Jill Friday – How to be an Effective Entrepreneur (LA 1558)
Jill Friday – How to be an Effective Entrepreneur (LA 1558)
Transcript:
Steven Butala:
Steve and Jill here.
Jill DeWit:
Hello.
Steven Butala:
Welcome to The Land Academy Show, entertaining land, investment talk. I’m Steven Jack Butala.
Jill DeWit:
And I’m Jill DeWit, broadcasting from pretty Phoenix, Arizona.
Steven Butala:
Today is Jill Friday. How to be an effective Entrepreneur. I was going to say infectious, because you’re like an infectious entrepreneur. And that’s a compliment. Huge compliment.
Jill DeWit:
That’s Great. But do you know with COVID [inaudible 00:00:26], you can’t throw infectious around.
Steven Butala:
Yeah, that’s probably not [inaudible 00:00:31].
Jill DeWit:
Exactly. Two years ago. We all get it. Now, not so much.
Steven Butala:
Before we get into it. Let’s take a question posted by one of our members on the landinvestors.com online community. It’s free. If you’re already a member, please join us on discord.
Jill DeWit:
All right. So Laurie wrote, “Success stories.” I like this, I saw this the other day. Okay. Laurie wrote, “Success stories are too few and I’m posting this one on request. Bought 20 acres with a falling down house and a ton of trash for $70,000, sold in less than a week for $165,000 to the neighbor. I funded this for a partner who’s negotiating and set a selling wizard and made it possible. We had to work through an attorney for several months to finalize probate and to get the property redated. Seller knew nothing about probate. Didn’t even know she had to go through probate or to facilitate with two attorneys involved.
Jill DeWit:
Was a headache of a deal. But at the end, the seller was so incredibly grateful to have the money and the neighbors were thrilled to get the property cheap. My deal partner, and I were both delighted to make that much and sell so fast. And he wasn’t even a bit upset to get a wire for $53,000. And the attorney was happy with the flowers we sent her and she sent a picture of them in her conference room. And a love you guys email. That’s five people that were very happy from one deal made possible by Land Academy.”
Steven Butala:
So I put this in the script on this episode because Jill’s going to … This is happy Jill. And because yesterday …
Jill DeWit:
It was crappy Jack. Happy Jill, crappy Jack.
Steven Butala:
This experience, I believe represents the vast majority of what goes on Land Academy.
Jill DeWit:
Today’s topic Jill Friday. How to be an effective entrepreneur. This is the meat of the show. For helping each other out this week. Sometimes we fall a little behind. Sometimes we lose our train of thought. Sometimes we’re just, who knows what is going on.
Steven Butala:
Broadcasting to you from our personal job site.
Jill DeWit:
Here we go.
Steven Butala:
Construction site.
Jill DeWit:
There is that too. Yes, we are recording around different projects. So it’s okay. So here’s the deal. I find there’s a lot of people that hit a certain level in their company, and it’s usually deal flow and money combined. And they’re like, “I know how to make 50, 75, a hundred thousand dollars a month seriously, but I can’t get past that level of right now. I’m doing bigger deals. I’m answering the phone as best I can. I love my job. I’m not sleeping. I don’t know what to do now. I’m trying to get past this hump. And so I want to help you be an effective entrepreneur. Guess what the problem is. It’s you.
Steven Butala:
Maybe this is a rant today. Jill’s rant. [crosstalk 00:03:42] maybe it’s narcissistic view.
Jill DeWit:
You saw that coming right?
Steven Butala:
No.
Jill DeWit:
[inaudible 00:03:54]. I thought you would agree with me, but that’s really it. It’s you, okay. You’ve got-
Steven Butala:
I want to get in on this now.
Jill DeWit:
Why is it you? Because you are holding yourself back. You need to step aside. You need to hire, you need to let some self … You need to let some things go. You’ve got to force the growth and I get it. So here’s what happens. You’re doing as best you can. The scenario I just described is many entrepreneurs in Land Academy right now today, you are one man shows and you’ve reached the end of what you can do as a one man show. Some of you won’t even outsource to PATLive. Some of you are afraid to take that first step. Like, “Oh, I want to get all the calls.” I know it’s not going to be as great. It’s not going to get as many deals. It’s not going to be you, but you know what? You hit the top now, you have to do this. You have to let PATLive take that off your plate.
Steven Butala:
When you hire somebody, know this, they’re not going to do the job as well as you did it. And some people can’t get past that and it’s just wrecks their career or you’re stuck in one spot forever. We can’t get past the fact that they’re not making 60 grand and that’s being taken out of your pocket.
Jill DeWit:
I’m going to give you three things right now for today. For you the one man show. One is take on PATLive. You got to do that. Number two, I need you to think about updating your systems. There’s a lot of people [inaudible 00:05:33] we talk about like, “Oh, I’m just using Excel. I’m using the free version of Airtable. I’m using whatever it is. I’m penny-pinching. I’m not going to do that.” Well, guess what, now is the time. I need you to add some money. I need you to get some paid versions. I need you to get really good, and grow your company.
Steven Butala:
Jill has a show on Clubhouse every Thursday at one o’clock PT, right?
Jill DeWit:
Yeah.
Steven Butala:
And there’s a group of people, pretty consistently that show up for that who are not Land Academy members, which I think is fine. And it’s great. But every once in a while they’ll have questions, they always have a lot of questions that are all addressed in our education. And so they’re moving through their career, probably mildly successfully and they’re stuck. To which Jill says, “You’re a perfect candidate to join Land Academy. Here’s a promo code. This is what you should do. And go through the education. All these things will get addressed for you.”
Jill DeWit:
And you will really move forward.
Steven Butala:
“Oh no. I’m a DIY person. And that’s not how I roll. That’s not what I want.”
Jill DeWit:
I talked about this with our concierge guy the other day.
Steven Butala:
So you want to just get all the free stuff. Look, it took me 20 years to effectively do real estate transactions. And maybe now I’m not even doing it as well as I can, because there was no Land Academy. There are people that join Land Academy and are fast where I am or surpassed it in six or eight months. So why would you do that to yourself?
Jill DeWit:
Exactly. So, and then the third thing is [inaudible 00:07:15] to just bring on some staff. Get over it. I know it’s scary. It’s very scary. “Okay, wait a minute, Jill, I just got comfortable, feeling responsible for my whole family and putting food on the table with this business. Now you want to bring on staff and be responsible for their family too, because I’m paying their payroll.” Yep, I do. You can do this.
Steven Butala:
So this is great advice.
Jill DeWit:
Thank you.
Steven Butala:
Can I … I know this is Jill Friday. Can I make a few comments here?
Jill DeWit:
Absolutely.
Steven Butala:
I didn’t know until recently, not recently [inaudible 00:07:49] years ago, what the definition of an entrepreneur is like most people, when you think of an entrepreneur, you think of somebody who’s like … Jill and I used to teach a class called entrepreneurship for a college and as a substitute teacher team. And, I would ask what’s an entrepreneur? And, at the time they would say either Steve jobs or Zuckerberg, Mark Zuckerberg. To which I would just always chuckle. Because that’s the tip tip top of the planet, these five guys, and everybody says that’s an entrepreneur. Gates or Buffett or whatever. The strict definition of the word entrepreneur is French. And it means looking at things in a different way than other people look at them.
Steven Butala:
And that’s what we do at Land Academy. We look at real estate in a very different way than traditional commercial real estate people do, or let’s say the regular real estate agents even now. We take a look at and break it all down and deconstruct it, and review it and put it back together in a way that makes sense for us. And the most successful people in our group, everyone in career path, almost without exception gone through the education, done a bunch of deals. And then they’ve made some weird change that makes sense to them and they’re crazy successful.
Steven Butala:
And so that’s what an entrepreneur is. They took all the standard stuff from us or wherever they’re getting information on the internet or how to buy and sell land or real estate. Doing it, and then adding mobile home lots or some whatever makes sense to them, or moving into a different state because of whatever. So there’s a lot of people and the people … Not a lot of people, there’s a number of people that for some reason, just don’t want to go through the regular steps. They really want to challenge how we do it and change it. And they don’t last very Long.
Jill DeWit:
[inaudible 00:09:43] the car concierge pricing. And I had a conversation about this the other day, he’s like, “Why would you want to spend so much time on your own, hitting your head against the wall when you have the experts right here that want to help you and teach you and save you from all of that?”
Steven Butala:
And what does it cost? It’s so inexpensive compared to the success percentages.
Jill DeWit:
Oh yeah. And just one college class. It’s kind of funny too, but yeah.
Steven Butala:
This whole thing costs less than one college class.
Jill DeWit:
It’s very interesting when you pointed that out, I thought that was really smart.
Steven Butala:
I had a lot of feedback on that one.
Jill DeWit:
So, be more effective. I know it’s scary. It’s going to cost you money, but you will benefit in the end I promise. And, like our other saying that we are going to say here in a second, we won’t let you fall that far. That’s why you have us. That’s why you’re listening. That’s why you’re part of our group.
Steven Butala:
You know what really helped me? These Jill’s milestones here, she’s dead on. I set a goal for myself. So I said, “When I have X amount of money in the bank from buying and selling land, not for my regular job, I’m going to hire somebody and I’m going to hire him for Y amount of money. And I’m going to start looking now because I can see it’s going to happen in six months, eight months or two years or whatever. And then promise myself that I’m going to do that because that’s … And then I’m going to let them do what they need to do so that I can go on to increase my revenue, to pay for them.” So play these little games with yourself, [crosstalk 00:11:15]
Jill DeWit:
That’s the way of making yourself feel more comfortable, like having X amount of money in the bank to [crosstalk 00:11:18].
Steven Butala:
Making myself be accountable. Accountable to growing, whatever I’m growing. Because you you will hit a ceiling. There’s just no doubt about it.
Jill DeWit:
Yeah. There’s only so much one person can do. Happy you could join us today. Five days a week. You can find us right here on the Land Academy Show.
Steven Butala:
Next week. Join us for another interesting episode. You are not alone in your real estate ambition.
Jill DeWit:
That was good.
Steven Butala:
Good advice, Jill.
Jill DeWit:
Thank you.
Steven Butala:
You’re good at this.
Jill DeWit:
Thank you very much. And thank you for tuning in. We hope you find our content valuable and we really do appreciate your support. So if you haven’t already please zip on over to our YouTube channel, hit the subscribe button and comment on the shows you love.
Steven Butala:
We are Steve and Jill.
Jill DeWit:
We are Steve and Jill.
Steven Butala:
Information.
Jill DeWit:
And inspiration.
Steven Butala:
To buy undervalued property.
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