Had the tree loppers out today and they had to finish a job they started 5 weeks ago. They cut my tree down and they had so much work on that they have only now come back out to finish the job. The whole time whilst doing the job he was complaining about having "no time". How does he get back some of that time?
So 5 weeks ago when he took down the tree, and it was a massive tree he had a team of guys on the ground and loads of machinery. The tree took all day from 8am through to 5pm in the afternoon. He left the equipment on site as it was getting late and he had to come back the next day to collect it. He was not paid as the job was not finished. So he was 5 weeks without cash flow from this job.
Today he turns up to grind the stump down and remove all of the mulch... again he starts at 8am and by about 10am the belt had snapped on his peice of machinery. He had to load it back on to the trailer, take it back to the workshop, get it fixed and come back a couple of hours later. The job finished around 4pm. And, now finally he gets paid, 5 weeks later.
At the end of the job I got talking to him and he told me how much he loved what he did however, his biggest complaint was he had no time. We got talking about ways he could free up some of that time and also talked about what he would do when the business got too much for him. He was only in his mid-30's however he had already had a knee replacement and his back wasn't the best either.
I started to talk to him about the concept of 'trading time for money' and explained to him his business model meant he was charging for his time however, he only had so many hours in his day, week or month. Also, there was only one Andy! He should be considering a way of leveraging himself, his business or finding something that when done once he got paid ongoing, without little input from himself. There are two business models that I know, that can do this:
1. Real Estate
2. Online Business
Leverage is the key to these two business models I run an online business to leverage my time and I run a real estate investment company to leverage my money through the use of finance. Both strategies are very powerful... when you have them working together even more powerful. In the short time that I talked to him, I knew that an online business would be so far from his mindset and the available time that he has to build it. I could very quickly see how real estate would be a fantastic fit for him.
I talked to him about real estate and the possiblity of buying rental properties. I shared with him how this is a really powerful way to leverage money and time. All he has to do is source the right rental properties and do the rehab, source tenants and let the income come in. The benefits of him doing real estate is he is already running a business, a physical business where he employs labour. If any of the rental properties require labour he already has it. He runs a lawn care business and therefore can handle any maintenance when it comes to gardens. He also knows the neighbourhoods.
At the end of the 30minutes of talking to him, asking him all the right questions and really listening to him he was walking away with some sort of plan to start the process of real estate investing. At the end of the conversation it really felt amazing as in that short period of time a lot of trust and rapport had been built up as I made the conversation all about him and his problem of not having enough time. He could start to see the solution to his problem of "no time".
Ive talked about this in previous articles and that is 'holding space' for someone and this was a great example of doing that. By 'holding space' it really makes a connection to the individual and they really start to know you, like you and trust you, The KLT factor. The KLT factor is the most important process when building relationships with prospects or clients. When running an online business the best way to be doing this is adding value to them and connecting with them on a regular basis.