It’s before 8 a.m. this morning, and I’ve been up and going for an hour or so. There are plenty of actual early riser types out there… I am not among you! Not even close. However, I have made myself learn the importance of being up and after it in the morning, especially in a business when the timing of an offer, a meeting, or a call to a wholesaler can mean the difference between getting the deal and not.
Time really drives everything, for the positive or for the negative. We’ve all heard or said the excuses:
- “I don’t have time.”
- “I’ll do it later.”
- “When we have time, we’ll…”
- “I hope when I retire I can…”
- “I just can’t get to it today… I’m getting crushed.”
What is all of this about?
Why don’t I have time to get through all of the things I want to get through in a day, all the while not having the time I want with my wife and children?
It’s a frustrating place to be.
Within my business, we are working on 10+ doors under renovation or make readies right now, and that in and of itself is a calendaring and project management job. We hired a full time property manager in-house (more on this another day), and she has done an exceptional job of conquering tasks and to-dos and in helping jump on the operational side of our renovations for the make readies and the flip renovation projects, as well as the property management itself.
But underneath all of this was still my struggle to keep my calendar times, which I had already blocked out, including: gym time every weekday, lunch (not in a vehicle), getting into at least 4-5 houses a day, meeting with potential property management clients, and meeting with potential wholesale sellers. What is free time, again?
YIKES. My head is spinning just thinking about it.
The good news is, we have a lot of momentum in our business, and working with like-minded people is awesome. And doing something you love… also awesome!
But I’ve had to find ways to tame my calendar, make sure my wife is still happy with me, and have real time with my kids to play and enjoy their company.
Here are the things I’ve been working on.
3 Areas of My Business I’m Streamlining to Regain Valuable Free Time
Setting Achievable Objectives
If you haven’t set the objective, it’s hard to know what you are actually working towards. We set our criteria specifically for what we were looking to achieve, adding clients within our property management company, adding new internal rental properties, and growing our funding for deals with awesome and like minded funders to partner with.
Within these objectives, on a daily basis we are working to achieve the great goals long term and also meeting the needs of the short term goals. For instance, if we want to reach eight deals a month, that means I need to have two deals a week under contract, and then however many offers I have to write, and then however many more deals I need to look at as potentials to get there.
Creating Working Systems, Implementing Them, and Actually Using Them
This is an awesome one–and a hard one for me. I’ve been working solo for some time, so as our team grows, I also have had a learning curve with it. But what a worthy place to spend time. A great system is the engine behind the scenes. Without putting those systems in place, how would we know where a contractor is on a given day, which project is starting and stopping, which property we just put under contract, and which buyer just put that flip house under contract? We wouldn’t!
Having the goals is the first step, but once the goal has been set, how are you making sure you’re on track to execute that task with completing the steps to get to it? Systems, right!? HELLO! #thisisawesome
We are in the midst of getting these “running on all cylinders” (to keep with the car analogies), but it has really streamlined our process already for finding information, processing deals, and managing projects.
Streamlining My Calendar–And Actually Using It
I’m a huge Timothy Ferris fan, and I listen to his podcasts and have read all of his books. He has so many great things for email, virtual assistants, calendaring meetings, etc.
That’s all well and good, but you have to stick with it. Not to mention, the calendar schedule has to actually work, and you have to actual follow it.
So, I’ve been working on spending most of my morning directly on the acquisition side of our business, bringing in the deals, and then learning to pass them off to our team effectively. Sounds easy, but it has definitely been a challenge for me in real life.
Here’s the other thing. If you don’t have it scheduled, you probably won’t do it. And if you OVER-book your calendar, you probably won’t get it done either. Simplify the time, clarify your objectives in that time, and give yourself then the ability to complete the job at hand.
For me, that has meant laser focus on deals–and learning to pass off everything else. Systems, people, process, and making it work together.
Source: biggerpockets.com ~ By Nathan Brooks