January 4th, 2023
Something I’m Reading
Just started “The Genius of Jesus” by Erwin McManus. It's all about the genius behind how one guy from 2,000 years ago who completely changed the world. It's written by a Christian pastor but seems less like a religious book and more of a personal development book using Jesus’ example as a case study on being successful in life.
Something I Teach: Goal Setting that Works. A Three-Week BTB Series on Goal Setting
People often set goals based on something they want (or don’t want). More money, less fat, less work. But an alternate way to set goals is something I call “Identity-Based Goal Setting.” This is a way of starting not with WHAT you want, but rather WHO you want to become. What kind of identity do you want to adopt, long-term, for your life?
I first realized the power of this method of goal-setting when sitting in my hot tub with my friend Gabe. Gabe is ridiculously in shape. Like, you could wash your clothes on his washboard abs. So, in the hot tub, I asked him "Is it hard not to eat ice cream and chocolate and other stuff?" He laughed and had no idea what I was talking about. "Hard not to eat ice cream? It would be super weird TO eat ice cream. It never even occurs to me. So no, it's not hard. "
That's when I realized: Gabe wasn't in shape because he set goals around fitness and diet. He was in shape because his identity - his core belief about who he truly is - is a ridiculously in-shape person. That's how he truly views himself.
When I look at my own identity, I truly view myself as a pretty good real estate investor. Therefore, analyzing deals or making offers or building a team: it's not hard for me. It's just what I do.
And this is the key to this: hard actions are not hard when your identity drives them. It's just what you do.
So this year, maybe try asking yourself WHO do you want to become?
-Wouldn't you rather simply BE someone who has a six-pack, rather than constantly fighting for it?
-Wouldn't you rather simply BE someone who makes loads of money, rather than constantly fighting for it?
-Wouldn't you rather simply BE an amazing husband or wife, rather than constantly fighting for it?
I know I would. That's why identity-based goal-setting matter so much. It changes WHO you are, and the actions simply follow.
And by the way, the goal-setting retreat on the 11th…we're going to be doing Identity-based goals setting together, utilizing a framework I created called "I am, I do, I don't, I will" method. I think you're gonna like it!
Something I Photographed
I created this image using Midjourney, an AI art program. I simply told it some prompts, like "3d cartoon lumberjack, winter" and this is what it created. Guys…I’m telling you…AI is gonna change the world. It’s coming.
Something I’m Excited About
Getting back into the podcasting game after a one-year hiatus! You’ll hear more about that at the 2023 Goal-Setting Workshop on the 11th! If you still haven’t signed up, it’s not too late. Use code 2023DISCOUNT to get $200 off at 2023goalsetting.com.
P.S. 100% of profits are donated to the Tim Tebow foundation to fight human trafficking.
Something I Can Answer
Every week, I answer one question asked by a BTB subscriber. Have a question you want me to answer? Reply to this text with your question!
Question: “When should I start hiring? And what advise do you have for people with a limited budget?”
There are two types of hires (to use an analogy from my buddy David Greene) - Fish Catchers and Fish Cleaners. Fish Catchers go out there and generate revenue - lots more than they cost. Cleaners do the admin side, the necessary work, but don’t directly add to revenue. For example, an assistant is a cleaner and an acquisitions person for your flipping business is a catcher.
So, if you’re on a reduced budget, I’d do anything I could to hire Fish Catchers as soon as possible. The right one will almost immediately put $$$ in your bank - more than they cost themselves - and if they don’t, you can let them go. Alternatively, if you are an awesome fish catcher, maybe you need one fish cleaner to organize your life so YOU can go out and catch some fish. Either way, I would do almost anything to bring this person on.
Now, that said, if you don’t have a budget for hiring, AND if your business doesn’t generate money right away (even with a great catcher and cleaner) then you have a problem. Even a great catcher and cleaner won't help. In that case, I'd partner with others or use internships until you have the money to pay them.
But either way, the sooner you can turn your business into a “Team Sport” - the better.
(Also - learn to lead. It doesn’t matter how good your catchers and cleaners are. If you can’t lead them…it won't work.)
Your Friend,
P.S. Comment below and let me know your thoughts on this week’s BTB! Please be friendly :)