Flip This Wholesaler

Greetings!

It’s time once again for another fantastic book review by Mrs. Shae Bynes from GoodFaithInvesting.com!

Sorry I’m a little late getting it to you this month, but better late than never, eh?

This month, Shae will be reviewing No BS Time Management for Entrepreneurs, by Dan Kennedy. (Side note: Could entrepreneur be any harder to spell? Geeze.)

For those who read the book- I hope you liked it!  I thought it was an excellent read, and considering the fact that my time management skills are in need of a major overhaul (thanks Facebook!), this was also a timely book choice for me.

Anywho, here’s what Shae had to say about it…..

………………………………………………………………………………………………………………………………………………………………

This month’s Flip This Book Club selection, No B.S. Time Management for Entrepreneurs, was the first book I’ve read from successful entrepreneur and author Dan Kennedy. It’s clear why he brands his books “No B.S.” — the dude pulls no punches! There is quite a bit of no-nonsense practical advice in this book (along with the occasional rant), but I have to admit that I’m still scratching my head at how Kennedy has practically eliminated the use of cell phones and emails from his business life as methods of communication (he opts for faxes because he says people put more thought into the content of them).

Nevertheless, I want to first point out that there were several great nuggets of wisdom about time management and success in this book….words worth typing up and posting on your wall or somewhere else where you can see them and remind yourself regularly. Here are some of my favorites:

- Self-discipline is the magic power that makes you virtually unstoppable.
– Delegate or stagnate.
– No one who is good at making excuses is also good at making money. The skills are mutually exclusive.
– The more decisions you make and the faster you make them, the more productive you are.
– Good enough is good enough.

Kennedy talked about a technique he uses to focus and avoid majoring in minor matters: Identify and write down the three most important, most significant, most productive, most valuable things you can do to foster success in your particular enterprise. Then translate them into three actions you can take each and every day. He noted that even though some people may find writing down lists to be confining, he’s never known or met a successful entrepreneur who wasn’t a list maker.

To illustrate the importance and benefits of taking massive action, he shared a story about how a dentist with a struggling practice made a list of 300 things he needed to implement to turn things around. He simply did 10 items from the list each and every week for 30 weeks and without increasing marketing or advertising expenses he managed to QUADRUPLE his business! Pretty powerful.

We all know that sometimes we fail to hit our goals. When we do fail, some people will reset the same goal with a new deadline and others may create less aggressive goals, but Kennedy handles these situations a bit differently by creating a similar but bigger and more exciting goal with a new deadline. This way he’s able to stay motivated and focused rather than lower the bar or waste time with disappointment.

For the benefit of those who didn’t read the book, I thought I’d end with Kennedy’s excellent definition of productivity and 4 of the many time management techniques discussed in the book. I suspect you’ve heard some or all of these before but never hurts to remind yourself because we can all do better with our time management!

Definition of productivity: Productivity is the deliberate, strategic investment of your time, talent, intelligence, energy, resources, and opportunities in a manner calculated to move you measurably closer to meaningful goals.

4 Time Management Techniques Really Worth Using

• 1. Tame the phone: Take few if any incoming calls. Return calls at your convenience. This is the #1 source of interruption and distraction for most people.

• 2. Block your time: Make inviolate appointments with yourself. Block out time to handle specific reoccurring aspects of your business. If you block time for important, high-value functions you perform, you prevent demands of others from moving these activities from number one to number ten on your list over and over again. This one technique has enabled Kennedy to write at least one book per year publish two monthly newsletters for 8 consecutive years.

• 3. Practice absolute punctuality: Being punctual gives you the right — the positioning — to expect and demand that others treat your time with respect. Kennedy feels so strongly about this one that as a general rule of thumb, he will use a person’s punctuality (or lack thereof) to determine whether he wants to do business with them.

• 4. Profit from “Odd-Lot” time: Turn driving time and waiting time into educational times to learn a foreign language, improve your memory, or essentially learn about any and every topic from experts. Take advantage of audiobooks and podcasts.

For those who read No B.S. Time Management for Entrepreneurs, what were some of your favorite tips or techniques? Have you mastered any time management techniques that have substantially increased your productivity?

…………………………………………………………………………………………………………………………………………………………………..

Thanks, Shae, for another outstanding review!

Looking forward to hearing what the rest of you guys thought about the book….

10-4, over and out.

P.S.
Next month’s book club choice is the legendary,  Think and Grow Rich, by Napoleon Hill.  I’ve read this one several times before, but it’s such a fantastic read that I’m looking forward to going through it yet again.

P.P.S.
If you’re short on cash- you can get this book for free all over the internet- here’s a Google search with a bunch of different places to get it.  So now you have no excuse to not read it, and I expect to see you all here on August 16th @ 8pm to discuss!

P.P.P.S.
If you weren’t able to get in on the call I did last night with Joe McCall about wholesaling lease options, you can catch the replay here- it’ll be up until Sunday at midnight, so mosey on over ASAP to get your learn on!

Happy Monday Blogosphere!

So, I ended up meeting Ray yesterday to get a deposit and sign the contracts for the deal I wrote about in my last post. We met at Starbucks at 4pm and ended up sitting there shooting the breeze for almost 2 hours. (Note to self: drinking a venti Dark Cherry Mocha Frappuccino @ 4pm is not a good idea- I was up until 2am staring at my ceiling).

Ray’s a super cool dude.  He’s been buying properties in Tampa for the last 15 years, and owns 17 rentals free and clear right now. Nice.  He said he’s been patiently waiting for the right time to jump back in and start picking up more rentals, and he recently decided that now is the time.

The closing on this one is scheduled for the 30th of this month, but it’s an REO, so you never know if that will actually happen. I’m spilitting this one 50/50 with one of my wholesaling buddies, so we’ll each make 3k on it when all is said and done.  Not a windfall, but better than a sharp stick in the eye, eh?

So that’s the scoop on that….

In other news- I mentioned in a previous post that I’m hosting a live training call this Wednesday, July 14th @ 8pm, and I’ve finally got all the details for you about that!

My guest for this event is a fellow student of Steve Cook, and he’s been doing some serious butt-kicking up in St. Louis.  He’s wholesaling properties, but with a twist!  Instead of going after the same type of deals that everyone else and their Grandma is, he’s found a way to profit from the deals that most wholesalers and investors are leaving behind.

Aside from the fact that the market he is targeting is virtually untapped (no competition from other wholesalers/investors), his lead source for these deals costs zilch, and his risk in each deal is limited to only a few bucks (no large earnest money deposits required!).

To reserve your seat on the call (and also to watch the quick video that we recorded), just click on the box below and you’ll be taken to the signup page…

***Once you sign up, make sure to check your email for the confirmation link- you’ll have to click on that in order to secure your spot for the event!

See ya there on Wednesday!

P.S.
Flip This Book Club will be meeting here this Thursday @ 8pm (sorry- it’s a few days late!). Shae Bynes will be reviewing this month’s book- No BS Time Management for Entrepeneurs by Dan Kennedy.