In today’s episode, Jim talks about the unexpected ups and downs within Real Estate.
- How unpredictability can send your confidence into a downward spiral (1:25)
- The ‘lifeline’ to your business (2:30)
- Is too many listings a bad thing? Jim reveals the answer (5:00)
The unpredictability of a market can massively affect your confidence and the actions you take. If you’re uncertain about a market and you’re riding the roller coaster of ups and downs, it's impossible to be consistent especially when money is tight. (its no fun either)
Jim says that “if you can't predict your income in the next six months, you aren't running a business”. Knowing your numbers is critical and thinking ahead is important. JIm talks about the importance of having security savings that could help in tough times for up to three months.
The truth is that you cannot predict the future, but you can prepare yourself for it.
There's no downside to having too many listings in your inventory. The upside to having more houses under your belt not only puts you in the driver's seat but it means you've got all the houses people want to buy.
Today’s Question: Do you want to eliminate roller coaster income forever?
Today’s Challenge: Go and accumulate more inventory!
Do the real work and pay this episode forward to anyone you believe needs to hear it.