In today’s Cash Flow Diary podcast episode, you learn about another necessary skill for entrepreneurs, business owners and Real Estate Investors. It’s flexibility! Why is being flexible so important? Because sometimes your best laid plans will go awry. That means you’re going to have to be flexible to adjust and take the necessary steps to turn things around. Think of it as a form of mental yoga. It’s okay if things don’t go as you intend. It’s how you respond and what you do when things go off track that matters. J. Massey learned this early on from one of his mentors. He always said, “Blessed be the flexible because they’ll never be bent out of shape.” He’s right. The more mentally flexible you are the better. You’ll realize that no matter what happens you will be okay. You’ll live and even thrive if you are flexible. You can’t avoid issues in business. J. talks about some of the surprises he has experienced in building his Real Estate Investing business. He shares how he had to grow in his flexibility in the different areas in his business, including marketing and advertising. J. has had a whole lot of unplanned events he’s had to deal with and manage. Lately he’s had a few of them in his family life. However, because he maintains a flexible mindset, he is able to bounce, which is something you need to replicate. Entrepreneurs must quickly interpret when change is required and then take the necessary steps to get to the new goals. J. covers a lot of ground in this introspective episode. LISTEN NOW
On this episode of Cash Flow Diary, J discusses essential skills and why flexibility is required if you are going to build your cash flow. This podcast is about finding and developing the continued courage to keep pushing forward. If you want to become a bigger, better, badder investor then you absolutely must listen to this episode!
04:37 Plans vs. actual events
07:54 Marketing strategies and flexibility
09:32 Managing expectations
10:04 Unplanned events
10:54 The Family
12:53 Interpreting when change is required
14:08 Understanding your customer and ‘why’
17:06 What customers aren’t saying
18:53 Managing flexibility
22:55 When it doesn’t go as planned
Key Lessons Learned:
- Inspirational quote: “Blessed be the flexible for they will never be bent out of shape.”
- We need to be flexible in a number of areas, including the mental realm.
- The process of learning to work with other individuals and vendors is flexibility.
- Interpreting information is really important. Just because someone doesn’t accept your offer, doesn’t mean you are doing something incorrectly.
- Make sure to manage your expectations properly (to know and be okay with the fact that you are getting feedback and not getting sold out to a particular outcome).
- When you are able to process the information you receive as feedback, you won’t quit.
- When it comes to flexibility, remember ‘family’ also happens to your investors, vendors, and all individuals involved in your business.
- We must learn to develop an appetite for quickly interpreting when change is required.
- Success doesn’t often meet you at the beginning. If it does, it’s not always a good thing.
- Understand what your customers are telling you, as they are essentially voting by how much they share, their opt-ins, and attendance).
- When it comes to customers, make sure you know why they buy, and know why they don’t buy.
- Not finding out ‘why’ will hurt you at some point.
- Just because customers aren’t saying something bad, doesn’t mean there isn’t something worth improving.
- Flexibility is managing three things:
3) Level of faith
- Stress is managed by how you react to feedback you are given.
- As we receive feedback, we learn to fail forward and to be okay with it.
- One of the attitudes of flexibility is to be prepared to make expensive mistakes.
- Be prepared for when it doesn’t go as planned.
- Start with the intent to see the goal as the path often changes.
When It Doesn’t Go As Planned:
- There are three options:
- There will be many times on the way to what you want to achieve that you will be asked ‘Do you want to quit?’
- Surrender to the process of not knowing everything.
- Surrendering is the concept of learning how to press on.
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Links to Resources Mentioned
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