.png)
... from creating the business of our dreams is our ability to create leverage.
It’s the “I can do it myself” mentality that is submerging your growth.
It’s the “I have time to do it so I’ll save the money” mentality that will keep you from exceeding to the next level too.
It’s also the “I need to verify and overlook every little thing that my one employee is doing daily to make sure everything is done my way” mindset.
We all have this problem in varying degrees. No one is immune to it and business is a journey. It’s not created overnight it takes time to get there…
Once you figure it out you start to see money as a tool to create more time VS just to buy things with. It is the answer to all your problems in business but very few actually figure it out.
Why?
The business owner brain is designed to do it all yourself. You’ve worn all the hats because you had to. From startup to making your first dollar it was all on you. You develop a certain level of discipline to do those tasks and then start to believe you’re the best at them.
The truth is you’re not, and in order to grow you need to invest your profits into people who can help you grow.
Somebody once said to me: “Parker, are you really a business owner or are you your own most overworked employee?
And for most of us reading this that’s true.
Start by taking 25% of your profits and reinvesting them into a position that will buy back 100% of your time. This could be paperwork, marketing, or executive tasks. Then use that time you bought back to do growth related activities: lead generation, prospecting, recruiting talent, etc.
So if I make 10k a month, Parker, you’re telling me to invest $2,500 of that back into hiring people? Yes, exactly but think about it like this. You spent $2,500 to buy back 100% of the time it would take to fulfill that role so now use that time to go generate another 10k a month. Is a 4x return on investment but a 100% return on time worth it? 😀
You will need to delegate and trust the people you hire and be disciplined to spend the time you bought back on lead generation to bring in more business.
Most mess up this stage because managing people is challenging and then they give up.
This is why real estate teams have become more popular and the best teams are dominating. Agents realize they can leverage the team and utilize all the support they offer to leverage their time in their business and alleviate tasks they aren’t the best at.
To have transaction coordinators, listing managers, marketing staff, videographers, media, relevant training, and real estate opportunities through the best lead sources is one giant way to create leverage.
These are all leverage points you must build out on your real estate journey to grow. They are integral to your ability to buy back your time.
If you feel like you have no time or can’t grow this is likely because of this problem. Reach out if I can help.
Comments