A Fast Way to Become More Efficient in Your Business

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This week I’m going to share the ‘templated mindset’ with you, including the pros, cons and how they can be applied to your real estate business.

But how does this help you?

As a business owner I’m sure you often feel like there’s too much to do and overwhelm creeps in.

Yet so much of what we do is very similar, whether it’s deal analysis, viewing properties or creating a schedule of works.

A ‘templated mindset’ will improve your efficiency, make it easier to delegate and improve performance in your business…

Unfortunately this concept isn’t widely known or use, so people often end up wasting time reinventing the wheel.

Applying templates to your business will make significant improvement in productivity.

So why don’t more business owners use this approach?

  • don’t understand how to do it

  • are unaware of the benefits of using a templated mindset

  • haven’t set aside time to implement templates in what they do

    Thinking this way will revolutionise how you think about your business and help you to work a lot more ON your business, rather than IN it…

    So let’s kick off…

1: What Is a ‘Templated Mindset’?

A templated mindset is an approach we take to our business and a set of questions to ask:

  • is this a process and how often do we do it?

  • what is the same each time and what changes?

  • who needs to own / run this process?

  • how can this process be better?

  • can I create a template for this process?

For example

  • viewing a property - the address, agent and date / time changes, but the bits you look at stay the same (check out my viewing template here)

  • stacking a deal - the specific house info changes, but the calculations, minimum requirements and outputs stay the same

  • investor due diligence - the person and their info will change but the checks / process will be the same

So what processes could you template?

2: Pros

Looking at your business with a templated mindset has a number of pros:

  • reduce errors since a predefined check list is used

  • speed up processes since you don’t have to start from scratch

  • easier to outsource since the process is documented

  • a template gives you something to build upon and improve over time as you get more knowledge / experience

3: Cons

  • reduced creativity / intuition - rigid templates restrict people so ensure there are appropriate opportunities to think outside the box

  • templates may not cover all situations / edge cases so ensure templates can flex flex depending on the circumstances

Ultimately your time should be focused on value add tasks - strategy, relationships, scaling your business. Not working on repetitive, ‘turning the handle’ jobs IN your business.

So think about what you can template, get them created and outsource asap.

All Systems. GO!

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