Are you wasting time every month, week, and day dealing with symptoms of bigger problems in your real estate investing business? It's time to cut the crap and get to the core of the issue. Knock over the big domino that drops hundreds of small dominos.
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Show NotesAre you wasting time every month, week, and day dealing with symptoms of bigger problems in your real estate investing business? It’s time to cut the crap and get to the core of the issue. Knock over the big domino that drops hundreds of small dominos.
There is a book called The One Thing which discusses this idea of figuring out the big domino that knocks over all the small dominos in great detail. This episode isn’t going into that specifically though. Instead we are going to discuss what I’ve noticed as a pattern for most real estate investors. We are usually trying to remedy symptoms rather than the root problems.
I was at a mastermind last week. In this mastermind, as in all masterminds, investors are put in the ‘hot seat’. This is where they share details of their business along with their current struggles. The idea is to illicit feedback from the other experienced investors in the room so that they can move forward. This works wonderfully when there are investors in the mastermind that have already been there and done that.
The problem lies in the fact that most of the struggles tend to be related to symptoms of bigger problems. This mastermind is well organized though, so many times someone would state this truth and help the person in the hot seat see that they had a bigger problem to deal with. But, eventually, with more opinions and advice being thrown around, the discussion loses that focus and headed for the weeds again. Not good.
The focus should be on where you are headed. If you don’t know where you are going with your life, your business, your work, you won’t have something to use to filter all of the ideas and things you are chasing through.
Be sure to check out episode 216 of the podcast where I talked about knowing where you are going. That episodes covers finding what you want in great detail.
Once you determine what you want, you can determine how you’ll get there. You’ll know what your business is. Is it wholesaling, owner financing, rentals, fix and flips? The only person that can answer that is you. You have to know what you want and then look at which of those strategies will get you there fastest and safest.
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Episode TranscriptionWEBVTT
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Danny Johnson: Everybody welcome back to the flipping junkie podcast I got a special episode for you today.
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Danny Johnson: i’m going to call this a leadership lesson and maybe i’ll start doing these on a regular basis, where it’s just me talking about things that i’m going through.
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Danny Johnson: Now, I do have a new mentor and coach in the business and so we’re talking a lot about a lot of this stuff so I want to.
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Danny Johnson: You know pass along some of these things that i’ve been learning, you know as I go and help a lot of you, I know a lot of our customers in forefront CRM.
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Danny Johnson: You know, really interested in leadership, these days, and a lot of focus on business itself working on the business and then leadership as well.
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Danny Johnson: And so I want to cover these topics, from time to time in between interviews of great guests i’ll continue to do those but thinking right now to just call these leadership lessons for now.
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Danny Johnson: Like the ring of that and we’ll start with with this one, so are you wasting time every month week and even day really dealing with symptoms of bigger problems in your real estate investing business.
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Danny Johnson: I want you to take some time to to look and see if the things that you know at the beginning of the week, if you’re saying i’ve got to deal with this, I gotta deal with that I gotta figure this out.
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Danny Johnson: take some time to consider whether those are symptoms or a bigger issue that that’s at work or at play here.
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Danny Johnson: Because you know you have an opportunity, each time that you do that, to knock over a big domino that drops hundreds of small dominance right and so instead of.
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Danny Johnson: You know spending all this busy time doing the wrong thing working in the wrong forest knocking over the small dominance one, at a time.
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Danny Johnson: consider whether something else might take care of that right and that could be a bunch of different things, it could be, you know the book who not how as a good one from Dan Sullivan.
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Danny Johnson: And you know things like that, and it might be, you know who, instead of a how right but.
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Danny Johnson: You know this idea of dropping big dominoes instead of hundreds of small dominoes is is one that’s been around for a while right and it’s there’s a book called the one thing I think that talks about it and that way.
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Danny Johnson: And the reason why I want to talk about this today is is not because of that book I haven’t read that book in a really long time, the one thing, but it is a good book and it talks about that.
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Danny Johnson: But, specifically the situation that I noticed at a mastermind there was recently at last week actually at the end of last week.
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Danny Johnson: Great mastermind great people love all the people there and the host of the mastermind and all that you know awesome it’s really great, but I did notice a pattern right.
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Danny Johnson: And maybe this is even me noticing it because i’m you know it’s something that I need to notice for my own business so.
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Danny Johnson: You know i’ll own that but, but it was interesting, I think this could be helpful for a lot of people, because at this mastermind.
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Danny Johnson: As an all masterminds investors are put in what’s called the hot seat.
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Danny Johnson: So, each time that the mastermind meets you know somebody’s got something they’re struggling with or trying to work through.
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Danny Johnson: They can take the hot seat and explain, you know talk about their business talk about what they do so there’s context.
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Danny Johnson: And then talk about the struggles that they’re having and elicit that feedback from.
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Danny Johnson: You know more experienced investors in the room, or even just people that have been through the same thing and can share, you know ideas on how to overcome that right which is awesome that’s what it’s all about right becoming you know.
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Danny Johnson: Doing More because you know there’s more brains there more minds there and people have experienced different things in different perspectives.
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Danny Johnson: are provided, but so that’s great there’s no problem with that, but the issue that I noticed was you know many times what is discussed is a whole litany of problems.
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Danny Johnson: And they’re kind of vague there there, there are problems, but you know really at the end of the day it related to a bigger problem.
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Danny Johnson: And, and I guess the if I can articulate this better it’s that you know a lot of times there’s a problem of focus right lack of focus to be clear.
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Danny Johnson: And so there’s ideas and options to go on a bunch of different directions right and that’s typically the kind of question that gets asked to the struggle that happens it’s like.
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Danny Johnson: You know I need to reach this goal and i’ve got all these options and i’m doing all these things and i’ve got all this stuff going on.
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Danny Johnson: What do I do.
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Danny Johnson: Right and if you cut through that if you look at what’s going on there, why would there be.
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Danny Johnson: So many options are Why are you doing all these different things, because many times when you’re doing a lot of different things to reach one goal.
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Danny Johnson: you end up with all the symptomatic problems of you know approaching all of those different things so you’re now multiplying the symptoms multiplying the problems.
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Danny Johnson: And it’s a bigger thing So how do you move up the chain right, so the to the source of the actual issues.
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Danny Johnson: And this has mentioned a lot of times by people that have been through this and that can see this clearly, and it was brought up in this mastermind sometimes.
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Danny Johnson: But the problem was with more ideas and more people speaking, it can be taken up the chain to maybe the bigger issue is this, but then other ideas come up and people start talking and next thing you know this this person the hot seat is back into this whole thinking of.
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Danny Johnson: All these are the things that they need to do right, and you can just see the overwhelm and the mind cranking and there’s no clarity right it’s like you know when you see somebody get clarity, because they’re like.
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Danny Johnson: And there’s no more rapid speaking, you know it’s just like oh that’s it right, you know that that feeling i’m sure you’ve had it yourself, and I hope you have it often.
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Danny Johnson: But when the mind is just like turning over cranking in your thinking all these different things, and that overwhelm sets and you’re not you know it’s just difficult to really cut through that clutter, and so what I wanted to speak about today with that with regards to that is.
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Danny Johnson: You know, looking at where does everything need to start and I actually did this episode two episodes ago I think it was episode 216.
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Danny Johnson: Where are you going, I think that that one is a great episode to go back to if you didn’t listen to it.
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Danny Johnson: Because a lot of times the source of the issue is, and this is what was raised, sometimes during these hot seats of this mastermind was what is your business right.
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Danny Johnson: You are saying that you do this this and this and you want to do this other thing, and all this other things going on.
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Danny Johnson: What is your business like what is it that you focus on right because you need to get things cranking and working really well and be in and get that.
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Danny Johnson: That one thing kind of predictable for you, so you got stability and consistency in your business.
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Danny Johnson: And then you can look at branching on other things, while you maintain and make sure that that thing keeps going right, but a lot of us shiny object entrepreneur stuff going on tend to.
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Danny Johnson: You know, get excited about another thing right, and so we end up with these problems, what is the business that you’re in.
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Danny Johnson: What is, you know what is your vision for your life and that’s what that episode 216 flipping junkie calm slash to 16 is all about.
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Danny Johnson: You know figuring out where it is you’re going, what do you want your life to look like, what do you want your business to look like, what do you want your work to look like.
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Danny Johnson: Because, at the end of the day, that’s what all these decisions should be based on when there’s a shiny object out there, getting your attention.
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Danny Johnson: You can put it through the filter of is this serving me getting to that place that I want to be does this moving me closer to that right, because when you know where you’re going.
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Danny Johnson: When you go to mastermind which I think all of us should be right, going to masterminds talking with other investors and getting this feedback.
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Danny Johnson: But we need to have a filter, we need to have a way to go, hey that’s a shiny object I love that does that bring me closer to my goal faster.
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Danny Johnson: And if not, I can just file it away in a note and not worry about it right and not feel like i’m missing out the whole photo thing going on.
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Danny Johnson: Because I know that what i’m doing is driving me to this goal that I have right and if you’re not clear on that that that’s, the first thing to do right because.
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Danny Johnson: Maybe that’s The thing that should be raising the hot seat i’m not sure what I want let’s dig into what that might be and figure out how to do it.
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Danny Johnson: Because a lot of this other stuff is really just a waste of time if it’s not getting you closer every single week every month every year to what you’re actually trying to do.
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Danny Johnson: Right, so you got to know what you’re trying to do, and then episode I do talk about how.
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Danny Johnson: It can be difficult to map out that for any length of time because you feel like things changed so much I can’t see that far into the future well.
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Danny Johnson: You got to attempt to and, obviously, it will change over time, but at least you got something that’s guiding you to help you filter all of these ideas through.
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Danny Johnson: So that you’re focused right and then you’re only looking at what is the thing that’s going to move the needle the most for me to get me closer to my goal, and let me do that, instead of worrying about all this other stuff.
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Danny Johnson: Right so that’s that’s the homework for everybody right is to really spend some time go somewhere different don’t don’t just.
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Danny Johnson: sit at your office or do something that you normally do and and try to think about this thing like right in this moment even.
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Danny Johnson: If you don’t normally go to a coffee shop or something like that go to a coffee shop sit there by yourself and have some quiet time go to a library do something go to a park sit on a bench.
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Danny Johnson: enjoy some time outside and sit there and really consider do I know where i’m going is what i’m doing and what i’m working on right now getting me closer to that.
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Danny Johnson: Or am I dealing with some things that are not getting me closer to what i’m trying to do, and then, what can I do to get clarity on that.
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Danny Johnson: Right that’s, the first thing that’s the big domino if you get that big domino knocked over.
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Danny Johnson: you’re going to free up a bunch of time to really focus on the things that are going to move the needle and guess what every single day feels that much better because, instead of being burned out overwhelmed.
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Danny Johnson: You can look at back at the end of the day, and say man look at what I accomplished I got even closer to my goal, today I moved the needle I did some stuff yeah some other things came up and I dealt with those.
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Danny Johnson: But, at the beginning of the day, I had my priority to do these things that really got me closer to where I want to be.
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Danny Johnson: And another great book to mention in this episode related to that is the gap in the game and that’s really all around at the end of of each day, looking back and saying what did I accomplish today because a lot of us are looking.
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Danny Johnson: To this ideal of where we want to be that’s usually very vague right this idea of financial freedom or something like that or time freedom.
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Danny Johnson: And it’s a very big idea and we’re engaging where we are now to that and there’s a big gap right and the ideal is something that should be so ideal that you never achieve it right it’s The thing that keeps you just going and progressing in life and being all that you can be.
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Danny Johnson: But, but you know it creates that gap mentality and feeling and stress and anger and frustration, a lot of times if you’ve been in that gap for a long time, and I know I have i’ve know i’ve i’ve got these goals and.
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Danny Johnson: You know, they were pretty darn vague, for a long time, and so that’s what was happening is kind of stressful all the time and that’s where burnout happens.
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Danny Johnson: But then, you know going back now and looking at wow Look how far i’ve come it’s kind of amazing that we don’t do this automatically you know I wish all of us did but.
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Danny Johnson: You know, looking at how far we’ve come and doing that each day at the end of the day, you know, look at the things that happened today that are really awesome that that got done.
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Danny Johnson: New opportunities that came up or things like that, and it just changes everything in the outlook and gets more excitement and energy and motivation to move forward on the next day, so I hope this helps everyone.
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Danny Johnson: get some clarity remember do some some some thinking through this right do some thinking time.
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Danny Johnson: and
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Danny Johnson: You know, really look at if you have a clear path of where you’re trying to go and whether the things that you’re doing are aligned with that or you’re just taking on things that are shiny and exciting but.
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Danny Johnson: But don’t fit into that that moving the needle and moving making progress for each day so.
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Danny Johnson: If we have a great week thanks for listening to the podcast if you’re enjoying the podcast especially like these leadership lessons and i’m going to start doing and I really want to stick with this.
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Danny Johnson: Go ahead and head over to apple podcasts or wherever you listen to this and leave a rating a review for the podcast I really do appreciate that.
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Danny Johnson: I hadn’t looked in a long time, but I did look yesterday at those reading reviews and some some people have left some recently and I just love.
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Danny Johnson: You know reading those and hearing those because i’m recording these episodes and putting them out, but there’s no back and forth it’s just me putting them out.
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Danny Johnson: And so that’s how I get my feedback it’s like oh awesome it is resonating with people Thank you guys so much for leaving those those ratings and reviews that I can read through.
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Danny Johnson: It means it means the world to me, and it really does it helps me to get excited about putting out more great content for you like these episodes so thank you so much really do appreciate it and talk to you next time bye.
