“Boom, Boom, Boom, Boom…This is how you build a REAL business…”
IN TODAY’S EPISODE:
00:09 One of the most important things you can do for your business
00:32 The quickest way to crash and burn your wholesaling business
01:15 Boom, boom, boom, boom. This is how you build a real business
Systemizing Your Wholesaling Business
Scaling Your Wholesaling Business Part 2
In this video, I’m going to show you how to build systems and processes to scale your wholesaling businesses to seven figures.
One of the most important things that you can do for your business right now is document all your systems and procedures. Now I know what you’re thinking, “Oh, this isn’t sexy.” Well, I can tell you that most real estate investors; they run around like a chicken with their head cut off. And when they hire people, they basically hire them as fast as they can, and they throw them in to their business, and they say, “Go lock up deals!” Right. “Run my business!” And that’s like the quickest way to [sound of falling and exploding] crash and burn in your business.
Systems and processes basically are the core of your business. They are list of everything that happens all the way from sending out a postcard to talking to a motivated seller to locking up that property to selling that property to a cash buyer and everything in between. Some examples are how to talk to let’s say a motivated seller; the actual script that you use and a list of questions, right? When you hire somebody, you don’t have to sit there and train them for 10 weeks, right? You can give them that script and if they leave or if they quit or if they’re not a fit, guess what, you can hire somebody else the next day and train them on that script and now they become a master of that script. Boom, boom, boom, boom. This is how you build a real business.
A second example would be, what contract are we using and maybe a training video and how to fill this out so that if something needs to be done, guess what, people aren’t calling you 24/7 or 10 o’clock at night. They can just refer to a training video that you created. One more example would be a policy. How do we sell a property to a cash buyer and collect that deposit? Maybe there’s a written document that says, “We sell our properties by accepting a $5,000 earnest money deposit that must be sent in by wire or by check the same day the contract is signed.” That’s written and now everybody knows that policy and procedure and they won’t go selling a property to somebody without taking an earnest money deposit. The reason why you do this is guess what? So your business can run without you, so that you can live an abundant lifestyle. And I’ll tell you what, as soon as you step out of your business, that’s when your business will take off guys. I know systems and processes aren’t the sexiest part of your business but they’re so, so important especially if you’re one of those people who want to do everything themselves. So I hope you guys enjoy this. I will see you guys on the next video.
Don’t forget to subscribe to our YouTube channel. Leave a comment below and most importantly, head on over to our website, NoLimitsRealEstateInvesting.com, where you can get a copy of the No Limits MAP, the Massive Action Plan and you get a head start on growing your seven-figure wholesaling business. Talk to you soon.