How To Stop Procrastinating And Start Making Money
Posted by Patrick_Riddle
Filed under Private Money Articles
Is there something that you know you should do, that you know will move your biz forward… but no matter how hard you try, you just can’t bring yourself to do it?
Maybe it’s…
- Calling your first seller
- Making an offer
- Meeting with a private money prospect
Whatever it is… it’s time to stop procrastinating and start making money!
The “Negative Motivation” Technique
I got an email from one of my Platinum student partners, Heather, a couple days ago who FINALLY was able to stop procrastinating on setting up her first private money appointment. It was the one thing that she knew she needed to do, she knew it was the next step in building her business… but it frightened the heck out of her.
Enter the “negative motivation” technique… which I first learned from Unstoppable Confidence, by Kent Sayre (awesome book btw!).
Here’s how Heather used this technique to break through her fear and get her first appointment…
She attached a “negative motivation” of a monetary fine ($30 bucks paid to her son at the end of every day that she didn’t hit her private money appointment goal)… and that was enough to push her over the edge and set up 4 presentations the first day she implemented this.
Whoohoo!
So, how do you put this to work for you?
- what have you been procrastinating on more than anything else?
- determine what “negative motivation” you’ll use to force youself into action (doesn’t have to be monetary… could be not being able to watch a big game coming up with your favorite sports team or whatever would motivate you to get off your butt and into action)
- get someone to hold you accountable
There ya go… that’s a simple technique that you can implement today… so STOP procrastinating and start making money.
Leave your thoughts, questions, comments below.
Happy Investing!
– Patrick
Bless Ya Mr.P.Riddle ‘ Forgive Me I Have Sinn’d = i been attendind all sort’s of Webinars and still have’nt made a written offer and have talked to many to get me started ,only my issues and situations have been my road block= or hurdles to get me going as i also tend to many family issues and guess this is how god wants things to be handled and i do know im on my way once the teacher appears .i’ve got 5 books to read = implement to be sure i do the writting offers proper to protect me from illegalies….i have done gathering info on many deals,called on some and yet did’nt write a written offer,i did give verbals to properties and that does’nt help / so i learned that ? but yes i learned much from videos webinars and some reading and what im not is being consistant with my reading and following to do !!! thank you for this and i will go listen to the video. this and now im gonna go view your 9+minute .to more succes yes ?
I thought trevor was part of this ,same to ya trevor,
Great idea!
Patrick,
Thank you for this and Thank you GOD for bringing this to me at this very moment in time!!!
This definately helps!!!
GOD BLESS!!!
Hello Patrick,
This is good helpful advice for those of us that use all kinds of excuses to not get started. My excuse however, is getting private funding together. I have investors that are ready to get started, but I have no clue how to legally use investors money to buy real estate. What do I need to do to protect the investor and myself and still do it legally? Most investors want to see an Executive Summary which I have no idea what to provide in the summary. And others, on the other hand, want a business plan. What do I do to accomplish these goals? What agreements are needed to put the deal together with private funders? Do I have the private investor put their funds in a some type of escrow or send a check? What ROI should there be for the private investor?
Thanks and God Bless
Patrick –
Just say 3 hail Mary’s and you’ll be free of your sins. LOL.
Hi Patrick!
Thanks for the good tip. I’ll give it a try. : – )
Great idea, Patrick! This will be implemented.
I wonder why the positive aspect (what you will gain by doing it) is NOT enough? I’m asking b/c I can’t figure it out.
Is financial security not a good enough motivator? Or the new sports car; or the vacation you could take; or that nice diamond ring or necklace for your wife; or being able to spoil the kids/family??!! Why are these positive gains not enough to motivate us?
I also agree with Ernest and have the same questions.
Hey Patrick, “forgive me I have sinn’d”… haha… it’s ok man. Today is a new day… and it’s time to start taking massive action (on the things you know you should be doing… whether you’re comfortable or not). Keep moving forward and let me know if i can help with anything. Also, Trevor is still a PMBP faculty member… but he’s more behind the scenes.
Mary / Audrey / Leo, glad y’all enjoyed.
Hey Ernest, lot’s of good questions…
To protect yourself, your investor, and stay legal, you should get good legal advice. You don’t need an executive summary or biz plan to get private money. Just use my private lender PowerPoint presentation as your main tool. If you need the link for it, let me know.
A private lenders funds should go directly to whoever is doing your closing (title company / attorney). The ROI for your lender you want to offer is up to you. Many of our PMBP members get private money for 6 to 10% per annum.
Sharon, will do 🙂
Hey Keith, positive motivator’s are great too… but this technique specifically focuses on either depriving yourself of one of your positive motivator’s OR causing you to do something negative you really don’t want to do (like paying $30/day for not hitting your goal).
– Patrick
im afraid of a yes, and caint build my buyers list. I feel very uncomfortable making my first over without a buyers list. im also afraid of rejection.
Hey Candace, on building your wholesale buyer’s list, I think you’ll find it’s a lot easier than you think.
Here’s a tutorial (plus a free form) that will help you:
http://www.privatemoneyblueprint.com/members/5-easy-ways-to-build-your-buyers-list-plus-free-form/1648/
When learning anything new, it’s a little scary. But, you’ve gotta push through it. Use the negative motivation technique from this article to help.
Also, align yourself with other investors in your local market, network at your REIA. Being around and seeing other successful investors will help you break through your fears.
If I can help with anything else, let me know.
– Patrick
A man with nothing is unstoppable a man with everthing is predictable.
I thank God for you and every ones’ comments that hit home with me. I thank you for motivating me and I will accomplish my goals now and forever more because of this encouragement.
Hey Rod, thanks for sharing.
Eleanor, that’s what I like to hear! You’re welcome 🙂
– Patrick
Great tips! Procrastination isn’t always good.Thanks for sharing!