Tyler Smith is the founder of Skyslope — which recently sold to Fidelity National Financial (FNF) for 8-figures. In this podcast, he breaks down the exact formula for building a team.
- How do you know when it’s the right time to hire someone?
- At what point do you stop working FOR your business, so that you can work ON it?
- How do you hire the right person and start building your team?
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It all begins with the realization that you need to hire people, but not just anybody, GOOD people who are talented and will have the motivation to keep the backstage area of your business in tip-top shape. You can hire someone who has a great personality and who will laugh at all your jokes but if they do not fill the need you have, then it would be pointless. Remember that when you have parts of your business that aren’t working well, it devalues the trust your clients have for you.
Create a Plan
First, you need to know your numbers, know your goals, figure out how you want to get there and then strategically plan how you can get from step 1 to 10. Lay down a step-by-step plan for everything from marketing expenses to operational costs. By creating this, you can start building your business, including who you want to hire and for what specific role.
Hire for the Need and To the Need
Take a look at your business and find holes that need to be filled. What are the responsibilities that are falling to the wayside or are not up to snuff? Is your prospecting not as consistent as you would like? Is your transaction coordination paperwork messy? Are you neglecting your social media platforms? Figure out where your pain points are and find someone who has the skills that can alleviate that for you. A good rule of thumb is to hire your opposite, meaning, hire someone who is not like you. Someone who has an opposite set of skills and perspectives may be just the person to fill those gaps you have in your business. Determine what you need, define clear roles, find who would fit that role perfectly and decide what level of talent you want to buy.
Make the Switch from Realtor to Business Owner
If you say you don’t have enough time then you need to hire someone. If you are saying you don’t have the money, you need to think about the value of hiring the right person will bring to your business. You have to give up the things that are holding you back from success. You have to learn to delegate the responsibilities in your business because the time that you get freed-up by delegating goes to generating more revenue. If you are doing $10 an hour work, you are telling yourself that that is what you are worth.
If you are saying that you don’t have the time to train a Virtual Assistant then you need to look at it this way. Training someone to be responsible for specific areas of your business is like making a compound investment. Once you train someone on a certain responsibility, you will never have to do that yourself again, think of all the time you will have saved by taking the time to train someone.
See For Yourself: A Closer Look at Virtual Assistants
The popularity and acceptance of virtual assistants will grow over the next decade. It is estimated that, in 2020, 40% of the entire US task force are virtual professionals. Today’s use cases for these task-oriented professionals are vast. “Freelance virtual assistant services” will be one of the biggest industries in terms of employment and global revenue by the end of the decade.
“Outsourcing makes the hustle better — because you’re not burdened with many/growing expenses that you’ll need to figure out how to cover and hit profit”
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ENVISIONING OF A NEW REALITY FOR YOUR BUSINESS
Simply put, MyOutDesk equips entrepreneurs & business owners with tools, strategies, and virtual employees – and when combined, businesses have a competitive edge and find growth while efficient systems and processes are put in place.
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Did You Know? MyOutDesk’s origin story is set during the last global financial crisis of 2008. Yes, that’s right — our business started by scaling businesses with virtual assistants during a recession! Our first client in 2008 went from five to seventeen VAs with a completely revamped organizational model in short order, and he told MyOutDesk, “Our virtual professionals have shaved $250,000 off our monthly overhead.”
Schedule a Double Your Business Growth Strategy Session, and we’ll discuss with you the EXACT formula Tyler Smith used to build his business.