Coaching… seems to be a popular topic today, but what is coaching? Who should get a coach? And does someone really need a coach? So I figured I might as well have a conversation about it and I will share my thoughts and my own personal experiences when it relates to coaches and coaching.Continue reading
Real Estate is how I became a millionaire, and is a contributing factor to many of the millions that I have made, so clearly, I am a fan of investing in real estate. As I sit here in early 2021 and see what is going on in the real estate market I want to discuss what is happening and where the opportunity and risk currently is. We all know the basic idea of buy low and sell high, but the challenge is how do you know when it’s at the low and how do you know when it’s at the high?
Most everyone can recall, or at least is aware of, the crash of the market back in 2008. Back then banks were over lending funds and when the booming economy dropped, people weren’t able to make the payments on their properties and many people lost their homes. It was terrible for those that lost their homes, and a time of opportunity for people who were investors and were able to capitalize on it.
Now we are in 2021, certain markets in Florida, South Carolina, North Carolina, Tennessee, Texas, Arizona are seeing the real estate market at all-time highs as people are relocating to these states from larger cities, and states that have been in shut down because of COVID. In a lot of these states people can get larger homes, for lower prices than what they are paying in large cities. As a result, there is very low inventory and the market for an investor is very challenging right now. It’s becoming more and more challenging to get property at great prices in these places for investors. There is also a forbearance in place so people who can’t make their mortgage payments can’t be foreclosed on. Usually investors do well with finding people who are at risk of losing their home to be able to negotiate a better deal and that portion of the property market isn’t in play currently. It will come back, we just don’t know when and how it will roll out.
The opposite is happening in larger cities where people are leaving their places to go to buy homes in the suburbs or other cities and states all together. So, some larger cities are seeing pricing drop as the demand drops in those areas. There could be opportunities to purchase properties below market, but you have to have a strategy to hold these properties as flipping them isn’t going to be an option.
There is always money to be made in real estate if you know what your options are and you understand the market that you are doing business in.
I don’t have all of the answers but here is the best advice that I can give…
1. Don’t do a deal if it isn’t a great deal!!! Sometimes people want to do a deal so badly that they do a deal and it’s not a cash positive deal or doesn’t provide the returns needed for the time, energy and effort put into it. If the numbers don’t make sense don’t do it!! People are getting into bidding wars because they don’t want to lose and are forgetting what their max number is.
2. Know how to exit the deal! If you are flipping make it as fast of a turnaround as you can. If you are holding and renting make sure the rental rates are where you need them to be. Have your plan and make sure the numbers work with the plan.
3. Be ready!!! At some point the forbearance will end and it will change deal flow, so make sure you are ready for that. Know who you have to invest and what funding sources you have.
I will always be in real estate regardless of the market conditions, I will just adjust my strategies based on the market conditions. With the right information and experience you can adapt to anything and make it work for you!!
We all begin each year saying, this year is going to be my best year. For some people 2020 looked back at you and laughed in your face… and for others 2020 really was one of the best years on record for you and your business. There was an immense amount of volatility in 2020 and for some people that volatility took a lot from people. Others saw the opportunity and capitalized on it. There really wasn’t a right way or wrong way to take on 2020, unless you just did nothing.
Now we have made it to 2021…
When you looked at social media everyone was just waiting for 2021, like all of a sudden, the clock was going to strike midnight and a magic wand was going to reset everything back to pre-2020. That’s not how it works. We have started 2021 at an all-time high of COVID-19 Cases with cities and countries re-entering lockdown status, and a super-spreader version of the virus now spreading outside of the U.K. Positively we have a vaccine rolling out, but the roll out doesn’t seem to be going as quickly as most people would like it to. So how are you going to make 2021 work for you?
First thing we have to do is reset, readjust, and realign yourself and your business. You can’t wait for the magic wand to waive over you, you have to take that challenge on yourself. Your results are going to be the product of your thoughts, so what are you thinking and telling yourself? Are you telling yourself that you are going to have a great year, that your business will grow, that profits will increase… or are you doing the opposite? You have to take yourself back to zero and set the goals and objectives and how you are going to get there. If you don’t know the destination you want to get to how are you going to map the route, there? Define where you want to go first, then you can move on.
What are the obstacles in your way? Now that you know where you want to go it’s time to take a look at what potential things might be in your way, or the roadblocks that you need to plan for. Make sure the goals you have are realistic or achievable for this year. Are you trying to go from $100,000 in sales to $10,000,000 because that’s not a realistic plan for growth in 1 year, unless you know you have a product launching, and investment coming to scale or some crazy injection of clients or funds into your business to make a large jump happen? Roadblocks might be your own self-doubt or focus and time that you are spending on your business to get it where you want it to go. It could also be people you need to add to your team, systems you need to put in place or software that needs to be upgraded. Anything that can hold you back… maybe it’s even COVID-19 that is an obstacle.
Now how are you going to overcome those challenges? Is COVID-19 the biggest roadblock in your way, then you need a plan to overcome it and adapt and adjust because COVID is still here. Do you need to retrain your brain, do you need to build a new skill? You have to be able to overcome the things standing in your way otherwise you are going to be stuck in the same place and not be able to go anywhere.
Start to eliminate fear! Fear tends to be the thing that stops most people. You become so afraid of all the things that could go wrong that you never actually start anything. Removing fear is something that you have to conquer and do it quickly. You cannot let fear become a limiting belief that stops you from achieving your success, so you have to train your brain to remove fear. The more knowledge, the more coaching, and the more support you have the easier it is to remove fear. When you have a coach to help you make decisions it helps you gain more confidence in your decision making.
Have your benchmarks, KPIs, and measurements that keep you on track and keep you moving forward. You can look at what you want to accomplish in the year and break those down to monthly and quarterly goals that will help you build to your annual goals. This gives you a lot of smaller goals to accomplish along the way and help you track progress. If you are hitting the monthly and quarterly goals, why aren’t you and what can you change? If you don’t track anything you won’t get to your big goals and you won’t know what to adjust or change along the way.
Keep yourself accountable! Take your goals, set a day every month to go over the prior month’s goals. Did you hit them or not? If not, what went wrong, and how can you fit it so the issue doesn’t compound over the next year. Work with your coach on what your goals are and where you landed. They can help you figure out how to do more of what is working and less of what isn’t working.
Bottom line, reset, refocus, set the goals, remove the problems, and check in on your progress!
Leave a comment with your goals for 2021!!! And if you need help on reprogramming your brain CLICK HERE
I am who I am. My whole life they told me I would never make it. Everyday they spent all their time trying to take me down instead of bringing themselves up. They will say, make up, fabricate, ignore facts, twists the truth and create their own reality. It’s ok, my best revenge is to smile, continue to inspire and ignore what they say. I even forgive them and pray for them. Eventually they will have their judgement day. I am about to embark on a 21 day tour in 19 city tour and I have never felt better and more inspired to grow my businesses and help others do the same. Success is truly the best revenge, and I have been having it for 10 years and each year it gets better and better because of you! Your loyalty, trust and belief in me. Together things are going to be even better. I hope you join me on #MillionaireFlix cause I have so much to share.Continue reading
I am tough, I am persistent, I am a straight shooter, and I am literally like a Simon Cowell and Chef Gordon Ramsay of the speaker and business world. Some might say that I am 100% the opposite of Tony Robbins. The good thing about that is that we all have a spot in this world, different styles work from different people.Continue reading
#ChildrenAreTheFuture Do you want your kids to be a lion, sheep or snake? Your children never follow your advice, but instead follow your example. It was the first time in my life that I coached a group of kids aged 5 to 15 all at the same time by themselves, while the parents where being coaches in the other room. I found the kids to so pure and innocent in the outlook on life and free of all the excuses the parents usually give me. Continue reading
There is so much talk around bitcoin and cryptocurrency that it’s taking over our social media, the news and conversations from cab drivers to billionaires. Very similar to what happened in the early 2000’s before the dot.com bubble.
No one chooses the color of their skin, no one chooses where they were born, some will even argue that you can’t choose who you love. I travel and do business in 42 countries and I will tell you I have never seen a world more divided. We should be blessed that we live in a world where we have iPhone’s, technological advances, disruptive innovators and people who dedicate their lives to the advancement of this planet and humanity.
About 13 months ago I embarked in an experiment that I called Mega Speaker (click here). I created this event at first because I didn’t think there were enough female platform speakers on the circuit. Well, the Mega Speaker review results don’t lie. After 1 year I created more women and men speakers than anyone on the planet. I visited 25 countries and over 68 cities and I have seen people at their best and at their worst. I was also blessed to see a great group of entrepreneurs who truly want to live a life of significance and truly create a legacy for others. Sure the money is great when you are a speaker but nothing is more satisfying when someone says thank you for changing my life.
Mega Speaker is the brainchild of JT Foxx, who is the World’s #1 Wealth Coach and #1 Platform Sales Speaker on the planet. He initially created this free one-day event as a means to create more women speakers since he didn’t think there were enough of them in the circuit. JT has done Mega Speakers in 26 countries and over 50 cities, and the results are shocking. He has created more speakers and top coaches in the last year than anyone else.
Here’s a glimpse of what has happened.
As a serial entrepreneur and the world’s #1 wealth coach, I have come to see a disturbing trend. I do business and speak in over 40 countries all over the world, and I often find many businesses succumb to trying to model themselves after other successful companies; such as an Uber, or an AirB&B. They are comfortable with the thought of “as long as I grow, it doesn’t matter if I make money”. They think growth will one day equate to dollars. Amazon lost money for over 10 years before finally turning a profit and now they are worth billions. In fact, many of them were worth billions before they even made 1 cent. Silicon valley dubs them as “unicorns”. The definition of a unicorn company is one that is relatively young and new yet worth at least 1 billion and not one of them is making any money.
The problem for every Uber, and SnapChat out there, there are hundreds of thousands of other businesses that fail with this type of business model, and they are pretty much worthless.
I own many companies and brands and my philosophy is quite simple, I find ways to make money from day 1 when I start any company. Profits are more important than growth. In order for a business to survive today’s ever challenging economic times it must have sustainability, predictability, and consistency. I made the mistake a couple of years ago by growing too fast too quick and before I knew it, my profit margin went from 32.7% to 8.4%. In fact, I had to change my entire business model to stop the bleeding. So you if you want to succeed in business, here are my 3 best tips: