Growing Your Investment Business 10x
My coaching business allows me the opportunity to speak to entrepreneurs every day all across the country and learn and observe the best strategies for making money in the single family house investment environment.
A few of my peers are investing in apartment buildings. One friend has over 1400 units that he is managing all across the country. Another friend has just over 100 units that he has bought himself and is managing in his local market. There is an interesting paradox between the friend who has 100 units and the friend who is managing over 1400, and it has to do with the time spent on the business vs. the time spent in the business.
Although it doesn't sound intuitive, it's much easier to take your business 10x than it is to even just double your business. You see thinking in terms of 10x growth drops the reins. It forces you to think outside the box, outside what is just possible by becoming more efficient and reducing expenses---maybe making a few more deals per year. Thinking of your 10x business forces you to strike strategic alliances thinking in terms of whether this relationship is a 10x relationship. One of my coaches Dan Sullivan taught me that, and also said that when you can get your market to become the marketer, you'll be on your way to 10x growth.
Do you want to know which one works harder? The real truth behind my 2 friends is one of them works 50 hours a week and the other one works just 20 hours a week. Which one do you think works longer hours and why?