It’s times like these…
Some people go skydiving! Actually, I think any time is good for a skydive.
Lyndon is now a qualified Parachute Instructor, and is pictured below with the first student he dispatched from an aircraft. (Well, she climbed out herself, and loved every moment of the experience)
Congratulations to Lyndon and my Dad, Ross Stockings, (who qualified with Lyndon) and all of their students!
It’s times like these…
- People talk about burying their money in the back yard,
- Wonder whether to sell, hold or buy,
- Contemplate cancelling that holiday,
- Cut back on staff,
- Get creative about their business,
- Take time out to think and create new approaches,
- Hire a Coach, a Book-keeper, a Cleaner – getting the right support so they can do what they’re best at.
Last week we had a coffee with a few Create the Life Club members & friends and we discussed (besides our childrens and pets antics) some possibilities in the current market. There are always possibilities, always an opportunity to “keep your head, when all about you are losing theirs” and reap the rewards.
What can you do in the current climate?
Look at what works for you! (Take some time on this! Write it down, check your statistics) Stick with it, do more of it if you need to. Consider what’s not working and ditch that. Don’t be emotionally attached to old ideas, and don’t let fear in the door.
A friend of mine was feeling the pinch, and cut back on her advertising. $3000 a month was just too much! However, sales dropped and she realized that if $3000 brings in an extra $6000, it’s not wasted. It’s so important to test and measure what you do.
If you’re looking for support in this way, let us know, and we’ll point you to the people or resources on the site or in our community.
One of our members, Margaret Bonnington, pictured above, helps businesses in ways such as this. She’s not just a lovely, clever Book-keeper, but an essential part of several businesses I know of who find her support and know-how invaluable.
What else can you do? Share your discoveries with others! Have you found a great deal, a new way of doing business, a great support network - such as Create the Life Club ☺ – let people know!
I love sharing my great discoveries, so you’ll find this newsletter cheering people on.
Besides Margaret, another fabulous business, one that helps us take care of the world we live in, is JR Richards. 
Greg Miller manages the Central West region, and is proactive in taking care of the environment and encouraging others to do so. He showed me around their premises and I’m very impressed. A little bit of care makes a huge difference. Did you know that making steel cans from recycled cans uses 75% less energy than using new materials? Another interesting little fact I discovered is that the energy saved from recycling one glass bottle will keep a light bulb burning for 4 hours!
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I love that these success tips we bring to each newsletter contain wisdom that goes beyond what the author specialises in. To be successful in one area is generally an indication of success across the board. It’s a mindset, a way of approaching challenges and opportunities.
Enjoy Hans Jakobi’s success tips today, and continue reading for some fabulous thoughts and an exciting offer. I’m off to the Gold Coast and will be back next week with some lovely photo’s and news.
Today's success tip comes from Hans Jakobi.
Commonly referred to in the media as "Australia's Wealth Coach", Hans' passion is sharing how to build wealth safely through positive cash flow investing.
If anyone can succeed in property no matter what their current financial circumstances are, what do you think holds people back from becoming property millionaires?
I think there are a few major areas where people fall down.
First, I have found that many people do not have a clear strategy for investment success. When they describe their portfolios to me, I can see that there is no structure or plan. What typically happens is that they see what they perceive to be an opportunity, jump in and hope for the best. While sometimes they succeed, I hear a lot of horror stories too.
My philosophy is that there are many strategies that can lead you to becoming a property millionaire. You need to choose one that works best with your personality, time, money, occupation and business constraints and focus on applying that strategy. I find that the people who are least successful are the ones who jump around like a kangaroo, trying many different things and mastering none.
Second, people simply don't do their research or due diligence work. I know that due diligence is not usually something that makes you money, but it can certainly save you from losing money. People often find it a pain doing the research because it takes time and effort and they would rather have everything brought to them on a silver platter. Little do they realise, when they don't do their research, they often get caught out and end up buying their properties at retail, or worse, paying far more than the properties are really worth.
I also find that after people have been looking for a property for a while, they can become frustrated and just want to buy anything so they can get on with the rest of their lives. People who succumb to this attitude often end up as shark bait. On the flip side, some people are held back from achieving success through doing too much research. I call it 'analysis paralysis'. It's important to achieve a balance between doing good research and doing so much that you can't come to a decision. Do as much as you need to convince yourself that you are onto a good deal and then have the courage to proceed.
Perhaps the biggest single factor that holds people back, however, is a four-letter word starting with 'F'. You guessed it: fear. There are many different types of fear, the major ones I have observed are:
* Fear of borrowing money, particularly against the family home.
* Fear of making offers below the asking price.
* Fear of negotiating on price or the terms of the deal.
* Fear of missing out on a good deal.
* Fear of not finding tenants or ending up with bad tenants.
These are all perfectly valid concerns for every property investor, but in order to achieve success, you need to think about each of these issues and find ways to overcome your fears and move forward. We all have fears and doubts and fear is not necessarily a bad thing because it stops you from jumping into a situation blind and getting caught out. It's when these fears paralyse you and stop you from moving forward that you need to find ways of overcoming them.
The way I deal with each fear is to look at the risks associated with it and consider what the worse-case scenario is. I then find ways of minimising my potential losses. When I have done everything I can do to protect myself, I go ahead and trust that I have made the right decision. If it turns out that I made a poor decision, I work out what to do about it and move on.
This website contains even more great tips from Hans Jakobi.
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