five things to stop doing yourself so as
entrepreneurs we end up doing a lot in
our business right when you’re first
starting up you wear everything from the
janitor all the way up to the CEO and
when you look at companies who grow
entrepreneurs who really take off it’s
when they stop doing all the tasks that
are beneath them focus on what their
best in the world that and become a
super successful entrepreneur and so in
today’s video I’m answering a question
for one of my YouTube viewers Michael
love you guys wrote in to say hello Evan
by way of introduction here is a photo
of me and my lovely wife Odie I’ve been
a general dentist for 37 years and a
hard money lender for the past twelve
years this year became a licensed lender
here in Florida and my customers are
house flippers and real estate investors
my three-year plan is a slowly phase out
on my dental practice while I can
certainly grow my lending business to
four million dollars in loans
outstanding these are all short-term
high interest rate first more views on
single-family homes my question for you
involves exactly how to grow my business
oh I could do it on myself but that
won’t leave me much time for my other
passions
od exotic travel photography a struggle
with the sequence of steps needed to
grow along with an innate inclination to
do too much myself and delegate too
little so what is a typical sequence
marketing building a recognizable brain
hiring employee pod computers and set up
an office currently we operate out of my
existing off in space my dental building
use a part-time bookkeeper and I’m
hiring a marketer to set up automated
workflow I think I’m on the right path
but I have trouble visualizing the end
result a company that can function
without me doing everything many thanks
your thoughts Michael so there are six
layers of a typical company and if you
want to get to the highest level with
your CEO you have to eliminate the five
in front of you and those five are
administration production marketing
business development and general manager
so I’m going to go through each one talk
about a little bit and then explain how
it applies to Michael’s business and
hopefully you can understand how it
applies to yours as well for those of
you watching and learn a little bit
along the way if you feel like you’re
doing too much in your business so
number one is administration you need to
eliminate the admin from your life this
is the the low level data entry
bookkeeping even accounting which is
higher level I guess but still on the
administration side you want to be doing
that stuff because you’re not great at
it never will be you have no interest or
passion in it and if you can hire
somebody at minimum wage to come in and
do data entry for you that frees up your
time to go and do the bigger picture CEO
work and and the five other steps kind
of in between so you know the first
person I hired in my first business was
for one hour day to come in and do admin
work for me on the computer and that
saved me an hour a day he did it from
home but it saved me an hour a day from
having to do it myself
it saved me actually more than our day
because he was better at it than I was
and again the more you can free up your
time to focus on the bigger picture
stuff the more your business is going to
grow or if you’re tied down by all the
day-to-day administer because you can’t
delegate it out then you’re going to be
held back so Michael in your business
you’ve already hired that part-time
bookkeeper that’s great I’d encourage
you to look at what other admin tasks
are happening on a regular basis that
somebody else should be doing because
you’re doing it right now and preventing
you from focusing on the bigger picture
stuff number two its production and
that’s when you’re actually making
something right that the the business of
making a product or making a service if
you have an actual good and if I have if
I have these lint rollers here how are
these actually made you’ll do I have to
make this by hand do I have machine to
help me am I still assembling it somehow
right you want to you want to remove
yourself from the the lint making
production as much as possible so you
can again focus on the bigger picture
stuff of the marketing and the business
development and the the general manager
in the CEO time that’s where you want to
be spending it if you have a service
based business then it’s removing
yourself from the delivery of the
service as much as possible so give an
example in my business a brand might
hire me to make a video and in that
video I’m explaining you know whatever
topic they want me to talk about and I’m
still the guy on camera making a video
right they’re hiring me and I guess I
could delegate that away but you know I
still enjoy doing the videos but
everything else I’m not a part of
anymore right I don’t edit the videos I
don’t publish them online
I don’t promote them on the on our
social media channels I don’t do any of
that work I don’t do the transcription
of the
you know for me to sit there and
transcribe my video if it’s five minutes
of me talking and I got to time it all
out and transcribe it that’s not a good
use of my time right so it’s better to
delegate that allow me to focus on the
best use so Michael in your business I
don’t know what what’s involved in the
delivery of your loan practice it may
not be a lot in which case you can
totally skip this step but even if you
think about how do you qualify a loan
right what’s the steps that people have
to go through is that always you doing
it are you spending a lot of time on
that side of the business and if you are
then that could be something that you
have somebody come on and even if it’s a
part-time job
someone who wants to learn the real
estate business or the financial side of
the business that could be interesting
for them so they’re getting paid a wage
that’s fair for them and it frees your
time up to again move up the ladder and
focus on the bigger picture stuff number
three is marketing and this is where a
lot of entrepreneurs get bogged down
you’re so buried in the marketing that
you can’t move up to focus on the bigger
issue things so you’re working on your
website you’re working on your business
cards you working on your flyers you
working on your social media campaigns
you working on a YouTube project you’re
spending so much time in the marketing
of your company and yes it’s important
and you know if you’re spending so much
time doing the data entry and doing the
the production you can’t focus on the
marketing but if you’re already past
that you’re spending all your time in
marketing again you want it that’s the
next thing you want to give up so you
can move upstream a little bit more
because again if you’re spending so much
time working on your website then you’re
not spending the time thinking about the
bigger picture stuff to grow your
business so Michael in your case you
know you said you’re hiring a part-time
marketer that’s awesome again I’d be
examining where are you spending your
time are you spending so much time
thinking about your social media
campaigns and your brochures and do you
need business cards and what you’re
going to write on your website and
you’re going to do a blog or you know
video series all of that takes a lot of
work that forces you to be in the
business and if you have a tendency to
want to take on a lot yourself and do
everything yourself like a lot of
entrepreneurs do then that can chew
a huge chunkier time instead of letting
you focus on the bigger picture thing so
that’s the next person to bring on is
helping you with your marketing number
four is business development and this is
where you’re actually out closing deals
bringing in new business and this is
where a lot of entrepreneurs should be
but they’re not because they’re spending
too much time in the admin console
so in Michaels business if he’s trying
to find new loans to be able to give out
to new homeowners what’s the funnel how
does that look like right I don’t want
to certainly rely only on people finding
me on a website I want to look at who
could I partner with who can I talk to
that if they understand what I’m up to
they could spread my message to a lot of
people instead of me having to go one by
one by one by one by one so look at
first-time homebuyers who are they
talking to before they’re buying a home
so can you make a deal with real estate
agent can you make a deal with insurance
brokers can you get in the local media
right where I need anybody covering real
estate in Florida would kind of know
about you right that’s business
development where you’re out negotiating
deals and you can you know you want to
build it to four million dollars that’s
not a huge portfolio right if you think
about how much a house costs or condo
costs that’s going to get chewed up
pretty quickly so you don’t you know
you’re not trying to build this
ginormous organization it doesn’t take
that many deals to be able to fill up
your portfolio and the right
partnerships with the right real estate
agents and mortgage brokers and
insurance brokers and mentions in the
media can can give you all the business
that you’ll need and so that’s where you
should be spending a lot of time as you
grow this thing up instead of the stuff
flow down the funnel and as you continue
to grow as you want to step out it as
you want to do more traveling and
photography and enjoy your wife then you
can give that role to somebody else to
be able to manage for you
number five is general manager and here
you’re running the whole business so
you’re you’re making sure everything
gets out on time your your
bring everything on time the money’s
flowing out you know you’re getting paid
back properly all the deals are
happening all the meetings are set up
right you have your goals you have your
targets and you’re running the business
and this is where most entrepreneurs
aren’t but really should be you want to
be in that general manager role but
you’re spending so much time downstream
that you can’t afford the time if you
want to continue to grow that last step
is CEO that’s number six is CEO where
you hire a general manager and if you
think about most entrepreneurs we’re
creative we’re big thinkers we you know
we want to change the world we have
dreams that we want to go and accomplish
we’re the ones out there kind of
inspiring people that’s the role of a
CEO you’re setting the future direction
of the company we’re the general manager
is running the company based on the
goals and criteria that you set up right
so the CEO would tell the general
manager here’s where we’re going here’s
what we want to accomplish go out help
me make it happen and the general
manager would be the one taking care of
everything and so ideally you know your
concern is how do I get this thing up to
the point where I don’t have to manage
everything ideally you can get up the
ladder high enough so that you could be
the CEO and don’t have to worry about
anything else in the business but that
takes money right it’s expensive to hire
all of these people and so as you work
your way up you’re making sure that
they’re paying for themselves you’re
making sure the business is growing but
I don’t know where you are yet right now
you’re kind of sounding like you’re you
know you’ve got the admittin production
may not be a huge issue you’ve got the
part time marketing person so next thing
is going to be business development and
that may be you out there hammering on
the doors talking to those those
potential referral partners for you
eventually given that somebody else you
can step up the journal manager and
eventually CEO so those are the five
things that you need to stop doing
yourself if you want to become a mega
successful entrepreneur I love to hear
where you are on that path leave a
comment let me know where you’re at
and if you have any questions thoughts
or even advice from Michael put that in
the comments below if you like this
video you want to see more subscribe to
the channel thank you so much for
watching continue to believe and I’ll
see you soon
every week I share inspiring and
motivational stories that really mean
something to me
that I hope you’ll check out in my
newsletter below
you
entrepreneurs we end up doing a lot in
our business right when you’re first
starting up you wear everything from the
janitor all the way up to the CEO and
when you look at companies who grow
entrepreneurs who really take off it’s
when they stop doing all the tasks that
are beneath them focus on what their
best in the world that and become a
super successful entrepreneur and so in
today’s video I’m answering a question
for one of my YouTube viewers Michael
love you guys wrote in to say hello Evan
by way of introduction here is a photo
of me and my lovely wife Odie I’ve been
a general dentist for 37 years and a
hard money lender for the past twelve
years this year became a licensed lender
here in Florida and my customers are
house flippers and real estate investors
my three-year plan is a slowly phase out
on my dental practice while I can
certainly grow my lending business to
four million dollars in loans
outstanding these are all short-term
high interest rate first more views on
single-family homes my question for you
involves exactly how to grow my business
oh I could do it on myself but that
won’t leave me much time for my other
passions
od exotic travel photography a struggle
with the sequence of steps needed to
grow along with an innate inclination to
do too much myself and delegate too
little so what is a typical sequence
marketing building a recognizable brain
hiring employee pod computers and set up
an office currently we operate out of my
existing off in space my dental building
use a part-time bookkeeper and I’m
hiring a marketer to set up automated
workflow I think I’m on the right path
but I have trouble visualizing the end
result a company that can function
without me doing everything many thanks
your thoughts Michael so there are six
layers of a typical company and if you
want to get to the highest level with
your CEO you have to eliminate the five
in front of you and those five are
administration production marketing
business development and general manager
so I’m going to go through each one talk
about a little bit and then explain how
it applies to Michael’s business and
hopefully you can understand how it
applies to yours as well for those of
you watching and learn a little bit
along the way if you feel like you’re
doing too much in your business so
number one is administration you need to
eliminate the admin from your life this
is the the low level data entry
bookkeeping even accounting which is
higher level I guess but still on the
administration side you want to be doing
that stuff because you’re not great at
it never will be you have no interest or
passion in it and if you can hire
somebody at minimum wage to come in and
do data entry for you that frees up your
time to go and do the bigger picture CEO
work and and the five other steps kind
of in between so you know the first
person I hired in my first business was
for one hour day to come in and do admin
work for me on the computer and that
saved me an hour a day he did it from
home but it saved me an hour a day from
having to do it myself
it saved me actually more than our day
because he was better at it than I was
and again the more you can free up your
time to focus on the bigger picture
stuff the more your business is going to
grow or if you’re tied down by all the
day-to-day administer because you can’t
delegate it out then you’re going to be
held back so Michael in your business
you’ve already hired that part-time
bookkeeper that’s great I’d encourage
you to look at what other admin tasks
are happening on a regular basis that
somebody else should be doing because
you’re doing it right now and preventing
you from focusing on the bigger picture
stuff number two its production and
that’s when you’re actually making
something right that the the business of
making a product or making a service if
you have an actual good and if I have if
I have these lint rollers here how are
these actually made you’ll do I have to
make this by hand do I have machine to
help me am I still assembling it somehow
right you want to you want to remove
yourself from the the lint making
production as much as possible so you
can again focus on the bigger picture
stuff of the marketing and the business
development and the the general manager
in the CEO time that’s where you want to
be spending it if you have a service
based business then it’s removing
yourself from the delivery of the
service as much as possible so give an
example in my business a brand might
hire me to make a video and in that
video I’m explaining you know whatever
topic they want me to talk about and I’m
still the guy on camera making a video
right they’re hiring me and I guess I
could delegate that away but you know I
still enjoy doing the videos but
everything else I’m not a part of
anymore right I don’t edit the videos I
don’t publish them online
I don’t promote them on the on our
social media channels I don’t do any of
that work I don’t do the transcription
of the
you know for me to sit there and
transcribe my video if it’s five minutes
of me talking and I got to time it all
out and transcribe it that’s not a good
use of my time right so it’s better to
delegate that allow me to focus on the
best use so Michael in your business I
don’t know what what’s involved in the
delivery of your loan practice it may
not be a lot in which case you can
totally skip this step but even if you
think about how do you qualify a loan
right what’s the steps that people have
to go through is that always you doing
it are you spending a lot of time on
that side of the business and if you are
then that could be something that you
have somebody come on and even if it’s a
part-time job
someone who wants to learn the real
estate business or the financial side of
the business that could be interesting
for them so they’re getting paid a wage
that’s fair for them and it frees your
time up to again move up the ladder and
focus on the bigger picture stuff number
three is marketing and this is where a
lot of entrepreneurs get bogged down
you’re so buried in the marketing that
you can’t move up to focus on the bigger
issue things so you’re working on your
website you’re working on your business
cards you working on your flyers you
working on your social media campaigns
you working on a YouTube project you’re
spending so much time in the marketing
of your company and yes it’s important
and you know if you’re spending so much
time doing the data entry and doing the
the production you can’t focus on the
marketing but if you’re already past
that you’re spending all your time in
marketing again you want it that’s the
next thing you want to give up so you
can move upstream a little bit more
because again if you’re spending so much
time working on your website then you’re
not spending the time thinking about the
bigger picture stuff to grow your
business so Michael in your case you
know you said you’re hiring a part-time
marketer that’s awesome again I’d be
examining where are you spending your
time are you spending so much time
thinking about your social media
campaigns and your brochures and do you
need business cards and what you’re
going to write on your website and
you’re going to do a blog or you know
video series all of that takes a lot of
work that forces you to be in the
business and if you have a tendency to
want to take on a lot yourself and do
everything yourself like a lot of
entrepreneurs do then that can chew
a huge chunkier time instead of letting
you focus on the bigger picture thing so
that’s the next person to bring on is
helping you with your marketing number
four is business development and this is
where you’re actually out closing deals
bringing in new business and this is
where a lot of entrepreneurs should be
but they’re not because they’re spending
too much time in the admin console
so in Michaels business if he’s trying
to find new loans to be able to give out
to new homeowners what’s the funnel how
does that look like right I don’t want
to certainly rely only on people finding
me on a website I want to look at who
could I partner with who can I talk to
that if they understand what I’m up to
they could spread my message to a lot of
people instead of me having to go one by
one by one by one by one so look at
first-time homebuyers who are they
talking to before they’re buying a home
so can you make a deal with real estate
agent can you make a deal with insurance
brokers can you get in the local media
right where I need anybody covering real
estate in Florida would kind of know
about you right that’s business
development where you’re out negotiating
deals and you can you know you want to
build it to four million dollars that’s
not a huge portfolio right if you think
about how much a house costs or condo
costs that’s going to get chewed up
pretty quickly so you don’t you know
you’re not trying to build this
ginormous organization it doesn’t take
that many deals to be able to fill up
your portfolio and the right
partnerships with the right real estate
agents and mortgage brokers and
insurance brokers and mentions in the
media can can give you all the business
that you’ll need and so that’s where you
should be spending a lot of time as you
grow this thing up instead of the stuff
flow down the funnel and as you continue
to grow as you want to step out it as
you want to do more traveling and
photography and enjoy your wife then you
can give that role to somebody else to
be able to manage for you
number five is general manager and here
you’re running the whole business so
you’re you’re making sure everything
gets out on time your your
bring everything on time the money’s
flowing out you know you’re getting paid
back properly all the deals are
happening all the meetings are set up
right you have your goals you have your
targets and you’re running the business
and this is where most entrepreneurs
aren’t but really should be you want to
be in that general manager role but
you’re spending so much time downstream
that you can’t afford the time if you
want to continue to grow that last step
is CEO that’s number six is CEO where
you hire a general manager and if you
think about most entrepreneurs we’re
creative we’re big thinkers we you know
we want to change the world we have
dreams that we want to go and accomplish
we’re the ones out there kind of
inspiring people that’s the role of a
CEO you’re setting the future direction
of the company we’re the general manager
is running the company based on the
goals and criteria that you set up right
so the CEO would tell the general
manager here’s where we’re going here’s
what we want to accomplish go out help
me make it happen and the general
manager would be the one taking care of
everything and so ideally you know your
concern is how do I get this thing up to
the point where I don’t have to manage
everything ideally you can get up the
ladder high enough so that you could be
the CEO and don’t have to worry about
anything else in the business but that
takes money right it’s expensive to hire
all of these people and so as you work
your way up you’re making sure that
they’re paying for themselves you’re
making sure the business is growing but
I don’t know where you are yet right now
you’re kind of sounding like you’re you
know you’ve got the admittin production
may not be a huge issue you’ve got the
part time marketing person so next thing
is going to be business development and
that may be you out there hammering on
the doors talking to those those
potential referral partners for you
eventually given that somebody else you
can step up the journal manager and
eventually CEO so those are the five
things that you need to stop doing
yourself if you want to become a mega
successful entrepreneur I love to hear
where you are on that path leave a
comment let me know where you’re at
and if you have any questions thoughts
or even advice from Michael put that in
the comments below if you like this
video you want to see more subscribe to
the channel thank you so much for
watching continue to believe and I’ll
see you soon
every week I share inspiring and
motivational stories that really mean
something to me
that I hope you’ll check out in my
newsletter below
you
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