Hi, guys. Naomi Findlay here; Australia’s Rapid Renovation Expert. Today, I want to talk to you about the importance of strategy.
Many of you have heard me speak previously about the importance of having a honed area or a patch that we’ve focused our property search on.
I’m a big believer in life that things not only need to work financially, but they need to work from a lifestyle perspective. If things are hard, if things aren’t fun, generally we won’t do well at it and we will also find it too hard to continue.
Don’t get me wrong. I don’t think that everything should be super, super easy or is super easy. But not long term, to have longevity in a renovating for wealth business, it needs to fit in and suit your lifestyle or the lifestyle that you actually want to create.
After you’ve honed your patch, it’s so important that you fit it in with your strategy or you have a strategy.
There are a pile of things that go and weave into what makes up your strategy in a certain patch. The one I want to talk to you about today is your own variables. That’s right. You are accounted for in regard to the strategy that you’re going to be taking when you’re renovating.
There are quite a few things that are involved in this strategy. Actually, many, many things. I want to talk to you about four; the four top things today.
Number one is your knowledge. Do you have the knowledge or do you know where to get the knowledge or what to study to be able to complete renovations for a profit and to create wealth?
Is this limited to cosmetic renovations or can you find or have the knowledge to maybe complete some larger scale renovations?
Number two is your financial position. Check out your financial position.
- Do you have money partners you can work with?
- Are you able to leverage against existing assets?
- What is your financial position before you get started?
Number three is time. Some people might go, “I just don’t have the time.” I want you think laterally here.
- How could you create the time?
- How could you leverage the time?
- How could you use someone else’s time in your strategy?
Number four is your availability. Do you want to renovate full time or do you want to renovate in a hands-off capacity, part time or hands-on capacity part time to bring in extra income?
These are four of the many, many things: your knowledge, your financial position, your time and your availability for the things that just build up your variables in regard to what your strategy is.
Remember, guys. You need to think about what will suit your lifestyle or what you want your lifestyle to be like and create it.