Tag Archives: delegation

How a Virtual Assistant can put a little pep in your step. Part 3 of 3.

Family-Fun How a Virtual Assistant can put a little pep in your Step, Part 3.

This post will be short and sweet.

Spending more time with your Friends, Family and Yourself is good for you. You probably even want to do it, but you don’t have the time.

How much time do we need? Let’s focus on freeing up 2 hours per day. If we fall short of our goal even by half, who cares, that’s 5 hours freed up per week. Assuming you only work 5 days and we know Realtors do work more.

If you do hit your goal of working 2 hours less per day, that’s 10 hours per week saved.

That equals out to 2 lunch dates with your souse + 2 play dates with your daughters or boys + 1 Monday night NFL game out with the boys. You get the idea. Let’s just call it 10 more hours of actual life per week.

I don’t need to sell you on the benefits of a lunch out with your spouse (you know how happy that will make them). How about fathers spending more time with their daughters?

Check this out this book called Strong Fathers, Strong Daughters. The premise is that fathers are the ones who influence their daughter’s growth most. – A MUST read for fathers of daughters.

There are hidden benefits of spending time with friends too. Click here to read more on that.

So how do we achieve this using a VA? I would recommend writing down on a worksheet, what you do throughout the day today.

And here is a great delegation quiz for you as well. – Delegation Sheet

Delegation is the secret sauce.

Take notice of what only you can do and what can be handed off. Most of us – Including myself, only do 2-4 hours of actual high impact work everyday, on a good day. The rest is wasted time.

As you get into this practice of logging your tasks and what you do, start reviewing it in the mornings. Think about what your day would look like if you just spent the morning delegating and handing things off that you normally do yourself.

This process of delegation is awkward in the beginning but practice does make perfect. It will not be long before you get the hang of this process, so stick with it. It will pay major dividends for you soon.

Most people I talk with say to me, “I don’t know what a VA can actually do.” That is the wrong question to be asking though.
The question to ask is – “What can’t my VA do?” Assuming they can’t do much is just an easy way out from taking the time to train and delegate.

Fun Fact: Did you know that Jack Welch, CEO of General Electric spent up to half of his days just following up with his staff? It seemed to work well for him. His quote, “You build the best team, you win”.
http://www.entrepreneur.com/article/224604

I will take his word for it. During his 20-year tenure, he increased GE’s company value by 4,000%. Not too shabby.

Spending the first hour or two of your morning delegating off to your Virtual Assistant can and will save you all the time you need to put that pep in your step.

If you need help, feel free to contact us. Helping Brokers achieve their goals is what we do at Cutyourpayroll.com.

How a Real Estate Virtual Assistant can help you grow your business and your days off. – Part 3 of 3

adult-adhdHow to outsource: Routine Tasks

This week’s final piece is going to be the shortest on the subject.

I want to apologize for my delay between posts here. I was on an extended trip over the past two weeks and to be honest, I was working too much back home and just decided to “cut the cord” for the trip.

In our last post, we talked about outsourcing our phones. Another major win and step towards your goal of working smarter not harder.

Prior to my most recent two week bug-out, I realized I was working way too much. I was spending large amounts of time behind my laptop just trying to grow my business. (Sound familiar?)

So, I set a goal for myself – Cut my “behind the laptop time” by two hours every day. Sounds tough right? To be honest, it was. The following week, I took note of my routines. What I found was that I could cut about two hours of laptop time by outsourcing tasks that I did daily.

As a CEO, there are certain things to check daily to ensure our marketing efforts are on track. Removing that process of logging into a website and checking the data and recording it down was where I started. I realize your business is probably different, but this article is just meant to inspire you.

Put a note above your desk or above your laptop (somewhere that you will see it at all times). The note should read – “Am I the only one that can do this? Am I being efficient rather than being effective?”

Here are 3 example videos of the recent personal assistant I hired for myself below. The videos may be a little like watching paint dry, but again, they are just to inspire you. Anything can be taught when you are using a training video to teach your VA. I would share the entire library of his training with you, but there’s some Non-Public information in the other videos.

If you have any questions about how to create videos like this, drop me a line at dkeltner@cutyourpayroll.com . I would be happy to teach you how to do this. It’s ultra easy to do and takes little time.

Example Task video 1.
https://www.youtube.com/watch?v=Rd8Jaka_ldQ

Example Task video 2.
https://www.youtube.com/watch?v=B-4rqz0DthY

Example Task video 3.
https://www.youtube.com/watch?v=OpqaSz0LoRQ

If we created 10-20 videos like this that save us an average of 5-10 minutes each, that is 1 to 4 hours per day saved!

In Closing:
Here was an excellent video about meditation by iconic entrepreneur, Russell Simmons. It’s an hour long, but you simply must watch it!

https://www.youtube.com/watch?v=4NHuXUXBZDo – Warning: Intelligent content but it is Explicit.

In it he says, “If you can’t find 5 minutes to meditate, you need 20.”

This is my message to you as well. If you can’t set aside 5 minutes per day to create a training video for your virtual assistant, you need to set aside 20 minutes. Meaning, if you can’t find 5 minutes to train your staff daily, you have some major problems.

Still here?! Share this article with whoever you think could use it.

Thanks!!

Daniel

Team building for dummies

The only thing in your way to Income Automation is you.

This week, I want to teach a concept from the Gary Keller book, “The One Thing”. In Gary’s book, he talks about how we are pulled in many directions every single day. We water ourselves down and don’t do anything well. “Jacks of all trades, masters of none”. Gary teaches us to focus your energy on doing one thing very well as the smart income boosting alternative.

Question:

How involved do you think Lebron James is in the marketing of his brand? Not much. He does one thing really well – playing basketball. As long as he practices his one thing, every day, things seem to fall in place for him.

Back to us and reality:

Most of make a living by doing one thing better than most people. My “One Thing” was to create a high-volume / home selling system via a team. That’s what I sold to large banks and institutions that had that need.

Our team consisted of several tasks and missions. It wasn’t possible to build a team/system that relied on ME to be a “bottleneck” between our clients and the rest of my team. The team had to be efficient, effective and autonomous.

To start however, I had to do as much as I could to generate enough work that I just couldn’t handle it anymore.

Then I had to build a team to handle all the work (one person at a time). We did not have much work/clients/leads at first, but we had just enough to keep an assistant busy and learning. As I was able to hand off more and more tasks, it freed me up to chase bigger and better clients.

We landed those clients as well as branched out into other areas, but it would have not been possible to grow without the assistance and support of my team.

Getting Started and Building YOUR Team:

You have to think about all of the things you know. (Known-Knowns as Donald Rumsfeld calls them).

Here is an example of the planning that goes into it. We have to make a few assumptions as well based on very educated guesses.

Here were my known-knowns.

  1. I knew there was enough transactions existing in the market for us to fight over.
  2. I knew that if we over delivered and serviced people very well, we would get referrals and word of mouth marketing. Know what they want too.
  3. Lastly, I knew that if I increased my presence and could get in front of prospective customers (asset managers) we would get more business that way.

Here were my assumptions.

  1. If we could do 5 sales every month, we could pay all staffing costs and expenses. (We averaged 25 sales per month for 7 years)
  2. If we could maintain this for more than a year, I could eventually write myself out of the day-to-day business and leave it to my staff. (This one actually took me closer to 5 years – due to my own fault and shortcomings, *sigh* If I only knew then what I know now.
  3. If I could get down to working a few hours a week, I could start another location or another business. (We did both)

We want to own the business, not be a CEO slave to it. The one thing that pops up over and over again is that if we are to succeed we must do one thing really well. The goal is to build a business and get out of being a CEO.

We must be good at building a team or become good at building a team.

I can appreciate that not every one wants the responsibility or tasks of building a huge multinational global powerhouse corporation. I used to want that as a kid and now I don’t. I learned that it involves sacrifices that I don’t want to make.

I personally think a good team size is one where you can have a team that generates your income goals and requires you to work as little as you desire.

For practical purposes, I am going to assume you need to make $84,000 per year (I will explain later why, promise). A team of 3 should help you easily accomplish this goal.

The 3 Person Team.

Hire #1. Personal Assistant – Cost $12,000 plus performance bonuses. Ideally 10% of net profit etc. (Note: $12k is if you outsource, if you are against outsourcing, you can hire within the states for about $30k total cost)

This first person you hire is your delegation training wheels. We could write a book on this topic, but the long and short of it is this. You need to practice delegation everyday if you are going to build a winning team. The sooner you start the better.

For this hire, you are going to delegate to them every possible thing that you can. So much of your day is routine, mundane tasks if you think about it. You are far too important to be even thinking of $20< per hour work. Really. You will want to get it to a point where tasks are just a blip (a one to three second email/voicemail forward away from being complete) to you. Not a 5 minute to 5 hour piece of minutia that you have to deal with.

Our job is to get things to a point where our person is too busy to handle anything else competently. Once we get to that point, we can start to line them up their own assistant. It’s like playing that Jenga game (sp?). When you get nervous about putting one more task on their desk out of fear it will all come tumbling down, its time to hire again.

Qualifications: They need to be able, reliable and have a positive attitude. 99.9% of the time, I hire solely based on attitude. High skill people are expensive to hire and hard to keep. They have options out there and they will make you feel it. I would rather build up a “good attitude” person from scratch.

Hires 1-3 need to be value hires as your money will be tight. You are already sacrificing your income at this point to “bring people on”. It’s not like they are making you money YET.

One thing to watch for on your first hire is their ability to manage people. You don’t want to be falling into this role of being a full time manager. You have enough, high income producing things to focus on outside of being a professional babysitter. Remember your “One thing”. We want people who can help us manage our growth down the road.

Thinking ahead to when you have a team, your new job should be getting and keeping customers happy. A team is pointless to have if you don’t have the business to keep them busy.

Hire #2. Assistant to your Assistant – Cost $10,000-$12,000 plus performance bonuses. Ideally 5-10% of net profit etc.

Hire #2 is going to be easier as your current personal assistant is going to help get them “up to speed”. You will work with them as well, but you can at least let your current assistant buffer that process for you. This way you don’t have to start from scratch. Ie. Teaching them what a “Ranch” house is, or what we do here etc. etc.

Hire #3. Assistant to you and the company – Cost $10,000-12,000 plus performance bonuses. Ideally 5-10% of net profit etc.

The purpose of this hire is going to be solving the new problems that arise in your operation. As you expand, manage and make more money there are going to be a whole new set of problems to solve. Mainly, financial reporting related.

I would recommend training hire#3 on financial reporting / bookkeeping and filling in any gaps left at your company. Also, hopefully by this time, you have become more involved and creative with your marketing. Your new hire#3 can also assist you in this area.

See figure (A) for an example of what I have just described in our 3 member team setup. My chart also displays how you could expand on your first few hires.

In closing: In order to survive it costs me personally about $7,000.00 per month X 12 months totaling $84,000.00

House$1,000.00
Cars$1,000.00Payments, Insurance, Gas
Health$1,000.00Family of 4
Food$1,000.00Family of 4
Vacations$500.002 p/year, 7 days, 3k each. Fam of 4
Misc.$500.00
Savings$0.00Let’s be real, who saves?

Question. How much do I need to make per hour to earn $7,000.00 per/month working 40 hours per week?

Answer: $43.75 per hour.

Question. How much do I need to make per hour to earn $7,000.00 per/month while only working 20 hours per week?

Answer: $87.50 per hour. Name me some W2 jobs that pay this wage. Great incentive to start building your team today!

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