As a licensed contractor and real estate broker, I’m constantly inundated with emails of products which will cause me to make tons of money if I buy into their hype. I often attend conventions where many other products and coaching companies pitch their wares which will be the “Silver Bullet” to my success as I make strides against my competition. I walk through and bookstores and grab the latest self-help manuscript that proclaims great wealth for me, if I follow their plan. I, like many others have purchased programs, coaching CD’s, books, attended seminars; looking for that Silver Bullet that will give me a step ahead of my competition, and just like my competition, I discovered that the Silver Bullet was nothing more than chrome plated hype. But all was not for a loss, I did gain some knowledge and a few tips, which some have helped me gain additional income.
Being the skeptic, I recently turned my nose up at webinar which, my wife bought into the initial hype of great wealth from a side business as a contractor (as I am a licensed contractor). What I found interesting was - Realtors in Florida would find themselves in hot water, taking on the roll of contractor, as you must be certified by the state to be a licensed contractor. What it did offer me was a different approach to areas of which I never thought of, to where I did further investigation, got additional training which opened me up to a different market and we just recently was presented with a fifty-thousand dollar contract, that I wouldn’t have had if I had not been part of the webinar. It wasn’t a Silver Bullet and I will have some different sub-contractors that I will have to deal with, but that additional cash in my account will come in handy.
The saddest part of my business is I evaluate REO’s and foreclosed properties for repairs and debris removal, (in which many have been Realtors and contractors homes), where I find a multitude of books, CD’s, and more often, unopened training materials that I know had cost hundreds of dollars. It never ceases to amaze me the money spent, looking for that Silver Bullet in which the person never took the time to remove the packing material and actually use the product. I often question - was the pitchman that good or the thought of sitting through all that training information that tedious? What our agents will find in our office is an open library of this information, free for them to use and we never promise them a Silver Bullet.
What I will encourage agents to do is focus on your strengths and if you need a tool to assist you in with your strengths, buy it, (or get lucky enough to find it in a foreclosure or find it on the shelf of you office library).
We recently bought into an investors program that has really paid-off for us, as we started in the real estate business as investors. By utilizing the tool, we have developed a following of investors. No Silver Bullet, just another tool setting us apart from our competition. The product would not work for everyone, but it has made a huge difference in our business model.
The real “Silver Bullet” lies inside those who are willing to make that extra effort to set themselves apart from their competition. Before you jump on that next “Silver Bullet,” I encourage you to evaluate your strengths and ask yourself - how will this product or service really assist me? What can I really expect, as a return of investment, from this product? Will you actually use the product or will the packing material get in your way? So don’t be afraid to explore the tools waiting for you, enjoy the seminars and conventions but leave your credit cards and checkbook somewhere else so you have to walk away and think about the Silver Bullet.