The Science of Flipping - When To Hire and Scale

Episode Date: March 9, 2021

When To Hire and Scale

What is up, everybody? What is up? Welcome back to the Science of Flipping podcast. I am your host, Justin Colby. This podcast is all about tools, systems, processes, strategies to be a rock star real estate investor. And if this is your first time here at the Science of Flipping podcast, if you are listening on iTunes, make sure you subscribe and give me a review. Would love all those five stars. Not joking, very serious. Anyways, with that said, guys, I want to talk to you about a subject that many of my students have recently been bringing up as they are becoming more and more successful. And that is this idea of scaling. When to hire, who to hire, what to pay them, what makes sense financially. And I usually, guys, I usually shut it all down. Let me be very clear. I am not a fan of what is going on all over social medias with, you need to scale your business. You need to remove yourself out of your business. You need to have a business that you're running, not in the business.

I can appreciate the sentiment. And while I definitely have built a business where I am not in the business and I'm working on the business, many people are nowhere near ready to be there. And, you know, just because you start to make some decent money doesn't mean it's time to hire and scale. And I know that might rock a lot of you. You guys might be thinking, well, Justin, you know, I've seen you all over social media and your Instagram and Facebook and TikTok and all that kind of stuff talking about, you know, having a business that you can run instead of being in the business. And while you want to get there, most people aren't ready. And there's number, there's one reason primarily that most people aren't ready for it is because of their lack of leadership. Okay. So there's a two point, there's two points I want to bring up here on this episode. So one is people want to hire, grow that I've been studying sales and leadership. The moment I

got out of UCLA, I went directly into sales and started building teams and businesses straight out of college. And it's funny, I just did a TikTok. If you guys aren't following me on TikTok, go to Justin Colby, TSOF, about how I kind of believe college is a scam, like traditional four-year college. Anyways, that being said, I've been studying this stuff for the better part of 18 years now, sales and leadership. So when people say, hey, I want to start hiring, I need to be focused on other things or whatever the case may be, I'm almost always shutting them down because I don't believe it does any good to go hire someone when you yourself are not a very good leader. Point number two, I don't believe in hiring and scaling and increasing your operational costs

when you yourself are not putting in $250,000 a year in your pocket. If you can't do that, literally in your pocket, then you have no business hiring and scaling. The reason we are all entrepreneurs is because we want to make a lot of money and live a life that most people can't live. Well, here's the undisclosed secret of being an entrepreneur. For the majority of our years, we are working harder than the vast majority of other people.

That's the secret. Most people won't tell you that, and I am. We are working harder. We are dealing with more issues. We're handling more problems than most people. And that is why we get paid the big bucks and make the money and can ultimately live a lifestyle that most people can't afford to live. not making a quarter of a million dollars, then I would highly encourage you not to scale at all, not to hire and to do the work until you're at a position to actually make that kind of money. Otherwise, I would encourage you to just get a job making $100,000. There's a lot of them out there. Okay. And so I do and am a, I'm a huge advocate for you and I want you to become the best real estate investor possible, but I also want you to do it right. So I don't want this episode to be too discouraging. I don't want you to be bummed out by it. I don't want you to be, oh, Justin, you killed my dream. No, no, no, no. I'm going to be your biggest champion. I will be your biggest supporter. In fact, if you want me to be your biggest champion, you want more handholding

and guidance and coaching from me, head over to the science of flipping.com, fill out a form. That's just as apply now in myself or someone from my team will talk with you about how potentially I could be a good fit for you as a coach and really just give you the blueprint to my business, right? And then give it to you so you can run it yourself. So I go to the science of flipping.com if that interests you. Now, that being said, guys, I'm just a pragmatic leader. Okay. I just know that most people fail because they take too much operational cost on in their business and they don't make enough. Okay. But I'm here to help you. I'm your biggest champion. I want you to kill it. I want you to be a rock star, but do it right. Don't do it because

Instagram and the social medias make it look cool. Do it in a way that you make a lot of money so you yourself can actually go live that life that people dream of. I hope this finds you well. I hope this is very positive. I hope this rings a lot of bells and maybe wake some people up. I'm here for you. If you need anything at all, just go to thescienceofflipping.com, fill out the form. I want to get you to that next level. I appreciate you all, and I will talk to you on the next episode. Peace.