Generating leads is hard.
You are either going to invest…
Sweat equity
or
Check equity
Most people understand the difference here. The never-ending battle of cold calling vs. buying leads.
But there is another way… it just takes time.
Compounding Equity. Never heard of it? Me neither; I just made it up, but it makes sense. Here is what I mean…
Sweat equity means you’re going to do work today to generate leads today. Think cold calling, door knocking, open houses, networking, etc.
Check equity means you’ll pay money to buy leads or advertise.
Compounding Equity is something that builds upon itself over time. Think a Youtube channel, a blog, a referral partner, etc.
This is where you make something today, and it pays you dividends in the future, likely over a long period of time.
Most people don’t talk about this because it doesn’t give any immediate gratification. It takes time to build up. It takes consistency.
I’ll share an example…
About 2 years ago, I committed to creating a YouTube channel to generate leads for my team. “All About Orange County”. I’ve scripted, filmed, edited, and posted 2 videos almost every week for 2 years.
Another example is that I also started writing a weekly email newsletter at about the same time. This doubles as a blog on our website. Every single week for the last 2 years, I’ve written, filmed, edited, published, and sent this newsletter.
Two years later, I’ve sent 100+ emails, written 100+ blogs, and posted 200+ YouTube videos.
Have we had a TON of business from it over the last 2 years? Not a ton, but not zero. Have I made my money back on the time invested? Absolutely. But here is the special part. I will continue to get views on both the blogs and the YouTube videos forever.
For me, this was sweat equity, check equity, and consistency over time. I’m lucky to have an incredible marketing team to help me produce all this.
I share this because so many agents are stuck on the hamster wheel, going from one transaction to the next.
Build a business. Build a book of happy past clients. Build something that will pay you over a long period of time.
You have to make money now, I 1000% get that. But don’t let your future self down.
A question that I say to myself often…
“Will I regret not doing this 5 years from now?”
If the answer is yes, you should start today.