One of the most challenging things about being an entrepreneur or just being self-employed, is learning to let go. It’s easy to struggle with this for people that want to control how everything goes and runs inside of their business, but if you want to scale and grow, you’ve got to learn to delegate and outsource. There’s that saying that you shouldn’t be working in your business, you should be working on it. As a real estate investor, that can be tough because it’s so easy to get pulled into a black hole on tasks that aren’t related to growing your business. They may seem like they are, but they really aren’t. After all, what really grows your business? It’s getting deals, talking to other investors and expanding your reach. Reconciling your checkbook or posting Craigslist ads aren’t activities that drive the ship forward.
So, what can you do? Well, one exercise that has helped tremendously in our business is to write out every single thing that gets done on a daily basis. By everything, I mean everything. From doing bids to marketing, to closing the file and everything in between, what needs to happen. I thought this might be 30 – 40 things and by the time I got done writing it all out I thought my head would explode as the number had reached 75. I never realized how many things I was doing on a day to day / weekly / monthly basis. It’s overwhelming when you look at it on paper. What do I do with this data? Well, it’s time to figure out what I can eliminate, what can I delegate, what can I outsource and what can I automate? Once I’ve got that figured out, then I can shoot a video for each task showing how it’s done and then teach someone to take on that task quite easily. All of a sudden, I’ll be able to free up a tremendous amount of my time to get out there and do what matters to help the business grow.
If you’ve got some tips on scaling a business, please comment and share. If you got some value out of this, please share! We want to watch investors win across the board and hope this makes a good difference in growing your business and success.