“If there is no struggle, there is no progress.” – Frederick Douglass Have you ever heard of “Sudoku?” Sudoku is a number puzzle requiring one to fill-in multiple squares with the correct numbers in a sequential order. Several of the squares are pre-filled which helps provide both a starting point and a challenge. In some of the more difficult puzzles, the answers don’t come easily and over-coming frustration is part of the fun. One of my hobbies is conquering the Sudoku puzzles in the daily newspaper. As the week progresses, the puzzles become increasingly more difficult with the weekend edition being the most difficult. A friend of mine called me recently asking for advice in starting his new business. As many of you know first hand, starting a business can be frustrating at times and requires one to be patient and to “think outside the box” in order to get past certain stumbling blocks. I gave him the following “Sudoku puzzle” analogy in order to provide a different perspective. It is my belief that solving the puzzles parallels achieving success in both business and every day life. Many of you reading this post are entrepreneurial and likely understand the frustrations that come with the journey to success! Let me share with (and hopefully encourage!) you with what I shared with this young business person: The purpose of the Sudoku puzzle is to provide both mental stimulation and challenge. During the “challenge,” one may find that they’re excessively frustrated. This reveals that one might not understand the purpose or the goal. If you don’t enjoy the puzzle or the challenge that comes along with it, then get out of the game! Persevering in something in which you find no pleasure or enjoyment rarely equates to success! More often than not, there is no satisfaction in “toughing it out” for something you despise. Do not waste your time or energy if there’s no love or passion in your pursuit. To do so is just plain stupid! Ask yourself, “why am I starting this business?” If your goal is to merely fill in the squares of the puzzle, than just wait until tomorrows paper as it will already have the solution. But there is no joy in that pursuit as there was no “struggle” and there is no pride or satisfaction as the answers were given to you for free. This reminds me of those “privileged kids” we all grew up with. Some of them never had to work for what they had. However, the privileged kids whose parents made them work hard and appreciate what they earned typically went on to be just as, or even more successful, then their parents. Rich or poor, the “struggle” was the character builder that aided in their success. The joy is struggling and figuring it out the hard way...
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I just tossed this week’s Sudoku puzzle into the trash. Finally, I completed it. I didn’t keep it or pin it to the refrigerator because it was the “challenge” that I desired. The struggle was the purpose. Let me repeat that: THE STRUGGLE WAS THE PURPOSE! If the struggle in business defeats your spirit and diminishes your drive, you are not an entrepreneur. Furthermore, you will continue to fail in business. Have you ever noticed that the challenges that frustrate losers have a tendency to motivate the winners? Which are you? In Sudoku, the puzzle will solve itself as long as you don’t “force” the numbers. Follow the clues, use your logic, and let your skills find the answer. As a result, the puzzle comes together. Let the puzzle solve itself! Now, take that same analogy and apply it in life and business. Do what you CAN and don’t fixate on the part you don’t understand. Solve whatever you can now. Similarly, the most successful people are not afraid to say, “I don’t know.” Of course, you can’t just say “I don’t know” and give up. Complete what you CAN and then learn about what you didn’t know. Success doesn’t require you to have all of the answers now but it does require you to use what you DO know…now! If you wait until you’ve got it all figured out, it might be too late. Someone else may have already solved the puzzle. There are going to be many times when frustration seems to take over. When that happens, step away for a break; clear your mind and rejuvenate. Those of us with driven, type-A personalities do not like to step-away. We don’t like to take breaks. Rather, we tend to push harder. Many entrepreneurs “appear” to win by sheer will-power and refusal to be beaten. That’s noble but it is not realistic and it’s not how it works in the real-world in most cases. Research has shown that long-term successful business men and women discovered early-on that stepping-away from their frustration point and giving their mind time to rest and reset can be most rewarding! Sometimes, a quick 20-minute power nap is all you need to recharge your batteries. Problems can often solve themselves following a moment of rejuvenation. Here are a few examples of high-functioning, successful leaders who were also power-nappers: Napoleon Thomas Edison John F. Kennedy John D. Rockefeller Winston Churchill Lyndon B. Johnson Ronald Reagan Each challenge you win will prepare you for the next difficult challenge. We all need regular reminders that life is not about making things as easy as possible. I’m sure you’ve often heard the phrase: “work smarter, not harder.” I disagree. I live by the motto: “work smarter and harder!” Promoters of “big government” have convinced themselves that if politicians and bureaucrats...
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By following this simple painting method, you can increase the profit of your flips! ...
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What sets us apart from our competition? Most real estate investors would never share their secrets with the public…but we’re different! We want to share our wealth of knowledge to help make you more successful and profitable when it comes to your real estate investment(s). Over the next two weeks, I’ll be sharing with you “Five Ways to Make Your House Stand Out.” This week, we’ll address number one and number two from our list: #1. Be different from your competitors: Over the last twelve months, our company has flipped close to one hundred homes in the Chicago-area. Over 90% of those flips received “above ARV” offers! In today’s market, that’s rare. I’m sure you’re wondering “how” we were able to do that. The primary reason is because we rehabilitate our “flips” much differently than our competitors by providing the buyer what they want rather than giving ourselves what we want. Every buyer has an mental picture and checklist of exactly the type of house that they want. Most of those ideas come from a TV show, something they saw on the internet, or an idea they found in a magazine article. However, one of the biggest downfalls of investors is ignoring what a potential buyer wants and offer them the cliche “beige paint, white trim, beige interior paint, beige tile, brown carpet, beige tile, and brown cabinets.” Ask yourself: how many times have you watched those popular design shows on cable and saw celebrity real estate investors using the same-old “beige-everything” approach? I’d be willing to bet you could, at best, count them all on one-hand. It’s not rocket science! Make your investment stand-out by giving the potential buyer what they want instead of what you want or is the least expensive. It needs to look like a custom designed home rather than a home designed by a contractor or narrow-minded investor! #2. How does the potential buyer perceive you? Most real estate investors are perceived as just that…”investors.” Their houses look like average investor projects and the investor talks like every other investor talks. Consequently, they’re receiving low-ball offers and usually struggle to get an offer that’s even remotely close to full asking price. In our general investment area, we’re known as “Ann Lee Interiors,” which is a custom home design company. Our buyers perceive us as custom home designers rather than flippers/investors wanting to earn a quick buck and move onto the next investment without putting any thought or pride into their flip. Our buyers see our homes as ones that they are eager and excited to purchase rather than a house that they are just “agreeing” to buy. This is how we increase our market perception in our investment areas. So again, ask yourself this: “How does my potential customer perceive me? Do they perceive me as a ‘flipper’ or as a ‘custom...
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