Estimated reading time: 1 minute, 36 seconds
Something I struggle with on a daily basis is focus... I have so much going on and so many projects to complete it is very difficult for me to focus. I have had to force myself to realize that I can not possibly do everything myself... Outsourcing what you can not do is very important in business. It will often cost you more money by not getting something done than if you had outsourced the project or task to someone else and paid them. This is difficult for many people. For example, I have an apartment that needs cleaned: Do i clean it myself or pay someone decent money to clean it for me? Of course I do not clean it myself, I have too much going on, but I will pay someone $250 to get it cleaned and rentable in 2 days. I could pay someone by the hour to clean it, or possibly get it done cheaper... but would they take thier time? Would they get it done when i need it done? Probably not... I am willing to pay money for speedy results. Every day that the apartment is not rented is costing me money. We have these numbers built into our investment plan. Bottom line, do not be afraid to have someone else do what you may procrastinate on doing.... Focus on the project and get someone to do the things you may not have time for... If you believe the project will make you money, build outsourcing some of the work into the equation. Many times people purchase investment property without calculating management fees... I do not know about everyone else, but I don't plan on managing our properties myself indefinitely... my nerves could not take it.. We have the management fee built in... so when I decide to call it quits, we turn it over.. and we are still ahead, because it is built into our numbers.