Making the Perfect Hire Each Time for your Wholesaling Company based on Psychology

[Cornelius Garland]

Let's get straight into it. I know wholesalers that have made hundreds of thousands of dollars in assignment fees, yet they are missing the important fundamentals of running a business. Most wholesalers are hustlers and grinders. While I respect this, there comes a point when you want to scale your company. Unfortunately, many wholesaling business owners learn how to run their businesses through trial and error. This is costly, time-consuming, and can easily dampen your spirits if you are constantly facing setbacks. I know we, as business owners are resilient but we all reach our boiling point.

What should your team look like?

I found this team buildout works for most wholesalers: An operations manager that is the second-in-command to the owner, who is responsible for supervising all other team members, a lead manager who follows up with all of your cold leads, and two virtual assistants who solely cold call or text. This is a perfect stack for a solopreneur wholesaler as this team is very manageable and efficient. Every person has their place and carries their own load. It's also easy to manage this stack because of the hierarchy I have in place. You can easily scale to $50k a month or 3 deals consistently with this model.

Notice, I didn't say anything about hiring an acquisitions manager. This is one of the last positions you should hire out. When it comes to contracting properties, I found that nobody is going to take it as seriously as the business owner (you). So for the time being, your primary focus should be on contracting properties (acquisitions), transactions coordination, and delegating tasks to your operations manager.

Let's chat about how psychology plays into all of this
I've successfully placed long-lasting hires in my company and my investing partners' companies by utilizing the Meyers-Briggs framework. I have each candidate take the 16personalities.com test. There are certain personality types that are natural fits for certain roles. For instance, ENFJs make excellent cold callers. While ESTJs make great follow-up managers. The role I've been most impressed with using this framework is hiring is the Operations Manager. This is a critical role as this person is your "second-in-command". They'll need to be autonomous, be able to pick up on tasks quickly, and also able to supervise & train subordinates. Also, my ops managers are required to learn any tools quickly and develop processes around them. So you may be asking: "How do I train someone on all of this?" Well, I've found that the ISTJ personality type performs this role effortlessly. I typically only need to provide these types with guidance and they can do the rest. It is remarkable. I've seen this over a dozen times.

Making the right hire is so important to the success of your operation. It can make or break your business. I have horror stories of making the wrong hire. If I knew what I shared years ago, it would have saved me many headaches.

I hope you found this information useful and that you can utilize it to make your life better while having a smoother-running business. I just scratched the surface on this topic. Any feedback or questions are more than welcome.