167 | (Weekly Wrap Up) ALL of My Excuses for Not Moving Forward

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Hello! I'm Chance Reynolds - AKA - That LLC Guy. Here's How You Can Follow Me everywhere to see how I'm building my businesses!

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[00:00] Alright guys, well it is Friday and so I guess the traditional work week is coming to an end. I was just talking to my wife about this yesterday actually because we were just talking about the weekend and kind of what's going to happen. Um, we were, I was just describing kind of how from here on out it's going to be very, very hard for me to ever take like a full weekend off since I'm running this business. It's just kind of one of the sacrifices sometimes you have to make if you want to operate your own business because a lot of the people that I'm dealing with or at least when you're working with entrepreneurs, um, and that's kind of your target market mainly because a lot of people actually work nine to five, so they work nights and so during the week if they're there, it's not a possibility for them to actually get on the phone. [00:52] Nine to five, which I don't keep my calendar open at night because I coached my son's tee ball team for one, which is a whole nother podcast. And in an of itself, how that ended up coming into play because it definitely wasn't something I was, uh, had signed up for thought I was going to end up doing, but uh, just kind of ended up doing that. Uh, definitely I don't want to say it against my will, but they just said we don't have a good, like we're not gonna be able to have a coach. So I had to do it. But, um, my nights are busy doing that and spending time with my son and my wife as well. Uh, so I, I also, my brain doesn't function at night. This is something that's happened forever. Like I'm a super early riser. I get up really early in the morning. [01:35] Um, that's the most productive time of my day or the first four or five hours of my day. I normally get up like, around in the fives, you know, so not something crazy. I see some people that their schedule's like, they get up at 4:30, they work out for an hour, then they eat some wheat grass or some shit. I don't do anything like that. Like, I don't have like a crazy morning routine that I do. I like to do this podcast early in the morning and uh, that's what I'm doing now, but my brain functions best in the morning. So I like to get all of my fulfillment side of my business done before lunch and then take my calls from lunch to fiveish. Um, if I'm doing like four or five hours of calls, so the day I don't like to spend more than five hours a day on the phone talking about the LLC, it's just my brain will just be complete mush by the end of the day because I'm handling, you know, somewhat high level questions about people's businesses. [02:34] I mean, it's not like something that's passive that I can read off a script. I wouldn't want to do a script even if I could. Um, I like to actually look at the situations that people are in and to give them advice based off that. Um, and that's kind of what being a lawyer is all about. Not like I'm actually an attorney to these people, but that's what you've trained your brain to be analytical. That's kind of the whole point of going to law school is being able to do that. That's where your worth is. And so that's like, you know, that's what I want to provide to people. Um, but after say five, 36 ish, my brain is not functioning at the same level that it was because I'm just, I'm tired. I want to just like watch mindless stuff and, and just hang out, um, at that point. [03:21] So I leave my calendar open on the weekends because of that, because some people that are working nine to fives, my calendar is not available to them and I don't want to have to make myself available at night so I have Saturdays and Sundays. So it's just like if you can't make a, make a consult on Saturday, Sunday or normal business hours Monday through Friday, whatever, normal business hours already, you know, like nine to five. Um, then it's just unfortunate, but I'm not, I'm probably not going to be able to help you with the consult. I could still pro chat back and forth. I don't mind doing some chatting and stuff after hours. Like, I'm definitely responding to emails and doing all those things, you know, in the evenings, but I'm, I'm just much, much smarter in the mornings and I want to have all my, you know, my brain cells functioning properly. So that's something that we've been talking about and I was like, look, this is going to be probably another year of this. [04:12] I mean, of course here and there I'll have the occasional weekend off. But um, for the most part it's not like we can disappear off the grid or something with this very specific business. Now if the real estate stuff starts picking up, and I described it earlier this week, I'm going to kind of try to break this podcast into two pieces. One piece, my existing LLC business, which is fully functional and profitable, you know, already. Um, in kind of what I'm doing for that. And I've talked about delegation on here a lot before. So people that are listening to that first part about the LLC business and they don't hear anything about me delegating very much of what I do. I don't really like to delegate a lot of stuff in that business. It's hard for me and until I get somebody that can work in the office with me like an intern, paralegal, there's only very limited things that I will outsource to the paralegal that I do work with. [05:04] So, or that works for me rather. Um, so that's that. But when it comes to real estate, the only thing that really has is holding me up at this point for moving forward with that is the marketing piece of it. And anyone who understands real estate, that's the whole thing. That's the entire business basically. Um, I don't really have the money to invest in, in the type of marketing that I want to do. I could. And this is not complaints at all, this is just where I'm at. I'm not saying that I couldn't do certain things. There are certain types of marketing that I definitely could do, like cold calling, which I've done, you know, a significant amount of. I have. I'm not opposed to cold calling whatsoever, but time wise I don't really want to spend my time doing that. So I'm not, you know, if I don't want to spend my time doing that and I don't have the money to do other things, um, to invest in other types of, of more passive marketing like facebook ads, Google ad words, um, it's, I'm still on the fence about whether or not I can really do bandit signs since I hold the license with the state as an attorney. [06:15] I can't. It's tough. Like I could get, I could get, uh, an ethical complaint real quick. Um, based off of bandit signs, I just don't want to really take that risk. So bandit signs really aren't in the cards for me right this moment until maybe I started working with somebody else, like a bird dog or something, um, that can do that for me. And then I'll pay a percentage or something like that. Maybe. Maybe that's something I'll do. But I would rather focus more on inbound marketing strategies than outbound marketing strategies with real estate. And you know, somebody that's more experienced to real estate would hear this and be like, what the hell are you talking about? Just get out there and do the work and that's half of it. That is half of it, but. And I don't disagree with that whatsoever, but I want to do something where the leads are coming to me. [07:01] They're already, they're choosing me. So like inbound marketing being something like facebook ads where you're targeting people on a list, like with a custom audience. I understand how facebook ads work. I've run tons of facebook ads, I understand the backside of facebook ads. I'm not going to like necessarily talk about how to build those right now. I'm not a google ad words expert. I'm probably, you know, I'm up there on facebook ads. I'm pretty knowledgeable about those so I probably would do something like that but I don't have the budget to do it, so I really would just honestly rather outsource it and it's way easier to delegate this stuff in a real estate business because of the type of people that you're dealing with. It's not specialized knowledge necessarily that you need to have. Like I need to have a, my llc business, so like I can't really outsource the talking to the clients portion of what I do, the consult portion of what I do in my llc business. [07:53] There's not really any of any of real estate business that you can't outsource. You probably don't want to outsource all of it. You want to figure out what the, what the couple of things are that, that you want to do and that you like to do and that you're most effective doing and, and, and do those things. But um, there's nothing to say that you couldn't completely have a passive real estate business where you have disposition people, acquisition people, your marketing company, however you're doing your marketing. That's always something that you could outsource. You don't have to, but there's all, there's always somebody that will do that at a price. Um, whether it's facebook ads, bandit signs, cold calling, you know, with virtual assistants inhouse callers. Like all of those things can be outsourced for sure. No question about it. So to me it's just a matter of putting aside some money. [08:41] Probably it's going to be another couple weeks, um, but maybe next week I'm going to hire. I can't decide if I want to do hire some cold callers or if I want to hire facebook ads, a guy that claim sees, you know, maybe he gives you 10 leads a week, but they're very, very targeted and NATO, they've taken an action to show that they want to sell rather than the type of marketing that I've done to this point, which is just a list of people who own two houses, absentee owners is what they're called. Um, and you're just asking, calling them up and asking them completely uninitiated whether or not they want to sell their house. And like 99 percent of them are just like, what the hell are you talking about? Why would it, why my son lives there? My daughter lives there. That's almost all of the absentees that I've talked to. [09:25] And I'm sure if you kept doing it, it would work. I think all of the marketing channels probably do work if you have the time to do it or the ability to outsource it. I just don't necessarily want to spend my time doing that, so that's why I can't really complain if a real estate is not moving forward because it's definitely a choice that I'm making to not spend my time doing those things. So it's not moving forward either way. It's been an awesome week. I really wish that a little bit more what to move forward with me actually doing the cold calling for this other company because to me that's worth it. So like if I'm doing it for someone else who already has an established team of people and I don't have to worry about the disposition and the actual acquisition meetings and meeting with the sellers and all of that, that would be a great learning experience. [10:09] I would love to do that. Um, but, and then just get paid kind of like a flat fee on, on each know if anything closes when it closes to me that's worth my time. But just cold calling and then I know I have on top of that I have to do all the other things. Um, because I don't have a team in place that's just not really in the cards with my llc business right now, so trying to figure out a way to, to, to make these two businesses work together. And uh, this one's a little bit longer than usual. So I hope everybody had a great week and we have a great weekend. Enjoy the long weekend. If you are taking some time off and I will be back next week.