I was recently reading a business book (I can’t remember the title of the book, but the following story stuck with me). It was about an entrepreneur who was running some type of manufacturing business. The entrepreneur worked from another location and tried to never go into the main office.
His reasoning was, every time he went to the office he got nothing accomplished because he ended up getting involved in other people’s business. For example: He’d walk by his customer service department and jump in and start answering the phones. Or, he would walk by the guys assembling a product and he’d get involved.
How Smart Are You?
Basically, he had the entrepreneurial “curse” of wanting to be in control and involved in every aspect of his business. However, this guy was smart enough to realize he had the curse, which is why he tried to avoid going into the office.
I think this is something extremely important that all real estate investors need to understand. If you truly want to close 10-20 deals per year and become hugely successful you need to learn how to delegate.
And your first order of delegation should be hiring a virtual assistant. And to trust your virtual assistant with your business and not “go into the office” every day and bother him or her (Like how I put “him or her”? Every once in a while I can politically correct…don’t get used to it).
Avoid Checking Your Voice Mails If You Can
I myself try to avoid all mundane and none necessary aspects of my business. One of the main reasons is because I know I’m like the entrepreneur in the book and will try to get involved with everything–that’s why I don’t want to know what’s going on.
As long as things are running smoothly I don’t want to be bothered. I don’t even listen to any of my voice mails that go to my coaching line or my house buying line. Because I know if I listen to the voice mails then I will want to take care of whatever the message was about and it will waste my time.
Do you do Czar-Like Activities?
This all comes back to your use of time and focusing on high dollar activities only. Don’t forget, you are the Czar of your company (Washington has a million Czars now, why can’t we be Czars?). You need to do Czar-like activities such as closing deals and negotiating with sellers. Don’t do activities a $10 an hour employee should be doing–do activities that will pay you $5,000 per deal…$10,000 per deal…$30,000 per deal.
Also, if you’re in the market for a virtual assistant you have my permission to give my trusty assistant Lisa a call, and pick her brain about what to look for, how much to pay someone and the contract to use (Don’t email me and ask me for her number. You’re going to have to be creative and figure out how to get a hold of her. Why? Because lazy and uncreative people don’t deserve success).