"If you want to go fast, go alone. If you want to go far go together."
I'd like to add another dimension to this quote. "If you want to shortcut the route entirely, go with someone who knows the short cut."
In our culture it is "sexy" to be the pioneer of a new industry. Pioneers make the most money too right!?
Look at Elon Musk and electric cars, Steve Jobs with Iphone, or Bill Gates with computers. The pioneers get the most media attention but what they don't tell you is that for any industry that isn't "life changing for the population (Iphones, electric cars, etc..) Being a pioneer in entrepreneur ship is probably the worst financial decision you can make.
Pioneers are the ones with the arrows in their back that didn't make it because they tried to figure out everything themselves. Sure it works out great when you produce a life changing product that changes the world but you have a better chance at winning the lottery than pulling that off.
A better way is to choose an industry you are passionate about and learn from the titans in that industry. Why make the mistakes when you can learn from others who have been on the road ahead and can tell you where all the obstacles are and how to avoid them?
And for single family residential developers that's what we jump into on today's episode.
(Full disclosure: I don't consider myself a "titan" in my market but there are some valuable lessons I have learned a long the way that will save you millions of dollars and years of time. Ask me how I know : )
What we cover in this episode:
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