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:
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 Addicted To Life 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! Enroll today!
Town Hall Academy Episode 109: How to Handle the Information Overload, Workload, and All That You Have to Learn
Key Talking Points:
Mark Roberts
Prioritize – Decide on what’s important, then focus. Limit distractions to avoid information overload. I don’t have any email or social media alerts turned on. My phone stays on silent or dnd most times.
Trust and empower your staff (delegate)
Clear your head. Write things down in order to get them out of your head. I use an app (Remember the Milk) for most daily things. Do it, delegate it, defer it, or drop it.
How, when, and how long are the best to learn new things?
Filters our brain automatically sets to ignore what we either don’t want to hear or don’t understand
Neural pathways, what they are and how to mow the lawn on them.
Rob Rowsell
What’s your system for breaking down the mountain of actionable items you get from this type of an event? If you don’t have a system, you won’t get much done. Select 3-5 items that must get done before you move to other items on the list.
The Working on it Tuesdays (WOIT) strategy ensures I don’t forget items at the “helicopter level”. Those are tasks only I can do. We’ve all heard of “Working ON my business, not IN my business”. I dedicate this day/time for that. This is uninterrupted “Maker” time, not “Manager” time.
Set realistic, measurable quarterly goals. This also applies to education time. Your coach can help with this. I’m amazed how people overestimate how much can be done in three months, then underestimate what can be done in a year. Write and review what’s most important to get done this quarter, then break that down to what you can knock out weekly. Attack the portion of the list that is “maker” time on Tuesdays. That will really help “move the ball down the field”.
Assign the $10/hour items on your list to a team member. That is a huge help to avoid information overload. Overloading on tasks that can be assigned to an assistant or outside vendor, minimizes an owner’s value. Delegate any $50/hour or less work to someone else. This is helicopter level thinking. The value we bring to the table is $500/hour+. Although this may be foreign to some, thinking like this will start the process. I once thought I had to take out the trash to set the example for my people. Little did I know I was hurting them by not working on what really made a difference for the company they work for.
Join Our Community
Do you own multi-family properties? If not, do you aspire to one day? Then you should consider joining our online discussion group, the Addicted To Life Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. 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! Enroll today!
Using Strategic Depth to Grow Your Assets
Town Hall Academy Episode 109: How to Handle the Information Overload, Workload, and All That You Have to Learn