People have asked, “Where’ve you been?”
And, the reason why I’ve been gone…. (well, I’ll explain below in a few business lessons so you get some value out this. )
As you might know, I’m also in the land business. I buy and sell vacant land. But, as you also know, I was writing daily emails creating an info publishing business at the same time. This little juggling venture taught me a few things, and forced me to make some tough (but profitable) decisions.
So, here layeth a few business lessons taken from my frustrations (and stupidity).
1. You can’t build two businesses at the same time, dummy.
I was in the middle of creating two business: land flipping and info publishing (creating and selling information/content). But, I was getting nowhere with both; tires were spinning bald.
It’s just pure idiocy to continue to think that, as a newbie businessman, you can build two at a time (while working an average of 55 hours every week and with 3 kids and a wife at home).
It’s ok, to throw your seeds out there to figure out what works for you, at first… but once you figure out what’s going to be your main focus, you need get on that horse ASAP, and stop fudging around with others.
Sure, you can get back to the others once you get your first trip handled, but not until the first is fixed.
2. Your acres of diamonds is in your own backyard
I had to choose, either land flipping or info publishing. Although I really enjoy writing every day and creating content… eventually quitting my w-2 is my goal (that’s freedom to me).
However, making money in internet marketing and information is a new experience for me, compared to real estate; It takes a another skill set and learning curve (which means more time).
Real estate is my acres of diamonds. It’s making money for me right now and there is a definite light at the end of the tunnel.
You could completely miss your “acres of diamonds” because you think the grass is greener on the other side. Utilize what works for you now and what you’re good at. Adjust your business/investing model to your life situation and do what works and makes money for you today…. remember, money is attracted to speed, and skills and businesses build on each other.
3. Focus on what your goal REALLY is
My goal like I said, is to eventually quit my w-2. But, I need to have a few safeguards in place, like having a few income sources, a hefty “screw you fund”, and enough notes to support a monthly bill. So, to get to that goal the fastest (one business at a time), the decision was obvious to me: Land was going to be the fastest income source to build compared to the others (and the easiest to automate and outsource). Doing this first, was going to be the surest and easiest way to get to my goals.
Not only would this decision do the obvious like build an income stream quickly… but it will also build confidence and skill levels to make the next biz-start-up a little easier.
So, anyway, there’s your 3 business lessons taken from my frustration… but it ISN’T my “adios amigos” final-farewell-letter. Although I won’t be writing daily… I also won’t be leaving you in the dust either. That’s why, I’ll continue to write an article to you and post it on the website every week.
“But wait! doesn’t that go against your focus”…
yes it does, you’re right. But, writing is my craft. And you have to practice what you’re good at or you’ll lose it. So, I think (I hope), I can make time for a small (but powerful) 30-min article every week for your britches.
Paul do Campo’s views and opinions do not represent the opinions and views of any speaker of MMTNG.
16059 Begonia Ave
Chino CA 91708
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