Am I Really Running My Business Efficiently?
By Paul Esajian on November 20, 2015
It may be easier than you think to become complacent in the world of real estate investing. To that end, complacency can ruin a business faster than almost anything else. The key is to stay on top of your business, and make sure it is running smoothly. Remember, just because things are going well, doesn’t necessarily mean they will stay that way. Before you become complacent, ask yourself these questions:
- Am I really running my business right?
- Is my business sustainable?
- Am I investing safely?
- Will I still feel this spoiled and bored if the market changes?
If you answered “no” to any of these questions, it’s time to face them head on.
Automation
If everything is going pretty well, but you are still working 20 plus hours a week, then there is still room to automate. You aren’t completely financially independent and free until you no longer need to put in any hours at all. So who can you hire, or what technology and systems can you put in place to finish automating your finances? Is it time to move more of your cash into turnkey real estate investments so that your income and wealth building are 100% on autopilot.
Bulletproof Your Portfolio
Making a million dollars isn’t that hard – relatively speaking. What is a lot harder is keeping that money. How can you improve protections so that you won’t have to start over from scratch? Do you have more than enough reserves to weather any downturn? Does it make sense to refinance any debt while interest rates are still low? Should you be focusing on paying off and clearing out personal and business debt so that you can survive on less cash flow?
Grow Your Operation
If you have smashed through and exceeded your annual goals with ease, why not set bigger ones? Whether you are already doing four deals a month, or 100 deals a year, you can still do more. Why not go for a new record in your niche?
Find More Ways to Use That Money
If your “too easy” mindset is based on having a surplus of cash and income, why not find more causes and better uses for surplus funds. Then you may find more motivation to challenge yourself to go bigger. How about starting a philanthropic foundation, supporting charity, building local parks and libraries or community buildings, affordable housing overseas, or emergency housing for disaster response efforts. If you are great at generating and directing funds, and real estate the world needs you in many ways. There are billions of individuals that could use your help.
Blend Your Hobbies & Real Estate
Assuming that you have some life out of real estate, why not find more ways to blend those hobbies with real estate. Now you are wealthy, have more time, and don’t need to demand such deep profit margins how about designing properties which you are really passionate about. Why not your own golf course community in Florida, artistic architecture, pushing the boundaries of sustainability, etc.?
Teach Others
If you are at the top and simply can’t go any further up, then why not teach others? That may now be your highest and best use. There are organizations and systems that could use more real estate coaches to teach and mentor others that are still learning the ropes. Why not help?
Summary
Real estate is not always as easy as some think. For others, it really can become easy with the right systems put in place. Yet, there are always ways to challenge yourself to do more. Take on something bigger. If you are not at this point yet, don’t worry, you can be. Just print this out and keep it in your pocket for when you arrive.