7 Tips for Becoming a Better Wholesaling Company CEO
Those serious about growing their real estate wholesaling businesses can find the position of CEO brings a number of new challenges, especially for those who find themselves being the boss for the first time.
So how can you become a better wholesaling CEO as you grow your volume and employ others?
1. Find the Right Management Style
Crucial to becoming a great and effective wholesaling CEO is finding the right balance in management style. Being the big ogre is out and being your employee’s best buddy often leads to issues. So find the right tone between commanding authority and being likeable.
2. Learn to Delegate Well
Learn to let go and actually empower your middle managers instead of still trying to baby sit. Give them the tools to do their jobs effectively and focus on the bigger picture.
You might know better than everyone else and your team members might come up with really dumb ideas sometimes but that doesn’t mean you should just dismiss them. Those on the front lines are often more in touch with what is going on, and even if you don’t like their ideas you should at least make out that you are listening and their opinions count.
4. Lead by Example
It will be hard to maintain the respect and loyalty of your staff if you say one thing and do another. Practice what you preach. If your staff see you cheating, being lazy, dressing sloppy or coming in with a hangover; how are you going to except them to do any different?
5. Become a Better Decision Maker
Being a good leader requires being a good decision maker. You don’t always have to be right, but you do need to be able to make decisions quickly and stand by them.
6. Think Outside of the Cubicle
As a wholesaling CEO, all you may really care about is what employees and contractors are doing when in their seats and on the clock, but that type of thinking is small. In order to build a vibrant, growing business and attract the best talent today, leading entrepreneurs and companies are going above and beyond to offer gym memberships, lenient amounts of time off, and are working on building a community.
7. Constantly Be Learning
Just because you are the boss and may even be rolling in all the money you could possibly dream of and be receiving praise as the hottest, fastest growing real estate investment business in the world, that doesn’t mean you can afford to just sit back and relax. There is always something new to learn and if you are not constantly staying on top of new trends, innovating and learning new strategies, techniques and how to use new technology, you will quickly find you lose your edge and lose your market share to your competition.
This shouldn’t just be an afterthought either, ongoing education and development should be a core part of your business and action plan.
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