To Work IN or ON your Business?

[Tony Wooldridge]

Hello again BP Nation. For those of you not familiar with me or my situation, I just started my 1st Flip and have had a very strong belief in doing a lot of the work myself as I feel it is important especially just starting out. I feel that this will give you a better insight into how the whole picture (the totality of the project from start/finish) of this REI thing works.

I certainly in my short time investing/flipping this house have had some very eye opening experiences (almost killed myself! no kidding I really did, I wrote a Blog about it!) which has led me to take a deep pondering of should one work on or in their business?  

So I ask you BP Nation, what was the turning point for you that led you to work on your business instead of in your business? Thanks ahead of time for stopping by to share your insight with me and for all of us to learn! Here is to wishing everyone a successful 2017 in your REI ventures!

[Gabriel Amedee]

I am no where near an experienced flipper but I do read a lot about business and have noticed in order to expand your flipping business you need to treat it just like any other business.

I think you can agree it's pretty inefficient to try to be working on 5+ flips all at the same time if you plan to be doing acquisition, rehabilitating, listing and whatever major phases I've left out all by yourself. In order to scale the business you have to weed yourself out of the small jobs that pay $10-30/hr and focus on the tasks that make the real money. The tasks that can't be done by anyone else but you at the present moment. I think about this concept in any small business I come across and every business has those small jobs that can be outsourced. I'm sure others more experienced will pitch in but hope I was able to give you a slight understanding at the least.

Happy investing!