Latest / The Property Entrepreneurs Podcast with Alasdair Cunningham / When the Business Works and You Suddenly Feel Lost

Transcript

When the Business Works and You Suddenly Feel Lost · The Property Entrepreneurs Podcast with Alasdair Cunningham

• 0:04
  SPEAKER_00: Welcome to the Prophet Podcast.
• 0:06
  SPEAKER_00: My name is Doc Coming with 625 75.
• 0:13
  SPEAKER_00: Now, if you're looking to build a frog to business, we'll be coming to every single day at 7am with strategies, insights, and techniques at work today.
• 0:21
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• 0:22
  SPEAKER_00: We're on Spotify, Apple Podcasts, and Audible.
• 0:25
  SPEAKER_00: Let's crack on it and let's build your business.
• 0:35
  SPEAKER_00: Hey, good morning, everybody.
• 0:36
  SPEAKER_00: Hope you're good.
• 0:37
  SPEAKER_00: Welcome to the Property Entrepreneurs Podcast.
• 0:39
  SPEAKER_00: My name is Alistair Cunningham, and in today's show, we're going to be taking a bit of a different, a different approach to today.
• 0:46
  SPEAKER_00: Today I want to talk about day-to-day life of entrepreneurship, particularly in property, because you know it is tough, okay?
• 0:56
  SPEAKER_00: And, you know, the reason why I'm I'm doing this this episode today is I actually had a call with one of my clients yesterday, and they're having a bit of a tough time right now, and they uh they they have given me permission to share uh a little bit.
• 1:11
  SPEAKER_00: So I'm not going to share their name and their details and stuff like that, but I'm going to share some of the experiences that they're going through right now and just um let you try and understand, you know, that this is it's normal and it's okay.
• 1:24
  SPEAKER_00: It's okay, okay.
• 1:25
  SPEAKER_00: So situation I've got with a client is, you know, they've been involved in in property now for some time.
• 1:32
  SPEAKER_00: They've been taking a lot of action, uh, they've been getting results, and they've been making money.
• 1:40
  SPEAKER_00: The problem is that they're not used to making money.
• 1:44
  SPEAKER_00: So and I know that sounds like a bizarre problem to have.
• 1:48
  SPEAKER_00: It really, really does.
• 1:50
  SPEAKER_00: Um, but the the the problem is this, okay?
• 1:53
  SPEAKER_00: This particular client's gone from working a job, you know, being very busy.
• 2:00
  SPEAKER_00: So they were working 40, 45 hours a week, plus they've got their life going on and they've got things happening every single day, and they were running their business, you know, and they were dealing with day-to-day nonsense and day-to-day problems, okay?
• 2:14
  SPEAKER_00: So they're they're they're doing a lot and they're very, very busy.
• 2:18
  SPEAKER_00: The client was very fortunate that about three months ago was able to actually reduce the hours that she does at our work.
• 2:24
  SPEAKER_00: So she only actually works one day a week, and that's that's on a Monday.
• 2:28
  SPEAKER_00: So Tuesday to the to to Sunday are essentially that's her own time to do whatever she wants to do.
• 2:38
  SPEAKER_00: And if she's being completely honest with herself, she feels very lost now.
• 2:43
  SPEAKER_00: She's gone from being you know, busy, occupied, felt fulfilled to now her properties are making money, they don't need her every day to be involved.
• 3:00
  SPEAKER_00: Her property business is is doing okay.
• 3:03
  SPEAKER_00: I mean she's making five to six thousand pounds a month profit, that's enough to pay all of her bills and give her a nice lifestyle.
• 3:10
  SPEAKER_00: She wants more, of course.
• 3:12
  SPEAKER_00: But the problem is when you go from being super busy to really not having much going on, especially if it's your first business, it's a it is quite a difficult thing to deal with because you've gone from structure to no structure.
• 3:28
  SPEAKER_00: And if you're not used to having to create structure on a day-to-day basis, um you you you actually do realize there is a hell of a lot of time in the day if you've got things happening passively for you.
• 3:42
  SPEAKER_00: I I do see this a lot.
• 3:43
  SPEAKER_00: I I really do.
• 3:44
  SPEAKER_00: And and I've seen this in myself as well.
• 3:47
  SPEAKER_00: You know, automation, systemization, and it frees up a lot of your time, and you're like, okay, what am I going to do now?
• 3:54
  SPEAKER_00: And it's it's very easy to say, uh, I'll do that job tomorrow because today I'm gonna rest, but then ends up being not one day, two day, but three day.
• 4:02
  SPEAKER_00: And before you know it, you then start kicking yourself for not doing what you said you'd do on the Tuesday because you know you're you're you've gone into rest mode.
• 4:11
  SPEAKER_00: And it look, I've seen this a number of times.
• 4:14
  SPEAKER_00: Um, I had a client a couple of years ago, her job her whole goal was to quit her job, um, and she actually managed to quit her job within about four months of of working with us.
• 4:23
  SPEAKER_00: And she, I remember she rung us up and said, Alistair, I've just handed my notice in, and Friday's my last day.
• 4:28
  SPEAKER_00: And I'm like, fuck, that's awesome.
• 4:30
  SPEAKER_00: So I actually drove up to Newcastle to celebrate with her and have to take her out for dinner and and just celebrate with her.
• 4:36
  SPEAKER_00: And I got up there, and you know, when I went to say hello to her, uh, me and my partner were there, we I gave her a hug and she just started crying.
• 4:44
  SPEAKER_00: And I'm like, what are you crying for?
• 4:46
  SPEAKER_00: And she goes, Alistair, I don't know what to do, I'm shitting myself.
• 4:49
  SPEAKER_00: And it's like, this is what you've always wanted.
• 4:51
  SPEAKER_00: And she goes, Yeah, I know, but I'm just worried now.
• 4:54
  SPEAKER_00: And it's the same as my client I spoke to yesterday.
• 4:57
  SPEAKER_00: Look, they're winning, okay, because they're able to quit the job and replace their income.
• 5:02
  SPEAKER_00: All they have to do now is just is just replace the structure that the job gave them with the structure that they create for themselves because you've gained time, and it's okay, by the way.
• 5:14
  SPEAKER_00: It's okay to go through that period of all right, I'm now out of my work, I've got time on my hands, I can, I can, you know, I can have a holiday, I can have a break, I can rest.
• 5:25
  SPEAKER_00: Because, you know, this lady has been working for a long part of her life and she does deserve a break.
• 5:32
  SPEAKER_00: She just needs to create some structure around her business so that she doesn't feel like she's not achieving anything.
• 5:38
  SPEAKER_00: Because that's really what it boils down to.
• 5:40
  SPEAKER_00: What it boils down to is she feels she's going backwards, not forwards, and she feels like she's not achieving anything because she's not busy every day.
• 5:48
  SPEAKER_00: And that's a big thing to overcome when you're used to being busy.
• 5:53
  SPEAKER_00: So when you're used to running around, driving all over the place, and you know, having meetings left, right, and centre, having people chasing you for things, and you go to not having to deal with that, it really is a big thing that you have to overcome.
• 6:06
  SPEAKER_00: Now, what I advised my client to do is just create some structure around what you're doing.
• 6:13
  SPEAKER_00: So, for instance, yesterday we got clear on her goals.
• 6:17
  SPEAKER_00: So, so she wants to grow her business, she wants to grow her um contractor business, so she provides accommodation for contractors.
• 6:25
  SPEAKER_00: So she wants to grow that business and get some more properties, um, and she wants to, you know, make that a much bigger business.
• 6:33
  SPEAKER_00: And I'm like, okay, great.
• 6:34
  SPEAKER_00: So that's the focus.
• 6:36
  SPEAKER_00: So she's got her area that she works in, and she's got the strategy that she works with.
• 6:40
  SPEAKER_00: So now it's about putting the structure in place to grow that business and to automate it and systemize it and bring in things that that you know deliver her leads on a daily basis.
• 6:53
  SPEAKER_00: Systems and processes, okay?
• 6:56
  SPEAKER_00: Double down, build the business.
• 6:58
  SPEAKER_00: So one of the things she struggles with is working from home.
• 7:03
  SPEAKER_00: Like she's got a home office, but she really struggles with going in there and staying in there and actually doing stuff.
• 7:08
  SPEAKER_00: So my advice to her is you know, go to like one of these We Work Centers or community working spaces or a cafe or something.
• 7:16
  SPEAKER_00: Like, actually commit to, you know, if you've got something you need to do, maybe she needs to shortlist properties, maybe she needs to carry out due diligence, maybe she needs to phone agents.
• 7:28
  SPEAKER_00: My advice to her was okay, if you know you've got a job to do, actually put it in your diary and go to a cafe or go somewhere where there's a bit of a bit of atmosphere and actually work from there because it makes you feel better when you're getting out of the house and you're, you know, you're being you're able to work from another place, okay?
• 7:47
  SPEAKER_00: And you know, I go through this all the time because I have a home office and I work from home a lot, but I also like to just get out and go for a drive and work from my car.
• 7:56
  SPEAKER_00: So most of these podcasts they get filmed from my car when I'm driving to wherever I'm driving to.
• 8:03
  SPEAKER_00: Um, it's a great use of my time.
• 8:05
  SPEAKER_00: And I said to her, look, all you gotta do is put structure in, right?
• 8:10
  SPEAKER_00: Just put structure in and understand it's okay to have a couple of hours or a couple of days where you don't do that much.
• 8:18
  SPEAKER_00: As long as that money still comes in, you can overcome every other obstacle, okay?
• 8:24
  SPEAKER_00: So I've asked her to go to go and work on a business plan for you know what she wants to do.
• 8:31
  SPEAKER_00: I want some personal goals and I want some business goals.
• 8:34
  SPEAKER_00: And I want her to really like envision what that looks like.
• 8:39
  SPEAKER_00: You know, she's spent 20 years working as an employee, she's always dreamed of having financial independence, she's now got it, and it's actually becoming a bit of a nightmare for her because it worries her.
• 8:50
  SPEAKER_00: And it's normal, guys.
• 8:51
  SPEAKER_00: It really, really is.
• 8:52
  SPEAKER_00: It is, it is the it's the entrepreneur's curse.
• 8:55
  SPEAKER_00: When you get to a point where your business is actually working and you've got more time in your hands and you know what to do with, and your friends and family are all at work or they're all out and about, and it's just you sat on your own at your house, it does get a little bit lonely sometimes.
• 9:09
  SPEAKER_00: And the world of entrepreneurship is lonely, it really is.
• 9:12
  SPEAKER_00: And this is why it's so important to have sessions like this.
• 9:15
  SPEAKER_00: This is why it's so important to have mentoring.
• 9:18
  SPEAKER_00: This is why it's so important to have networking groups and you know, little circles of friends that are all in the same sector and the same community groups, okay?
• 9:27
  SPEAKER_00: Because when you're feeling low, you've got somebody to go to.
• 9:30
  SPEAKER_00: Look, she's gonna smash it.
• 9:32
  SPEAKER_00: She just needs somebody to just steer her in the right direction.
• 9:36
  SPEAKER_00: And, you know, with that, with her plan, with her goal, with her drive, you know, I I have no doubt she'll be, you know, a six-figure earner within the next 12 months.
• 9:45
  SPEAKER_00: None whatsoever, right?
• 9:47
  SPEAKER_00: I want you to remember you're trying to build a business here.
• 9:52
  SPEAKER_00: It's not going to be easy.
• 9:55
  SPEAKER_00: It really, really isn't, okay?
• 9:57
  SPEAKER_00: And if you do one thing for me today, okay, go on to YouTube and there's a just go into the search bar and and type in everybody dies but not everybody lives.
• 10:08
  SPEAKER_00: And there's a a video by Prince EA.
• 10:12
  SPEAKER_00: And he talks in there about success.
• 10:16
  SPEAKER_00: He talks in there about winning and about achievements and overcoming failure and rejection.
• 10:23
  SPEAKER_00: And I really want you to understand, entrepreneurship is not winning all the time.
• 10:29
  SPEAKER_00: It's days when you, you know, you have regret.
• 10:32
  SPEAKER_00: It's days when you question your sanity, it's days when you, you know, you just want to curl up into your bed and you know, just honestly, just forget about the world for a few hours.
• 10:49
  SPEAKER_00: That's normal.
• 10:50
  SPEAKER_00: It is.
• 10:51
  SPEAKER_00: It really is.
• 10:52
  SPEAKER_00: So don't kick yourself if that's happening for you.
• 10:56
  SPEAKER_00: If you are quick struggling, if you are needing a quick pep talk and you you're needing a a quick chat, listen, reach out to me, I'll give you a quick phone call.
• 11:07
  SPEAKER_00: I'll get you back into shape, I'll get you back into gear.
• 11:10
  SPEAKER_00: All right.
• 11:11
  SPEAKER_00: Look, hope you found today useful.
• 11:12
  SPEAKER_00: Remember entrepreneurship is about doing the things that people will never do because then you'll get what people will never get.
• 11:21
  SPEAKER_00: Hope you found today useful.
• 11:23
  SPEAKER_00: Perhaps somebody you know needs to hear this today.
• 11:25
  SPEAKER_00: So send it to them.
• 11:27
  SPEAKER_00: Support your friends, support your colleagues, most importantly, support yourself.
• 11:31
  SPEAKER_00: Uh, peace out, speak to you tomorrow.
• 11:39
  SPEAKER_00: That's it for today, folks.
• 11:40
  SPEAKER_00: Thanks for tuning in to the Prophet Entrepreneurs podcast.
• 11:43
  SPEAKER_00: Hope you got massive value from today's show.
• 11:45
  SPEAKER_00: Share it with a friend, make sure you're liking it, make sure you're following it so you get the notifications the next time the show comes out at 7 a.m.
• 11:52
  SPEAKER_00: tomorrow morning.
• 11:53
  SPEAKER_00: Also, jump over onto Instagram and Facebook, drop us a comment, let us know what you thought of today's show.
• 11:57
  SPEAKER_00: Head over to Allison.com for the main website to get free resources, free training, and keep up to date with what's going on in our world.
• 12:06
  SPEAKER_00: Remember, property is all about building systems.
• 12:08
  SPEAKER_00: Create the systems, create the system.
• 12:12
  SPEAKER_00: Now go out and make the business out of it.