Ever struggled to go to the next level in your (property) business?
Feel like you can never find good people, or trust anyone in your business, or can’t afford them? Or you don’t know when to hire them, or if you have time to manage them, or how you could ever step back and still make good money?
Then the Progressive S.L.A.P.P.E.D model will help you. But like anything, to know and not to do is not to know . This process is about creating the ‘systems’ that will enable you to take one step back.
- You guide the ship, you create the vision and lead your team there, and they work hard for you.
- They believe in you and they become successful making you successful.
- Most of us don’t go into Property because we want to be a full time employee of Property at 60 hours a week. Or because it’s what we love. We’re doing this because we understand the lifestyle that it can give us; it is a means to a destination.
If you ‘systemise’ your business [model revealed in a moment] and everything you do is documented, you can take a 3 week holiday in Marbella and leave any one person in charge of your business with simple instructions while you sip Pina Coladas and smoke Havana cigars.
Right? Well yes, actually, but you have to build it and you have to earn it, through the management of other people’s time.
Here are 7 highly effective ways to own your portfolio and your life, so it doesn’t become another full time J.O.B, and it serves your desired lifestyle. (This is applicable to any business)
The S.L.A.P.P.E.D model
Scripts
Create written ‘how to’ documents for each process in your property business. How to speak to the vendor on the 1st call, and one to one in the house meeting.
How to introduce yourself to JV partners. How to sell your deals that you package to your customers. It’s not impersonal, it’s taking the things that work, and implementing them systematically.
Leverage
People. Time. Money. Contacts. Contacts of contacts. Systems. The more these things are working for you, according to your vision, income and leadership, the more man hours the world is giving you, subsequently reducing yours.
Automation
Software. Diaries. Email marketing & contacts. The more automated your business is, the less it requires you or other human resource. Costs will be low, and efficiencies and margins will be high. And you’ll make less mistakes.
People
Despite the first 3, no man is an island. You work on your own, you’ll earn on 24 hours a day and no more. The more people do things for you and your vision, the more man hours you get out of the world, and the lazier you can become.
Procedures
What is the single best way of doing a task? What are the A-Z steps? How is it best to apply for a mortgage, sell a JV partner your proposition, manage your portfolio? Ensure all this is documented and can be easily followed and implemented by a ‘non-skilled’ individual.
Efficiency
How can you do the same thing in less time, at less cost, with more output? How can you save time? How can you ‘sweat’ an asset? Constantly analysing efficiencies creates efficiencies, and getting 5% better each time compounds to huge results.
People often get distracted or frustrated, and instead of looking for efficiencies, they start again, sliding down the snake to the start of the board.
Decisions
If you do all of the above, but don’t leverage the actual decisions, everything you leverage will depend on you to move forward, it will keep coming back, and you’ll just have more and more to do, despite setting up all the systems. Entrust people and systems to make decisions for you for ultimate freedom.
Start small and simple. Document everything you and others do in your business. Start in a word doc or in a notes doc in bullet point form. Or get your PA or VA to do it for you for even better leverage.
Think you’re not ready yet?
Imagine how big a task this will be 5 years down the line. Start with the end in mind, while you can, while it is easy, simple and clear, and you’ll never look back, except from your boat setting sail into the sunset filled horizon.
