3 Things You Need to make More Money & Recapture more in your Business

This week, I’m talking about scaling your business so that you can get more freedom and even make more money by getting out of your own way and building a business that grows without being tied to the amount of time or effort you put into it.

In this blog post, I want to share the 3 things that every investor needs to build into their business to scale up. When you implement these 3 things, there is NO LIMIT to how big you can grow your business, if you build it the right way.

1. 1. Technology

Your business needs to implement technology that will allow you to do more in less time. Some of the technology I use includes a customer relationship management (CRM) system for buyers and sellers; marketing technology (including automated emails and even partially automated direct mail); project management software for the rehabs my team is working on; content management software for the various blogs, videos, and training I do… and so much more. Heck, even building an Excel spreadsheet with an algorithm that can help you calculate how much to offer on a property – that’s a powerful use of technology that can save a few minutes on every phone call.

Technology can automate your work so that you can run your business with the click of a button from your laptop or even your mobile device. There are many different pieces to each investing business so look at your business and find the tech that will help you run your business. The less you have to do, and the more you can get technology automating everything, the better.

1. 2. Team

Building a team allows you to grow your business by handing off pieces of it to other people. Find people who are great at what they do, tell them what you want, and pay them well… and you’ll get way more done than you think you can. The right team and do so much for you and you can keep growing your team to keep doing more and deals for you.

What trips up most investors is that they love doing the deals and then they fail to realize that growing their business with a team requires that they switch from the hands-on deal-making to hands-on management! It’s a very different way of working… it’s not bad, but it is surprisingly differently if you weren’t expecting it. But if you want to grow your business and make a lot of money and get a lot of freedom, a team is the way to go.

1. 3. Tools

Tools play an important part of your business and they’re often overlooked because investors tend to think of a team and technology as the two ways to scale. But there are tools that you can implement throughout your business to grow it even more. For example:

• Checklists of how to handle every type of phone call
• Instruction manuals that walk you step-by-step through any kind of task
• Systems and processes that are clearly spelled out that you simply follow every time you need to do something

Build these tools to systematize all of your daily actions and turn them into routines. By doing this, you can do deals more quickly, and, you can even hand off the instructions to a team member as you add them.