Mentor or Business Coach?

[Joshua Jackson]

So to be frank, what I really need is a good hard kick in the ***.  I have been stuck in what's called "analysis paralysis", with this group, for quite some time and I just can't seem to get out of my own way.  I am a licensed building contractor and own two businesses, one is a kind of handyman service performing maintenance and repair for various types of clients, although we don't like the term "handyman".  The other is a restoration company, this company is young and our model, for now, is to be the turnkey solution to the big guys in the industry who already have the relationships established, ride their coattails and catch as much of the change falling out of their pockets as possible until our brand is known a little better. I also work full time for a construction company as a project manager remodeling in the hospitality industry all over the country.  Would like to drop the day job and focus on other areas of growth in my own businesses, but I'm not there yet....at least that's what I tell myself, when in reality I'm just scared as hell to lose the paycheck and it's nice to have the W-2 on your side when it's time to go after loans.

Along with this, I have two other business ideas that I really want to get going and both of these ideas could work in conjunction with the business that I have running IF I could outline a structure, I think.  One services the buy and hold community and the other is a fix and flip business creating products based on forced appreciation. The problem is I have no idea where to start other than BP, the only reason the two businesses I have now work is because of two key players, without them I only have my day job and that's not the point of the exercise.  The point is to diversify my income streams in the hopes that I will be able to ride out downturns in the economy, a lesson I learned in '08-'15 working in the construction industry.  I know it was hard for everyone, but construction defiantly took it on the chin.  I was fortunate enough to be able to slide throughout the industry's niches and ride the wave.

So my questions is: What makes more sense if I had to choose, hire a business coach or try and find a mentor?  I would think both, but I have no idea where to even turn, so I turn to BP. I will say this; I will not turn down anyone who offers the opportunity for my growth and development.  So for instance if I were to come across a successful investor who focuses on by and hold, which would not necessarily be my main focus in real estate, I would definitely offer up whatever I could.  My strength is on the construction side of this or bird dogging new prospects (as I mentioned, I have a lot of practice and never pulled the trigger) with a realistic remodel and repair budgets and then managing the process within those budgets.

My ideal mentor would that of a "spot builder" for spec homes. Someone that builds new from the ground up on vacant land (or tear downs) in established neighborhoods with connections to other investors who would put skin in the game for land acquisition and/or construction costs and then we divvy up what's left over after the sale OR the investor buys us out of the deal, as their strategy might be buy and hold.  I know I would rather hold onto an asset that did not come with large capital expenses for a the next 7-10 years rather than dealing with an existing property.  I could build 7 of these simultaneously in my market as a side gig in my spare time fairly easily, from a pure construction management standpoint, that is. As far as a forced appreciation strategy investing, I like the idea of spec builds rather than rehabs. 

My ideal business coach would have the mindset of the three most influential books I have read that has lead me to where I am today.  This is to create a structure of business based on the E-myth that gets me, the technician out of the way, that allows an entrepreneurial mindset of the four hour work week and start living, with a philosophy that aligns with think and grow rich; success in any endeavor can be achieved through mental visualization, imagination and harnessing the power of your own mind.

So if anyone happens to know anyone in the central east coast area of Florida I would love to hear from them.