- If you want to learn how to invest in property
I personally think that there's 10 key skills
you should really try to master.
And skill number nine is to learn
how to put together a property-based business plan.
Today, let me share with you seven tips
that are gonna help you do exactly that.
(light jazz music)
Hi! My name's Tony Law from Your First Four Houses
and I teach people how to put
a small property portfolio,
that generates a great income for them,
so they can give up their day job if they wish
because they're now financially free.
If this your first time here,
be sure to subscribe to the channel
and click that bell notification icon
so that you don't miss out on any
of the free content that I give you each and every week.
So whether you're experienced or just starting out
I honestly believe that you need to start to think
about where you want to be this time next year.
Or maybe two years from now.
Or maybe five years from now, or whatever.
Because if you don't have an idea
of where you're going,
your kind of destination, if you will,
well, you're just never gonna get there.
Without a plan you tend to think short-term.
And that's why it's so important
to have a property-based business plan.
This doesn't have to be perfect.
In fact, any plan is better than no plan at all.
But you do need to start.
Can I suggest the time to start is today.
Now there's loads of videos out there
on YouTube that will teach you lots
of different strategies for
putting together a business plan.
And to be honest with you,
many of those are better
than I could produce for you.
So I'm gonna put a couple of links
in the description box below.
Just search "business plan", though,
and you'll come up with loads
of different, really good links.
But I do want to share the seven tips
that I wish somebody had told me
when I first put my business plan together.
Now the first of these is going
to sound perhaps just a little bit silly.
But you must write it down.
Write down your business plan.
There's no good whatsoever in keeping it in your head.
All I would suggest is it's not good
to actually keep it on an app,
or on a Word document locked away
on your computer somewhere.
So tip number one is to write it down.
Tip number two is simply to keep it simple.
I think just one page is enough.
Sure you can go into more depth than that,
but you need to have just one simple page
in my opinion, that clarifies
exactly what your business plan is.
Number three, start with a big vision
right at the top of your business plan.
And you want this to be a clear picture
of where you see yourself in 12 months' time.
If it is gonna be a 12-month-based business plan.
And I personally think that's where you should start.
And in fact, on that note, I want you
to put a date on that business plan
that is gonna be 12 months forward from today.
So you're gonna start off with your big vision.
Now I'm a realist and I'm willing to accept
that you may not completely fulfil your big vision.
But you do need a big, shiny red target to hit.
And that is your vision.
Number four, you now need to break
your big vision down into different categories
that you need to consider.
So for example, one of the categories
that might fall under your big vision is
maybe lead generation or how to finance your deals.
Or what training do you need to get?
Or maybe the networking meetings
that you need to attend, et cetera.
Lastly, within each of these categories
you really need to list out the actions
that you need to take to fulfil that category.
By the way, if you finding this video helpful
I would love it if you could just take a moment,
just click on that thumbs up button down there.
Really helps me if that's okay.
Tip number six is to read
your business plan every single day.
So I want you to put it up on a wall somewhere.
Maybe on your fridge, maybe on your desktop
so when you boot your computer up,
it's the first thing you see.
Don't forget this is only one page
so you can read it every single day.
Tip number seven, lastly,
don't be amend the categories and the action sections
of your business plan whenever you need,
and as you evolve and as you learn more.
But I would ask you to refrain from
modifying your big vision.
Because to be honest with you,
that's what drives you.
There's eight detailed video lessons
in the My Next Steps module of
my online property master class.
And these really break down the
whole process of business planning.
So if you'd like to book a 10 minute phone call
with me to find out if this online course might benefit you,
simply click on the link here
to book a time slot.
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