How can a simple, 3 step Leverage Formula help you make more income this year, than in the last 5 years?
Answers below, and how you can double your income in your [property] business.
So you know that no one gets into property for another full time job – yet most people end up creating one.
And a lot of people turn to property investing because they see it as the vehicle to change their current results, without looking at changing the habits that created the old results in the first place.
If you can relate to either of these, or having growth issues in your portfolio or business, or trying to hire and delegate only to be let down, or never finding anyone in an important role that can do the job properly, or as well as you…
And you end up doing other people’s jobs yourself, and then you get more and more busy, and then you make mistakes, and then you get stressed, and then you wonder where all the free time and financial independence went…
Then this article could be just the things you are looking for. And it comes in a series, so keep your eye out for the next instalments…
Every successful person that I’ve met goes through the painful transition of trying to handover the work they’ve always done to scale up their business. No man is an island.
And their results end up being dictated by whether they get through the other side of this transition, and leverage people…
Or they take more work on themselves, and slip back into exchanging their own time for money.
Have you ever wondered why Bill Gates or Richard Branson can make multi-billions? Do they have more hours in a day? Do they have some accelerated learning technique you don’t know of or a super-human Mark Homer brain?
Well think about this – from a wealth perspective, what’s the difference between a one man hairdresser cutting hair for £10 a cut, and Bill Gates who has employed over 50,000 people?
Even Edward Scissorhands could probably only do 10 cuts a day – £100 a day income on time. And even if Bill Gates only earns £1.00 in the same timeframe from his 50,000 employees – £50,000 a day income.
If they had stuck to doing everything themselves, then they would still be an overworked and underpaid one man paid Hairdresser or the like.
So you get that part and that whatever [property] business you are in, this is the way to scale and earn more, in less of your own time, and with less stress and frustration.
And this is what the world record holder for retail sales did, as an e m p l o y e e!
This is the way to create more time without more hours in the day, and the extent to which we are [financially] successful is directly linked to how we utilise leverage [the same rule applies for leveraging contacts, money and systems]
It’s actually the shortest route to wealth and freedom, the path of least resistance, the non get rich quick get rich quick…
So why doesn’t everyone know and do this?
I’ve personally coached many thousands of Progressive Property community members, looking into their eyes and feeling their resistance to change, and I’d have to be an idiot not to see the common obstacles that hold many people back.
Fortunately I work with high achievers, and you are a high achiever too.
Yet because they are smart, convincing them that they need to personally do less to get richer is very hard for them to get their heads around. It goes against how they’ve been brought up [by working hard], and a lot of un-learning of old habits is needed.
I don’t know if you can relate to this?
So as hard as it often is, here is what I tell our community members, and here is what the successful ones do, and you can too –
But before I do, you’ve probably thought about this many times. Possibly even been through it yourself. Possibly taken one step forward, 2 steps back? Or gotten so busy, like the world record holder for retail sales, and been at that fork in the road –
The fork that dictates all the results from here depending on which path you take, so:
Outsource before you are ready. Whatever you can pay for to save yourself time, do it, because focusing on small economies is the fastest way to get poor. Any small task that brings in less revenue than your actual hourly worth will step you back. You will get richer by paying someone else to do those things, even if you think you can’t afford it.
It is the small revenue generating tasks that are worth less than your actual value that repel the vast sums of money, waiting to be taken by doing highly leveraged, income generating tasks – viewings, offers, relationships with Agents, vendor negotiations, personal training and education, visiting auctions, meeting JV partners…
I understand – it feels painful.
Joe Girard, the sales world record holder, got so busy that he had virtually no life, going from 267 cars to 330 odd cars in a year. Yet when he hired help [as an e m p l o y e e!] he doubled his car sales in the next year, with less of his own time.
I’m constantly telling people that I wished I had outsourced more, sooner, faster. I was holding back my wealth that was staring me in the face for so long, I must have been blind. 27 years of ignorance, and the guilt of having others do things for me – crazy to think about that now, right?
Get used to getting other people to do things for you. Don’t manage properties yourself, the opportunity cost is huge. Get a VA doing all your admin, pay for cleaning, dry cleaning, meals out, drivers; anything that you can free and buy back to spend on high value, income generating time. £20,00 per hour time.
The richer you get, the more money you’ll spend buying back and freeing up your time, and it will make you millions. Or even billions. Remember me when you get there
So right now Gemma is at home cooking the dinner and cleaning the house. Bobby is watching Golf DVD’s in training for being world no.1 so that he can fund his Dad’s retirement, Ralph our Westie is putting some shelves up and Mark is at the office running the business while I’m in cloud Cuckoo land