The Importance of Building a Team

You can only be a one-man show for so long. Having a team of trustworthy people can allow you to scale your business a lot quicker than you could on your own. As a 'soloprenuer', you can only leverage your own talents and abilities. With a team of people, you have all their skills and experiences to leverage along the way as well. And then you can go from owning real estate to owning a real estate investment business. 

I was recently at a conference in Arizona and one of the speakers said this, "Fire yourself in your business as much as possible." He had a great point and it forced me to think about stepping away from the day-to-day operations and focus on revenue-generating activities. 

Before I built a solid team, I was try to complete 6-8 rehabs per month. My head was spinning and I knew that if I kept this up, my business would lose momentum and I wouldn't be able to produce consistent results. I needed to build and I needed to do it quick. So I took myself out of the day-to-day operations, hired some great team members, and leveraged their experience. Now I spend the majority of my time sourcing more deals and building better systems so I can keep scaling and growing. I am always training my team and get feedback on ways to always be improving as well. 

Before I could do any of this, though, I had to let go and put my trust into other people. I knew it was not going to be easy, but that it was absolutely necessary if I wanted to hit my goal of 100+ units in my first year. 

I know there a many of you out there who refuse to give up control of some of the operations. I did too for a while, but realized early if I wanted to reach my goals, I needed to hire and step out of the $10 activities. It's definitely something to think about as you grow your businesses and of course, it depends on your end goal as well. If buying a couple properties per year will help you reach your end goal, then you certainly don't need a large team. But if you're ambitious and want to build a larger business, I hope you take in a coupe of these points. Thanks for reading!