Anyone endeavoring to embark upon the “Great American Dream” of being in business for themselves are faced with the same set of circumstances, have primarily the same challenges, typically have the same opportunities afforded them and have purchased in one way or another the training and/or tools of the trade. Additionally, all are obviously allotted the exact amount of time. Why then, the high ??? What makes the difference??? Let me tell you what I have learned and believe to be true, but first let me explain.

In the past 35 years I have sold everything from Cemetery Lots and Cosmetics to Commercial and Residential Real Estate. At one time I had over 350 Consultants working for me and I have trained more than 400 real estate agents for my own company plus taught at a Real Estate Licensing School serving thousand of “wanna be” real estate agents. The drop out rate in the schools is astounding and the attrition rate of real estate agents is unbelievable (and may I add, very disheartening to the Brokers who spend countless hours and thousands of dollars training and endeavoring to motivate them).

What makes the difference? There’s really nothing new here, it’s as old as the hills of the Sierra. The difference is: The successful have a clear vision of what they want (Goal), they have a clear understanding of the path to get there (The plan) and a drive to work the Plan (by paying the price of time and effort) Once this is agreed, then the only question that remains is: Is the cost in time and effort worth the achievement of what I want (the Goal)?

In High School Economics 1A, we learned about the Economic Trilogy: Utility, Choice and Cost. The hypothesis is as follows: Everything has a Use, but you can only use it for one thing at the same time. (Example – you can use a table to eat on, play cards on, dance on, BUT you can only use it for one thing at a time.

That brings you to the next thing: Choice – You must choose which activity you will use it for. And last is Cost. The TRUE COST of your CHOICE is the “GIVING UP” of the next highest alternative.

So the application here is quite simple. We all have the same amount of time, we can only use it for one thing at a time, and the true cost of taking the time to do the things you have to do in the business to be successful is: the giving up of the next highest alternative i.e.: what you could have done with the time.

I have heard every excuse in the book why people do not succeed in the business and to justify their lack of achievement. How about this, “ I had to spend too much time, the material was not complete, the (broker, boss, manager, trainer, mentor) did not give me the help I needed, the market was off, the potential business did not exist, I was sold a “bill of goods”, the weather was too hot, cold, rainy etc., I didn’t have the support of my wife, husband, family, friends, etc, This is too stressful, I lack the education, I don’t have the background, I need more experience. Here’s the big one – “I met Joe Blow the other day, and he said he tried it once and it didn’t work”.

But the REAL reason is: they didn’t want it badly enough to do the work, take the time, and expend the effort to do what they had to do. Another thing, there’s no such thing as a “free lunch”…. a good lunch that is. As in any other field of endeavor, you must invest in yourself to learn the business. You can only nibble around the edges of the real meat when you demand to be spoon fed at the public trough. To really learn this business (or any other business for that matter) you have to bite the bullet, dig down in your jeans and spring a few bucks for a training seminar and/or manual. It may mean a “sacrifice” but remember the Economic Trilogy? If you fail to invest in yourself, your next highest alternative surely will be mediocrity or worse yet, failure to even start!

I am not a note broker or investor. My company services and collects cash flows of all sorts including notes. We work the same market as the people who look for notes to purchase. I have to tell you, it takes a lot of time and effort to build a business, but let me assure you that the notes and cash flows DO EXIST. We work direct mail and calling, referrals and through professions who have clients with notes. We make hundreds of contacts each week (one at a time). Not everyone wants our service, just as not everyone wants to sell their note, but you just keep going and by all means, let me advise your readers to “leave the door open”. If someone doesn’t want to sell now, why not try this language “O.K.”, but your situation may change tomorrow, and if it does, please keep me in mind” and then leave them information of how to contact you…. and cultivate your market data base.

Lastly, remember, this business is “a Contact Sport”. Without making contacts on a regular, systematic basis, you can be a smart, as beautiful, talented and prepared as can be possible, but if you fail to CONTACT the prospects you will surely fail. And when you do, may I suggest you have the guts to look in the mirror and say: “O.K. pal, you screwed up, why not you and I get up, brush ourselves off, and try this one more time only THIS: Set a realistic Goal, Develop a Plan of Action, and then let’s Work the Plan – consistently and with perseverance. I wish your readers luck in their endeavors. Funny thing though, the harder you work, the luckier you get!!!