Tag Archive: Real Estate

The Two Sides of a Successful Small Business

yin-yangWe often encourage business owners to mentally step outside their business. You may find it helpful to look at your business through the lens of another industry.

For example, what if you thought of your business like the real estate business? Real estate has traditionally been one of the greatest creators of wealth.

Of course, there are many ways to make your money in real estate. We’ll use real estate development as our model because it’s the best analogy for start-up entrepreneurs and existing small business owners.

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Development and management

The two sides of the business are development and property management.

The development side is about locating the property, preparing it for construction and actually building it.

The management side is about leasing the property and maintaining it.

Both sides are essential

It doesn’t do you any good to develop a site if you can’t find any tenants. Of course, without the building, you don’t have anything to show the tenants so it’s a moot point.

Wealth and income, today and tomorrow

Development creates wealth in the future.

Management creates income today.

The problem we see with so many small business owners is that they’re stuck on today. Management consumes all their time. They don’t do anything to create wealth tomorrow.

It’s hard to do. We’ve walked a thousand miles in those shows.

We’ve learned that you have to work presently in the future. You have to spend a certain amount of time as a developer. Otherwise, your business will stagnate.

Develop the habit of spending some time today on tomorrow:

  • Start small – maybe 15 minutes a day just thinking.
  • At some point, you’ll find a project – a new market to pursue, a new product or service to create, a new business to start or buy. You may need to find a little more time each day to develop it. That’s okay – you’ll know you’re setting yourself up for more income tomorrow.
  • Of course, don’t forget to keep your current customers happy. You’ll count on this income to help you keep building your business.

It’s the yin and yang of entrepreneuring. Doing two things at once leads to BIGG success!

Would you like some help developing the next phase of your business? E-mail us at bigginfo@biggsuccess.com or leave a voice message at 888.455.2444.

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Image in this post from Noir

4 Types of Free Agents

freedomThis is the final installment of our five-part series on freedom. In the first three parts, we discussed the 3 levels of freedom – freedom of, freedom from, and freedom to. Last time we talked about financial freedom.

Now we want to talk about the freedom to spend your time however you want. If you can do that, we think you’re a free agent. We’ll identify four types of free agents today:

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The Aggressive Passive

Aggressive Passives let their money work for them so they don’t have to work. They make enough money from their investments to pay for their desired standard of living. So they are free to spend their time however they want.

The amount of money you need to be an Aggressive Passive is a lot less if you’re perfectly content not living lavishly than if you want to live large. But it’s life on your own terms, go for what you want.

In our last post, we discussed paths to financial freedom. If you want to be an Aggressive Passive – and you want it sooner rather than later – you’re going to focus on the wealth building path. Maximize income, minimize costs and build Assets – most likely your own business or real estate.

The Passion Player

Passion Players love what they do so much that they don’t feel like they’re working. In many cases, their hobby is their craft and their craft is their hobby.

We have a friend who had built up an incredible business and sold it off. Now he’s back in the same type of business only this time he’s doing it with no employees. He chooses his clients very carefully. He takes plenty of time off, yet he’s still doing very well money-wise. He’s thrilled!

You may choose to work inside a corporation and be a Passion Player. Just keep in mind that, in addition to your work, you must love working for and with the people around you. Since you only have one client – your employer – that may be difficult at times.

Inside or outside of a company, your focus as a Passion Player is building up your personal brand. It may make sense to do this while you have the security of a full-time job. But there’s also some real security – as well as freedom – in moving from an employer (which is like having only one client) to multiple clients.

The Automatic Pilot

Automatic Pilots don’t just sell a product or a service. They don’t just create a brand. These free agents build a business.

In that business, they develop systems and controls. The systems insure a consistent standard of the product or service they offer. The controls allow these free agents to step away from their business without fear of it falling apart.

While they develop their systems and controls, they also train a protégé who can run the business in their absence. Once the protégé is fully trained, the entrepreneur is a free agent!

The Synergizer Bunny

These free agents sit at the hub of a network. They tap that network to bring the best people to the table.

Synergizer bunnies don’t just do projects with others. Bigg success comes to them by creating entire businesses through strategic alliances. Everyone involved is well compensated and the customers receive a great value. It’s a win all the way around.

That’s the key to becoming a free agent of any type: Help others find ways to improve their lives and you’ll be a bigg success.

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Would you like more tips and tools to live your life on your own terms?
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Thanks so much for checking in on us today. Please join us next time when we’ll discuss one of the best assets to have today. Until then, here’s to your bigg success!

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Direct link to The Bigg Success Show audio file:
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Related posts

Three Levels of Freedom – Part 1

Three Levels of Freedom – Part 2

Three Levels of Freedom – Part 3

6 Paths to Financial Freedom

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