The Blue-Collar Millionaire – an Interview with Joe Niego
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Everyone can learn valuable lessons from the blue-collar mindset. I recently interviewed my good friend Joe Niego about how his blue-collar origins and mentality translated in the white-collar world of real estate and brought about huge success in his life. Here are some of his top tips:
In the blue-collar world, the physical work is evidence of a job well done. Oftentimes in white-collar work, there isn’t that physical evidence, which is why it’s so important to find an accountability partner to hold your feet to the fire. In addition, a system like Buffini & Company Referral Maker CRM is a great way to help you keep track of your progress – we all need consistency, motivation and a sense of accomplishment to reach our full potential.
Establish a Routine
When you’re working in the trades, routines and timeframes are set in stone. You know what you’re expected to do at every point during the day and what you need to achieve by a certain time. This mindset is particularly helpful in the hectic environment of real estate. To get the most out of every day, put set routines in place so that you consistently achieve and don’t get distracted. There will always be variations, of course, but if you have solid routines in place you will quickly get back on track.
Get it Done
In blue-collar work, there are no excuses. It’s all about more action, less talk. The job needs to be completed in the right way and on time, every time, no matter what. As Joe’s father used to say, “If you’re willing to do the dirty work, you can become filthy rich.”
Know What You’re Building
As the saying goes, if you aim for nothing, you’ll hit it with amazing accuracy. Conversely, when you know what you’re building, the mind goes to work. Know what you’re aiming for. In this business, relationships move the dial so set daily goals and focus on calls, notes and pop-by’s to build strong, long-lasting relationships that endure.
Be Specific on Prioritized Tasks
Blue-collar work has a sequence. You can’t paint walls until they’re prepped, you can’t lay concrete until the old is removed, and so on. This particular specificity has a domino effect in that one task leads to another. The same sequencing can be applied to real estate. Be specific in what you want to achieve. How many transactions a year do you want to close? How many people do you need in your database? Who is holding you accountable? Is your team structured in the right way? When you’re building a referral-based business, you need to be specific if you want to get results.
In the trades, the more specialized you are, the higher paid you will be. For example, painters will often undergo a broad-based training and then go on to exclusively specialize in commercial properties or interiors and so on. This concept of ‘get rich in a niche’ is key to building success. Become the very best at what you do and then, instead of going wider and being a generalist, dig deeper. You will be highly compensated for being a specialist.
Know Your Hourly Worth
In blue-collar work you’re compensated hourly, which helps you to appreciate and understand the value of money. No matter what your job, you need to know what your hourly value is. When you understand your value, you will understand your impact and what role you should play. This allows you to become more of a rainmaker in your business.
The blue-collar mindset is all about a job well done. If you want to learn more about how this mentality can be a success formula for any walk of life, listen to the latest episode of “It’s a Good Life.”