Episode 93: [Recommended Book] Essentialism

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Show Notes

This is basically just a review of a book that I re-read for the second time. Grayson (on our house flipping team) suggested this book to me, and it’s really been helping me deal with feeling overwhelmed with everything.

Sometimes you read a book at one point in your life, but don’t get all of the advice and actionable material. This book is called “Essentialism” by Greg Mckeown, and it’s just great. There are so many visual representations of how you get overwhelmed. The circle with all of the short arrows are definitely where I was at. Then, there’s another circle with a single long arrow that shows where the most essential things are, and should be going. This is where we should all be, and this is where I want to take Flip Pilot and LeadPropeller.

I’ve been spending a lot of time thinking about what’s the most essential part the business, taking time to look at the big picture, to get a clear idea of what we really should be doing. What’s most important to us so that we can get rid of those little arrows. So many of us as real estate investors can tend to feel really overwhelming. If you burn yourself out, you’re not going to be running a successful business.

One story in this book is about journalism, but can definitely be applied to other aspects. When Greg was in a journalism class, the professor said to come up with a lead for a story about faculty meetings. Every student was coming up with stories about the different departments, and the goals from those meetings, and the overall impact on the university. The lead that the students didn’t take into account was that there wouldn’t be class on this day. The important take away was thinking about the audience’s point of view. The people reading this journal were the students – they didn’t care what the meetings were going to be about. The students reading just cared about if there was going to be class or not. So, thinking about things from the audience’s point of view helped to shape the best possible story about a subject that the students would have otherwise not cared about.

Seeing the bigger picture and coming up with a strategy that’s intentional is the best thing you can do for your business. The trade off should never be a detriment to your business. If you’re giving something up to do something else, make sure that something else is worth it.

Another clear point in this book is taking time to play. That’s so true. If you’re not taking time for yourself, then you’re going to burn out and give up. If you keep running forward, you’ll die. Taking time for yourself will help you get more creative in your real estate investing business.

I take my time on Sunday to plan my week, but I always start with scheduling the fun things to do with my family. Then, when I’ve put time aside for that, I add in the work stuff. If you’re not giving yourself time to have fun, you’re not going to be running a successful real estate investing business. Do it to get recharged.

If you guys haven’t read this book, do. It’s a great game changer for running the best business possible. Knowing what’s important and what’s not is difficult, but essential (hah, get it?). It’s like cleaning out your closet. If you see a shirt and think “I don’t wear this, but I might”, you end up keeping all of the close instead of clearing things out.

If something you need to make essential isn’t a clear “yes”, then it’s a “no”. Think about it like a scale of 1 – 10. If it’s not a 10, then it has to go. Plane and simple. That will keep you on the right track that your real estate investing business needs.

You can get this book in the link below! I highly recommend it if you need help with finding out what’s essential and what’s not. And don’t forget to join the Flip Pilot group on Facebook to network with other active real estate investors who have a 30k foot view of their business!

Links

YouTube.com/FlippingJunkie

FlipPilot.com

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