Motivational Monday – How do you Overcome Rock Bottom?

What do you do when you have done everything you can to find a self-storage property only to have failed? How do you overcome the frustration and discouragement when nothing has worked, or nothing is working anymore? When you hit rock bottom, you have two choices. You can either quit and throw away all the work you have put in so far, or you can re-evaluate what you are doing and make some tweaks so that you get different results.

There will be times in your self-storage career when things will stop working. The systems that you had in place that were bringing you deals will suddenly fail. When that happens you need to look at what you are doing and decide to quit or make changes. Self-storage is too lucrative a business to quit.

Look at what you are doing. If you are sending out mailers, do you need to change the look, the wording, the size, or the color of your mailers. Sometimes sending a bigger envelope that is handwritten can help get your letter opened. Then you need to have a really catchy first few lines if you want them to keep reading or even hang onto the letter until they are ready to sell. Make sure that you don’t just send one mailer, you need to reach out at least 12 different ways and times if you are going to get results.

If you are relying on a power team to send you deals, then you need to reach out to your power team and follow up with them regularly. Are they still looking for opportunities for you or have they forgotten about you? Make sure that the people who you are networking with know that you are still looking for self-storage so that they continue to look for you. Never stop networking.

Evaluate everything that you are doing and make changes. Cut the things that aren’t working and talk to other self-storage investors to find out what is working for them. Always be open to new ideas. Try some of the things that they are doing. This is a great business to be in, don’t let the ebb and flow of finding motivated sellers stop you from staying the course. As always, happy investing.