Why Attitude (and Systems) are Everything as an Entrepreneur
Jul 27, 2023
auto_awesome
Mina Rickey shares her contagious positivity and entrepreneurial spirit, discussing her unconventional land investing strategy and the importance of building processes. She emphasizes the significance of attitude in taking action and breaks down a low volume, big payday land strategy. If you're feeling stuck, this episode will snap you out of it!
Building systems and processes is crucial for streamlining and scaling a business.
Maintaining a positive attitude and embracing challenges are key to personal and professional growth as an entrepreneur.
Deep dives
Meena Ricky's Background and Introduction to Land Investing
Meena Ricky, an immigrant from Mexico and experienced pitchman, shares her journey of transitioning from sales to commercial real estate. She got involved in land investing after being inspired by the success of Cody Bjugan, the author of "Best Ride." Meena's focus is on land acquisition by identifying parcels with future development potential through county websites. She aims to buy properties under contract and navigate the entitlement process to maximize their value, ultimately wholesaling them to builders. Although she is still in the early stages of her land business, Meena's long-term goal is to build a machine-like system that allows her to automate and scale her land and self-storage businesses.
The Importance of Systems and Processes
Meena emphasizes the significance of systems and processes in streamlining and scaling a business. Through her participation in the Dirt Hacker Challenge, she gained valuable insights into implementing repeatable processes, using tools like Loom and Boogaroo to enhance productivity, ensure efficient communication, and create standard operating procedures (SOPs). Meena acknowledges that learning and implementing systems can be challenging but believes that it is essential for sustained growth and success.
Managing Multiple Real Estate Ventures
Meena discusses how she balances her focus on land investing with her interest in multifamily homes and self-storage. She is currently devoting most of her attention to land, looking for lucrative opportunities with high profit potential. Simultaneously, she aims to leverage relationships in the multifamily space to expand her investment portfolio and generate cash flow for long-term sustainability. Meena believes that with time, she will create systems and delegate tasks to maximize efficiency in both ventures.
Overcoming Challenges and Embracing Growth Mindset
Meena shares her experiences as an immigrant entrepreneur and highlights the importance of embracing challenges for personal and professional growth. She acknowledges that language barriers, especially when cold calling, can be intimidating but seeks to improve her communication skills through voice training apps. Meena believes that mindset is crucial, and she encourages others to trust the process, remain proactive, and maintain a positive attitude amid obstacles.
Mina Rickey joins the show with her contagious positivity and entrepreneurial spirit to talk about everything from getting started in land investing and her unconventional strategy to the importance of building processes.
With involvement in multi-family homes and self-storage properties as well, she’s on the path towards building a business that she can work on, not in (something the Dirt Hacker Challenge has helped her with).
When it comes to taking any sort of action, as Mina puts it, “there’s no time limits, only attitude limits”
If you’re feeling stuck, this may very well snap you out of it.