How To Scale Your Business As A Wholesaler - AIJ029
In Episode 29 of An Investors Journey, we go over How To Scale Your Business As A Wholesaler!
We recently sat down with a local wholesaler who we're currently partners on a flip. He was telling us how hard it has been to do more deals and scale his business.
So, we shared how we did it and how we are currently doing it.
It pretty much breaks down to 3 main steps.
Mindset- if you don't have the right mindset of why you got into this business then you won't make it.
Volume- you NEED volume to learn and grow.
Partnerships- you will need strategic partnerships in order to cut down you're learning curve tremendously so you can get to the level of success you want.
Once you have these 3-steps down then you can focus on scaling and growing.
You do this by replacing yourself in your current role and you replacing whoever your partner is that's where you want to be.
This looks a little like this:
You do lead generation and get them under contract. You also start learning the market.
You now partner with someone who can take that contract and make something out of it.
You learn from this person how to make something out of the deals you're bringing them.
Now you find someone to replace you in lead generation and you start making something out of the deals.
Here you partner with someone that knows how to flip them. You bring them the deals that make sense for them and learn the process.
Once you have done 5+ deals this way you replace them in managing the rehabs and get someone to make something out of the leads that someone else is generating. (the people that work with you should follow the same path)
Now, you know your market very well. You have someone generating leads, someone closing them, and you managing whichever ones make sense to flip. Here is when you start doing steps 5 and 6 with someone else.
Once they can handle step 6, you move up to different markets. In these new markets, you'll most like start back in step 1 to learn it better.
Rinse and repeat steps 1-8 until you can train someone to work with you on step 8.
All of these people have to be partners, not employees. They must care about it as you do.
If you have any questions feel free to reach out to jon@prymehomes.com
