Howdy Moguls, today we’ve got another great lesson from one of your fellow members, William Winterton.
Just a couple of months ago, William submitted an excellent lesson where he talked about the Future of Tenant Screening and a program that screens potential tenants and is quick, thorough, time-effective and exhaustive. Yay, awesome and helpful computer program!
Well, he’s back for more, having taken advantage of our Mogul Publishing Program, which is a pretty cool way to contribute to our Mogul community. (You should give it a go and submit a relevant REI lesson!)
William is an active investor and rehab money lender in several states and today he’s brought us yet another awesome lesson talking about the dos and don’ts of business cards in our industry.
Well, thanks for the great lesson William, take it away...
Of course I'm a real estate investor – it says so on my business card!
It’s time for the moment of truth: When you first got into business for yourself, whether it be as a real estate investor, or joining an MLM, or even if you just started a lawn care business with your cousin Herb… What was the very first thing you did?
If you ask 10 people, 9 of them will admit they ran out and got a business card. And not just one- probably more like 500…
They might have even upgraded to the nice card stock. Glossy, double-sided, full color, which they hoped would yell to the world: “Yeah baby, I’ve got a REAL business! I’m somebody super important – in fact, I’m the President of my own company… it says so on my cool business card.
Next question…
Of those 500 business cards that you bought on day 1, how many are still in the original box? If you’re like most people, I would guess about 450… maybe more. Right?
How do I know this? Because I used to have boxes of business cards in my home for all sorts of businesses I started. Businesses that were gonna “make me wealthy enough to never have to work again!”
I can sense that you’re nodding your head as if you understand exactly what I’m talking about.
A very powerful secret awaits you.
So this secret – I’m not sure anyone’s ever really said it before, so I feel compelled to reveal it to you now…
Read this next sentence very carefully:
No one ever succeeded in business by trying to look like they’re in business.
Prove me wrong. I dare you.
The truth is ANYONE can start a business. Anyone can incorporate. Anyone can register a domain name. Anyone can create a logo, order business cards, buy pens, paper, a computer, a printer, a desk, chair, lamp, a nameplate and one of those fake office plants…
All that stuff is fine, but it doesn’t get you any closer to being a real entrepreneur any more than sitting in the cockpit of an F-16 makes you into a fighter pilot.
A true investor goes after the next deal like a bloodhound. They scour Craigslist, newspaper classifieds, foreclosure listings, auctions... and they aren’t afraid to make phone calls. I have a very good friend who’s killing it in real estate – she worked her butt off and did 2 deals in her first 90 days. Then she got business cards and incorporated her company.
That’s just the opposite of what a lot of people do. She didn’t care about whether she looked like she was doing business… she took action, and now she’s making great money!
Get the message.
Quit trying to look the part. Be the part! It’s harder, but it’s infinitely more effective.
When a brand new investor approaches me and asks what they should do first, I always tell them to join their local REIA. Talk to the people there who are actually doing deals, and avoid the “tire-kickers.” They’re easy to spot… they usually do the most talking, but start stammering when you ask them how many deals they’ve closed in the past 6 months.
I also recommend that you go through groups on LinkedIn and connect with people, and get to know your Mogul network. But beware – it can also be a trap… if you spend your whole time “connecting” with people, but never actually going after any leads and trying to score your first/next deal, then all you’re doing is wasting a bunch of time.
Wanna succeed? Then you need to get busy. Hit the streets and start making offers. Connect with money lenders, brokers, real estate agents, wholesalers, contractors, and most importantly, motivated sellers.
As for your business cards, you can always enter them in the drawing for a free lunch at your neighborhood restaurant.
A final funny from Mogul.
We hoped you enjoyed the funny and clever business cards throughout this lesson that we found while doing our research for images for this lesson. Even though this lesson is about waiting to invest in business cards until you’re a real, legit REI businessperson, we thought y’all might get a good laugh from ‘em. And, if you’re still wantin’ more, check out this page of laugh out loud cards.
Holla at us
Do you have a ton of business cards keeping you pens and paper company? At what point did you decide it was the right time to buy business cards? We wanna hear all about that stuff in the comments section below.
Decide you are serious about REI.
Take action to find deals and network with other REIers.
Buy business cards and incorporate your REI business only after you can confidently say you’ve closed a couple deals and are prepared to continue to do so with everything you’ve got.