Today I wanted to talk to you about the nine traits of our most common business owner customers. Now, as you may know, being a mortgage broker my niche and specialism and expertise are all focused on helping self-employed business owners to buy and invest in property.
Having had success now with over 500 business owners and speaking to more and more and more on a consistent basis. And I’ve spoken to thousands of business owners over the last three years. What I’ve really come to realise is that there are some common traits between who we had the most success with and who is buying property, who are building their business, who are having more success than everybody else. And I’ve tried to put that into nine commonalities that we can all adopt and we can all employ and we can all put into action so that we can have the same success that they are. If you model the greats and if you model people who are doing the things that you want to do, say, achieve, then you’re going to start to get those results.
1. Mindset
So number one, they everything in my opinion first of all, but these people have all got the same view or all have this is the right mindset. Mindset is the key and the focus to everything. If you believe it, you can achieve it. You can make things happen if you really want to make things happen. But if you come from a place of glass half full negativity, you’re surrounding yourself with the wrong types of people, then your mindset is not going to be in the right space. They’re exercising, they’re focusing on their health, they’re focusing on fun, family. And that all helps to have the right business mindset and looking to grow your business so that you’ve got the profits that you need to be able to buy your dream home and invest in property.
2. Control Freaks
The second thing that they’re ultimately looking at and it is being a controller. They are control freaks. I’m a control freak, that’s why I’m a business owner and why I’m self-employed. But the one key thing that I understand and these people understand is the need for leverage. You cannot do everything yourself. You have to delegate. You have to surround yourself with people better than you at certain areas of the job or certain areas of your business so that it can grow. By having the right people in the right seat and enables you to leverage, enables you to skyrocket and ultimately you have to overcome that fear of being a control freak and put faith, put trust and put respect into the people that you’re working with that you’re choosing to work with. And this is what these guys and girls are coming to me as business owners.
They started out with the right mindset when it comes to buying property. They’re understanding what we’re going to do for them as a broker and then leveraging out the research and the advice and everything that comes with buying property in today’s day and age. So this all is relevant to you in your business, no matter what industry you are in.
3. Get Sh** Done
Number three are clients who want to get shit done, who wants a make it happen. You don’t want people who are going to drag their heels. And the most successful clients that I’ve worked with over the last three years wants to get stuff done. They want to make it happen. They know what the goal is and they are focused so much on that that it’s all about setting the wheels in motion. And that’s number three realistically, they want to get shit done.
4. Make It Happen
And number four is they don’t want to wait for it to happen. They want to make it happen. And that comes back to the right mindset. There’s no point in saying should, would, could, and I see a lot on social media about, reaching retirement and having regrets. Getting older and later in life in wishing you could have done this, you should’ve done this. It’s all about making things happen, building your business in the right way, and ultimately making sure that you’ve got the profits and the business that you want to be able to do the things that you want to do. So don’t wait for things to happen. Go to make them happen. Where there’s a will, there’s a way, there are so many analogies. Where do you think these things come from? It comes from people with past experience who have done these things already and that is where the right business owners are adopting the right kind of mindset to go and do it.
5. Know Your Numbers
Number five is a real shock and a surprise for me because the number of business owners, self-employed individuals, even employed people who don’t know their numbers, they don’t know what their gross earnings are. They don’t know what hits their bank every single month. They don’t know their turnover, their expenditure, their profit. They don’t know what their salary and dividends are. They don’t know what their goals and their targets are for the next 12 months. If you don’t know your numbers, how are you going to be able to set out and achieve the goals and the outcomes and the things that you want to have in life? Knowing your numbers is key on a daily, weekly, monthly basis to be able to grow in the most profitable way and to be able to look, to build a property, exit from Your Business, and ultimately to be able to take things to the next level. If you don’t know where you are now, how are you going to know where you’re going to go? And knowing your numbers as a business owner, as an entrepreneur, as a sole trader, is absolutely key.
6. Plan for Today, Prepare for Tomorrow
Number six, planning for today, preparing for tomorrow and protecting their future. The clients that I work with are not just thinking about today, they have to think about today. They have to think about the battle plan. They need to know what they need to get done on a daily basis. They’re setting targets, they’re setting goals, but they’re looking at the bigger picture of preparing for tomorrow. What’s tomorrow going to come? What’s the next quarter looking like? What is the ultimately the next 12 months going to look like? And it’s all about protecting the future because you need to make sure that your family is secure, you’re secure, you’re safe, your health is in the best possible position.
If you’re not doing things today that are going to affect tomorrow and beyond, then what is the point? And it comes back to reverse engineering. A lot of people look at this from a point of view of saying, where am I today? Where do I need to be tomorrow? And what are things look like in the future? My belief is that you need to say, where do I want to be in 12 months? What do I need to do in each quarter to make that happen? And then break that down into weekly and daily actions and tasks to move you closer to your goals. And that then enables you to plan for today, prepare for tomorrow and start protecting the future of you, your family, your health, your business, whatever it might be.
7. Invest In Yourself
Number seven is all about investing in yourself. And I did not do this at all until three years ago. The first course that I did was with NLP dynamics. It was an NLP practitioner course. I qualified in that. But prior to that, I’d done nothing since school and college. And the biggest thing is going on courses that are relevant to the areas that you want to succeed in or the knowledge that you want to gain. Listening to audiobooks, listening to podcasts, filling your brain with more information that is going to help you to grow, to learn, to educate, to inspire so that you can actually start to put more … The more you invest in yourself, the more you’re going to be able to invest in other aspects of your life. And that investment is in knowledge, is in education and is in understanding and becoming an expert in the things that you need to become an expert in. If your goal at the moment is to generate leads online, then you need to become an expert in generating leads online.
If you’re not converting as many clients as you would like to, then you need to become an expert in sales. You need to invest in yourself. And that investment in yourself also comes in the form of coaches, mentors, and people that can help you. The world’s sports people have coaches, footballers, athletes, they’ve all got coaches, they’ve all got somebody who helps them with their diet, with their training, who holds them accountable. I have a business coach as my business skills have grown, my business coach and the expenditure and the investment that I make with my coach has grown. And you need to be investing in yourself, in someone who’s further ahead than you, that you can leverage and you can work with and you can learn from and you can pay them to get information that’s going to help you to achieve your goals much, much faster. Look at things as an investment, not a cost.
8. Make Quick Decisions
Number eight, being able to make quick decisions and not procrastinating. And that comes back to having a coach. A coach can really help you stop procrastinating. But being able to make quick decisions. If you’re constantly dilly-dallying around, you’re going to miss opportunities. You’re not going to get to where you want to get to as quick as you potentially could. You need to be able to think fast. You need to be able to … If you’re buying property, you need to go see it, like it, offer on it. If you’ve got a decision about a staff member, then you need to review it and get rid as quickly as possible someone said to me ages ago, hire slow, fire fast. You need to be able to make quick decisions. And it’s really, really important to be able to do that in a calculated and structured way and not just make rash irrational decisions. It needs to be logical, it needs to be calculated. But if you can’t make those decisions, you are going to miss opportunities in your business, in your growth, in whatever you want to achieve.
9. Take it Day by Day
And finally, number nine, I find business owners are most focused on the outcome. They’re not looking at anything else over them where they want to get to. You have to do an element of day to day, as I said, from planning for today and preparing for tomorrow. But they are so focused on the outcome that they want to achieve, whether it’s the outcome that their clients are going to get, whether it’s the outcome and the goals in terms of where they want to go. They look at the dream home and that’s what they want to achieve.
So that is what they take into their business every single day from a focused standpoint to be able to look at the growth that they want to get. So they’re focusing on the outcome and that’s what you need to do in order to be able to succeed. So that’s my personal view when I’m looking at the business owners that earning or making a £100,000 to £250,000 a year. The mortgages that we are doing that are well in excess of £800,000. There are common traits between with these individuals that I’m speaking to and those common traits if you can adopt them, and if you can put them into action every single day, then you are likely to start getting the same results that they can. So thanks very much. Look forward to seeing you again soon.
If you Like this Blog Post then check out this one I did on: 12 Lessons From 12 Years In Business!
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