Episode 7: How to Build Your Dream Business

10 snips

Nov 12, 2024

Discover the essentials of building a dream business in land investing. The hosts share their experiences with team building using the GWC framework, emphasizing the importance of aligning skills and roles. Learn how to set clear financial goals and develop effective marketing strategies to achieve them. Gain insights from real-world deal reviews, highlighting the crucial role of local knowledge in assessing property value. Finally, explore the dynamics of hiring and motivating a diverse sales team for optimal performance.

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ADVICE

GWC Framework for Team Building

Use the GWC framework (Get It, Want It, Capacity) to evaluate team members.
Ensure employees understand their roles, desire them, and possess the capacity to excel.

ANECDOTE

Scaling Team Example

Justin Piche shares an example of how his sales assistant could not keep up with the scaling transaction volume.
He contrasts this with his transaction coordinator, who successfully adapted and thrived.

ADVICE

Start with Your Financial Goal

Define your desired annual net profit.
Work backward to determine necessary marketing, team, and deal flow.

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🎙️ Welcome back to The Ground Game Podcast! 🎙️

In Episode 7, hosts Justin Piche and Clay Hepler dive into some valuable topics that can help you build your dream business in land investing. They share insights on team building, quarterly goals, and the essential exercise of defining what your ideal business looks like.

In this episode, Justin and Clay cover:

Quarterly Goals Update: Both hosts provide updates on their progress towards their quarterly goals, sharing successes and challenges along the way.
Team Building Tactics: Clay introduces the GWC (Get it, Want it, Capacity to do it) framework from the Entrepreneurial Operating System (EOS) to help listeners evaluate their team members effectively. This framework emphasizes the importance of ensuring that employees not only understand their roles but also have the desire and capacity to excel in them.
Building Your Dream Business: Justin discusses the importance of starting with a clear financial goal and working backward to determine the necessary marketing strategies, team structure, and deal flow needed to achieve that goal. He emphasizes the need for consistency and predictability in business operations.
Real-World Deal Review: Clay shares a recent deal experience that highlights the importance of local knowledge and due diligence in land investing. He discusses how assumptions about property value and access can significantly impact profitability.
Insights on Marketing and Lead Generation: The hosts discuss the costs associated with different marketing strategies, including cold calling and direct mail, and how to calculate return on ad spend to ensure profitability.

This episode is packed with actionable insights and real-world examples that can help you navigate the complexities of building a successful land investing business. Whether you're just starting out or looking to refine your existing processes, this conversation is a must-listen!

Hosts:

Justin Piche: A former US Navy submarine officer turned real estate entrepreneur, passionate about building high-performing teams.
Clay Hepler: A seasoned real estate entrepreneur driven to build an eight-figure land flipping and development business.

#GroundGamePodcast #RealEstateInvesting #LandInvesting #TeamBuilding #BusinessGrowth

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