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Sticking to Your Rules
‘It’s easy to forget the rules and chase the deal but chasing the deal isn’t always the right thing’
This week Snow (Gordon’s dog) has enjoyed a dedicated dog swim at the local Lido, Gordon has been out running and now in this episode shares some practical advice on how to not only create a set of rules and criteria but importantly how to stick to them. We can all find sticking to the rules a challenge so understanding the importance of why we need them is key, listen in and find out more.
KEY TAKEAWAYS
- In any business, you have to create a set of rules and stick to them.
- For a property business, your rules will be determined by your investment criteria.
- It is key to stick to your rules every time If you break your rules once it will be easier to break them the next time.
- You need to set yourself up to make a profit whatever your business and having a set of rules is vital to ensure you are working without profit.
- Know and understand the value of your product or service.
- There is a difference between devaluing your product and selling at the wrong price point.
- If your product is at the wrong price point it will not sell and having accurate criteria in place ensures you are able to value your product or services accurately.
- When you know what value, you bring it becomes easier to moderate yourself against your rules.
- What are the rules in your business?
- Do you have a set of criteria and stick to them?
- Do you have investment criteria?
- When you put in a set of rules you need to track the outcomes to ensure you are getting the best from deals and investments.
BEST MOMENTS
‘Knowing the value of your business is really important as it will help you to stick to your rules’
‘Eventually, you will get to a place where you’ve got problems’
‘A lot of people get it wrong and lose their position in the market by trying to be competitively priced or trying to beat a competitor’
Sometimes the right answer is no the deal isn’t right for me at this time
VALUABLE RESOURCES
The Property Entrepreneur Podcast
ABOUT THE HOST
Welcome to the Property Entrepreneur Podcast. We don’t know about you, but we’re fed up of being broke and relying on exchanging time for money working for others. Join Gordon Done on his journey to becoming a full-time property investor. You’ll get a no holds barred introduction to property entrepreneurship.
It doesn’t matter if you’re completely new to property or you’ve been working in property for years; we’ll give you the tools you need to create a mindset for success. We’ll help you avoid any mistakes we make along the way while giving you the blueprint to any successes we achieve.
Join us on our journey to becoming professional property investors and learn how you too can become financially free through property entrepreneurship.
“Financially free…Brick by Brick”
CONTACT METHOD
https://www.facebook.com/The-Property-Entrepreneur-Podcast-519677241877352/
https://www.instagram.com/thepropertyentrepreneurpodcast/
https://www.thepropertyentrepreneurpodcast.com/
View all episodes
By Gordon Done‘It’s easy to forget the rules and chase the deal but chasing the deal isn’t always the right thing’
This week Snow (Gordon’s dog) has enjoyed a dedicated dog swim at the local Lido, Gordon has been out running and now in this episode shares some practical advice on how to not only create a set of rules and criteria but importantly how to stick to them. We can all find sticking to the rules a challenge so understanding the importance of why we need them is key, listen in and find out more.
KEY TAKEAWAYS
- In any business, you have to create a set of rules and stick to them.
- For a property business, your rules will be determined by your investment criteria.
- It is key to stick to your rules every time If you break your rules once it will be easier to break them the next time.
- You need to set yourself up to make a profit whatever your business and having a set of rules is vital to ensure you are working without profit.
- Know and understand the value of your product or service.
- There is a difference between devaluing your product and selling at the wrong price point.
- If your product is at the wrong price point it will not sell and having accurate criteria in place ensures you are able to value your product or services accurately.
- When you know what value, you bring it becomes easier to moderate yourself against your rules.
- What are the rules in your business?
- Do you have a set of criteria and stick to them?
- Do you have investment criteria?
- When you put in a set of rules you need to track the outcomes to ensure you are getting the best from deals and investments.
BEST MOMENTS
‘Knowing the value of your business is really important as it will help you to stick to your rules’
‘Eventually, you will get to a place where you’ve got problems’
‘A lot of people get it wrong and lose their position in the market by trying to be competitively priced or trying to beat a competitor’
Sometimes the right answer is no the deal isn’t right for me at this time
VALUABLE RESOURCES
The Property Entrepreneur Podcast
ABOUT THE HOST
Welcome to the Property Entrepreneur Podcast. We don’t know about you, but we’re fed up of being broke and relying on exchanging time for money working for others. Join Gordon Done on his journey to becoming a full-time property investor. You’ll get a no holds barred introduction to property entrepreneurship.
It doesn’t matter if you’re completely new to property or you’ve been working in property for years; we’ll give you the tools you need to create a mindset for success. We’ll help you avoid any mistakes we make along the way while giving you the blueprint to any successes we achieve.
Join us on our journey to becoming professional property investors and learn how you too can become financially free through property entrepreneurship.
“Financially free…Brick by Brick”
CONTACT METHOD
https://www.facebook.com/The-Property-Entrepreneur-Podcast-519677241877352/
https://www.instagram.com/thepropertyentrepreneurpodcast/
https://www.thepropertyentrepreneurpodcast.com/