The Importance of Not Doing Everything Yourself

Innovative entrepreneurs are go-getters by nature. They see an opportunity and lunge to conquer it.  

Learning the importance of scaling your business is essential to success. Glenn shares his insights about delegation in his video

Bold and successful entrepreneurs possess no fear in terms of taking risks. While some seem more attracted to huge risks, savvy entrepreneurs take measured risks where the potential loss is tolerable.

There is a dividing line between incredibly successful and marginal entrepreneurs – and that line in vision.

The Visionary Entrepreneur

Starting a real estate investment business is no different from starting any other company. The real estate investor can see the scope of their business clearly – this is an investor with a vision.

Real estate investors, like most entrepreneurs, take charge, move forward, and make things happen. They do this by first understanding the basics and intricacies of the market.  

Training is vital in this regard, and organizations such as Home Flipping Workshop make all the difference in correctly launching your real estate investment business.

The new real estate investor is ready to seize the day with security training and continued mentorship. 

The vision, an inspirational explanation of your engagement in real estate, drives you from one day to the next. 

You care for the concept, nourish the idea, protect it, and flawlessly execute it. Always remember, your vision is your foundation for success.

Without a vision, your ideas will crumble into nothingness. 

While vision is the absolute most ideal foundation, the growth of the business becomes the next challenge.

Ask yourself the following questions about your business:

  • How do I grow my business?
  • What does it take to enhance my capability?
  • I like operating my business. Can I remain a “one-man” show?
  • If I remain a singleton, will I forfeit potential opportunities because of my limited capability?
  • Think about it. You can only do so much in a day, throughout the week, during the month, or by the end of the year.

    Any business with a visionary foundation only excels and exceeds expectations due to scaling. 

    What Does It Mean to Scale Your Business?

    Scaling your business means operating a company with more depth, breadth, speed, enhanced functionality, and robust capability. Simply put, scaling is getting more done daily than you usually can.

    How does a real estate investor scale the business? A good leader does so by hiring quality people and building an ambitious team of got-getters.

    The Real Estate Team

    Building a real estate team is a sign of maturity in the real estate investor.

    Savvy and innovative entrepreneurs know they cannot do it all. If vision is truly the foundation of your business, it will always require the inclusion of others.

    The beauty of having a vision is that it enables you to grasp broad and deep goals. 

    It seems simple at first, but as the entrepreneur develops his business, the vision has an uncanny way of exposing room for growth and expansion.

    Therefore, scaling becomes a necessity when you attain the vision.  Consider building a team to fulfill the following roles:

  • Front Office Work: Phone, email, scheduling, and organization.
  • General Contractor: Oversee all renovation projects, help estimate potential renovations.
  • A Mentee: Someone to attend negotiations with you so they can learn.
  • With an initial team like this, you will be able to build a thriving business much sooner than if you make the mistake of “going it alone.”

    Many new investors make the mistake of operating solely because they fear losing control of their business.

    Prepare to Start Relinquishing Control

    Glenn Schworm, the founder of the Home Flipping Workshop, discusses the importance of relinquishing control.  

    Most real estate investors fear relinquishing control of daily tasks. They think about all the negatives that can happen.

  • What if the work doesn’t get done?
  • What if the quality is not 100%
  • What if the ball gets dropped, and I do it regardless?
  • What if…?
  • Sure, relinquishing important daily tasks comes with risk. It is no secret that delegating tasks to another person is not the same as doing it yourself. But let’s examine the risks:

  • Delegating critical daily tasks to another person requires time. You must include training. Competence does not come overnight. It may take a week or two depending upon the task. Time is money, so there is a labor cost associated with delegation.
  • Delegating important tasks also increases the real estate investor’s revenue-generating time. Afterward, once delegation occurs with any task, the real estate investor is no longer bogged down with mundane administrative work. He can do what drives the company to huge success–contract new deals.
  • So, relinquishing control comes with risk, but it is a risk well worth taking. Once your team member is competent, training time will pay off quickly. 

    You will be able to move quicker and more efficiently in finding deals and transacting business.

    The more tasks you can delegate that are not directly associated with finding and closing deals, the quicker you achieve freedom and wealth.

    Relinquishing control is not irresponsible. It’s utterly logical if the business building is your aim.  

    The question remains; Do you want to be incredibly successful or marginally successful?

    Learn More About Delegating to Scale Your Business to Success

    Please do not make the mistake of thinking you can do it all. You can’t. 

    Building your business on the foundation of a clear vision will always require the inclusion of others.

    Learn more about building a thriving real estate investment business by attending a virtual workshop with Glenn and Amber Schworm, founders of the Home Flipping Workshop