Certain business principles underpin successful entrepreneurial ventures. Building a successful land investing business is no different.
I want to share three business principles that will set you up for success as a land investor and allow you to beat the real estate market.
Business Principle #1: Progress Over Perfection
One of the first obstacles that many entrepreneurs face is getting started. You will not feel confident when preparing to launch a new venture, and this is both normal and natural. The only way to overcome your uncertainty and fear is to take action.
Whenever we launch a new project in our land investing, real estate, or educational businesses, we work on the following principle:
“Progress is better than perfection.”
The only way to learn is by doing. If you are in the early stages of launching your land investing business, every direct mail campaign you send, offer you make, and deal you close will build your confidence.
By implementing the business principle of Progress Over Perfection, you will have the opportunity to perfect your imperfect efforts over time.
Business Principle #2: Systemize to Optimize
When Henry Ford decided that every American family should be able to afford a Model T Ford, he knew that he would have to do things differently. Ford introduced the assembly line, which dramatically reduced the time, labor, and, therefore, cost of manufacturing a finished product.
The secret to Ford's success was his understanding of the business principle that states that systemization leads to optimization. Ford reduced the highly complex process of building an automobile into a sequence of simple, repeatable steps that could be completed quickly and accurately to produce a predictable and reliable outcome.
When you start a land investing business using the Land Profit Generator Method, you will be able to deconstruct the complex process of buying and selling land into simple, repeatable steps. Once you perfect the ‘assembly line' approach to making land deals, you will be able to optimize and scale your business.
Business Principle #3: Build On The Experience of Others
On December 17, 1903, the Wright brothers successfully flew the first airplane. This was 400 years after Leonardo DaVinci made his model of a hypothetical flying machine. DaVinci's vision took 400 years to become a reality. However, it took only 66 years from that first brief flight for aviators to go from rudimentary planes that could only fly for a few minutes to landing a spacecraft on the moon.
This is an example of the most critical business principles for entrepreneurs. If you want to accelerate your progress, build on the experience of others.
If you are considering launching or scaling your land investing business, the wisest decision you can make is to invest in a mentor or coaching program. Your coach will be able to compress time by ensuring that you avoid common mistakes. I often tell aspiring land investors that they will pay for coaching either way. You can pay your school fees by learning everything through trial and error. Or, you can pay somebody to eliminate the trial and error and get you to success without the pain.
If you would like to learn about our industry-leading land investing coaching program, click below.
