Some gurus are killing it in real estate investing: they are making six figures in monthly income, having thousands of units in their portfolio, and enjoying massive success. While we know these gurus exist, we get confused when they try to sell us courses, webinars, books, and whatnot.
Why do they need our money? They are already killing it - what impact would our modest contribution do on their bottom line?
Moreover, are they crazy? If they found a winning formula, why don’t they keep it to themselves? Why do they want to give it away for a small fee?
I want to share with you why these gurus would sell courses and why they act smartly in doing so.
Reason #1: Income diversification
One day, a mysterious virus hits the world, causing a downturn and slaying the guru's golden goose. While this is a once-in-a-generation event, other not-so-rare events can happen and impact the gurus’ business. Eventually, the fact that a guru found a secret sauce doesn’t mean it will last forever.
Selling courses, webinars, books, etc., serve as a method to create income diversification, meaning that the income of the guru does not solely rely on one income stream. When one income stream dies, the rest can survive and help keep their head above water.
Think of Grant Cardon - a real estate guru that invented 10x yourself. During covid, he fired 80 employees from the marketing departments overnight. At the same time, his real estate business kept him going. Income diversification is important for the survivability of the guru.
Reason #2: Talk with the crowd
Creating content is hard. You research, write, record, reiterate, and wishfully create more value than the price it costs. Even though it is hard, content is produced once and can be consumed by others millions of times without much extra work.
This one-to-many relationship (produce once, consume by millions) creates an excellent motivation for anyone to create content and put it out there - especially for gurus that have a lot of followers and can’t meet or talk with all of them. If they manage to create compelling content that others interact with, they get infinite returns compared to the invested time.
Reason #3: The six-abs formula
In today’s world, knowledge is everywhere. We all know what it takes to have a six-pack - eating healthy and practicing. But we are not walking around with six packs, right? Knowledge is not worth a lot without applying the right actions.
The gurus have systems, processes, and teams to support their business. Giving away their knowledge rarely harms them. So, why not share the wisdom and earn an extra buck?
Reason #4: Own gains
For a guru to discover a secret formula, they must try things constantly and systematically, eventually finding a specific path to success. Teaching involves different skills and methods, including taking the audience hand in hand and explaining the course of action.
To teach, the guru must go back to basics and justify every decision. While relearning the basics, the gurus sharpen their ax. Moreover, once the content is ready and is out there, facing students’ questions and unique ways of thinking helps them dig deeper, firm their understanding and improve their methods.
Reason #5: Leverage the persona
Creating content and putting it out there is merely enough. “If you build it, they will come” is a known phrase that is rarely true; Instead, gurus have to invest time and money to put their content in front of others like any other content creator.
Putting their content out there adds up, and with time, new people outside the guru’s immediate reach will be exposed to the content. Getting to new people will allow them to grow further, hopefully creating a new audience for their content and elevating other parts of their business - finding or funding their next deal.
To conclude, even a guru that cracked the code needs income diversification and stability and knows that the next deal can come from everywhere.
We almost have to take advantage and learn from the top gurus of our industry!