Don’t Chew Through Your Life Savings Because of the Shiny Penny Syndrome

In this episode, Alex &Pooh discuss something they both have experience of – the shiny penny syndrome. They both chewed their way through a lot of money taking multiple courses, without fully following through or signing up for courses that were out of date or poorly supported. They share how they broke out of this negative cycle, found a trustworthy and supportive provider who taught them a business model that enabled them to finally begin making money – a lot of money.

They explain how to work out whether a course/business model is likely to work for you before you invest a lot of time and money into learning it. As well as how to stay focused on one thing at a time so you can truly master it and maximise what you get out of each course.

THE AIRBNB BLUEPRINT CONSULTANT - CONTACT US

https://welcome.airbnbblueprint.co.uk

KEY TAKEAWAYS

• Lots of people chew through all of their savings by taking course after course, many of which are utter rubbish.
• Shiny Penny Syndrome, flipping from one business model to another without following through, will waste a lot of your time and money.
• Sticking with one model and seeing things through teaches you more than flitting from one thing to another.
• Understand that not all business models are going to be right for you e.g. to use lease options effectively, you need to be a confident deal maker.
• Before signing up, use free research to find out as much as you can about the money-making method you are considering learning.
• As you do your research, make a list of questions.
• Ask the training company questions and keep asking until you feel sure you understand what you are signing up for.

BEST MOMENTS

“I thought, ‘How could I have been so stupid? How could I have been duped so easily and bought into such utter bulls**t.”

“Just keep going in that one direction and there is a very high probability that you will get there.”

“It's good to start small and then just kind of slowly work your way up.”

“You can't just do it because you think you're going to make loads of money. It's not going to work. You need to have some passion for it.”

“To make lease options work, you need to be a certain kind of person. You need to have the character traits to be able to confidently, like, walk into an agent and deliver a crystal-clear pitch .”

LINKS

FREE Airbnb Blueprint Coaching Community -

https://www.facebook.com/groups/2342454789487705

HOST BIOS

Alex & Pooh have built a portfolio of over 16 Serviced Accommodation Units and 10 Buy-To- Lets collectively over the last 5 years. - This AirBnB Business has allowed each of them to create their own tailor-made ‘lifestyle by design.’

Pooh chose to escape the corporate life as an electrical engineer instead to spend his time at home with his young and growing family, and Alex likes to spend most of his time in sunny Spain enjoying his love for road cycling or even hiking in the Tramuntana mountain ranges.

This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/