|Did you know there is a process to add words to the Oxford Dictionary? In order to be considered you have to be added to the dictionaries watch list database…They receive thousands of these inquiries every year and over the course of a year or two they scour the internet for references, uses, and eventually rubber stamp a new word if it passes all of their criteria. Not sure who gets the credit for the word but if the word Dilusional becomes a new word, just remember you heard it here.|
I use this word to describe someone that has a business model or idea with lofty expectations but lacking the fundamental foundation of systems, processes, and personnel which over time continually becomes diluted in either customer service, product quality, or slow to adapt to the technology. The root words of DILUSIONAL is delusional and dilution.
|Dilute: make (something) weaker in force, content, or value by modifying it or adding other elements to it.|
Delusional: A delusion is a belief that is clearly false and that indicates an abnormality in the affected person’s content of thought. In the Turnkey business I come across a lot of delusional operators who will say they are a turnkey provider but the customer experience and property quality is FAR from it.
The opposite of a Dilusional Business would be one that leans into what it does better than anyone else in their field. They know what they are exceptionally good at and continually focus on the 2-3 core features of their business model that sets them apart and it becomes what they are known for.
A perfect example of this is Apple. However, they were not always this way! Did you know that Apple was on the brink of bankruptcy after they ousted Steve Jobs from his CEO position? They removed Steve Jobs because they felt that they were not capitalizing on all of the additional opportunities out there so they stopped pursuing perfection with their Mac computer and began spreading their team thin in the pursuit of becoming a jack of all trades company.
Their product suffered and their competition was steamrolling them…Until they begged Steve to return to his position and within the first month he had completely removed all products they were working on or had worked on except for the 3 products that brought in the overwhelming majority of revenue. By refocusing everyone’s efforts and pursuing perfection.
We hope to be the “Apple” product for investors looking for turnkey properties. To be completely honest, finding a reputable turnkey company that you can trust is incredibly difficult to find. Trust me, I have looked for over a decade and I have gone through several horrible experiences with turnkey providers. And I started to notice a trend with those that were not successful. They tried to scale way too quickly and by doing so they sacrificed quality, attention to detail, innovation with software, and trying to squeeze every last dollar from an investor ended up burning their reputation and they are continually having to find new investors.
We have been incredibly fortunate to have a small group of investors that continually come back to us every time they have the funds to invest in another rental because we told them we would provide a service and then delivered on that service. And while we still feel like we have plenty of room for improvement, the key to a successful business is laser focus. In other words, avoiding DILUTION by becoming distracted.
Easier said than done…But it sure is worthwhile and satisfying trying to attain.
If you are looking to work with a turnkey provider that will provide you with a white glove service every time you purchase a property, we would relish the opportunity to show you what makes us unique and sets us apart from any other turnkey provider in the Nation.
Call today for a free consultation.
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