Here's the big question I want to ask you today. Do you have a real business or have you just created a job for yourself? For most real estate investors, the answer is that they have just created a job for themselves. We like to think of ourselves as entrepreneurs, but are we really? I think the answer is no in most cases and here’s the reason.
Entrepreneurs or true business owners, organize their businesses for growth. They know from the very beginning they want to scale. A true entrepreneur knows that their job isn’t to do the work, it’s to build a company that does the work.
In almost every case, real estate investors start out as a one man show. That’s how they get their first few deals done. It’s the next thing that happens that will likely determine their future, and that is how quickly they start to build a team.
So how do you begin the process? You need to create a plan to fire yourself.
Here are some of the things we will cover in part 1 of this 2-part series:
- Do you have a real business?
- Who do I hire? W-2 employees or 1099 employees?
- Freelancers and virtual assistants; what’s the difference?
- The advantages and disadvantages of each type of person
- Should you hire only people that have the exact skill set?
- Why I think there are other things more important than skills
- The 3-step plan for firing yourself
Here's Your Podcast – Do You Have a Real Business or Have You Just Created a Job for Yourself?
In Part 2 of this 2-part show we are going cover how you begin to transition from self-employed (AKA “worker bee”) to business owner. You can listen to part 2 by CLICKING HERE.
Fire Yourself Worksheet – Get Yours Here!
Get your free “Fire Yourself” worksheet by CLICKING HERE. Be sure to get yours and fill it out before the next show. Everything is easier with a roadmap and it’s completely free so why not grab yours?
Tax Free Future
To learn more about creating a “Tax Free Future” just CLICK HERE
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Show notes points and the podcast it self was very engaging. Well done.Will keep up with your blogs.
Hi Sharon! I’ve looked forward to your blogs and podcasts since first finding you on BiggerPockets in 2013. Through the years you’ve been an incredible source of knowledge, insight and inspiration. Thank you for so graciously sharing your wisdom! This podcast is likely one of the most, if not THE most valuable I’ve heard yet! This is a game changer! Why? Because even though I’ve known for some time that I needed to focus, take the time and make the shift from working IN my business (overworked employee) to working ON my business, (business owner), I just wasn’t sure how to do that. You have provided me tools and a step by step way to create a plan I can implement. I cannot Thank You enough! Yep, this is going to change my life. 🙂
Thank you SO much for letting me know. It’s something we are all guilty of. Thanks so much for following me all these years.
Thanks for these valuable tips!
Real estate is a vast field and proper knowledge is necessary to avoid unwanted taxes as well as costs. Your blog is really helpful for people who are new to this field. Thanks again for sharing the insights.
Thanks for reading James.