I'm just finishing up reading "The E-Myth Revisited" by Michael E Gerber.
There is a TON of useful and applicable information about business. He talks a lot about making your business with the mindset of making it a franchise. You can't really do that so well with the business of flipping houses. Each one is circumstantial with obtaining, how much work needs to be done, etc.
Yes you can apply how you think about your business and how to start it with the right organization.
BUT you can't really make flipping houses a franchise so how do you guys apply this book to your businesses?
@Abigail J Steinert there is an e-myth book for real estate investors. Actually there are numerous e-myth books for different types of businesses and professions. Here is a link in Amazon, https://www.amazon.com/Myth-Real-Estate-Investor/dp/0983554269.
The thinking is to have systems for all your decisions. For example, always have the same type of flooring for a specific price point so you don’t waste your time looking for flooring for every project. This also allows you do know the budget much quicker. In the first few projects you will have to figure out what works and eventually the decision making process goes a lot quicker and smoother. Also, who do you hire and what do they do? Is it worth your time to make small decisions, build a cabinet, or find investors? You can’t do it all so you have to build a team. Find out what you are strong at and fill in the holes with other people.
The goal of e-myth is that you are not doing everything. You don’t want to work 80 hours a week. You want to make the money and delegate to others.
I hope that helps.
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