Welcome to Boostly Podcast Episode 417. This is a recap of my Facebook live where I talked about why you CANNOT do property alone.
Here's the audio for this episode:
Here's the video for this episode:
https://www.youtube.com/watch?v=i2gPSHRE5x0
Timestamp
00:00 Start
01:00 Ego Entrepreneur
02:20 About managing people
Transcript
The ego entrepreneur that has to do everything, I acquired 21 units in six months. And I did everything, you know, I was putting curtains up at 2am in the morning with the wife ring, and we say Where the hell are you at and I'm like, can't get these curtains and I've got some guests coming tomorrow. And, you know, and I exploded, you know, I was I just didn't, I didn't believe in help, I didn't want to give any money away and I ended up smashing my head open and end up in hospital. And pretty much the doctors like you, you're burnt out, you're doing far too much. And that was the moment for me where I listened to clockwork, the book and just changed absolutely everything for me.
And from that day forward. I don't even think I've lifted a hammer or a drill. And I've instantly built a team around me. And now I don't really go near properties, I don't do anything with them. I don't get involved in operations. But my business has gone from, I don't know the percentage growth has been but it's been you know, a lot. And that was because people can take you so much further than you can do. You know, by yourself, you can only go so far by yourself, you have limitations.
About managing people
And also, you know, one thing that I've understood from managing people, not only my business, but the kind of the roles I've had previously is you never get somebody to do two roles in a company. Because they will always choose the role that they prefer. And they'll use that as the excuse why the other role doesn't get the time of day. So to give you an example, you know, if I had someone doing guest operations, and sales calls to estate agents to try and you know, to try and pick up new units, well, they might not like cold calling. So they'll just do all the guests on and then they'll be like, ah, we have so many guests this week, I just didn't have time to do the sales calls. You know, naturally you might get someone who doesn't like handling guests so they but they love picking the phone up which is me. So I'll be like I'm sorry, the operations gonna shit because I didn't have time to I was real estate agents all the time. So one thing I've learned is like, get people what I call in their zone of genius. And that goes to you as well. Get yourself in your zone of genius, do what you like, do what you enjoy. And then you hire every single person in their own different zone of genius that complements your business. And if you do it in the right way, they will return an investment. They will return on your investment in them both financially and in terms of what you get out of it. They won't be an expense to the business.
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Transcript from the Episode
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