Ways to Scale Your Business

Not long ago, I was talking with Jack Gibson from High Return Real Estate. Jack started his first business from his college dorm, grew it into a multi-million dollar operation and soon after he purchased his first property, he was able to grow it into 5 investment properties and then to 50. One of the major assets which allowed him to achieve this was having a great real estate team.

The Two Partner Companies

He mentioned that there are two partner companies, High Return Real Estate, which handles sales and marketing along with providing all the financial capital which allows them to acquire properties. The company's main focus is to market and sell properties.

Jack and his friend are partners in High Return Real Estate. They have incredibly distinct personalities which means they complement each other. Urban Haus is the sister company that handles all acquisitions, rehabs and property management. Both companies are intertwined. Potentially, it would work as one company as they are producing and selling products as one team. 

There are two office assistants along with eight construction teams that Jack and his partner deploy out to rehab properties and carry out maintenance. It is an efficient operation that allows them to produce up to 10 new properties per month. 

The Perfect Partnership

When asked, 

"Did you all know that you had these complementary skills before you partnered?"

Jack responded informing us that his partner was the digital marketing coach for his nutrition company. Jack was living in Michigan while his partner-to-be was in Austin. They met through Facebook advertising where they were marketing their companies, consulting and digital products. Jack saw the way his partner's brain worked and knew it was more systematized, procedural, organized, and very in tune to details. Jack described his own personality as,

"Ready-fire-aim" 

or 

“let’s go, let’s get this done."

His partner has a better ability to see how all the components and parts of the big picture come together. It is a phenomenal partnership and a great reminder that it is important to not have the same skills as your partner.

When asked about scaling the business Jack said that he's trying to 

"Dial-in even more",

When you have two different companies working together, you are not always dialed in together. To be able to do that you need awesome people and all of them have to have different skill sets, personalities, competencies in other areas than you. For example, there are a lot of things that maybe you are not great at, that you don’t understand how to do. If you are not technologically inclined then you need to know how to put the right person in place to get the job done. You’ve got to be able to look at all the different component parts of your team, you need to empower them and give them the latitude to do what they do best. You also must make sure that they have good financial compensation or financial rewards. In conclusion, it's teamwork, teamwork all the way, that’s the only way to scale a great company.

Listen to the full podcast episode: https://lifebridgecapital.com/2019/08/ws297-empowering-your-real-estate-team-with-jack-gibson/