Hardy started
in business as a real estate agent in California, so it’s easy to adopt his ideas for our businesses. Today he is the editor of Success Magazine.

The idea behind his book is that our daily actions can be compounded into an amazing life. However, we have to plan these daily actions and ensure they will lead us where we want to go. We cannot haphazardly go through each day. We have to make specific actions that will compound over time and we have to put a great deal of thought into these daily actions.

This isn’t the case for most people. Most people go through each day following the same routine without thinking about compounding. From the book…

“The Compound Effect is the principle of reaping huge rewards from a series of small, smart choices. What’s most interesting about this process to me is that, even though the results are massive, the steps, in the moment, don’t feel significant.”

Think about how an investment compounds overtime if the income is reinvested into new income-producing assets. Imagine what would happen if you applied this compounding strategy to what you
do on a daily basis? Here’s the formula you can use to compound your actions into an amazing life from the book:

“Small, Smart Choices + Consistency + Time = RADICAL DIFFERENCE”

Darren wrote about how one small change in your daily routine can have a very large ripple effect throughout your entire life. The cool part is that you can compound this ripple effect by being consistent with the new daily action.

“Everything in your life exists because you first made a choice about something. Choices are at the root of every one of your results. Each choice starts a behavior that over time becomes a habit.”

This means to change our lives we must examine our daily actions under a microscope. The reason why is because these daily actions are compounding whether we realize it or not. Go to Darren’s website and click on the “Free Resources” tab at the top. Now look for a worksheet titled “The Weekly Rhythm Register.” Download this
worksheet and print it out.

I have started using this worksheet and have found it to be extremely helpful. On this worksheet, you can list the new actions you will take on a daily basis. More importantly, you can track each
day throughout the week to monitor if you’ve completed the new action, or not. Remember, the key is to compound these actions by being consistent. You cannot compound your money if you don’t reinvest the income generated on a consistent basis. The same thing applies with your daily actions.

NO CONSISTENCY = NO COMPOUNDING

This little worksheet will help you compound your daily actions because it helps you stay focused. You list the new daily habits you want to form and use this simple worksheet to track your progress. You can list actions you want to take on a daily basis and actions you want to take on a weekly basis. As an example, you can list actions for…

People in your life (parents/spouse/kids)
- have dinner with my family each night
- date night with spouse each week

Your health (exercise/vitamins/nutrition)
- Eat less than 50 grams of net carbohydrates
- 30 minutes of weight training/cardio

Your business (lead generation/conversion)
- Set one new client appointment each day
- Generate 10 new leads each day
- Test new lead-generation advertisement each week
- Test new lead-conversion script each week

Self improvement
- Complete the Weekly Rhythm Register each day
- Read inspirational book – 30 minutes a day
- Journal or summarize ideas/lessons learned – daily

What daily actions do you need to perform in order to achieve your goals?  Work backwards and compound your daily actions into more income. The key is to be very strategic about
what you do on a daily basis. One of the most important sentences from Darren’s book is:

“You will never change your life until you change something you do daily.”

You won’t double your sales in 2012 if you don’t change something you do every day. You won’t be a better spouse if you don’t change something you do every day. You won’t be a better
parent if you don’t change something you do every day. You won’t lose weight and get in shape if you don’t change something you do every day.

So if you truly want to change your life, you’ve got to take this seriously. Read Darren’s book and print out his “Weekly Rhythm Register” and start using it to compound your daily actions into an awesome life.

Comments (2)
Categories : Goal Setting, Uncategorized

Book Recommendation: The Compound Effect

By Rob Minton · Comments (0) · Sunday, January 15th, 2012

The book titled “The Compound Effect” by Darren Hardy caught my attention so I downloaded it on my Kindle. Even better, Darren Hardy started in business as a real estate agent in California, so it’s easy to adopt his ideas for our businesses, because he has walked a similar path. Today he is the editor of Success Magazine.

The idea behind his book is that our daily actions can be compounded into an amazing life. However, we have to plan these daily actions and ensure they will lead us where we want to go. We cannot haphazardly go through each day. We have to make specific actions that will compound over time and we have to put a great deal of thought into these daily actions. This isn’t the case for most people. Most people go through each day following the same routine without thinking about compounding. From the book…

“The Compound Effect is the principle of reaping huge rewards from a series of small, smart choices. What’s most interesting about this process to me is that,
even though the results are massive, the steps, in the moment, don’t feel significant.”

Think about how an investment compounds overtime if the income is reinvested into new income-producing assets. Imagine what would happen if you applied this compounding strategy to what you do on a daily basis?

Here’s the formula you can use to compound your actions into an amazing life from the book:

“Small, Smart Choices + Consistency + Time = RADICAL DIFFERENCE”

Darren wrote about how one small change in your daily routine can have a very large ripple effect throughout your entire life. The cool part is that you can compound this ripple effect by being consistent with the new daily action.

“Everything in your life exists because you first made a choice about something. Choices are at the root of every one of your results. Each choice starts a behavior
that over time becomes a habit.”

This means to change our lives we must examine our daily actions under a microscope. The reason why is because these daily actions are compounding whether we realize it or not. Go to Darren’s website at: http://www.thecompoundeffect.com and click on the “Free Resources” tab at the top. Now look for a worksheet titled “The Weekly Rhythm Register.” Download this worksheet and print it out.

I have started using this worksheet and have found it to be extremely helpful. On this worksheet, you can list the new actions you will take on a daily basis. More importantly, you can track each
day throughout the week to monitor if you’ve completed the new action, or not. Remember, the key is to compound these actions by being consistent. You cannot compound your money if you don’t reinvest the income generated on a consistent basis. The same thing applies with your daily actions.

NO CONSISTENCY = NO COMPOUNDING

This little worksheet will help you compound your daily actions because it helps you stay focused. You list the new daily habits you want to form and use this simple worksheet to track your progress.
You can list actions you want to take on a daily basis and actions you want to take on a weekly basis. As an example, you can list actions for…

People in your life (parents/spouse/kids)
- have dinner with my family each night
- date night with spouse each week

Your health (exercise/vitamins/nutrition)
- Eat less than 50 grams of net carbohydrates
- 30 minutes of weight training/cardio

Your business (lead generation/conversion)
- Set one new client appointment each day
- Generate 10 new leads each day
- Test new lead-generation advertisement each week
- Test new lead-conversion script each week

Self improvement
- Complete the Weekly Rhythm Register each day
- Read inspirational book – 30 minutes a day
- Journal or summarize ideas/lessons learned – daily

The best way to use this worksheet is to think about the goal you want to achieve and work backwards with your daily actions. Be very strategic about
what you do on a daily basis. One of the most important sentences from Darren’s book is:

“You will never change your life until you change something you do daily.”

Your business or income will not change in 2012, if you don’t change something you do every day.

Comments (0)
Categories : Books, Goal Setting
Tags : compound effect, darren hardy, goals, real estate, Sales

Never Break The Chain – The Productivity Secret of Jerry Seinfeld & Dan Kennedy

By Rob Minton · Comments (1) · Monday, September 26th, 2011

I recently read an article on Lifehacker.com where the writer shared Jerry Seinfeld’s productivity secret. The author, Brad Issac met Seinfeld and asked him how to become a better comic. Seinfeld’s answer was…

“Never Break The Chain”

Seinfeld went on to suggest that the way to become a better comic was to write jokes every day.

Makes sense, doesn’t it?

By writing more jokes, you would become a better joke writer. The reason why is because what you focus on improves. Seinfeld went one step further and suggested using a large wall calendar to help reinforce the daily habit of joke writing. Each day he wrote jokes, he would mark a red “X” on his wall calendar:


The key, according to Seinfeld, was to never break the chain of “X’s.” This simply means that Seinfeld forced himself to write new jokes every single day. This one daily focus helped him become one of the highest paid comedians in the world.

As I read this article, I remembered something Dan Kennedy shared with me years ago. Dan told me that business owners should do something every single day to get new clients and customers. In fact, this is what Dan does personally. He does not let a day pass without doing something that will bring in a new customer at some point in the future. Dan is always thinking about what he calls – “The Future Bank.” The “Future Bank” is the income and wealth that will be created from a new customer and the only way to build the “Future Bank” is to focus on increasing it every single day.

By combining Seinfeld’s calendar idea with Kennedy’s focus, we can create more profitable businesses. Simply Google “calendar” and print out a calendar page for each month and keep it on your desk or wall. You want to be able to see this calendar all of the time. Set a goal to do something every single day to get a new client. Each day you do something to get a new client, mark you calendar with a red “X.”

NEVER BREAK THE CHAIN OF RED “X’s!”

Additional Related Reading:

How to Automatically Convert Prospects into Appointments

How Real Estate Agents Can Create Money Out of Thin Air


Want to Own an Oil Well?

Comments (1)
Categories : Goal Setting, Marketing
Tags : dan kennedy, Goal Setting, lead generation, Marketing, productivity, seinfeld
Next Page »

Blog Updates


 

Popular Posts

  • Top 10 Reasons Why The Rent Was Late (Funny!) 57 comment(s)
  • “I would give anything to be healthy for just one day…” 36 comment(s)
  • 10 Lessons I’ve Learned in Life 32 comment(s)
  • How an Employee Stole $57,000 PLUS 4 Ways to Prevent This From Happening to You 23 comment(s)
  • The Permanent Portfolio – Financial Planning for Real Estate Agents 22 comment(s)

Recent Posts

  • Book Recommendation…”Failure is Obsolete”
  • How to Sell with Newsletters
  • If You Started in Real Estate Today, What Niche Would You Go After?
  • My Own Prison…
  • How to Abide in Business

Recent Comments

  • ndegwa on Andrew Carnegie’s Business Strategy
  • HJ Heinz turned his bankrupt horseradish business into ketchup empire | Business Insider | Financial Post on 98% Market Share – How A Pioneer Built an Amazing Business
  • Fort Collins Epoxy Garage Floor on The Ultimate Success Secret
  • Marivel Kagy on Which Is The Better Opportunity?
  • Rob on How to Build Your Own Websites Including Opt-In Pages, Sales Letters, Blogs and Membership Sites
runs on Builder by iThemes
Copyright © 2013 All Rights Reserved