I challenge you with an interesting question:
What things in your business are you NOT good at doing?
I know what I’m not good at… I know my weaknesses…
I’m not good at talking to sellers.
I’ve done it, and sure I’ve gotten deals from it, but the sales part of this business just isn’t my thing. I’m not good at prioritizing the time to actually do it.
So, what’s an investor to do?
Well, my good buddy and fellow investor, Tom Kroll gave me some interesting advice a while back:
Don’t fix your weaknesses—OUTSOURCE THEM.
Again, I’m not good at sales, but it’s the million-dollar skill…
So I followed Tom’s advice and hired someone to do it for me.
Know what else I realized?
I’m also not good at marketing. So I hired a VA, and taught her when and how to market for me consistently.
In fact, I took this even further—I wrote down every step and task that’s needed to a deal…
And then I outsourced it all.
What a fun and successful experiment. The people I hire—my team members—they’re executing and implementing it all…
Because they do well what I can’t:
- My Realtor sells properties
- I have a local assistant who sends out mail
- My VA prescreens calls
- I work with local wholesalers who take my leads and flip them to their buyers and we split the profits
You get the idea.
So ALL this work is getting done for me—and in spite of me.
Now, I want to challenge you to think about this and write it down…
- What things are you naturally good at and enjoy doing?
- Maybe you are good at the tech stuff like Podio and websites, for example…
- What are you not good at?
- Maybe you’re not good at organizing and pre-screening leads, for example…
IMPORTANT NOTE: This is NOT to say that we shouldn’t be working on personal development. We should. If you’re not good at negotiating—learn it. I’m not good at sales—but I study it and read books. Learning or improving skills is important… but it doesn’t mean you must be the one doing it.
For now, all the stuff you’re not good at? Outsource it to the right people.
You can start small by farming out just a couple of tasks and work up from there. It can turn your business around in just a few weeks.
Look, you need your time freed up to do what you’re good at and what you love to do…
Outsourcing is the way to do exactly that.