Property Management Growth with DoorGrow DGS 178: The Slowest & Hardest Path To Growth In Your Property Management Business: Do It Yourself
Frustrated at the pace of your growth? Do you feel like you should be farther along, by now, than you are? Here's what is holding you back... your Ego.
In this episode, property management growth expert, Jason Hull explains how trying to do everything yourself can actually hinder and slow your growth.
You’ll Learn…
[01:08] Why You Feel Stuck and Growth Feels Slow…
[03:12] One of the BIGGEST Mistakes You Can Make
[04:25] The Fastest Path to Growth
[05:38] Why You Might Not Feel Like You are Winning
Tweetables“You are smart enough. You will eventually learn how to do everything, but it'll take you probably a decade longer than some of my clients to get similar results. So let's collapse time.”
“The fastest path to growth where I've had the largest growth in my own business has been to get coaches, mentors, and to really educate myself and to invest in myself and in the business.”
“It's kinda like Indiana Jones running from the boulder. Indiana Jones running is generating cash and revenue. Right, then the boulder is expenses and it's chasing after him every single day.”
“One of the biggest mistakes we can make in our business is to not get the right support that we need in the right way as early as possible, or we get the wrong support.”
Resources
Transcript[00:00:00] One of the biggest mistakes we can make in our business is to not get the right support that we need in the right way as early as possible, or we get the wrong support.
[00:00:09] All right, welcome DoorGrow Hackers to the #DoorGrowShow. If you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others, impact lives, and you are interested in growing in business and life. And you are open to doing things a bit differently, then you are a DoorGrow Hacker. DoorGrow Hackers love the opportunities, daily variety, unique challenges, and freedom that property management brings. Many in real estate think you're crazy for doing it. You think they're crazy for not because you realize that property management is the ultimate, high trust gateway to real estate deals, relationships and residual income.
[00:00:45] At DoorGrow, we are on a mission to transform property management business owners and their businesses. We want to transform the industry, eliminate the BS, build awareness, change perception, expand the market, and help the best property management entrepreneurs win. I'm your host, property management growth expert Jason Hull, the founder and CEO of DoorGrow. Now let's get into the show.
[00:01:08] All right, what's up everybody. So I wanted to have a quick conversation about the slowest and hardest path to growth in your property management business or in any business. So the slowest and hardest path to growth in any business is to do it all yourself. That's the hardest and slowest path. So are you somebody that feels like maybe you should by now be farther along in your business? You're frustrated with the level of growth and money and time and freedom that you have currently?
[00:01:42] Do you feel out of alignment with the four reasons for having a business, which is to have more fulfillment, more freedom, more contribution, like making a difference and more support in the business, right? Do you feel like you're lacking these things? You haven't maxed these things out? Then, it might be because you have some ego, and we all do, right? This is one of the biggest hurdles I see entrepreneurs go through is in the early stages, they think they're really smart and they think they know it all and they think, 'nobody else could do these things as well as I could,' and they think, 'I could just figure it all out. I could do it all on my own,' and they don't get support.
[00:02:24] Support is the magic secret ingredient. And this is why. I eventually had to humble myself to a degree and go get coaches and mentors. And that's not an easy thing. It was born outta pain and frustration, like being really stuck, hitting my head against the wall, not being able to like make cash flow sometimes or be profitable or all these things early entrepreneurs deal with in their business and their entrepreneurial journey. It was really painful, you know, trying to like focus on sales and getting business on and then trying to deliver and fulfill on that and then realizing I haven't been focused as much on sales and so now you're in a sales slump, so now I need to go back to sales and focus on that. And then the cash flow comes in and then it wanes and then it comes in and it wanes and like this roller coaster that business owners go through.
[00:03:12] One of the biggest mistakes we can make in our business is to not get the right support that we need in the right way as early as possible, or we get the wrong support. Maybe we get the right support, but at the wrong time. Maybe they're the right people, but it's at the wrong time. It's not what the business needs most right now. It's not what the business owner needs most right now, and that's a tactical mistake. It's kinda like Indiana Jones running from the boulder. Indiana Jones running is generating cash and revenue. Right, then the boulder is expenses and it's chasing after him every single day, and the gap in between is cash flow in a business. And if expenses outpace revenue, Indiana Jones dies. Right? He then makes really bad, even worse decisions to try and extend the cashflow like bad business loans with, you know, high percentage APRs and like really bad things a lot of business owners fall prey to.
[00:04:04] So we wanna make sure that you have a business that is scalable and that can grow, and you continue to extend the gap between Indiana Jones and the boulder and you've got good cash flow, and the slowest path to growth is to do it all yourself. That's it like that's the slowest path to growth is to do it all yourself. The fastest path to growth where I've had the largest growth in my own business has been to get coaches, mentors, and to really educate myself and to invest in myself and in the business. I've never had a good coach that hasn't easily paid for their own services plus some. I get a return on that investment quickly, and that's what we do for our clients.
[00:04:48] So I got a message from our client today and he has increased his revenue. His costs have only gone up 22%, but he's increased his revenue, like, well, over a hundred percent in his business, and so we are making businesses a lot more profitable. I love seeing this. So my recommendation to you is that. You should find coaches, mentors, people that have helped people do what you're trying to do already. They have proven track record. They have case studies, they have success stories. We have a bunch of those.
[00:05:22] You can look on YouTube. Go to youtube.com/doorgrow. Watch our case studies. We're releasing new ones all the time. My daughter, Madi puts these out and creates these video clips, and these are just captured during our coaching calls. We have clients that are winning. If you don't feel like you're consistently winning, it might be because you don't have anybody in your corner.
[00:05:44] A lot of entrepreneurs don't even have their own spouse in their corner, or they don't have their own business partner in their corner. Those people are like, “why don't you just get a job?” Or “why are you working so hard?” Or “why are you doing this,” right? We want to be in your corner. We want to help you and your spouse and business partners get in alignment, see the potential, see the growth that you know, deep down that you should be having and doing and make a business that you can not be involved in, you know, that you can exit, and if you have the option to exit, you will probably want to keep that business because it's just making you money, and that just makes sense. You wouldn't need to exit it, right? But having that option is ultimate freedom, right? We want you to max out those four reasons of fulfillment, freedom, contribution, and support.
[00:06:29] So let us help you do that. Reach out. We would love to train you and help you learn how to be effective in your business, optimize your pricing, optimize your website, optimize your sales pipeline and process, optimize all of these different things so that you can move your business forward a lot faster. So with that being said, I'm Jason Hull over at door grow, we would love to help you out. Reach out to doorgrow.com, and stop trying to do everything yourself. This is the sand trap. We all fall into early in the entrepreneurial journey and get good support. Get good team members, and you're gonna go a lot faster. So stop trying to learn how to do everything and find the 'who.' 'Who' not 'how.' Find the 'who' that can help you just do that thing and know how to do that thing quickly instead of going around, trying to learn how to do it all on your own.
[00:07:23] You can. You are smart enough. You will eventually learn how to do everything, but it'll take you probably a decade longer than some of my clients to get similar results. So let's collapse time, and that's what coaches have done for me. That's it. Until next time, to our mutual growth. Bye, everyone.
[00:07:38] You just listened to the #DoorGrowShow. We are building a community of the savviest property management entrepreneurs on the planet in the DoorGrowClub. Join your fellow DoorGrow Hackers at doorgrowclub.com. Listen, everyone is doing the same stuff. SEO, PPC, pay-per-lead content, social direct mail, and they still struggle to grow!
[00:08:05] At DoorGrow, we solve your biggest challenge: getting deals and growing your business. Find out more at doorgrow.com. Find any show notes or links from today's episode on our blog doorgrow.com, and to get notified of future events and news subscribe to our newsletter at doorgrow.com/subscribe. Until next time, take what you learn and start DoorGrow Hacking your business and your life.