Do I Have to Wear All These Hats?
In today’s post, David “The Diamond” Oswald shares how to outsource effectively (aka pass out the hats) as a real estate investor …
Do you remember when you started your real estate business, determined that you were not going to work for someone else anymore? What were you looking for?
… the freedom to be your own boss, deciding when and how much you were going to work and getting to keep all the profits?
If you’re like most budding real estate entrepreneurs, you found that the reality is very different. Instead of being stuck at the desk of another company, you find you’re chained to your own desk, often working late into the night in order to get everything done.
Did you ever realize how many hats you would have to wear as a real estate investor?
All the job functions required to run a successful REI business are funneled into one person – you – as you try and become an excellent accountant, marketer, attorney, property researcher, website designer, and, oh yes, a person who actually buys and sells property!
So, what do you do?
Figure out which job functions you either don’t like to do or aren’t good at … and pass out the hats! AKA learn how to outsource effectively. That’s how you’ll gain your life back. That’s how you’ll gain the freedom you seek.
But to learn how to outsource effectively, first you must get control of your time.
Here’s a great way to get started: Keep a log of where your time goes. Write down everything that you do (even the little things) and the time that it takes you to complete the task. Pay particularly close attention to the tasks that you feel drain your time and energy. Commit to doing this now.
After keeping your log for a week, sit down and review your results. Knowing how you spend your time is part of gaining control of your time. And once you’re in control, it’s time to outsource.
You may be pursuing your passion in real estate investing, but I doubt your passionate wearing every “hat” in your REI business. And fortunately for you, you don’t have to when you learn how to outsource effectively.
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David Oswald (aka ‘The Diamond’) is a real estate investor and expert in time creation. Check out David’s great real estate outsourcing and time creation tips.
Category: Business Management Systems and Tools, Personal Development
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David,
I’d like to get some info on who to outsource my tasks to. That could be a full time job in itself if you have to go through a huge testing to figure out who will do a good job.
.-= Scott Costello´s last blog ..Better Your Productivity: To-Do Lists – Part 1 =-.
Scott,
Drop an email to [email protected] with the things you are looking to outsource, and we’ll give the proper resources.
David
Thanks for getting back to Scott, David.
If you guys and gals have any more questions for David. Toss ’em in the comment area.
~ P-Rid
Fantastic post David and Patrick! I couldn’t agree more about the outsourcing. Julie and I have started to outsource more and more and more over the past year or so as our business is growing at a much quicker pace…and it would not have been able to unless we did outsource!
I love the idea of tracking your time…Julie has been pushing me to track my time to not only outsource some of our tasks, but also to use as a tool to explain and show to our JV Partners the sheer volume of work we do for them.
Thanks for your timely post!
Cheers