A Guide to Loving Your Business
Do you want to take the world by storm with your real estate investment business? Search no further because successful real estate investor, turned business coach, Shaun McCloskey can help you.
Shaun has flipped more than 300 houses over the course of 17 years. Today, he coaches the nation’s top real estate investors through his mentoring company called Leadership BoardRoom.
At REI Bootcamp 16, Shaun shared his insights into the real estate world to those who attended. Don’t worry if you didn’t go because we took notes for you.
Our videos and articles are here to catch you up to speed.
More Is Not Always Better
“I get to see the best of the best of what works, and I get to see the worst of the worst of what doesn’t,” Shaun said during his lecture at REI Bootcamp 16.
Here are 2 examples of what Shaun has seen of the best of the best.
There are different business models investors can take, according to Shaun. You can either develop a large business with several employees or a small business with perhaps only one employee or none at all.
One of Shaun’s top students has a large team that helped him flip 800 houses in 2018. Another top student flipped 3 to 4 houses in 2019 and only has a part-time assistant.
Both students make very profitable returns on their investments, so “More is not always better,” Shaun said.
“You don’t have to do 800 deals to have a good life.”
Don’t Reinvent the Wheel
Which business model is right for you? The one that has already been proven to work, according to Shaun.
Shaun studied business practices from several other business leaders. He then developed his own real estate investment company based on what he learned.
“I followed all of their plans,” Shaun said. “When I started learning, I said ‘If I’m going to do this and be successful like them, I need to stop trying to reinvent the wheel.’ ”
If someone alters a proven business practice, they will not get the same outcome as someone who followed the practice completely.
Thanks to the advice and guidance from successful mentors, Shaun’s business reached a point to where he and his team were flipping up to 70 houses a year.
Catch Your Dream
“If they have a phenomenal business and a crappy life, that’s a recipe for disaster,” Shaun said.
As Shaun’s real estate investment business was growing, so did his finances. Closing a deal or not within a certain length of time could make or break all of his hard work.
His mind was constantly thinking about the next deal in order to extend the life of his business.
“It wasn’t that I was broke, it’s just that every single month, we had these expenses coming in,” Shaun said. “They never slowed down.”
On a trip to Cancun with his family, Shaun kept worrying about his business. His wife pointed out that he was not giving his family his undivided attention outside of the office.
Shaun discovered that this mindset of never leaving the office was something he and his mentors had in common.
His business that he was once passionate about turned into a job that he resented. Shaun took a step back and reevaluated his business choices.
He eliminated tasks that made him unhappy and started doing tasks that brought him joy.
To help others become prosperous in their everyday lives, Shaun created this 4 stage guide.
Stage 1 – Dare to Dream
Envision a business that you’re going to love and envision the profit potential.
Determine pieces that you’re going to love about your dream and pieces that you’re going hate about your dream.
Close your eyes to imagine your ultimate dream. Do not put filters on your dream.
Stage 2 – Know Thyself
Know what you’re good at and know what you’re not good at. Know who you are and where you fit in.
Here are some tools to help you figure these things out:
Tony Robbins DISC – a test that measures behavior.
Kolbe A Index – a test that measures a person’s instinctive method of operation and explains the best ways to be productive.
Unique Genius Zone – Ask friends, family and colleagues what they think your best qualities are and the things you are good at doing.
Ikigai – a Japanese concept meaning a “reason for being.” This includes what you love, What you’re good at, what you can be paid for and what the world needs.
Stage 3 – Define Where You Are Right Now
Ask yourself: What stage are you at with your dream?
Stage 4 – Bridge the Gap
Shaun talks a lot about the importance of bridging the gap from where you are to where you want to be. This stage can’t happen unless you complete stage 1.
The fastest way to bridge that gap is to surround yourself with people who are doing the same thing as you are doing.
The quality of your life is determined by the expectations of your peers. Get involved in a mastermind and set up your game.
Want to Learn From Inspirational Speakers Like Shaun?
At REI Bootcamp, we bring together some of our top users from across the country to tell their stories and teach you how they’ve built a business they love.
Our next Bootcamp is right around the corner, and tickets are still in Early Bird pricing.
If you want to learn how to build a business you love, REI Bootcamp is an event you can’t afford to miss.
To learn more, and grab your discounted tickets today, please visit www.reibootcamp.com.
What You Should Do Now:
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- If you’d like to learn the exact strategies our power users are implementing to generate motivated seller leads consistently, check out our Motivated Seller Guide.
- If you’d like to learn how our team can build out your REI Blackbook system FOR you, head to our implementation page.
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