Rob Rowsell discusses the concept of strategic depth in business. When you approach your business holdings with the mindset of strategic depth, you will grow your assets in a sustainable way. Rob touches on many topics, from the value of employee tenure, the book The Four Hour Work Week, delegation of tasks, and more.
Using Strategic Depth to Grow Your Assets
Rob lays everything out at the start for anyone listening who wants to scale their businesses. The concept of strategic depth in Rob’s view means delegating many of your time sucking, yet important, tasks to your employees. There are three reasons to do so:
- Protect your joy. When you have to approve, oversee, or do every menial task, business ownership is no fun at all. See the book “The Four Hour Work Week”.
- Concentrate on the most important jobs that only you can do. Don’t waste time deleting emails and ordering toilet paper. Cleaning your inbox can really be a time suck. Hand those tasks off to someone else.
- Make your business more valuable for a sale. When potential buyers ask about your business, they will want to know how long your manager has been working for you. If it’s only been a few months, rather than five years, for example, your business will be worth much less. On the flip side, if your manager is close to retiring, that is also undesirable to potential buyers. They don’t want the headache of training someone new to fill the position. The concept of “seasonality in the workplace” centers around these scenarios. Nobody wants to deal directly with a business bogged down by high employee turnover. You should have a “How-To Manual” folder readily available in the cloud containing every SOP that runs your business.
When you consider strategic growth, keep all of these factors in mind.
Join Our Community
Do you own multi-family properties, or do you aspire to one day? Then you should consider joining our online discussion group, the ATL ATL Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not quite as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Sign up today!