Is it Time to Grow your Team?

There are a lot of “solopreneurs” who do business on their own. They are by themselves for the whole time. They have been making things work but they have got to the point that it just doesn’t make sense anymore. It’s time to get to the next level where you’ll need assistance and support team. In this post, I will walk you through important steps to hire a team for your business growth.

Teams can be very impactful for the success of the business. They can help accomplish a lot. Sometimes it makes sense to have a team and grow the business. Sometimes it also makes sense to be on your own to a certain point. But, if you want to get to the next level, a team probably makes sense to grow.

So, here are six questions to determine whether it’s time to grow a team for your business or not.

1- Has your income plateaued?

Have you been working for a while and you haven’t seen an increase in your income? Are you still doing the same amount of business. You have to consider if there is something more to do.

Is there something holding you back that can get you to the next level?

2- Are you consistently missing your sales goals?

Are you setting goals that you aren’t able to reach?

At certain times, it is good to target bigger goals because it sets you up to the next level. But, if you’ve been trying to hit a goal that you haven’t been able to reach yet chances are that you have no free time or you are running too fast. Think about it.

3- Are there cracks in the system?

Maybe there’s an area where things are falling through. Maybe you are not getting all the contracts that you need. Maybe you are not meeting your deadlines. Or, you are not giving the necessary support to your clients. Check out the cracks that are in your system and see what you could do to make them better.

Maybe you don’t have enough lead generation sources. If you are doing all of it yourself that means all of your time is already booked and chances are you are missing some other opportunity. If you had a little help from someone you might accomplish one more thing. Right?

4- Are you working 10-12 hours a day?

Tell me, are you working continuously 12-15 hours a day? If you have been constantly pushing yourself 10,12,15 to 16 hours a day, seven days a week nonstop then it is probably going to wear you out. You have to able to get the personal time in your life. You have to take time out and do things with your family. When it’s your personal time, try to disconnect from anything else.

5- Are you tired or worn out?

At times you get drained due to the workload and continuous working. You still need to get rest. You still need to sleep. You need to be healthy. It all points back to how much time you have for all the other pending things.

6- You are not living the life you planned?

A lot of you didn’t get into real estate to become entrepreneurs that work 20 hours a day. The fact is, some people even make more money Monday- Friday from 8 am- 5 pm jobs but they want the freedom to make all of their own choices.

Remember, you didn’t start a business to have a job. You started the business to be able to do what you want, to be able to be free, make your own decisions and be able to live a life you want.

HOW TO GROW A TEAM?

So, by now you might have decided to hire a team or are thinking to grow your team to get to the next level. I wrote down eight positions that you can hire for in the next couple of months.

1- Buyers and sellers agent

The best way to double your business is to go double your listings. If you are doing 10 transactions a year and you want to get 20 then go find somebody else who can get more listing appointments. Maybe you are a listing agent and they are the buyer's agent. Decide what the next agent is going to be on the team.

2- Transaction coordinator

A lot of offices provide employees that you can hire on the basis of per listings. The transaction coordinator can run through your whole house with you so that you don’t have to do all of the work. Consider hiring a transaction coordinator who can confidently handle all the paperwork.

3- Listing coordinator

A listing coordinator helps to do business hand in hand. Having someone to do all the listing is definitely a huge support. The person has to organize all the photos, get the owner on board and prepare everything so it is ready to go. That’s a huge position.

4- Marketing coordinator

A lot of agents don’t know how to market their property properly. But, there are several companies like ours (The Orange Stack) that will help you market your listings. They also help market to find more buyers and sellers. Whether it’s postcards, social media, banner ads or whatever it is there is a good opportunity to outsource marketing efforts to somebody else.

Again, if you’re a person that enjoys marketing then you can simply hire agents to sell the real estate while you focus on building the business. However, a marketing coordinator can be of huge benefit to your team.

5- An operation manager

This is another awesome position. The operation manager is the person who runs things in a way that it looks more beautiful and smooth. The person makes sure nothing falls through those cracks and the systems are in place. You have to find out your personality traits and then hire what you don’t have.

6- ISA team

Having an ISA team is one of the most effective ways of marketing. A lot of people don’t like to be on the phone all the time so try to find a person who enjoys being on the phone. Somebody who enjoys doing phone calls and follow-ups. The one who loves rejections and is able to manage it. It can even be a VA (virtual assistant) in another country that gets on the phone and calls for a couple of hours.

7- Decide the outcome that you want

It’s almost 2018! what do you want from 2018? How many listings are you going after? How many transactions are you going to do? How big do you want your team to be? What are you trying to accomplish?

After setting the outcome, decide how you are going to plan that out? Whom are you going to hire first? What is the job description? Decide how you are going to hire them? What are you going to pay them?

8- Hire right

Someone told me this, ‘Hire slow, and fire fast’. You have to spend time and do your due diligence work to hire the staff. Interview them. Have them tested on a couple of projects? If it doesn’t make sense, get rid of them and move on to the next person.

Let us know your feedback. Do you have a team or what have you done to grow your team?