You’ve set up your business. You’ve made great looking business cards. You’ve told friends and family members about your new company. You’ve been putting in a lot of effort over the past few weeks to make sure your new company look as good as it can. And yet, nobody is walking in the door. Your leads, if any, are trickling in. What is going on?

There are a number common reasons why your business is probably currently not working out well. It’s amazing how many companies repeat the same mistakes over and over again – at the expense of their own success. If they could just take a step back and see what they were consistently doing wrong, they could stop the problem and get on the right track.

Don’t let your business be a failure. Analyze what you are doing and read some of these steps below to see which ones you are guilty of committing – and then STOP!

Guilty Sin #1: Money

The Myth: “You gotta spend money to make money.”

The Truth: Find a deal and money will find you. You don’t have to have a lot of money to spend in order to get your next big deal. Creative solutions are always available for new businesses starting out in the real estate investing market. Look towards the successful investors. How much money are they spending? Chances are, through creative real estate investor marketing and superior selling tactics, they are letting the leads find them instead of spending money to attract it. Can you get a good price on a house? You will find plenty of investing partners to help you put up the money for a great deal. The numbers will speak for themselves.

Guilty Sin #2: Time

The Myth: “I have too little time to do this! I have a spouse, kids, another job and other responsibilities!”

The Truth: Throw out your television and put down your hobbies for a little while. People spend an average of three hours in front of the television. That’s three hours that you could have spent researching and scouting new real estate investment properties. You could be meeting potential investors. You could be marketing to more customers.

What are you doing this weekend? Why not take a trip around the neighborhood and look for ugly houses. You can find a number of properties just driving around and best of all, you’ll see the houses right away (versus researching online where you don’t always get a truthful picture). You can check out the neighborhoods and other factors to determine if the house is a great choice for you.

Guilty Sin #3: Doubt

The Myth: “Everyone says [insert marketing strategy] doesn’t really work.”

The Truth: You can make anything work if you put your mind to it. You might need a more creative spin on an old trick, but your business can succeed no matter where you apply yourself. Henry Ford said: “Whether you think you can or think you can’t, you are right.” Take that statement to heart. Half the problem is in your mind and in your belief in yourself.

There are always risks. There are always issues that can come up in your real estate transactions. If you concentrate on the negative, however, and never see the positive, you’ll spend all your time wallowing with complaints instead of turning the issues into opportunities.

Guilty Sin #4: Industry Differences

The Myth: It won’t work in my industry.

The Truth: Solid marketing techniques are just that – solid marketing techniques. It doesn’t matter which industry you’re in, if you think of creative ideas for marketing, you can make it work for you. You have to learn how to make money your way. Don’t listen to the naysayers who say that certain marketing approaches won’t work for you.

Guilty Sin #5: Recession Worries

The Myth: A recession is coming and will kill my business.

The Truth: Recessions can be a great time for your business. You can sell with more attractive terms. Be creative. A recession isn’t a stopping point; it’s an opportunity for you to stand out from the rest of the businesses who have just stopped because they’ve given up.

Guilty Sin #6: Bad Credit

The Myth: I have to have good credit to buy houses.

The Truth: You can find other creative ways to buy houses if you have poor credit. Great credit helps, but you can find ways to get around it, if need be. Look into owner-financing, leasing options, flipping options and other creative ways. Look for a partner to help you financially. In the meantime, you can work hard on your credit to improve it over time.

Guilty Sin #7: Risk

The Myth: Real estate is too risky; I’ll just lose money.

The Truth: Real estate can be one of the smartest investments you can make. Real estate properties are frequently appreciating, unlike items like cars or the stock market. You have to research the property and the real estate market to make the smartest investment possible, but with more education and experience, the less risk you will have.

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