The biggest mistake you could possibly make for your real estate business is one that is costing you a fortune. Even real estate agents that have been in the business for years can experience these types of setbacks. All because they don’t invest in real estate training or real estate coaching.
How We Are Smashing the 7-figure Mark
This year, my business hit the 7-figure mark, back in July. And it was the earliest that we’ve done it in any year prior.
So I got to thinking…
What was it about this year, that was different from the past?
The answer became clear to me almost instantly…
At the end of last year and the start of this year, I started investing heavily in online courses and coaching programs. And by heavily, I mean just over $150,000.
I know that sounds like a lot of money, and believe me, it is – But that will equate to a 10X compounded return for this year, and every year after.
That’s when I realized that growing myself had a direct correlation to growing my wealth.
The more money I invested into training myself and my team, the more money we made.
Online Training is The New College
You’re in Las Vegas or Atlantic City next weekend, and you stumble across a broken slot machine. And this slot machine gave you 10 dollars back for every dollar you put in…Jackpot!
Would you ask yourself, “How much money should I invest?”
No! You would ask yourself “Where can I find as much money as possible to put in this thing, before they discover that it’s broken?”
That’s how you need to start thinking about investing in yourself, your team, and your real estate business.
For some reason, we have no problem spending hundreds of thousands of dollars in student loan debt to go to college – even though college makes zero promise of landing you a job or making you money.
But when it’s time to invest in an online course or coaching program – one that actually does help us get better at our jobs and make us money – we decline.
That is so backward.
We need to start accepting the fact that learning never stops.
I graduated with honors from USC, and I’ll be a Trojan for life.
But the truth is, I’ve made more money after taking one online course than I did after going to 4 years of college.
And this is why I would argue that online training IS the new college.
The Shocking Mistake That Is Killing Your Business
I’ve listened to audiobooks by expert authors. I’ve taken online courses by the best creators in their respective industries. I’ve coached with some of the most successful business owners on the planet.
And I’ve also done the same for all of the members on my team. If a team member wants a book, course, or coaching program – I buy it. I don’t even think twice.
But instead of adapting to this mindset, I see agents who…
Refuse to buy training that will help them grow their business.
Refuse to learn how to be a better leader to grow their teams.
Opt for the cheapest tools instead of the best tools.
Refuse to learn how to condition their mindset so they sabotage their own success.
Restricting your self-growth means you’re also restricting your wealth growth.
And until you learn that this is a massive mistake…
It’ll cost you a fortune.
The Big Payoff When You Invest In Yourself
The bad news is that you may have not invested in yourself and your team as much as you should have – and that will equate to a lack of growth.
But the good news is that you can turn that around, starting now.