How Brokers, Lenders and Investors can TRIPLE Their Income with ONE SIMPLE Rule

[Don Konipol]

Brokers, lenders and investors spend WAY too much time on deals with little chance of ever closing.  They do this to “fill” the time on their hands. To greatly increase your income, wealth and success, work ONLY on deals with the greatest chance of closing.  With the time freed up by NOT working on deals with little to no chance to close, spend that time marketing, selling and searching for new deals that have a greater chance of closing.

So what’s the rule?  Rank all the deals you’re  working on from most likely to close to least likely,  Now take the top half and write those down on one sheet of paper.  Take the bottom half  and write those down on a second sheet.  Now throw out the second sheet.

This alone will increase tour income 50%.  So how do you get to TRIPLE your income. Well, that requires two more steps. 

First step: Rank your list of top half deals likely to close by income to YOU. Yes you guessed it.  Throw away the bottom half, work only the top half, and spend the freed up time marketing, selling, searching for deals meeting that criteria.  Now you’ve got to doubling your income. 

Most people won’t do this because they don’t want to sell, market or search and or they don’t want to spend more money on marketing. 

Second step: Go back to your original list. Now calculate the income to you for each deal AND the expected chance of closing.  Then multiple to get “expected value”.  So if a deal closing will net you $500,000 and it has a 10% chance of losing the expected value is $50,000.  If a deal closing will net you $25,000 and has an 80% chance of closing it will net you $20,000.  Now rank these for expected value.

Here’s the HARD part.  Throw away and stop working the bottom half of the deals.  Only work on deals that have the HIGHEST expected value.  Almost NOBODY will do this.  Almost everyone will be unable to give up the “sure” deal even if it nets them an amount below the expected value of more than ”risky” (less likely to close) deals. Admittedly it’s VERY hard to do.  The tendency is to just “cheat” a little. And to remain where you are financially. 

I did just this years ago.  And within two years I tripled my income, and never looked back. .