media messages match your values – even if they do not appear, at first, to be the ones “crushing” the social media promotional game. When you network with “winners,” by your definition, you also connect with their networks, which tend to be of better quality, and soon your network will experience exponential growth in volume and quality. NO. 3 Don’t fear “the next big thing,” and don’t be obsessed with it, either. Smart real estate investors will watch today’s tech- nological progression closely, but they will not permit themselves to be sucked into the “startup vortex.” Understand what the “next big thing” offers but realize the most important facets of this asset class — scar- city, value, and cashflow — and you can be one of the investors having the right conversations about technol- ogy in today’s real estate investing environment. One of the things everyone loves most about real estate is that it serves as a constant. Our nation was founded, in part, as a result of the desire for private property rights, and since then, the constant message we hear about land is: it holds its value. In today’s real estate industry, the methods of buying and improving land are constantly evolving. Never think that technology will replace good processes or the good people that operate within your business. Know- ing yourself and your business to the extent that you truly understand how and why you do what you do will enable you to select technology that is a good fit for your company and avoid the pitfall of trying to replace yourself with automation. • SOME THINGS NEVER CHANGE (AND THAT’S OKAY)
For most investors, the conversation revolves around the ulterior motives behind the iBuyer movement. However, a better conversation to have centers on how these companies are affecting markets and what individual investors should do to accommodate the changes they have wrought on home-seller percep- tions. Have a conversation with economists based with these iBuyers or who monitor their activities closely, and you will find you have market insights few others in your field possess. NO. 2 Think about social media without obsessing over it. When you think about businesses that are active and, from the outside, appear successful on social media, which ones come to mind? What is your instinctive response to the idea of those businesses? If a business’s social media success does not evoke positive feelings, then be careful to not copy their social media strategies. Social media is changing the way real estate busi- nesses promote their products and services online. This is something every real estate investor and small business owner must accept. However, you do not have to accept the “one-size-fits-all” social media market- ing standard. Instead, have a conversation with other investors and business communities whose social
Tom Olson’s Good Success Mastermind Group was created to help real estate investors and small business owners have “the right conversations” so that they can experience both personal and professional success and fulfilment. Learn more about the Good Success Mastermind and how you can achieve a higher level of conversation at GoodSuccess.com or email Tom at tolson@goodsuccess.com.
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