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THE ROOKIE PLAYBOOK

 

Growing a real estate business is a lot like growing plants: A small plant doesn’t need much to grow, but its demands rise exponentially the bigger it gets. This is why a lot of businesses can have a big growth spurt but end up being forced to scale back down because the growth was not sustainable. Scaling up may be expensive but being forced to scale down is costly.

Today, Don and Ryan share their secrets for achieving real growth in their real estate organizations and the strategies they use to expand their businesses. They share their insights into what any business owner needs to have to scale successfully as well as the type of challenges they have to be prepared for. They also discuss the different departments your business needs, the kind of spreadsheets you should be using, and how to determine how much one deal can cost you.

“Every dollar you invest matters, whether it’s going to be in marketing or hiring personnel.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

  • The five departments your business needs to focus on to achieve sustainable growth.
  • Why phone calls need to be answered live, no matter what.
  • Why Excel works for businesses in transition.
  • The numbers you need to know so you can scale successfully.
  • Examples of how costs are broken down for leads, calls, and contracts.
  • The differences and similarities between veteran and new real estate investors in the industry.
  • Why learning how to run a real estate business is a lot like sports.

Key Takeaways:

  • Everybody sitting on the fence waiting for a perfect moment is getting passed every single day by people willing to trust themselves and take risks.
  • If you’re not tracking things, you could be aimlessly throwing dollars down the drain.

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Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don’t forget to tune into our other shows: FlipTalk’s Rookie Play Book and FlipTalk’s REI Round Table. Share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry.

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