Expanding any business requires a lot of capital, willpower, and people. Depending on how big or fast you want to scale, you can end up hiring more than a handful of experts who will help you grow your business. Hiring isn’t as simple as it seems, though, and there are a lot of factors to consider to make sure who you get for a specific position fits just right.
Today, Don and Ryan discuss what you what you need to know when building a team and hiring for the first time. They share their experiences when they hired assistants and managers for the first time, the errors they made, and what they did to rectify the problems they encountered. They also explain why experience is not always critical for new businesses.
“You don’t have to hire somebody who is experienced. Sometimes when you’re a newer business that’s the worst thing you can do.” – Don Costa
This Week on FlipTalk’s Rookie Play Book:
- Who their first hire was and why they needed to hire.
- Why experience is not always a necessity in a new company.
- What they learned from their first hire.
- Tips on how to know who to hire first.
- What to know before hiring for the first time.
Key Takeaways:
- You can make any role efficient and not that expensive if you can do more tasks yourself.
- The first hire can work out in some ways and not work out in other ways.
- There’s a commitment when it comes to hiring. Not only financially, but also mentally.
Rate, Review, Learn and Share
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.
Join the community of FlipTalk fans on Facebook and visit our website for even more content, information, and resources about real estate investing.