Wholesaler Justin Wilmot runs successful, REI business working just a few hours each week
If your small business is taking up too much of your time, check out the story of Justin Wilmot, a real estate investment training coach and founder of 10 Hour Wholesaler, www.10hourwholesaler.com/presentation/.
Justin loves to surf, and when he realized that he was spending too much time at work and not enough time on the water, he decided to do something about it. I recently interviewed Justin, and here’s what he had to say:
When did you realize you needed to make a change with your real estate business?
For years, I strictly focused on large, expensive marketing campaigns so that I could eventually buy, renovate and sell properties. I was so extremely busy with the daily tasks of marketing, negotiating and babysitting contractors, that it was practically sucking the life out of me. I actually had a day of clarity while driving and started laughing. Reason being…I was driving my brand new, top-of-the-line, best-money-could-buy pick-up…and I felt NOTHING.
I was driving to a job site! Not on some off road in Costa Rica to one of my favorite surf breaks. I was making a boat load of cash…but it was not satisfying as I could not spend it doing what I really, truly loved and appreciated in life… which is pure, uninterrupted FREEDOM while surfing and traveling with my family.
What did you do to make positive changes happen?
I hired a phenomenal, well-educated and highly trainable young man who had the desire to be compensated strictly upon his performance. This means, I scouted for an operations manager that had self-reliance and confidence. Not a sheep. I empowered him by showing him his weekly tasks and goals (benchmarks), and then allowed him to outsource the tasks he desired to one of our five, virtual assistants.
Now, my business looks like this. I am the orchestrator who sets the goals and keeps my team members accountable. My operations manager is responsible for keeping the systems operating smoothly and delegating tasks to our virtual assistants to reach our monthly goals. We run on simple, Excel spreadsheets, an email service provider and a real estate back-office software program which helps us stay organized, submit work and communicate.
How do you conduct your marketing and public relations processes now?
My role now is all about managing others. I delegate tasks to our operations manager, such as e-mail and direct-mail campaigns, and then my team tracks the results. This process allows me to see which campaigns are working the best and which ones need additional edits and fine-tuning. We also work with a public relations expert to create press releases and promote our various, real estate training programs.
What advice do you have for other entrepreneurs who want to spend more time doing the things they love to do?
Stop and take a look at how you spend your time and the goals you want to reach. Then, research various solutions, technology, virtual assistants, and more to see how you can accomplish your goals with less time and effort. Test people and processes until you find the right fit. Always look for ways to work smarter, not harder. Then, you can spend less time at the office and enjoy your life more!
Thanks Justin. We appreciate your inspiration and insights. If you’d like to find out more about Justin’s program, visit www.10hourwholesaler.com/presentation/.
And if you’d like help with your PR and marketing efforts to work smarter with better results, write to us below or visit www.rembrandtwrites.com for more information.