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Read Transcript for “How To Hire Extremely Cheap Help To Do All Your Grunt Work”
Once you have your business up and running, what you’ll find is that all of the work you have to do to keep up with the leads you’re getting is overwhelming. How do you outsource all of that grunt work? What should you do to reduce the work affordably and cheaply? Here’s some of what I do and some tips on what you can do, too, to make your business run a lot more smoothly and free up your time.
“Dear Joe, you always say that if I want to really make money as a real estate investor, I need to hire an assistant, but I just can’t afford it. Do you have any suggestions?” – Terry Geyser, El Paso, Texas
Joe: First of all, you have to know what you’re doing before you start outsourcing business. You don’t want to start paying other people to do work for you until you know that that work is going to be productive for you, and that the leads that it brings in to you are going to get you the cash as quickly as possible.
Joe: Let’s look at your business in general and how you want to build it. I suggest doing the “For Rent Method” first. Learn how to do that process, i.e. how to talk on the phone, how to get sellers to accept your offer, what to say to them, using the scripts, getting them to say yes in this process – that’s the first thing – you want to get to the money first. Once you get a deal together, you get a buyer, do all of the grunt work yourself, take the phone calls, run some ads and make that happen yourself, and then make some cash.
Joe: Maybe you do that once, twice or even three times. Then, you realize that you’re so overwhelmed by the leads coming in and by all of the work that you’ve been doing, that you need some help. You also know that if you get some help, it’s going to make you focus on the things that make you the most money and it’s going to put the people you outsource on those things, i.e. administrative work and things that can be done by somebody with a very low level of skill.
Joe: You can get somebody for $6 to $8 an hour on Elance to do this work for you. I show you exactly how to do that and I even give you emails with the text you can use to put up job postings that you can use on Elance, RentACoder or any of those places where you can find administrative people to do this work for you. It’s very easy. You just have to be very specific about what you want. That’s why I wrote these job postings – so that you can get these people.
Joe: I think Elance is one of the best ones out there. There’s a bunch of sites like it. I use Elance all the time because it’s easy and everything is all in one place, and I can go back to all of the jobs that I have going on and communicate with them and pay them through Elance, so I really like that process. Also, whenever I want to test something new or try a new campaign, I’ll get somebody new at Elance, or I’ll use somebody that I’m already working with that needs some more work.
Joe: These people might be in Bangalore, Wisconsin, California, the U.K., or maybe even Pakistan. I have people all over the world doing things for me virtually, helping me sell properties in Indiana and the other states that I’m working in.
Joe: And you can do the same thing. It’s really not difficult or very expensive, and if you combine this with the websites, the autoresponders, the voice blast and email technology that I’ve given you, then all of these things combined make an incredible system to bring in business constantly.
Joe: Ultimately, though, you’re going to have to outsource this work or else you’ll become overwhelmed by it.
Joe: I have some folks right now who have been in my program for a few months who are making a lot of money – they’re doing five or six deals a month right now, so they’re making good money – but, they were making a few hundred thousand dollars a year in their job. They want to quit their jobs but they want to replace the money from their job BEFORE they do that. Well, now it’s getting to the point to where they’re doing so much work that they need to be able to automate or else they won’t be able to get their income up to the point of being able to replace it because their time won’t be as usefully spent. And so, I’m helping them through the process of getting their income up, using outsourcing, automation and having other people help them do that.
Joe: They’re in a position to do that because they have consistent business coming in, they have cash coming in and their business is sustainable. Once you learn the basics, then your business can start just snowballing, and then everything will get out of control, and at that point, you’re going to have to figure out how to make it work.
Joe: I’ve already figured it out – I already have these things in place. Those are the things that I’ve been talking about in all of these videos – how to automate your business, and how to outsource it.
Joe: Outsourcing is going to be one of the most important things that you do in your business.
Joe: Now, some of the things that you can outsource are things like developing your twitter leads, software development, for sale by owner campaigns, buyer leads, posting ads, email management, voicemail transcriptions; there are lots of things that you can do.
Joe: You’re going to want to use more than one person when you outsource. Don’t have one person do all of the work for you. If you can find somebody local that you can really trust and they’re cheap, and they’ll work for you and you’re able to monitor them, then maybe that makes sense. But, I prefer to have five different people doing the tasks on a part time basis, so that if one of them screws up or you lose one of them because something happens in their life and they can’t do it anymore, then it’s easy enough to get somebody else to replace that small piece of the pie and still keep everything else going.
Joe: If you have one person that’s doing all of this work for you who already knows how to do everything, and then THEY leave, then you’re kind of screwed. You have to start over scratch and find somebody who can take all of this stuff on immediately, rather than just finding a bunch of different people to do these tasks and doing it that way.
Joe: So you need to find a balance. I only have two employees right now – my mom and dad. They’ve been working with me for a long, long time and they help me with my administrative stuff for this information business. They don’t do much with the real estate aspects of it. Everything else that I have, even in my information business, is outsourced.
Joe: I have lots of independent contractors who do different things, and that way I don’t have to pay payroll tax – I can just 1099 them at the end of the year, which I don’t do myself by the way – I have that outsourced to a bookkeeper who handles all of that and who then submits it to my CPA, so it’s all taken care of for me. All I have to do is sign on the bottom line, check the numbers and make sure they’re all correct.
Joe: I get together with my bookkeeper twice a month and we sit down and make sure all of the bills are paid. It takes us an hour and I look over everything. She gives me all of the details on how much money has come in, how much money has gone out, how much we made last year versus how much money we made this year in each of the different corporations and businesses that I have, so that way, I have a good overall picture of what’s going on in my business every two weeks. When you get your businesses up and running to that level, you’ll need to do the same thing.
Joe: Anyway, what I want you take away from this video is that you can outsource all of the administrative work just by hiring somebody to do it. It’s very, very cheap – you’re talking about 20 to 40 bucks a week, depending on what you want to do for each different thing. If that person brings you back thousands of dollars because of the work they’ve done and that’s freeing up your time so that you can do other things, or, they just free up your time so that you can have a higher quality of life and more time on your hands to enjoy it, it makes all of the difference in the world. Thanks. Bye, bye.