Oops… I Stuffed Up!

It’s time to swallow my pride.

I’m revealing one of my recent mistakes.

Read on, because this affects you too.

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The story goes like this….

A few months ago I relaunched the PropertyResourceShop.com website in all its glory complete with brand new tools, resources, blogposts AND my 2-Minute Deal Assessment Formula.

In less than 3 months, hundreds of people have already accessed this outstanding tool. In fact, it has become our most downloaded resource of all time!

And it’s just come to my attention that I made a big mistake with the formula!

Before I share with you where I stuffed up, I want to articulate a massive lesson learned, since that’s what mistakes are for right?

Lesson learned

You see, just last week I wrote about the importance of building a team. If you missed it, check it out to find out the 7 professionals you need to have on your team (and how to get access to mine)

Now, your team doesn’t just consist of professionals and consultants… they’re made up of mentors, colleagues and anyone else that is willing to support you on your journey.

Funnily enough, a good friend, colleague and fellow fundraiser, Paul Derry called me up last week after he had downloaded the 2-minute Deal Assessment Formula and politely told me of my faux pas.

Thanks, Paul, for your honesty, insight and genuine intention to help ME on my journey!

So here are the two lessons that I’ve been able to take away from this slightly embarrassing scenario:

  1. Continue to surround yourself with outstanding people that genuinely want to support you and see you succeed.
  2. Mistakes are going to happen. That’s all part of your growth and it’s important to own them, learn from them and move on.
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As the great Henry Ford said,

One who fears failure limits his activities. Failure is only the opportunity to more intelligently begin again.

But what was the mistake?

So here, just like Henry Ford suggests, I am beginning again with a new version of the 2-minute Formula to download and use till your heart’s content…. but first let’s take a look at where I messed up.

Take a look at the image below and see if you can spot it:

A screenshot from my 2-minute property assessment formula (before I fixed it)

Did you pick it? Thats right, the ‘profit on costs’ formula is incorrect! This is how it should have looked:

A screenshot from my 2-minute property assessment formula (with the correct formula)

Now imagine if that mistake was made on an actual deal…. the results could have been devastating!

That’s why it’s critical to leverage off your team. Don’t be the lone soldier that tries to do everything yourself. You NEED to be surrounded by a genuinely supportive team of people that see your success as their own.

So for those that have already downloaded the 2-minute deal assessment formula – I’m sending the new version to your inbox.  And If you haven’t accessed our most downloaded resource yet, now is the perfect time. You can find it here

The bottom line?

I’ve made a ton of mistakes and I intend to make plenty more on my journey as a property investor. I know that with each mistake I have the opportunity to keep moving to the next level.

Own your mistakes, have the courage to take responsibility for them and above all, be grateful for the lesson learned.

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2 thoughts on "Oops… I Stuffed Up!"

Good call Matt and Paul! Feels good, doesn’t it, to man up and admit to making a faux pas and not pass the buck. ….. and thanks for saving us mere mortals from disaster!

Thanks for the comments Carmel and yes it takes far less energy to just be honest when things go wrong. Besides, I’ve grown to learn that mistakes are a good thing… as long as you learn from them 🙂

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