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Build System Automation (Left Main REI), Process for Data clarity, Train COO’s and be a Cardiothoracic Surgical Nurse

April 17, 2021 By Steve Leave a Comment

Stephanie Betters discusses how using the right systems to process and manage your data can both free up your time and make your business more profitable. It may even give you enough time to be a cardiothoracic surgical nurse on the side…. Build your system automation process for data clarity and more profits in less time.

Video Replay of Interview with Stephanie Betters:

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Want to close more deals without spending any more money? Go to https://www.disruptors.com

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Find all our past interviews on https://www.realestatedisruptors.com/interview-archives/

Show Notes: Coming soon

Transcription: Coming soon

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Filed Under: Interview, Podcast, Wholesale Tagged With: automation, Left Main REI, leftmainrei, processes, real estate disruptors, real estate investing, real estate marketing, real estate podcast, realestatedisruptors, realestatemarketing, stephanie betters, stephaniebetters, steve trang, stevetrang, systems

Where Did Your Customers Go?

March 10, 2021 By Steve Leave a Comment

You finally closed that deal. Whew. Go deposit that check and on to the next one, right?

Where’s the next one?

The pipeline is dry.

You’re starting from scratch.

Crap.

Why Your Leads Run Out

It’s hard to build a real estate wholesale business (or fix and flip, buy and hold, etc.). In the beginning, you’re doing everything:  marketing, cold calling, contracts, closings, problem solving, and the list goes on.

So why is it such a roller coaster? Why does everything seem to come in waves?

Because you’re not being consistent. Specifically, you’re not being consistent with your marketing and acquisitions.

What tends to happen with new business owners is the Business Cycle:

  1. You don’t have any properties under contract, so you spend time on marketing.
  2. You get leads coming in, so you spend time cold calling.
  3. You get seller appointments, so you spend time going to those.
  4. You get a deal closing, so you spend time making sure it closes.
  5. You close the deal, and realize you haven’t spent any time on marketing.
  6. Go to Step 1 and start again.

Sound familiar?

Why Consistency Matters

You may feel like you don’t have time to consistently market or call leads. After all, you’re super busy taking appointments, or finding buyers, or solving seller problems, or whatever else.

The truth is you have to MAKE the time or you will never get beyond one or two deals at a time. You see, it’s the marketing and acquisitions (cold calling and following up on leads) that builds your business.

Without consistent marketing, you set yourself up for a huge outflow to potential sellers, these sellers respond, you contact them and follow up. If you don’t follow up in a timely manner, they probably move on to one of your competitors.

More Isn’t Necessarily Better

Let’s say you’re doing direct mail and you’re dropping 10,000 postcards this week. Your next drop won’t be for another two months.

You don’t have the money to drop 10,000 postcards every week, or even every month. After all, marketing costs money.

So don’t ADD more expense. Rather, try spreading out your mailings. Instead of having 10,000 postcards go out and then trying to follow up on all those leads for two months, why not drop 1,000 postcards this week, 1,000 next week, and so on?

Now you have done several things to your advantage:

  • You spread out your marketing costs, spending 1/10 per week
  • Customer responses come in regularly over two months instead of all at once
  • You have more time to follow up on the leads sent out that week
  • You have consistent marketing, so you generate consistent leads

Build From Here

The biggest advantage of this approach is that you have time to devote to each area of your business:  Marketing, acquisitions, dispositions, and so on. After a few week lead-in, you have regular outflow of marketing, inflow of leads, a manageable number of appointments, and consistent closings.

So from here, it’s easier to scale up. Increase your marketing from 1,000 per week to 1,500, for example. You also will have more regular cash flow, allowing you to plan your marketing and perhaps hiring some administrative help.

Get your processes under control and working consistently week-to-week, and you will soon be able to grow and expand. We can help you get all that organized, systematized, and running. www.disruptors.com

Filed Under: Blog Tagged With: leads, marketing, real estate disruptors, steve trang, systems

Why You Need Systems

February 8, 2021 By Steve Leave a Comment

Even if it’s just you

Systems Work Together

Everyone talks about implementing systems, but do you need them?

Do I have the time to find or create systems for my business?

What will systems do for you, especially if you’re a one person shop?

Systems can do everything. If you like making your life easier, that is.

What Is A System?

We hear people talk about systems (or processes) all the time. But what is a system?

Systems create specific steps to follow in performing common tasks. They may automate tasks, or provide specific directions to someone. These tasks may occur every hour or only on occasion, depending on the task. For example, you may have a system for sending data to your dialer to start cold calling. This may be used every day you or your team is cold calling, such as every work day. Other systems may be used infrequently, such as hiring a new employee.

All the steps necessary to complete a process should be in the system. The entire purpose of a system is to ensure nothing is left out and that the task is completed as efficiently as possible – you don’t want to forget to deliver a signed contract to the title company because you left that step off of your system.

Automation

Taking routine tasks and putting them on autopilot is an excellent reason to use systems. Manually combing through foreclosure lists is tedious and time consuming, but having software or a service that sifts it for you both maximizes your time and ensures it is done timely and as error-free as the data allows (there can always be data errors beyond your control).

Doing repetitive tasks over and over gets boring, and it increases the likelihood of errors. Creating systems for making calls, scrubbing data, preparing closing documents, hiring employees, and so on frees up your time and lets you focus on revenue-generating activities.

I had a conversation about systems with Terry Thayer on my Real Estate Disruptors podcast (you can watch it for free on YouTube, Apple Podcasts, or my website www.RealEstateDisruptors.com). Terry used to work himself ragged as a general contractor doing fix and flips, buy and holds, renovations, and other real estate work. A 70 or 80 hour work week was a slow week for him. He didn’t get to see his wife, his kids, take vacations, or enjoy the fruits of his labor.

Then Terry discovered the power of systems. He stopped being a contractor and became a real estate wholesaler. He spent a year finding or creating various systems for his business, everything from finding sellers to hiring employees. By implementing those systems, Terry now works about five hours a week and makes over six figures a year. He even has a hiring process which hands him solid, qualified candidates and has cut his time spent hiring a new employee to two hours. 

Systems Are Important for Solopreneurs, Too

Being a solopreneur (the old “me, myself and I” running the business) is hard. There’s no one to help you; no one to catch your mistakes or remind you to do something. Sifting through seller lists, parsing skip tracing results, dialing telephone numbers in cold calling, knowing which offer was sent to whom and needs follow up – all things that need to be done, but take a lot of time away from doing other things.

Make these tasks accurate and reliable by implementing systems. How many times have you tapped the wrong number when calling someone? Missed an important piece of information is a large spreadsheet? Spent 20 minutes hunting for that contract because it wasn’t placed in the proper folder?

Systems are even more important for the solopreneur, because you can’t afford to miss things. You don’t want to kill a deal because you forgot to order title work, for example. As you grow and hire employees, you can easily hand off systems to the new people. Things don’t massively change because someone else has a different file organization system (or lack of one). You’re basically plugging them into the system, but the system keeps running and doing its job.

Keep It Consistent

Good systems work regardless of who is sitting in that job’s chair. If your acquisitions success rates change every time you hire a new salesperson, you don’t have a system, you have a free for all. The wheel is being reinvented every time someone else is in the acquisitions seat. You need to have a consistent method that anyone you hire can use and keep your successful processes working. 

Once you have successful systems in place, you make life easier for your employees. They know what to do on a daily basis; there’s no guessing about how to accomplish duties and meet established targets. You can easily determine who is doing their job, and who is not.

Having systems also gives you the ability to diagnose what part of your business is failing if your KPIs drop. Is marketing still going out? What are the responses? Are acquisitions making enough calls each day? Are contracts being signed? If not, why? Systems make it easy to find out who is not following the system, and correct the problem. Check your systems, and see what is clogging the pipeline. Clear the blockage, and the system operates smoothly again.

Find Systems or Create Your Own?

Creating your own system may sound appealing, because you can make it be exactly what you want. However, creating a system from scratch is time consuming. I recommend finding existing systems (e.g., software, developed hiring processes, etc.) and adapting them to your business’ practices. You will save a lot of time, and likely a ton of headaches too. This approach may cost you a little more money than if you created your own system, but it is more important to get a system in place than it is to save a few bucks here. Later on, if you’re not happy with your choice of system, you can change it up or create your own. You will have more time later, once you get your systems up and running.

It’s never too early, or too late, to implement systems. Remember, systems are just tools to help you get things done faster and more accurately. That’s all. Don’t get hung up on who uses what system; find what works for you and get going.

The faster you get systems implemented, the faster you gain time and the more successful you will be.

Filed Under: Blog Tagged With: processes, real estate disruptors, real estate investing, real estate podcast, steve trang, systems

$100,000+ per Month Working 5 Hours per Week. Terry Thayer Shares How He Went From Contractor to Building a Real Estate Empire.

February 4, 2021 By Steve Leave a Comment

Terry Thayer talks about starting off working for his dad, starting a construction company, and getting into flips and buy and holds. Lost everything in 2008, and started anew in 2012. Terry builds, flips, builds, and finally wholesales.

Video Replay of Interview with Terry Thayer

Sign up for our free wholesaling course: http://www.disruptorsu.com

Want to close more deals without spending any more money? Go to https://www.disruptors.com

Follow me on IG: https://www.instagram.com/steve.trang

SHOW-NOTES-100000-_mo-Working-5-hrs_wk.-Terry-Thayer-on-How-He-Went-From-Contractor-to-Real-Estate-Empire.Download

SHOW NOTES

$100,000+ /mo Working 5 hrs/wk.  Terry Thayer on How He Went From Contractor to Real Estate Empire

With Terry Thayer, TAB 

February 3, 2021

About Terry Thayer

Terry Thayer is a recovered general contractor who used to burn the candle until it was a molten puddle of wax. He managed crews of carpenters, drywallers, plumbers, etc. and had to take up any slack they left behind. Until one time at a seminar he attended opened his eyes to the world of systems. 

Terry promptly went home, fired his crews, and spent the next few months building a real estate business based heavily on systems. What he couldn’t find from someone else, he put his head down and figured out himself. Now he manages his business from afar, with a heavy emphasis on training and practicing for his employees. Even his hiring process is highly automated and systematized, reducing his time to hire a new employee to two hours. 

Terry also created the TAB (The Absolute Best) Retreat, a networking and educational event for entrepreneurs looking to improve their businesses and their lives.

Connect with Terry on Instagram at @terrythayerii or Facebook at terrydthayerii. You can find more information on the TAB Retreat at www.tabretreat.com. 

Show Notes

Terry shares his history with Steve about how he went from working 70-80 hour weeks to just 5 hours, and most of that is training with his employees. He explains his epiphany and development of systems which permit him to make six figures a month while only working less than a standard work day.

Top 5 Takeaways from Terry:

5.  Life is too short to do everything yourself.

4. One of the best ways to find properties for sale is to ask neighbors in the area where you have a house. Often they can point you to a homeowner who may want to sell.

3. It’s OK to take a day off. You’re not weak if you do that, but have your systems in place so that your business can run with you not there. If you’re a one person shop, your systems will allow you to pick up right where you left off without having to figure out what the status is. 

2. If you think you can’t afford a coach, you can’t afford to NOT have a coach. Getting a good coach will make you multiple times the money you spend on one.  

1. Find good systems and plug them into your business. If you can’t find a system, put your head down and create it. Running your business with systems will make life much easier, require you to do less work, and your business much more profitable.

Bonus Takeaway:  It is never too early to implement systems into your business. Even if you’re a one person shop, putting systems in place will drastically reduce wasted time and set you up for future benefits when you do hire.

About Steve Trang

Steve Trang is the founder of the Real Estate Disruptors movement and host of the Real Estate Disruptors Podcast. He started his podcast in the middle of 2018 to inspire wholesalers and real estate agents to double their incomes by adding a second leg to their business. The podcast has now grown to ten thousand followers with new members of the community sharing their success story every week.

Steve’s goal is to create 100 Millionaires. One of his favorite quotes is from the great Zig Ziglar: “You can have everything in life you want, if you will just help enough other people get what they want.” He heard this quote when he first got into real estate, and it has stuck with him throughout his entire career. In fact, it’s essentially one of the core values Steve lives by.

Connect with Steve at linkedin.com/in/stevetrang, facebook.com/stevetrang, instagram.com/steve.trang, stevetrang.com, or realestatedisruptors.com.

Transcription:

TRANSCRIPT-100000-_mo-Working-5-hrs_wk.-Terry-Thayer-on-How-He-Went-From-Contractor-to-Real-Estate-Empire.Download

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Filed Under: Interview, Podcast, Wholesale Tagged With: real estate disruptors, real estate investing, real estate podcast, steve trang, systems, terry thayer, wholesale, wholesaling, work less

So You Want to Own Many Businesses….

December 10, 2020 By Steve Leave a Comment

Sounds like a great idea — start a bunch of businesses, hire people to do the work, and rake in the money. I might have to do that.

Only there’s a catch (of course there is):  you still have to run them, put out all the fires across multiple organizations, hire the right people, and not go insane in the process.

That’s actually a whole bunch of catches. You threw your net kinda wide and caught the motherload.

It Looks Simple, but…

That view from 30,000 feet looks pretty simple and serene. Running multiple businesses can exponentially increase the demands on your time. Not to mention the plethora of headaches when a problem in one business actually causes problems in the other ones. Nothing like one problem becoming five, right?

Obviously running multiple businesses can be done. After all, we have all seen people who manage it and make it look easy (at least in public): Elon Musk, Richard Branson, Warren Buffett, just to name a few. 

So how do they do it?

Organization

They have learned to organize their businesses. They have developed systems which they can plug into any business and get it running smoothly. They have systems and standards for evaluating talent and hiring people.

But first they learned how to organize. Delegate. Develop a method so they can offload the work that they don’t like or aren’t good at, specifically so they can spend time doing their genius work.

Organize. Some of us don’t like that word, or the structure it carries. Yet this is the key to growth; the key to expansion. It is the only way to remain sane when you start adding companies like pairs of shoes or cats. If you leave the shoes lying around everywhere, you’re going to trip all over them and ruin them. Same thing with cats.

How to Start

As the business owner, you have a vital purpose — that thing which you are really good at and which is most valuable to your company. Now in the beginning, you may have to do everything. That’s not a bad thing, because you need to know HOW to do everything. That’s necessary, because initially you will be the person who trains new hires. 

As you grow (and growth can occur fast), you must hire the right people who can do the job and who like doing the job. This is where systems come into play. Don’t just hire willy-nilly. Get a hiring procedure which does a proper evaluation of your applicants so you can weed out those who don’t fit your culture or have the work ethic/qualifications/abilities you want. You will save time in the hiring process, and you will have far fewer mis-hires that you have to fire later on.

Put other systems in place to handle other areas:  customer acquisition, marketing, HR, etc. And the more you can both automate and delegate these systems to other people, the more you can shed those work items that aren’t your vital purpose. 

Use Tried and True Systems

Don’t start from scratch trying to design your own system. You don’t have time for trial and error management. Find proven systems and install them. They may cost you some money up front, but they will save you many multiples of that amount down the road. Wasting time and hiring the wrong people are the most expensive mistakes you can make.

As you add businesses, you implement the same systems in each company. This way everything operates the same in each organization, and you don’t have to worry about it. Spend your time doing top-level activities and hire employees to run the other parts of your companies.

New business? Rinse, repeat. You may need some tweaks to the system depending on the specific requirements of that business (such as licensing, permitting, etc.), but the main form of the system should be the same.

This is where scalability comes in. Implementing repeatable systems creates time. You can’t scale up without time to do the work.

As your businesses grow, delegate more to other people. Then your time is spent on high value activities. And the more you can do that, the more you can grow.

So get organized NOW. Implement proven systems to your company, and you will be amazed at the time you save.

Need help? We have many programs to help you get organized, including exact systems to run your business. Check it out here. 

Filed Under: Blog Tagged With: management, multiple businesses, multiple companies, organization, real estate, real estate disruptors, real estate marketing, systems, wholesale, wholesaling

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