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Hey All,
My Current 6 Figure Business-
I have been in the Real Estate business 8 years and I have found some success ( 6 figures, Not 7 Figures). However, I have grown to really dislike the hamster wheel of chasing the next deal. When I started I was a beast and super hungry for success, but as I found success I realized I really disliked the process of doing the actual service ( Listing homes, Showing homes, dealing with unreasonable people ect) Some clients take months to buy while others may only take weeks. Some choose to not buy or sell at all after you have invested months into them. This leads to a ton of time wasting. There is nothing worse than wasted time. I think the business is a excellent way to get to 6 figures but I can not see it taking me to my big long term goals.
After some years I decided to build a team and pass off all the fulfillment to the Agents on my team and take a split. We now have 9 agents. This is much better but it is not the total answer because recruiting quality agents is long draw out process and expenses/ paying agents really takes a large chunk of the margin. Not to mention when things go wrong in the files I usually get pulled back in to fix them due to my experience level.
Not all businesses are equal ( 2k per month online ) -
Next I dove into the world of affiliate marketing. With some time I learned email marketing, content marketing, landing pages and funnels. Next I am looking to get myself the skill of running paid ads. The best part is this makes over 2k per month and it works all day and night. I get affiliate commissions at all different hours of the day. No time wasting and I am building something truly discounted from my time and it feels good!
However, being a student of the Fastlane book series I do realize I lack the element of control with affiliates and I need to build a product of my own so I can keep control and build asset value.
What is next?-
I am a big action taker with age I realize that not all business are created equal and pouring my time and effort into the wrong model will not get me to my goals. In fact it will just burn more time. I am already 31! Time FLYS
The two big opportunities I am looking at are Social media marketing agency vs Education business.
Education Business-
I like this idea because I feel there is a major need in the market for the education I could offer. I also love that it is something that can exist detached from your time once you have funnels and conversions happening. Another pro is the high profit margins and the lack of staff to manage. I also like the high cashflow potential and scalability.
I do not like this idea because courses are a 50/50 game and if the students do not do the work they will fail. I want to deliver a good product but I know not all will do the work. Also, courses have a very bad reputation.
Social media marketing-
I like this business because there is a big need for high quality marketing. I also like it because I have real skill and passion to fulfil the actual service. I also like the reoccurring revenue factor. Charging someone $1,500 a month and getting paid as long as you retain the client is a nice model. I can see it producing a more predicable income.
However, I do not like that this is another service business and although my time can be detached somewhat with a team of contractors It still takes time to manage them and ensure all clients are happy making this model much harder to scale.
I would love to hear different perspectives. Where would you invest your time next?
My Current 6 Figure Business-
I have been in the Real Estate business 8 years and I have found some success ( 6 figures, Not 7 Figures). However, I have grown to really dislike the hamster wheel of chasing the next deal. When I started I was a beast and super hungry for success, but as I found success I realized I really disliked the process of doing the actual service ( Listing homes, Showing homes, dealing with unreasonable people ect) Some clients take months to buy while others may only take weeks. Some choose to not buy or sell at all after you have invested months into them. This leads to a ton of time wasting. There is nothing worse than wasted time. I think the business is a excellent way to get to 6 figures but I can not see it taking me to my big long term goals.
After some years I decided to build a team and pass off all the fulfillment to the Agents on my team and take a split. We now have 9 agents. This is much better but it is not the total answer because recruiting quality agents is long draw out process and expenses/ paying agents really takes a large chunk of the margin. Not to mention when things go wrong in the files I usually get pulled back in to fix them due to my experience level.
Not all businesses are equal ( 2k per month online ) -
Next I dove into the world of affiliate marketing. With some time I learned email marketing, content marketing, landing pages and funnels. Next I am looking to get myself the skill of running paid ads. The best part is this makes over 2k per month and it works all day and night. I get affiliate commissions at all different hours of the day. No time wasting and I am building something truly discounted from my time and it feels good!
However, being a student of the Fastlane book series I do realize I lack the element of control with affiliates and I need to build a product of my own so I can keep control and build asset value.
What is next?-
I am a big action taker with age I realize that not all business are created equal and pouring my time and effort into the wrong model will not get me to my goals. In fact it will just burn more time. I am already 31! Time FLYS
The two big opportunities I am looking at are Social media marketing agency vs Education business.
Education Business-
I like this idea because I feel there is a major need in the market for the education I could offer. I also love that it is something that can exist detached from your time once you have funnels and conversions happening. Another pro is the high profit margins and the lack of staff to manage. I also like the high cashflow potential and scalability.
I do not like this idea because courses are a 50/50 game and if the students do not do the work they will fail. I want to deliver a good product but I know not all will do the work. Also, courses have a very bad reputation.
Social media marketing-
I like this business because there is a big need for high quality marketing. I also like it because I have real skill and passion to fulfil the actual service. I also like the reoccurring revenue factor. Charging someone $1,500 a month and getting paid as long as you retain the client is a nice model. I can see it producing a more predicable income.
However, I do not like that this is another service business and although my time can be detached somewhat with a team of contractors It still takes time to manage them and ensure all clients are happy making this model much harder to scale.
I would love to hear different perspectives. Where would you invest your time next?
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