Did You Miss the Boat?
Do you ever feel like you missed an opportunity? I do, every single day. Every time I find something new, every time I do one thing vs. another, I feel like the rest of the world has already known about this concept or niche and they have already covered.
But let me let you in on a little secret…
1. There is No Boat
2. Another Boat Will Come Tomorrow
What Is “The Boat”
“The Boat” can be just about any opportunity. It could be a new business opportunity. It could be a new piece of real estate to invest in. It could be a new marketing opportunity. It could be your to-do list.
Every time I learn something new, I go through 2 phases.
1. Very excited that I just found this new idea/concept/opportunity
2. Very discouraged when I do a Google search and everyone and their brother have beat me to it
Why There is No Boat
The reality is, there are millions of opportunities out there each day. There simply is not enough time to pursue every opportunity, and by simple statistics you will “miss” 99.9999999% of opportunities out there. The key is not to get hung up on the opportunities that you miss.
There is a Bus, And It Comes Around Every Day
Another thing that I have to keep reminding myself of is that it seems like everything has been done within a certain niche, but that is only because we often cannot see into the future and see where a niche can expand to. For each opportunity you miss, a new one will present itself tomorrow. So instead of “missing the boat”, think of it as “missing the bus”. The bus comes by the bus stop each day, so there is always another opportunity around the corner. Let me give you a few examples from our experience:
- When I first learned about real estate, I didn’t think there would be any way that we could ever get started. Every market that we looked at had existing investors that had been doing it for years, sometimes longer than I had been alive. The very first deal that I wanted to purchase was a 4-plex. By the time I got everything in order, the property was sold and I never thought I would never find another deal like it. But within a few months of hard work I was able to find many opportunities that still existed, even though there were already a lot of people investing in real estate and the business had been around for several hundred years.
- There were a couple of situations where good deals came available within our target real estate market. For one reason or another we were not able to purchase them and I feared that we missed the perfect deal and would not be able to continue expanding out real estate business. Each an every time, we were able to find another deal within a short period of time. We even took all of 2013 off from purchasing any property and recently acquired a new investment for $4,400.
- I had been aware of internet marketing for several years, since back in early 2000 when I was in high school. I actually attempted to start a business reselling items on eBay and using a drop-shipper. That business never gained much traction, but I still see people able to successful create new businesses like this each day. We are in the process of doing this now.
- In college I started selling books on Amazon. At that point there were tens if not hundreds of thousands of people doing the same thing, but I was still able to profit a few hundreds dollars a week while doing it part-time in college.
- We just started this blog, even though there are millions of blogs out there. Even so, we are starting to gain a following on Facebook, Twitter and our website.
- Pat Flynn started his blog, Smart Passive Income, back in 2008 when he lost his job. Even though there were millions of blogs, and a large portion of those in the “make money online” niche, Pat was still able to stand apart and generate a mid-to-high 5 figure income each month.
- John Lee Dumas, host of Entrepreneur on Fire, could have been seen as missing the bus. By the time he started his podcast (by the same name) in 2012, podcasts had been around for several years and there was quite a bit of competition in the space. Even so, in less than a year he was able to generate six figures a month from his blog/podcast. To add to this, Pat had John on his Smart Passive Income podcast a few months ago (SPI 097 : John Lee Dumas on his 6-Figure Month, Facebook Webinar Strategy and Adding Sponsors to Your Show). On the show, Pat asked John why he thought he could create a product around “how to podcast”, even though people like himself and Cliff Ravenscraft already had products out there. John had a great answer, and last month John profited $166,284 from all of his ventures. $124,000 of this came from his private members website Podcast Paradise, which is a great site with a ton of information and everything you need to “Create, Grow and Monetize Your Podcast”. So even with several large people out there showing how to podcast, John was still able to get in and create this great service.
Put It In Perspective
It is easy to feel like we missed the boat. The only time that you actually miss the boat is when you never get started. Other than that, you may miss a specific opportunity, but as shown with numerous examples, another opportunity will present itself.
I’d love to hear your experiences. Did you think you missed the boat, only to have another opportunity come along?