Today’s REI Classroom Lesson

Patrick Donohoe chats with us today about having a “Vivid Vision”, a concept Cameron Herald created. Patrick goes into the background on the concept and how it can change your mindset and your business.

REI Classroom Summary

By setting up a 3 year plan, you’re able to ask yourself what you want (personally or as a business), and set goals for yourself. Patrick mentions the book “Double double” by Cameron Herald, which explains how to double your revenue and profit in 3 years.

Listen to this REI Classroom Lesson

Real Estate Investing Classroom Show Transcripts:

Mike: Welcome back to the flipnerd.com REI Classroom where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
Patrick: Hi everyone. This is Patrick Donohoe. I’m the CEO of Paradigm Life. You can check out my podcast. It’s with thewealthstandard.com, or you can just go to iTunes and look up The Wealth Standard. My company is Paradigm Life. You can go to our website, paradigmlife.net. Today I’m coming at you with the REI Classroom, and the topic I’m going to be teaching you about is what’s called Vivid Vision.
Mike: This show is sponsored by passiverental.com.
Patrick: This is a super important aspect of not just my real estate but my personal life as well as my business. I first learned about Vivid Vision from a guy named Cameron Herold. He’s a Canadian. He’s a really cool guy. Follow him on Facebook. He runs what’s called The COO Alliance. He does a lot with YPO if you’re familiar with them or EO and also Vistage which is kind of like a CEO or C-level business guys meet up group that’s international. Cameron was the COO of 1-800-GOT-JUNK.
This concept of Vivid Vision is basically your three year plan. It’s not a vision statement. It’s not even a three year business plan. What he does is he walks you through this incredible exercise. You can find it. Actually, it’s on his website I think. You can just find Vivid Vision PDF. He has examples on there. There are chapters from the book. The book is called “Double Double” and it just teaches how a business can double their size in three years or less.
Anyway, this Vivid Vision, the idea is what you’re doing is you’re basically asking yourself the question, “What do I want? What am I seeking?” Part of the exercise is actually kind of going out and being outside of your natural habitat or environment and starting to envision really what your business is, what your real estate is, what the status of your life is three years down the road. This could be . . . Right now we’re in March, so March 2020 or April 2020. You’re writing through this exercise explaining what life looks like.
What that does, it really helps you to solidify what you’re seeking. What does your personal life look like? What do your investments look like? What does your business look like? What does your health look life? I know there are lots of exercises for this. Really the three years is profound because it’s far enough out but it’s not too far out where you’re not going to work on it right now. Then, also it’s really starting to identify how much could happen within that given period of time.
Cameron Herold is brilliant about making things simple in his book as well as some of the PDFs that are online. Like I said, I think there’s a bunch of stuff on his website, too, so go check that out. He walks you through that process. The Vivid Vision is just something that helps when it comes to setting specific goals and really solidifying or clarifying what you really want, what you’re seeking. Then, he also has some parts of it which helps you reverse engineer what that vision is through other things that you can do.
I would say it’s written more for a business, but you can apply it 100% as an entrepreneur or as a real estate investor. Definitely check that concept out. Putting forth your three year vision as far as what your life looks like is profound. What it does is it helps you identify really what you’re doing right now and if it aligns with this three year vision.
That’s it for today. Hope you guys found some value in that. We’ll talk to you next time.
Mike: Passiverental.com is your source for turnkey done for you rental properties. If you’d like to be an investor and not a landlord, please visit passiverental.com to learn how to purchase cash flowing professionally managed rental properties in the hottest rental markets across the country. We can also help connect you with financing for your next property. Invest the easy way today and get started by visiting passiverental.com.
Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of flipnerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions as real estate investing can be risky.
Are you a member yet of flipnerd.com, the hottest real estate investing social community online? If not, you can join for free in less than 30 seconds and get access to hundreds of off-market deals, vendors in your market to help you in your business, and you can start networking with thousands of other investors just like you. Get your free account now at flipnerd.com.
Please check out the FlipNerd family of real estate investing shows where you can access hundreds of expert interviews, quick tips, and lessons from leaders across the real estate investing industry. They’re available at flipnerd.com/shows, or simply search for FlipNerd in the iTunes store.

 


 

Patrick Donohoe
Patrick H. Donohoe RFC, IAR ...is a business person, entrepreneur, investor, and podcast host. Patrick is the President and CEO of Paradigm Life, a private financial service, consulting and education company which provides its services to individuals, businesses, and investors. Paradigm Life started in 2007. Patrick is the host of The Wealth Standard Radio, which has been broadcasting since 2007 and continues to airs live weekly. Patrick is the co-creator of The Cash Flow Wealth Summit - a virtual financial conference. In its inaugural launch, the conference had 33 presenters speaking on 12 different topics which ended up attracting over 5900 attendees from more than 30 countries. Patrick is also the President of PL Wealth Advisors, LLC a Registered Investment Advisory. Personally - Patrick grew up in West Hartford, Connecticut and moved to Salt Lake City, Utah in 2003 to attend the University of Utah and subsequently graduated with a BA in Economics. He currently resides in Salt Lake City, Utah, with his wife of 13 years and their three children.
Patrick Donohoe

Latest posts by Patrick Donohoe (see all)