Motivational Monday: Is lack of planning keeping you from your goals?

Do you have a self-storage business plan? Have you really broken it down? Do you know what you are supposed to be doing each week, each day, to achieve those goals? Because once you know where you want to go, then you can really plan and track what you are doing to make sure that you are on the right path. However, if you don’t know what the path is, you are just going to keep going in circles. You are never going to get anywhere.

Let’s say that you want to buy 4 self-storage properties this year or one per quarter. The first thing that you need to do is decide how you are going to find those motivated self-storage sellers? How are you going to advertise and market to them? What are you going to say to them? How are you going to present your offer to make it look appealing even when it might be a little lower than they had hoped?

How are you going to advertise and market? Are you going to do what you have always done, or are you going to shake things up a bit or try something new? What are your advertising goals? How are you going to achieve those goals? Who is your specific market, what are they looking at and how do you get in front of them with your advertising dollars? What are you going to say in that advertising? Are you targeting potential renters or potential sellers?

What are you going to do in addition to advertising? Who do you know that you can talk to? Make a list of those people. Do any of them know someone who owns self-storage? Can they introduce you to someone in the self-storage world: commercial lender, title company, or commercial agent? This networking list is your golden ticket. Start consistently reaching out to these people to remind them that you are in self-storage. This list is not a one time contact. They need to hear from you frequently. You want to be in the front of their mind when they hear of someone who is thinking of selling their self-storage facility.

Next are all of those self-storage owners. How are you going to reach out to each of those individual owners and contact them directly? They all need to be contacted several different times and several different ways because time and circumstances change. You want to be there when they do. Come up with a plan that will allow you to step in when they decide to sell.

Start putting the changes in place that will allow you to become the investor you want to be in 2022 and then start implementing those changes. As you begin your plans for 2022, make sure that you are planning for a great new year in self -storage too. You can do this! As always, happy investing.