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Yo, yo!
This week, I flew to Hawaii to meet with my friend, Brandon Turner!
You probably know Brandon. He’s a real estate investor, author, business owner, and former host of the BiggerPockets show. Currently, he owns Open Door Capital and is the host of his show, A Better Life.
Brandon has been a personal mentor and friend, so I’m excited to share some key lessons from our FI Investors Mastermind call with him.
Brandon set out to start a real estate investing company. His initial goal was to own $50M in revenue. Instead of $50M, he wound up with over $300M in short time.
How did Brandon blow past his goal?
In 5 steps, I’m going to share Brandon’s process that he used to build his company and life he wanted, without sacrificing his lifestyle. I’ll share his tips, lessons, and frameworks that you can use to plan for, and start hitting your 2024 real estate goals.
Let’s use Brandon’s process to attack the new year.
The big theme for FI Investors has been that 2024 started December 1st. So let’s go!
1. Build wealth in concert with your identity
The way Brandon surpassed his goals was by being crystal clear with aligning the following:
Identity
Vision
Annual Goal
Quarterly Goal
Action
Everything starts with your identity.
Your identity is who you want to become.
In 2024, maybe you want get in better shape. So you want to take on the identity of someone who’s in shape. You want fitness and health to be part of your identity.
Don’t set goals based on what you want.
Set goals based on who you want to become. Start with a WHO, not a WHAT.
This is called Identity-Based Goal Setting.
Then work backwards from there to build the habits and take the actions that person with that identity would do.
2. Craft a Vivid Vision
When you know the person you want to become, you can craft the Vivid Vision for your life.
Brandon wrote his Vivid Vision, a detailed description of his future self’s business, as a newspaper article. It outlined what his company does, the impact they have, and how it ties in with his life.
Vivid Vision is originally a book about crafting the vision of your company.
Brandon, along with everyone in GoBundance, create a detailed Vision for their life so that they can align their goals and habits towards that vision of their future.
Having a vivid vision of the company helped him recruit top talent to join him.
When he shared his vision with a friend, it was so compelling that his friend wanted in. They became business partners.
When you have a clear vision and a clear direction, people want to follow you.
So have a clear vision for your life that aligns with your identity, or the identity of the person you’re trying to become.
3. Set process goals
Most people set arbitrary outcome goals, like “I want to be a millionaire.”
The problem is that they are focused the outcome, not the process to get there.
You can’t control the outcome. Focus on what you can control, which is your daily actions.
So set process driven goals and trust that if you do these actions long enough, the results will take care of themselves.
Examples:
Make at least 1 offer every week until one is accepted
Analyze 5 deals every day for the next 3 months
Go to the gym 5 days per week to lift weights
Set your process goals as quarterly goals. Quarterly goals work because they are 12 week sprints.
The purpose of the goal is not to hit the goal—it’s to become the person who hits the goal.
4. Define and Track
Nobody woke up shocked to have 6 pack. It’s the result of consistent action and habits.
Define the process you want and track the actions taken.
You can do so by tracking habits, actions, and constraints. Using fitness as an example:
Habits: Something you do everyday, like you take the stairs every day or going for a walk whenever you wake up.
Action: You go to the gym 5 days per week to lift weights. This is your dedicated time for progress.
Constraint: You don’t drink soda, eat fried food, or eat too much sugar.
I recommend using habit tracker so you get visual data to see if you are hitting your process goals or not. So if your goal is to go to the gym 20 times per month, you can mark off each day you go in your habit tracker.
The beauty of this is you can physically see your progress made on the process (via the checkmarks), before you see results from the outcome (like having 6-pack abs).
5. Who Not How
Who Not How is an amazing book by Dan Sullivan and Dr. Benjamin Hardy about leveraging other peope to do work for you.
This can be,
Business partner(s)
Virtual assistants
Employees
Years ago, Brandon had an assistant named Dave. About a year in, he asked him to edit the BiggerPockets podcast (when Brandon was still editing it). Dave did such a good job that he became the full-time editor.
Brandon was able to save the hours per week he spent editing the podcast to focus on more important areas of his life (like family, real estate, charity work, surfing, or jiu-jitsu).
Funny enough—years later, Dave is STILL the editor of the BiggerPockets Podcast and Brandon’s new podcast, A Bigger Life.
Brandon also leveraged his friends’ skills to build Open Door Capital.
He put people in positions they were right for. The numbers guy did their analysis, the sales guy became did investor relations, and so on.
He fit them into their zone of genius, that was in alignment with the company vision.
That’s a brief summary of our conversation with Brandon Turner!
If you want to dive more into any of these topics or just want more help achiving your 2024 goals, we created a free Educational Email Course to help! Just go to AchieveWealthYourWay.com and enter your email!
Best,
Diego
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