Residential Real Estate

Creating Cash Cow Systems

Have you ever met a dumb millionaire? I have, and it"s irritating. The thought that someone can be so simple-minded yet create such abundance in their lives can be frustrating for the rest of us who have to work hard for a living. So what is their secret? How can they achieve success without being perhaps as highly educated or technically sophisticated or even as socially connected as you or I? The answer is that they don"t have any secrets - what they do have is simple systems. Many of us sophisticated folks are always looking for the magic bullet opportunity; an idea or a sudden revelation that will leap frog us straight to the moon. The dumb millionaire has found something simple that works consistently. Some might call these Cash Cow Systems. These are simple repeatable business models that work consistently. These Cash Cow Systems are not magic and they don"t create instant success but they will create long term results. Let"s take a look at a few together: Eight Cash Cow Systems: Low-tech sphere of influence Your phone is sitting on your desk right now. How many of your past clients could you contact in the next hour? Personal contact is the cheapest most effective method of marketing. Start small - set a goal to call just three past clients a day and ask for a referral. Stop/drop/knock How many For Sale by Owners have you driven by in the last week? Be honest – Did you stop your car, drop what you were doing and go knock on the door? Here is your opportunity to begin modeling superstars. Make it a personal goal to knock three FSBO doors this week! Belly to belly Technology is terrific but nothing is as effective as meeting new people in person. How many cards have you personally handed to someone in the last seven days? Begin carrying 20 business cards with you each morning and make it a goal to have them handed out by the time you go home at night. Start with giving One easy system for building your business is helping others build their business. Ask every business owner you come into contact with – "How can I help you build you business?" – The return will be a mountain of referrals. All politics is local There are centers of power in every small town, large city, and rural community. These power centers can be instrumental in helping an agent build their business. Ask yourself who do I need to meet in order to tap into or become a part of the local power centers? Repeat success Many of the top producers in the country share one simple system. They have repeat customers who use their services multiple times a year. Ask yourself who moves a lot of real estate in your community? Examples are builders, investors, attorneys. Introduce yourself to them and ask for their business! Mailings How many pieces of mail did you send out in the last twelve months? Consistently mailings can help keep you top of mind among your sphere of influence, and the people that you are targeting. Build a long term plan by using a twelve month calendar. Also consider using a service like www.modernpostcard.com or www.expresscopy.com to do the actual hands on work. Work harder Have you ever heard the phrase – "By just showing up you can beat 95 percent of your competition?" This is also true in real estate because the secret is that almost any plan will work – the real question is will you work the plan? Find a simple system and work it! These simple cash cow systems can be adopted instantly by anyone, including you and the secret is – there are no secrets! What separates those dumb millionaires from the rest is of us is their willingness to do the simple things over and over and over! So are you willing to begin tapping into the power of repeatable success? If you said yes - I have a challenge for you: Choose just one of the eight ideas and implement the idea this week into your business.

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