Growth and Business Systems for Winnipeg Real Estate
Mass production, the sure sign of success in most industries. It is a point in the life of a company, when it becomes necessary to produce for the masses. No longer is the company serving early adopters or niche clients, things have gone wide open and the number of customers and opportunities abound.
While I run a very niche real estate business, flipping 10 homes last year and securing a number of rental as well as rent-to-own properties I do design my business to operate with mass production in mind.
Why?
I evaluate nearly all the decisions I make in business by asking 3 simple questions:
- Is it sustainable?
- Is it repeatable?
- Is it scalable?
These 3 questions all ask the question of survival and growth. Buying a home and living in it while renovating is definitely sustainable. It can be repeated, but it cannot be scaled. Using 100% of my own capital means I can repeat the process but, it is neither sustainable or scalable. Does the project have enough margin to allow for adequate renovation? If not it can't sustain itself.
These are simple guidelines for growth but are rarely followed by many people in real estate (or small businesses, think owner operated yard care or home cleaning). I spent 3 years growing my real estate business one property at a time. It was slow, it was sustainable (barely) and it was never going to accomplish my goals. By bringing these 3 questions to mind I have grown my business exponentially in the last year.
Having a growth mindset, building systems that mimic mass production will produce massive results. Every project I undertake now requires less personal hours of attention then the one before, which allows me to take on more projects and build my team.
Have a look at this video we shot of a house on Talbot Ave in Winnipeg, Manitoba. A textbook rinse and repeat operation.