- Everyone in any kind of business needs to think of themselves as a marketing company first.
- The more business you attract via smart marketing efforts, the less you have to worry about adjusting your services or prices to be competitive.
- Spend at least half of your time thinking about marketing.
No matter what industry your business is in, including real estate investing, you need to consider yourself a marketing company first. Marketing objectives should be a top priority and something that you take seriously and spend time on every day.
The more leads and customers you can bring in the door or to your website to apply for your services, the more business you will attract and products you will sell.
By getting more business in the door than your competition, you can worry less about pricing your services competitively. So many businesses and services feel that they need to undercut their competition in price to get business.
You have a valuable product or service that is worth the price you are charging. Stop worrying about price, and devote energy to creating more leads, clients and relationships.
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Think about the term “small pipeline syndrome.” It’s a term that means you don’t have enough customers, leads or deals. You’re always chasing the next one, and you look desperate. And a lot of times you do deals for the wrong reasons. If you’re constantly marketing and going out to find new business, it will come in continually.
Sometimes this takes a lot of time if you’re a newer company, but you need to make sure you’re prioritizing your day with plenty of marketing and taking it seriously.
If you’re not spending at least half of your time generating more business, stop doing what you’re doing and prioritize that.
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Chris Haddon is an entrepreneur based in Washington, D.C., a partner at Hard Money Bankers and a co-founder of REI360.net.
