Episode 55: Shiny Objects vs Mastery

Commit to one thing and invest in processes, insistence, in team, and make that business, basically, absolutely predictable, predictable to the point of boredom. Hi, I’m Michelle Bosch, real estate investor, mom, wife, and host of the “InFLOW Podcast.” And I’m passionate about helping women invest in land and apartments. Join me each and every week for real estate investing strategies and interviews with thought leaders that will leave you inspired and ready to step into flow, for inflows of cash, inflows of ease, and inflows of grace in your life. Now here on YouTube are the video versions of my podcast. And in order for you to get my latest information, please go ahead and subscribe. And now let’s go.

Welcome to the “InFLOW Podcast.” I’m your host, Michelle Bosch. Excited to be here with you guys today. We are looking at probably by the time this gets released, probably sometime in early March, it’s actually February for me still at the time of this recording. And I thought it would be very valuable to you guys to come to you with a topic that has been…that I have been using an exercising discipline quite a bit in over the last week or so.

So the first 50 days of 2020, you know, were incredibly amazing, productive, they were go, go, go, go, go, go. And there was a lot of movement in my life and in that movement, a lot of opportunities came my way. Opportunities for which they’re wonderful opportunities and I do have, I think, a superior skill, a superior…you know, they’re quite of my genius, but that at the end of the day, I had to basically decline invitations to participate in a couple of things.

And the reason why I declined is because they were falling into what I call the category of shiny objects. And I want to expand a little bit on this shiny object because this is a shiny object syndrome I think is an epidemic that all entrepreneurs suffer from. It’s so incredibly hard, you know, to focus on one thing, to have the discipline to focus and repeat something and iterate on something until you build, you know, through that repetition, you’ve built mastery.

Very easily, you know, when we start something and something starts going really well, we don’t want to keep on that repetition and that repetition until we obtain mastery, things started working so well that we kind of stopped doing that. And I don’t know if that is something that you’ve ever experienced, but perhaps you’ve experienced, you know, maybe following a specific, you know, diet or a specific set of actions to get you to a deal. And that started working so well that deals became so predictable and so, you know, happening like clockwork that you got bored.

And I think that’s the biggest risk with us as entrepreneurs and as investors, you know, in real estate. There’s so many ways to skin this cat that we can very easily get distracted. And I think it’s in our nature really to be curious and that curiosity, and that desire, you know, and that need for growth for learning new things I think is one of the main key pieces of why we bring such incredible service to the marketplace, you know, but also could be the reason for our biggest demise. It can work both ways.

And that, you know, we’re incredibly creative in solving problems and solving those problems in the marketplace, and that requires curiosity and learning new things. But at the same time, in order to sustain that service that we’re bringing into the marketplace, you know, we need to focus on making that solution predictable, you know, for sellers, for buyers, for clients, for whatever it is that you’re doing. And in that predictability, you know, can come boredom because, you know, you’re doing something over and over and over again.

And so I think at this point, you know, is when you have to kind of recognize and realize that if we are to build predictable businesses, for example, in the land business, if we want to create, you know, a predictable land business, we need to invest in and commit to one thing. You know, there’s gonna be other aspects of real estate out there, you know, fix and flip, probate, multifamily, whatever. But my biggest recommendation, which is something, an exercise like I said, I just went through right now myself, is to commit to one thing and invest in processes, insistence, in team, and make that business, basically, absolutely predictable, predictable to the point of boredom.

And when that starts to happen, I think that’s when your team should kick in and ensure that that predictability continues and you continue to deliver in the marketplace. And for whoever, your main stakeholders, and for many of us it’s our family members, that want the predictability to know that we’re gonna be having freedom of money, of time, to be, to spend time with them, to put our families first incenter and foremost in our lives. And with that predictability will come a little bit of boredom. I want to call it boredom, but will come basically this aspect of repetition but that you don’t have to be involved in it 100%, you know, once you have mastered, and once you brought in a team.

Once you bring in a team, you have mastered and you’ve brought in a team or someone that can help you become the head to that horse, that that will give predictability and sustainability, that allows you to go and start looking at new things. But even when looking at new things, and that’s the biggest thing, even when looking at new opportunities, I want you to always use an opportunity filter of asking yourself two questions.

Number one is, you know, does it align with what I’m already doing? That’s number one. And, you know, does it align, does it mesh with my unique ability, with my genius and the genius of my team? And if it doesn’t, I would say, you know, to have the discipline to say no because sometimes a lot of these opportunities end up being what I call and I like to call these, especially, you know, for my husband we have a lifetime partnership of work, relationship, and collaboration, you know, in our businesses, we work together. And I always tell him, you know, that whenever he sees an opportunity like that and I see them too, you know, that we need to be careful not to jump onto a carousel.

And what I mean by jumping on a carousel is like if you go with your children, you know, to the, I don’t know, the fairground and there’s a carousel, and it’s wonderful, and it’s got horses or it could be, I don’t know, what theme it could be, and it goes up and down and you jump on the carousel, and you go for, like, that wonderful three-minute ride, you know, a spin and it’s awesome, and it’s all cheers and smiles, and you had a wonderful ride but then the carousel comes to a stop, you get off the carousel and you’re in the exact same spot.

And I want to bring that analogy a lot, you know, into businesses in that sometimes, you know, we were working on something, it’s working really well then we see something else and we go run and jump on that carousel. But at the end of the day, we get off that carousel and we’re in the exact same spot financially. And so, I want you to be mindful of that and be careful, you know, with jumping on such carousels and rather, you know, commit to one course. Follow one course till the very end, have mastery, bring in, you know, software, bring in team to help you scale, to help you have continuity, stability, predictability, and have heads to that horse before you step and decide to, you know, commit into something new.

And it requires, like I said, a lot of discipline. But in my experience, you know, simplifying our attention and our focus has been incredibly helpful in terms of allowing us to multiply. Because we all wake up, you know, at the end of the day, every morning, you wake up and you have, you know, so much of a tank of time and of a tank of energy. And you need to be very mindful and very discerning of how you’re using, you know, your tank of energy and time for the day. And you don’t want to be completely, you know, disintegrated and, you know, in a million different projects and in a million different directions, but you don’t want to be diluted is what I’m trying to say. And so, you want to focus on the one thing that is gonna move the needle forward the most, you know.

Don’t think that because you’re moving in busy movement that you’re moving forward, sometimes we’re moving, you know, sideways. We’re not moving anything forward because we’re so divided in our attention. That it’s incredible what focus can do, what creating a framework for yourself can do. And that framework can be, you know, an asset class. It could be that you want to focus on land or, you know, a specific type of land only. Maybe it’s only infolots [SP], maybe it’s all three, you know, but maybe in a specific geographical region of the country and so on and so forth. And you want to basically gain incredible mastery over that one aspect because that has…what that’s gonna bring you is a big power to really move that business forward and really bring your goals forward by not being diluted and disintegrated in 100 different pieces, you know, of things.

So think about, you know… I know Sophia in the past used to like to go bowling and oh my God, when we first started bowling, we were really, really terrible. And somehow, you know, somebody there at the bowling alley said, “Oh, perhaps you should get some little bumper paths, you know, for the lane.” And I wanna say that that is something that we need to do not just when bowling, but in everything that we do is we need to create for ourselves little bumpers, you know, little frameworks of a lane.

Pick a lane, create that framework and stay in that framework. And whenever opportunities do show up, because they will show up, you know, pass them through that filter of like today, you know, does this opportunity right now align with what I’m already doing? How does it align with what I’m already doing? And does it align with my, you know, unique genius and that of my team? If you already have a team.

And if it doesn’t, I would say, and if it’s still a good opportunity, perhaps you need to hire someone from the outside, you know, to become the head to the horse to continue exploring that opportunity while you continue gaining mastery over your domain, over the one lane that you have picked. And so, that’s what I wanted to leave you guys with and I hope this was valuable.

It’s something, like I said, that I just went through myself right now over the last few days. I had a little bit of downtown and I had a little bit of moments of time of reflection and of clarity. And I realized that even though those two opportunities that have been presented to me were, you know, fantastic opportunities, there’s definitely a growth potential there. But they didn’t align and that it would have been really pretty much a distraction from what I’m doing and what I’m trying to accomplish and they would have constituted for sure a…you know, I would have poured my heart because everything that I pour my heart into, you know, I give it my all and I’m 100% there like I’m all in.

And so something Greg would have come out of it but I know that in the main thing that I’m trying to create which is freedom for me and for my family, I would have probably done a few steps back, you know, by following, you know, those shiny objects. So let’s keep the main thing the main thing and happy focusing, you know, in this first quarter of the year. There’s still time, you know, to pick a lane, to get going, and to, you know, invest in yourself and gain that mastery that comes from intuition [SP], the ability to collapse time by looking for mentors outside of yourself.

You know, I, right now, just renewed mentorship with a couple of my mentors as well. I knew that those two opportunities, you know, when they came to renew work definitely aligned with what my unique genius, and with what I’m trying to accomplish, and what I have already going. I know that those two, you know, big investments are going to really, you know, bear quite a bit of fruit. So I went for it and I’m focused, I am a diligent, slow, committed learner that loves predictability, that loves sustainability, and that also enjoys, of course, the curiosity, the rush that comes, you know, with new things, with new projects, with new goals. But I have also come to understand how important it is to recognize, to pick one lane, to focus on one thing, bring it till the end, bring it to the finish line before you start something else.

So with that, if there’s things that are right now, you know, eating at you in time and energy, in bandwidth, in headspace, worries because you’re not getting to all the things that you want to do and all the projects that you want to do, you know, give yourself permission to basically to let go of some of those and focus on the things that are going to bring, you know, your biggest why into reality, that are gonna make that why in your dreams come true and manifest them in real material things. Whether it be hard cash in your bag, a new house, you know, a second home, private schooling for your kids, time with your elderly parents or with your young children, whatever it is, you know, just keep that why the main thing and don’t go diluting yourself out there and let’s all go for mastery. So very few people, you know, go for mastery and mastery can only come from focus.

So thank you so much. I would greatly appreciate a five-star review if you liked any of what you just heard right now during this episode or any of the other episodes from the “InFLOW Podcast.” It definitely helps me, you know, be found and go up in the ranks in terms of the rankings here on podcasts on iTunes or wherever you’re listening to this, and it helps me reach many more people. And until the next time, I wish you a wonderful rest of your day. Thank you very much. Bye.

I hope this episode left you feeling inspired and ready to get inflows of cash, inflows of light, and inflows of faith in your life. I welcome your reviews on iTunes. Please leave me a review and help me create an amazing community of women inflow. Thank you as always for sharing your voice by going to michellebosch.com and joining the conversation about this show. And while you’re there, grab a copy of my “Ten Commandments to Living a Life InFlow.” You can also follow me on Facebook at Michelle Bosch and on Instagram at Michelle Bosch Official. Thank you very much. And until the next one.

Thank you for tuning in to the “InFLOW Podcast.” It has been a pleasure spending time with you again on this episode of inflow. I also want to take this opportunity to invite you to a free master class that we are holding on Tuesday, March 10th inside of our Facebook group called the Land Profit Generator Real Estate Investing Group. And you can register for this master class which is a free master class like I said earlier. You can go register at www.landprofitgenerator.com/masterclass. Again, that’s www.landprofitgenerator.com/masterclass.

And it’s gonna be taking place on Tuesday, March 10th inside of the Facebook group. And you have to register in order to participate, it’s gonna be live. It’s gonna be actually be taught by myself and my husband, Jack, and business partner. And we would love to have you there. We are going to basically be uncovering for you guys and unpacking what are the top secrets, you know, that the top 97% of the most successful land flippers have used in order to create six and seven-figure breakthroughs in income. And so excited to share, it’s our very first of a kind masterclass inside of our Facebook group. And hope you can join us. So thank you again for tuning in and spending time. And until the next one. Bye. Thank you.