Any successful entrepreneur will be the first to tell you that it doesn’t pay to be a jack of all trades. If you want to take your career as a Des Moines real estate investor to the next level, you will be required to start adding members to your team. While you may be a maverick when it comes to spotting a cash cow property, recruiting requires a very different set of specialized skills.
Today you are going to learn:
The fastest path to finding the right team members
How to instill loyalty and respect in your new recruits from day one
Practical ways to avoid costly turnover
If you are ready to go from being a solo investor to the leader of a Des Moines real estate empire, this post is for you!
What Are Your Strengths & Weaknesses?
The first thing you need to do on your path to growing your team is to exercise some self-awareness. It makes no sense to fill your team with people whose strengths are the same as your own. Therefore, you need to identify your top 3 to 5 strengths as a professional real estate investor and then look for areas where you are weak. Your list of weaknesses will become the list of qualifying traits in your potential new hires and it should be included in the job description. For example, if you are a champion at marketing but struggle with staying organized and keeping your books straight, a financially minded admin or accountant would make a great addition to your team.
Leverage Your Network
Once you have a clear-cut idea of the type of person that you want to bring on, you have to get to work to attract them to you. As they say, it can be difficult to find good help these days. However, if you leverage your current network it may be easier than you think. One way you can do this is to send out an email to your database requesting that they let you know of anyone they trust that will fit your job description. Another option is to turn to social media platforms like LinkedIn and Facebook to ask your followers who they know that you should be bringing in for an interview. To help your recommendation request reach even more people, include relevant hashtags that describe the type of person you are looking for and your location.
Do Your Due Diligence
If you get lucky and wind up with a list of potential hires from your network, don’t just assume that they are as great as they claim to be. You still need to do your homework and protect your business by digging deeper. This means requiring additional references that you actually verify and running a background check. The last thing you want is to find out the hard way that your seemingly perfect new hire has a tendency to steal, cheat, or lie. To put it in investors’ terms, this is measuring your risk against your reward.
Communicate Your Unique Value
One of the highest and most common expenses in any business is employee turnover. The amount of time and resources that are spent hiring and training new people cannot be wasted. In order to attract the highest quality hires and earn both their loyalty and respect from the beginning, you need to be able to communicate your unique value to them as an employer. Again, this is an exercise in self-awareness, as well as, your brand. Make a list of what you and your company do best and how that translates into value for potential new hires. Include that value proposition in your job ads and communicate it further in your interviews. Just make sure that you are ready to put your money where your mouth is and actually provide what you promise.
Want More Tips On Investing In Des Moines Real Estate?
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Liz and Chase