How to scale a 7-figure business in less than 2 years (Podcast Ep #98)
Nov 2, 2023
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Learn how Justin Piche scaled his 7-figure land business in less than 2 years by removing friction and empowering his team. He shares insights on marketing, forced appreciation, team structure, and advice on hiring. Also, discover cost-effective marketing tools and the importance of repeatable processes. Plus, hear about their hobbies, family time, and book recommendation 'Buy Back Your Time' for scaling a team and managing time.
Removing friction is key to scaling a business; It's important to empower your team for business growth.
Deep dives
Building and Scaling a Land Business with a Team
Justin P. Shea, a seven-figure land investor, shares strategies on building a team and effective marketing tools. He highlights the importance of hiring an acquisitions manager to scale the business and focus on higher value tasks. Justin emphasizes treating team members as employees and aligning compensation with team success. He also recommends using Launch Control for cost-effective marketing and discusses the benefits of subdividing properties to force appreciation. Overall, Justin's insights highlight the significance of building repeatable processes and optimizing time management in land investing.
Efficient Hiring Process for Acquisitions Managers
Justin explains his hiring process for acquisitions managers, including using remoteco.com and myinterview.com. He emphasizes the importance of hiring team members who are fluent in spoken English. By leveraging these tools, Justin efficiently filters potential candidates and conducts video interviews to assess their suitability for the role. His focus on finding individuals motivated to work full-time and align with the company's vision ensures effective team building.
Maximizing Time for Family and Personal Projects
Justin shares how scaling his land business has allowed him to spend more time with his family. He cherishes moments with his children and takes pride in being present for morning walks to school and picking them up in the afternoon. Additionally, Justin has dedicated more time to personal development projects and enjoys managing development deals. This balance of family and professional time showcases the benefits of building a scalable land business.
Lessons Learned and Advice for New Land Investors
Reflecting on his experience, Justin highlights the advantages of entering the land business earlier and the potential opportunities within the market. He advises focusing on cost-effective marketing tools like Launch Control and emphasizes the value of subdividing properties to create additional profitability. Furthermore, Justin encourages hiring acquisitions managers early to expand the business and optimize time management. Overall, Justin's insights provide valuable guidance for individuals starting their journey in land investing.
“The businesses that make it to the next level, they don’t do it by working harder or working more, they do it by removing friction.”
From only getting into land in 2020 to already building a 7-figure land business, Justin Piche knows a thing or two about getting to that next level.
In this episode, he breaks down how he removed friction from the micro to the macro; from the tools his team uses to how he built out a 10-person, international team (including the position he considers most important).
Add in insights on marketing, forced appreciation, team empowerment and how he structures compensation, this is essentially a mini masterclass.
IN THIS EPISODE LISTEN AND LEARN:
The importance of team empowerment for business growth