The Good, Bad & Ugly: How Scaleable is Your Business?

Is your real estate business scaleable? Does it offer room for growth? If you’re too focused on conventional management, the answer is probably “no”. Entrepreneurs need to grow alongside their consumers to see sustainable success in a rapidly changing market. In this episode, I emphasize why real estate entrepreneurs need to develop systems carried out by employees in order to stay up-to-date with market changes. However, in spite of the entrepreneurial desire to facilitate those systems, the ability to eventually step away is also imperative for a successful business.

 

3 Things We Learned From This Episode

A consumer-driven technology shift has made it crucial for the real estate industry to adapt.

To scale your business, you need to make sure the people working for you are running systems you’ve put in place, without you needing to be there.

Avoid spreading yourself too thin and “chasing squirrels”. Instead, place deeper emphasis on specific elements of your business.

 

It can be difficult for entrepreneurs to let others manage their business. Given the  sacrifices and leaps of faith required for entrepreneurship, this is understandable. However, forming a team that can operate independently allows you to take your business to the next level. The trust you should put into your team is the opposite of a traditional top-down approach, which can be daunting. However, as long as consumer-led changes show no sign of slowing, this is exactly what entrepreneurs must embrace in order to attain a success worth living for.