What is your relationship with fear like? Does it control and dominate your life? Do you use it to motivate yourself? Are you able to keep a good handle on it? How has it affected your business? On this episode of The Amazing Seller, you’ll hear from Scott as he shares a Facebook Live session he hosted on the topic of fear. In his Facebook Live session, Scott talks about his dream for his lake house property, how fear has reared its head in his life, why you shouldn’t let fear hold you back, and much more. If you are ready to kick fear to the curb, this is the episode for you!
Fear is normal, but don’t let it run your life!
Do you ever wake up panicked and worried about your ecommerce business? Do you find yourself stressing over that large product order you placed or that product listing that just went live? If so, you are not alone! Many sellers just like you struggle with a significant amount of fear as they struggle to get their business off of the ground and running. Fear is a normal reaction to uncertainty but it’s OK to let fear run your life. The challenge is to walk the line between caution and reckless risk-taking, are you up for it? Hear more about this important topic by listening to this episode of The Amazing Seller!
Lowering risk will help you fight your fears.
One of the best ways to push back the fear in your life is to take a look at what you can do to control the situation. If you are worried about the next step in your ecommerce business, then get out there and do the research you need to lower your level of risk. Your fears and worries won’t just evaporate; you’ve got to be willing to make forward progress and do the work necessary to remove obstacles in your way. Scott encourages sellers like you to educate yourself and take advantage of resources like TAS to lower your risk level and decrease the control fear has on your life. To get more helpful information about lowering your risk, make sure to listen to this episode of The Amazing Seller!
What are you waiting for? Take action!
Often you’ll find people in your orbit who are stuck in their lives and unwilling to do the hard work necessary to get things turned around. Does that sound familiar? Do you find yourself sinking back into that mindset? The best way to push back and reclaim your moment is to take action. If you’ve been around the TAS community for very long, you’ve heard Scott encourage sellers too, “Take action” at the end of every episode but it’s not just a saying, Scott lives this motto. He genuinely wants to help sellers like you identify the roadblocks and challenges that get in your way and find ways to solve them. One great resource that you should check out is Scott’s new book called, “Ecom Business Formula.” The link to this book is located in the resources section at the end of this post.
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
- [0:03] Scott’s introduction to this episode of the podcast!
- [2:00] How Scott got involved in the Airbnb space.
- [7:45] Scott jumps into a Facebook Live session about fear.
- [11:15] Scott’s vision for his lake house property.
- [18:00] The fear you have is normal, but don’t give in to it!
- [23:00] Why you need to lower your risk.
- [27:30] Make your plans but make sure to take action!
- [32:30] What is the worst that can happen?
- [35:15] Closing thoughts from Scott.
TRANSCRIPT TAS 639
TAS 639: FEAR is REAL – It's Time To Face it and Achieve Your Goals
[00:00:02] Scott: Well, hey, hey, what’s up, everyone? Welcome back to another episode of The Amazing Seller Podcast. This is Episode #639 and today we’re going to be talking about…
[read more=”Read full transcript…” less=”Read less”]
…something that isn’t really talked about too much and I think it should be because it’s a real thing and that is fear. Yeah. That's right. Fear. And the reason why I wanted to do this is because I know personally that fear has held me back in certain areas of my life and I know when I'm starting to feel this and I know that it can actually hurt me versus help me but it's taken a while to figure that out. And the reason why I decided to do this episode was, well, because I recently did a Facebook live and any of you that are following me on Facebook, well, in the group but also in around the Facebook fan page, that's where I've been publishing live and I’ve been going live now for almost three weeks.
And every single day I’ve been showing up and I’ve been just trying to help out our community and really helping TAS listeners wherever they are in their journey. And one of the points that I wanted to make and I really wanted to try to help people with is this thing called fear. And I actually felt it recently doing this new project, this new venture of mine and that's in the Airbnb space and you guys might've heard me talk a little bit about it but it started to feel a little overwhelming. I started to have those self-doubts starting to creep in and saying, “Scott, what the heck did you just do?” and well, you know, I'm facing those fears and I kind of go through it in my own head as far as how to get through those things. And so, what I did is I did a Facebook live. I actually did it from the lake house. If you guys are just tuning in and you have no idea what I'm talking about as far as this Airbnb thing and in this Lakehouse, I told you guys this for the longest time that things happen as you start to move through this journey.
[00:02:06] Scott: And I had no idea that a year ago I'd be entering the Airbnb space. You know, as entrepreneurs, we’re always having our eyes and ears open without trying to get distracted, but the way that it happened in a nutshell, was I was looking for a rental for my inner circle meeting and I started looking around this area in North Carolina and South Carolina and I found some properties and I started getting some pricing and I’m like, “Okay. This is cool,” and then I started thinking to myself, “Wait a minute. This is an amazing business model like they're charging thousands of dollars for a few days in these houses,” and now these are luxury houses. These aren’t just a standard Airbnb. And again, it's another one of the points that I make is that niching down and this guy has done that but not to get too much into the weeds here, just to kind of give you a little bit of the back story, but I was considering it.
I said to my wife, I say, man, if we’re going to be spending some time in this house with the inner circle members three times a year, her and I would love to be able to go up there with our family and enjoy a weekend or a week and be on the lake and it’d be cool and then I'm like, you know, then there's this other part of it that's the rental game and I've always played a little bit in the rental game. I flipped a few houses. I did some long-term rentals and I didn't really like that. I didn't like either one of those but I did dabble in there and then I started hearing more about Airbnb and I'm like, okay, this is good but then here are some of the bad stuff and, well, long story short is I met up with this guy who I was going to rent the house from and he's been doing this now for about five years and I just sat down and picked his brain for about two hours and then we ended up doing a deal and I ended up buying a house that needs to be remodeled.
[00:04:00] Scott: And it's going to take about two-and-a-half, three months to remodel, a full remodel, and we’re getting it up to the standards of his rentals and it's in the luxury Airbnb market on the lake. So, with that all being said, I'm in the game and it's expensive to get in the game. It's not just like putting up a $5,000 product and if it doesn't work, you liquidate it. It's like you got a property that's upwards of over $1 million in real estate. It’s crazy but I never would've been thinking about this three years ago or even five years ago just wouldn't have like my life was little a bit different. I had a different vision. I didn't see an opportunity like this. Honestly, I wouldn’t know if then I would've even wanted to do this but now, I do and now I’m interested and I see all of the different things that I can use it for that I’m excited about. Yes, it can make some passive income when we are renting it. It can serve as a place for myself and my inner circle members, maybe do some workshops.
I’m thinking about doing some like two-day intensive workshops with maybe just five people and they would show up and we would spend two days together working on their businesses and different aspects of the business so that's another thing and then being able to hang out with my family there and enjoy a week or a weekend. So, there's a lot of different reasons why but I'm not going to lie. It's scary. It's a big investment and it's also hoping that the market is going to like it, just like an Amazon product, just like an e-commerce business. But I know that if I do this, there's going to be things that are going to come out of it and I know that it's probably going to be really a good thing and I'm going to be able to look back and go, “Man, I'm so glad I did that. Look at what has happened. Now, I own five of these homes maybe.” That is the goal, by the way, but I’m going to see how this first one goes. But what I’m going to do is I’m going to play the recording from the Facebook live. Now, you’re going to hear me probably mentioning like certain things that you're looking at because I’m showing you inside of the house under construction and, I mean, the house is in shambles right now. It's being totally redone and it's pretty much been ripped apart.
[00:06:07] Scott: But the actual message is what I want you to hear. I want you to hear myself walking through this fear and how it is real and hopefully, you're going to be able to resonate with that, but also be able to face your fears and say, “You know what, there are different ways to think about this and then deal with it,” because fear can be paralyzing and we don't want it to be. So, I'm going to just go ahead and play this. If you want to watch the video, I will actually include it in the show notes. You can go to TheAmazingSeller.com/639 and, yeah, you can go there and check out that video if you want to. I’m actually using my little handheld and I'm walking around the property and I'm talking and it's interesting. I decided that day I’m like, “You know what, I think I’m just going to do a Facebook live or I’m going to test the reception here.”
And I'm going to talk about what I'm feeling right this second as I'm standing here in this totally gutted property that I'm hoping is going to be a positive experience and investment. So, with that being said, I hope that you enjoy this and if you want to watch more behind the scenes a little bit with the Facebook lives, head over to the Facebook fan page. You can head over there at TheAmazingSeller.com/FB and you can get connected on over there. So, with that all being said, I know that was a mouthful. Let's sit back, let's relax, and let's face that fear. What do you say? Let’s do this.
[00:07:45] Scott: Cool. All right. So, here's what I want to do here today. I'm actually in a project that I'm involved in right now and it has to do with also the topic for today and that is fear and what I want to talk about here today and I can kind of show you around a little bit. What's up, Bill? Bill, my man. What’s happening, my brother? So, yeah, I just wanted to jump on here real quick and I wanted to talk about fear and I wanted to talk about how it can really prevent us from doing stuff and from taking action as I always say. And I actually I was on a two-way kind of like a two-way radio. There's a tool called Voxer and I use that with my inner circle members.
And I had a call this morning with someone that also has a little bit of fear going on and that we’re talking about a seven-figure seller and they're looking to buy another business, but we’re kind of going back and forth, back and forth, and it was kind of like a little bit of the nitty-gritty type stuff and I basically just came out and I go, “Listen, like we can go back and forth 100 times here and try to find a reason why this isn’t a good deal,” but the reason why we’re doing this is because you're afraid that this thing might fail and you got to start looking at like what are we really saying to ourselves that we’re afraid of? If we can validate that this thing can fly the best that we can then why not go through with it? This is exactly what I talk about in the ECOM Business Formula which, if you haven't grabbed a copy, you're probably going to want to do that and you can go to ECOMBizBook.com and you’ll get all the details there and really inside of that formula is exactly how to validate something before you actually pull the trigger.
[00:09:52] Scott: And we’re talking not even just validating if the product will work but will the market work? All right. And that's were talking about. And this here, like before I get into that, this here right now that you're looking at, okay, and Bill, just to let you know, brother, Bill’s actually in our inner circle. This is where – it doesn't look that great right now but I promise you this right here is going to be where we’re going to host our next inner circle meeting. It will be in here where actually, let me pull it around here a little bit. Like I said, it’s a full rental. Those are like some temporary posts back there. These aren’t. These are going to be cedar. Where is it? There, but yes, so we’re basically getting this place ready.
But here's the deal. I am a little nervous about this, about this property and I’m going to tell you why here in a minute and I’ll just go back here. I mean, it's a pretty sweet view. We’ve got a pretty nice place here. It's going to be this thing is, I mean, we’re talking, well, I'll throw it out there. This is about a $200,000 renovation plus I’ve got money that I've already invested in this property. Now, this property is going to serve a couple of different purposes. It's going to serve a purpose for myself and my family being able to come here and hang out in the summer every now and then. When it's not rented, we’re going to also turn this into an Airbnb and I'm going to host my inner circle meetings here and maybe some two-day workshops. That's a classic refrigerator back there too, by the way. I’ll show you that in a minute but, anyway, the fear in doing this is that I think I've checked everything the best that I can.
[00:11:45] Scott: The guy that's helping me with this he’s already done four of these and he’s going to be managing the property but I don’t know that I'm going to be able to get even 60% occupancy in here. That means I’m going to have to foot the bill for the first year. Do I want to do that? No. Do I think that maybe I might have a harder time renting this than he has renting his? Of course. But have I looked and seen that from his track record of other properties that he's already done, has he been able to be successful at it? And the answer is yes. Has he had some things that have gone wrong? Yes, but that's just the way it goes. So, the reason I wanted to have this conversation with you here today is because no matter what we do, we’re always going to have an element of fear. There’s going to be some element of fear or afraid that we’re going to fail. That's the big one, right? Like if we fail, what's going to happen? Then you start weighing like well if I fail, if I fail, and the way I look at failing is like what lessons have I learned or how much can I absorb of a failure?
Like, if this thing doesn't work, what's the worst that’s going to happen? Well, the safety net for me is I’m going to sell the place and I’m going to get my money back because I know I can do that. Especially when we get done remodeling this thing, I know what these are selling for. So, I pretty much have a safety net. If you're starting a business, now again the guy that I'm talking about that I had this conversation with this morning, again, a seven-figure seller but looking to buy another business and he's going to spend about $250,000 to $300,000 on this new business. Okay. The business is already up and running. The business already has a track record. He's got really great vision for the company and actually I've had some really good ideas for him as well, the way that we can position this into the marketplace, how we can reach influencers, but we’ve went into the formula really, we’ve went into it and we deep dive inside of that formula and I kind of always go back to that formula. Does the business have a market that it’s capturing or that it's being able to go and reach?
[00:13:48] Scott: Is there future potential for whether it's creating content, whether it's reaching influencers, whether it's building an email list. All those boxes are checked and yes like we know because we went to this process as we've actually already validated all of that stuff. But the cool thing is, is that there's so much other opportunity because we know what we’re looking for by going through this formula and this is what I call the ECOM Business Formula. It's exactly what we do so we vet these things out. Okay. And what I mean by vetting these things out is we look and see, what can we see that we know has happened in the past? So, how can we go ahead and increase our chances of succeeding by doing this validation stuff first? So, whether you're doing a project like this here, if you're doing a project like this like I don't know if you guys can see it but look at that ductwork up there. It's really, really cool.
It’s really cool. But, anyway, yeah, back down here, but yes, so this right here I validated just like and it was funny. When I was talking to this guy that’s actually helping me with this, which is a whole other story on how I found him which I’ll talk about probably in the future, maybe I might even get him on the podcast. So, basically, what I did before I even met him, I’m like, “Okay. I'm going to go ahead and I’m going to get into the Airbnb market, but what I have to do is I have to see who's already done it and then see where they’re purchasing properties, why they're purchasing them there and how they're getting those places filled other than just throwing them up on Airbnb. This guy is not doing that. This guy spent money on doing the research. He's made mistakes so I'm piggybacking off of that. Does this sound familiar? If you are looking to start your business or grow your business, you want to look where? Look on Amazon. See where the sales have been in the past, what kind of volume is running through those channels.
[00:15:00] Scott: Externally, what can you expect to go out there and get more traffic? What are all of these different things that you can expect because you're able to validate the stuff beforehand? So, if you're struggling with validating your market right now or if you're not even sure if the market that you're heading in, in that direction is the right direction, and maybe you need to pivot then you definitely need to grab my most recent book. It's a guide, it’s a blueprint, and that is ECOMBizBook.com. So, if you could do that, grab it. Go through it. Even if you just use it to validate your market that you’re going into or that you want to continually grow, this way here you’re not guessing. And it’s going to be your best way of saying, “Yes, I validated these key points. I validated that there's a market. I validated that there's a sub-niche in this market.” So, I’m going to give you another example.
You can tell I’m getting excited about this, right? And I’m just walking around because whenever I’m on the phone, you guys ever notice when you’re on the phone I can't sit still so I got to kind of walk around so I'm sorry that I'm just moving around here but this OSMO kind of keeps it steady so hopefully we’re good. But, yeah, so what I was going to say if I can remember what I was going to say now is so, basically, on this property right here I think this is where I was going is I validated that, you know what, he's already validated it for me because I've seen that he's showing up in search. He's retargeting me with Facebook ads. So, he's doing all of this stuff and I know that he's probably done his homework so now I’m just going to reverse engineer what he's already done. Now, what we've done with my inner circle member and, obviously, I’m not going to say what he's doing here, but we just reverse engineered what he is doing as far as moving forward with that market and where can we find some niches inside that market that we can really go out there and blow this thing up.
[00:17:52] Scott: All right. So, my point in sharing all of this is, is there going to be fear and are you going to be afraid to do certain things? The answer is yes, absolutely. It's normal but if you just sit on the sidelines and you let fear take over and you do nothing, I can guarantee this, nothing is going to happen. You're not going to get the effect of being able to see if what you did actually can work. Oh, I know what I was going to say. It came back to me now. Sub-niching down. How would someone create a sub-niche in something like the Airbnb market? It’s a great one, right? And I’ve seen this kind of looking outside looking in, and then I talked to him about this.
Okay. We’re on a lake called Lake Norman. It's in North Carolina. Great place. And so, what he ended up doing is he’s seen that there was a ton of people that were doing Airbnb and they’re paying premium to be on the lake, generally between like June and September. Those are like the hot months. So, what he decided to do was create a luxury Airbnb on Lake Norman. And so, now because he did that, he's now taken this pool of people that are just renting out their house which might be a mobile home on a piece of property or it might be maybe it is a camp that has like just basic camp stuff. Maybe that's what it is. And you're getting a decent amount but not a crazy amount. So, he was like instead of going after just everyone, let me go after the luxury Airbnb.
[00:19:45] Scott: And then the other thing is, is the barrier to entry is even harder because for me to go and purchase a $250,000 house on the lake, you’re not going to get much. And then I’m going to be able to rent it out and, yeah, it’ll do okay but if you go and you increase that, it’s going to be harder for someone to do it, number one. And number two, the clientele that comes in is going to be able to afford it and they're not going to really squabble about paying a good amount of money to stay here for a week. So, the way that he subbed down or sub-niched down was he took this massive, okay, Airbnbs in this area, then Airbnbs on the lake, and then Airbnb luxury property on the lake. See what we just did there? So, we just demonstrated once again, and I get a lot of people that asked this and I know Robin you're on, a lot of people say, “How do I niche down?” Just like that. Okay. Airbnb all around here in North Carolina or inside, well, let's say outside of Lake Norman but not on the lake.
Then we have Airbnb on the lake and then we have Airbnb on the lake luxury houses. Boom. Done. And the way that I found this, the way that I even stumbled on this here, on this property, on this remodel and everything that's happening here, the way that I stumbled on this is because I decided to do an inner circle, okay, for TAS very, very small group of people, people that are successful but they want to grow their business not just on one channel. We really work on the formula really, we work on the ECOM Business Formula. That's exactly what we do, but I wanted to be able to bring these people to my home in a sense or my lake home and I wanted to be able to also leverage the place for them so I’m like, “You know what, I was thinking about renting a place,” so I started looking into renting one of these and I actually did that for our last one because this thing wasn’t ready yet.
[00:21:45] Scott: And then I said, “You know what, maybe I should get into the Airbnb market.” I mean if I’m going to spend upwards of like $5,000 to stay at one of these luxury properties for my inner circle, why don’t I just do an Airbnb and that way I could use it as a rental and I could turn it into an investment and that will be a nice little investment added to my portfolio. So, now guess what? I’m being educated on the Airbnb market. You see what just happened there? I didn’t plan on doing this a year ago. Now, am I nervous? Of course. Of course, I am. Who wouldn’t be? Who wouldn’t be? But the thing is, I've been nervous before and I was nervous about starting a podcast. Imagine if I didn’t start a podcast? Over 12 million downloads I would not have those. I wouldn’t have had the TAS community, I wouldn't have you watching right now. Okay. If I hadn’t started my photography business after I left the construction business, I would've never been able to work for myself and know what that was like and then that led me into teaching Photoshop which I had to teach myself.
But everything kind of leads you through but I had these fears along the way. When I gave my father my two weeks’ notice when I was 25, I think it was and I had a family, you know how scared I was, number one, to disappoint him, but then also to go out on my own and say, “I'm going to actually go out and provide?” That’s scary stuff. Fear. Fear is real and I get it. I get it. I still have fear but we can't live in fear. You got to have educated guesses in the sense and just go with it. Now, there are ways that you can reduce the risk. Example, this place right here, I'm reducing the risk because I found someone that’s already done it and now because of that, I’m going to reduce the amount of risk because I know that he's already done it successfully and make it even better, he’s going to actually take me under his wing and actually put this property in his suite of properties.
[00:23:48] Scott: Boom. Right? But it never would've happened if I didn't go down this road of wanting to get a piece of property for my inner circle and then wanted to have a lake home and all that stuff. It made sense but it led me here. But I'm still nervous about it even right here, standing here right now, this thing is not done. We’re talking to 220-some-thousand-dollar renovation which is going to be freaking awesome and I can't wait and I know Bill was just on with the inner circle. He's going to be here hanging out with us probably right there and we are going to be probably having a whiteboard over there and we’re going to be masterminding here and then we’re going to go out here and have a little fun in the back on the lake and probably do some campfires and stuff. So, anyway, yeah. It's real. I get it. Okay.
And again, the same guy that I’m talking about right now, he’s a seven-figure seller. He just literally quit his job to take on another project. Now, he got approached by a company that wants to take $2 million and build businesses online. He's got an investor that wants to do that. Do you understand the fear that this guy has? So, now he’s looking at buying a business for $250,000 with their money, by the way, and they’re trusting in him because now he’s a partner that he's going to make it work. So, he's nervous but if we look and say, “Hey, how can we reduce the risk? How can we reduce the risk?” Well, we can go look at that market and see what potential we have in that market. Again, I’m going to go back and give you a little shameless plug here. ECOMBizBook.com, it shows you how to validate the market for now and for the future because what we want to do is we want to know that we have ways to go out there and get more traffic, to build an email list, to be able to have other revenue streams coming in.
[00:25:45] Scott: Are there influencers in our space? Like, all of that stuff is outlined in ECOMBizBook.com. So, again, I created that little URL for you so this way here you can go grab a bunch of people have already grabbed it. It’s a digital version so you can go through it immediately. I do recommend printing it out though. But, guys, listen, if you have any questions or if you have just some fear that you're facing right now, drop it in the comments. Whether it’s on this live right here or if you're on YouTube, wherever you're watching this, put it in the comments. It's real. I get it. But then what you have to ask yourself is how can I reduce that risk? You can validate and there are ways to validate now. By seeing what’s selling on Amazon, seeing what’s selling on just regular e-commerce platforms, seeing the traffic that's coming in from Google, seeing the traffic that’s coming in from YouTube, these are all ways that we can validate our market before we ever jump into this market. So, just don't forget that.
So, that is going to wrap up this video and I almost didn't get this to work but I'm so glad that I did. And, guys, do me another favor, drop in the – well, not in comments. Actually, like this or share this if you found this useful. That's what I wanted to say because it would really mean a lot to me for you to be able to do that so this way here, we can help more people because I get it. Fear is a real thing and it can paralyze people. It can make you so you don't go out there and do something. And then you’re going to be sitting there in six months and going, “Geez, I wish I would've just done it, dammit. Right? You have ways now to go out there and face this fear. You have people like myself that is telling you it is normal. It is but you have to face it head on, you have to go out there, do your homework but then you have to just pull the trigger and then reduce the risk as much as you can, validate the best that you can, and then take action like it's that simple. You guys hear me say it all the time, take action and then look at the results, and then you make a decision.
[00:27:47] Scott: You make the decision. As soon as you make the decision, you're going to get a result. So, for me right now, I'm waiting for this to all get done in this place. Why? Because I want to get this thing rented out so this way here, I can say, “Oh, wait a minute, yeah, I can see that this thing is going to work or, you know what, we got to get more people in here to see this place or we got to get it on the search engine, Google. We got to get it on Google. We got to get it searched, whatever it is. We definitely, definitely want to get this thing working so we can see and we can then say we got to make adjustments. We make the decision to do something then we make the adjustments. You can’t make an adjustment until you actually see a result, period. What would Bill say? Yeah. Bill was afraid of selfie sticks so he moved on but let’s see.
Cool. So, James, you’re still at the foundation stage but you’re following everything you say. Cool. Yeah. So, got to follow it. Yes. Do the work? Yes, and then actually put into action. Until you get a product launched or you get – forget the product. Until you decide on a market that you want to serve and then you start digging into that market, until you do that, you're not really actually putting something into place to actually get that result. So, even if you don't have a product yet that you’re going to launch, you can still start this process by building the email list, creating content. You can do all of those things so this way here you can start to get the traffic so you start to get the momentum. Because here's the deal, you don't necessarily need a product upfront to get started. Okay? And I'll do a whole another video on that because a lot of people have already done it. Blogging is one of them. That’s another community that I want to help because there are so many bloggers out there that are doing all of that stuff really good, getting a ton of traffic but they're not leveraging the traffic. So, there’s a ton that we can do there.
[00:29:47] Scott: So, anyway, guys, I’m going to wrap this up. Definitely, do me a favor though like I said, like this, share it, give me a thumbs up, whatever platform you're on, and also grab ECOMBizBook.com. Yes, you will buy me a cup of coffee. When you grab yourself a copy of that and it’s a digital version but I'm telling you, it is well worth it just for the validation piece alone, but it will give you more. It’ll give you the 10-step process that we use and we run everything through that’s kind of like you're looking at this as like running it through these filters and this right here, this 10-step formula will definitely help you with that. So, go grab it. ECOMBizBook.com. It’s there for you, take advantage of it.
[00:30:30] Scott: All right. So, there you have it. A little Facebook live for you, a little recording on facing fear which is not always easy and there's always going to be times when you're going to be fearful of what could potentially happen and you can call it being scared, you can say, “I'm afraid.” Whatever it is, it's real. And you know it's okay. It's okay. It's there for a reason. It's usually there to protect us, but sometimes it can hinder us and we have to ask ourselves those questions, what is the worst that's going to happen? So, I kind of go back to the lake house for a second. What's the worst that happens if for some reason I get this thing on the market and it doesn't rent which I do not believe that's going to happen because I've already aligned myself with someone who's already doing it and he's going to help me do it. So, I'm pretty sure that I'm going to be able to get this thing rented as long as it meets the standards of the property or the properties that they’re renting in their inventory.
But what's the worst that can happen? Right now, I know after we get done with the amount of money that we put in it, I could probably just sell the house and breakeven if not make a little bit of money because I would sell it fully furnished. Now, I'm pretty sure I can do that and the reason why I know this is because when Lisa and I, my wife and I, were looking at properties, every time we would look at a property, we’re getting ready to put an offer in, boom, it was gone. We’re talking upwards of like $800,000 to $1 million so it’s like, “Wow. These things are just flying off the shelves like who the heck is buying these things?” And so, for us, we know that the market is there. Now, if worst case scenario, let's say that we didn't and let's say that we have to just rent it long-term and not do an Airbnb, we could do that too and probably just cover the cost of the mortgage and insurance and taxes and stuff like that would be the worst case.
[00:32:32] Scott: So, the chances are it's probably going to work. Is it going to work as good as I'd hoped? I don’t know. I’ll let you know but I'm pretty sure that it's going to do pretty well. So, that's how I face the fear. It’s like, well, wait a minute. What are we really afraid of? What's the worst that's going to happen? And the same thing we can ask ourselves with a product we’re about to launch. What's the worst that can happen? Now, here's the thing. If you didn't do your validation, if you did not check that stuff out and say, “Well, wait a minute here. Let me validate the best I can.” Now, I validated the market because I went in and I said, “Well, wait a minute here. Let me see who's already doing it. Okay. Let me try to get a hold of this person. Let me see if I can pick their brain,” which that to me was just crazy that I was able to find the person that I was actually going to rent the house from and then find out that he's a really cool guy that's willing to share and then from there, once I get a house up and running, he's going to help me rent it, and he's doing all the ads, he's doing all the marketing for it, and all that stuff.
All I got to do is just put a piece of inventory and he's going to make money on the management side of things. I don't care. But I was able to go out there and find this person that's going to help me and so I validated the market just like I would've on an Amazon product or an Amazon business. So, I guess, my question to you is have you validated your market? Have you found the growth path? Have you gone through the process of figuring out if you can build out external channels and traffic and assets and all that stuff? And if you haven't, well, then you need to go grab ECOMBizBook.com. Okay. There's my little shameless plug. Because in all honesty, that is the process for validating your market and seeing the opportunity that is ahead. And if it doesn't match up, then you don't move forward. It's that simple. It's like it takes you through the process of validating and then once you do validate then you have all these pieces in place that you can build upon. It's like building blocks. So, little shameless plug there, ECOMBizBook.com. Check it out.
[00:34:32] Scott: Yes, you’ll buy me a cup of coffee. You guys all know that are longtime listeners. I do enjoy my coffee but it's a great resource and I do believe that it will help you. Actually, I had one guy who grabbed a copy and he said, “Scott, I’ve been listening to you for now for over two years and since I’ve been listening, I started a business and now I’m at seven figures,” which was awesome in itself, right? And he said, “So, I just grabbed the book to buy you a cup of coffee, but then I went through it and within 10 minutes I could see I was already going to be able to use some of these components in here in my current business to grow it even further,” someone that’s already at a seven-figure level. So, you can always pick up something. You can always learn something through this process. So, if you haven't grabbed a copy, go ahead and grab it. ECOMBizBook.com. All right. So, guys, that is going to wrap up this episode.
Again, if you want to catch me over on Facebook and some of these lives that I'm going to be doing, take you behind the scenes, all of that stuff, head over to TheAmazingSeller.com/FB and that'll take you over to the fan page and then from there you can like the page and then you’ll be notified, maybe you’ll be notified. I'm not sure how Facebook works. They’re always changing their algorithm as well. Just stay connected over there and you'll see me over there on the page. And then from there, I always share it over into the big TAS group as well. All right. So, the episode here is 639 so if you want to grab the show notes as well, you can go over to TheAmazingSeller.com/639. I'll include that Facebook live there as well. I’ll embed it in the post, that way there you can watch it if you want to. All right. So, that's it, guys. That’s going to wrap it up. Remember, as always, I’m here for you, I believe in you, and I am rooting for you, but you have to, you have to, come on, say it with me, say it loud, say it proud, let’s face fear together, take action! Have an awesome amazing day! And I’ll see you right back here on the next episode.
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