But I can understand where you’re coming from.
It may even be true, but guess what? It doesn’t matter. You need to dump that attitude and start delegating to your team or you won’t grow. What I mean is that you won’t grow as a person and your business won’t grow. You won’t hit your goals if you keep doing, doing, doing on your own. No one get to their goals alone.
Let’s take a look at this pesky syndrome that is holding your back…
You’re used to doing all the filing and correspondence, or maybe you are used to doing all the bill-paying and bookkeeping for your business. Is that because you think no one will do it as well as you?
My question to you is… do they have to?
The answer is no. They need to get the job done in their own way within a specified time limit. You dish out the chores and they get them done. The end. I promise it won’t be the exact way you do things, but if the things are done in the end, that’s good enough. If you can’t dump the attitude that only you know how to do X, Y and Z, you can’t thrive.
Here is a great big truth that you need to embrace: NOTHING IS PERFECT. (So stop expecting it to be.)
Furthermore, a great manager and delegator gives someone a job to do, describes the tasks and the expected outcome, and then steps back. They don’t micromanage or hang out over the person’s shoulder.
Don’t be that person… that micromanager.
When building your team, you will need to let go and let others do the tasks that allow you make the best use of your time, like getting on the phone with investors, driving neighborhoods to look at properties and negotiating deals over coffee.
As your business and portfolio grows, you likely won’t be doing all of these parts either. Unless you think you can’t delegate to other human beings tasks like finding properties. What do you think a bird dog is in the real estate investing realm?
That’s a GREAT person to add to your team if you don’t have time to look for properties!!
If you’ve never heard of the term before, a bird dog is someone who can find good properties for you for a fee that match your criteria. They get paid if the deal goes through, so they are motivated to learning as much about a property possible.
Beyond getting the basic address of a property and contact information of the actual property owners, a good bird dog knows to ask lots of questions, like:
- Why is the seller selling?
- Who is the person or persons actually on title?
- What is the overall condition of the property?
- Are there any liens or encumbrances?
- Is the property a fixer-upper or does it have some major damage?
- Does it meet your criteria?
If the bird dog can get you the best intel on properties, he/she is an asset and should be considered part of your team.
As your business and portfolio grow, so will your team.
If your business isn’t something that will grow simply through word of mouth, guess what? You will need help in the marketing department. (This is true for every business on the planet.) A marketing person is an ideal person to add to your team. In the ideal world, you will hire a marketing team to handle that side of the business for you. Once again, delegating your marketing to those who specialize in it frees you up to do what you do best… finding properties and doing deals.
If you want to build your brand, you will need someone to write for/with you, create social media posts for you, put up sales pages for you or whatever you might need to get your message out to the world so your business can grow. If you are also an educator in the real estate investing space, you will need a marketing team.
For me, the one thing I don’t typically need assistance with is design. That’s because I happen to be a good designer who has been doing graphic design a long time. If you don’t possess such skills, you’ll need a designer. That person typically comes with a marketing team. However, as you grow you may add to your marketing team one person at a time. These people will need good communication skills; they will be communicating with you and with the other members of your team. (Don’t worry. This happens over time unless you have a big budget for marketing.)
My point here is that as you grow you will keep adding members to your team. The end!!
Some will be paid outright; others will take a commission on sales; some will participate in your deals in a variety of ways. How you work with people is up to you, but you WILL need a team.
What is stopping you?
Sometimes we put off what we know we should be doing… like building a team. Many times, our failure to move forward boils down to internal fears. But to reach our success goals, we need to overcome our fears. A great first step is to hire a virtual assistant and/or bookkeeper.
Like the old adage says, teamwork makes the dream work!!! So let go of your fears.
- Don’t fear giving up control. You’re not. In fact, you’re in total control… of your business. (Not the people and every little thing they do.)
- Don’t fear hiring the wrong people. You will. You absolutely will. Typically that’s how you get to the best people. You have to make a few hiring mistakes along the way.
- Don’t fear doing things wrong the first time. Again, you just might. But you can’t let the fear of making mistakes keep you from working toward your goals.
- Don’t fear paying people. You have to. You can’t expect people to work for free. You may get a few who will work in creative ways, but don’t ask people to work for free.
No one gets to the goal line alone; it takes a team. The best thing in growing one is that you get to grow along with it. You get to bond with your team members as you all look forward to a fantastic future that will carry you years into the future.
So, how do you find your dream team?
Here’s something you need to understand…
You will ALWAYS keep your eye out for people to add to your team.
TIP: As you chat with people in line at the coffee shop, you might just meet your dream bookkeeper.
TIP: As you are browsing the aisles of your favorite neighborhood grocer’s you might stumble across a really good marketing professional.
TIP: As you talk to people online in let’s just say a good Facebook group where discussion is around real estate investing, you might be inadvertently interviewing all sorts of people who could take tasks off your plate!!
TIP: When you find these individuals, don’t let them slip away. Just because you can’t afford to hire them right now doesn’t mean you won’t be able to in the future. Keep in touch with them. Follow up is key!! Invite them to your events. Invite them to other likeminded events. Meet them for coffee. Get their input and feedback on things you’re doing. Keep them engaged.
That brings us back to the importance of networking.
Like I said in the last article, you need to be constantly networking… not just for properties, deals and private investors, but also for future team members!!
That’s why you should attend WREN events they will put you in direct line with likeminded people who might be great additions to your team.