Most entrepreneurs start off as solopreneurs.
They hustle to build a business from their own blood, sweat, and tears. They aren’t just the owner of their business, they’re the marketer, the salesperson, the assistant, and the Acqusitions Manager.
Because their business depends on them.
But here’s the kicker: at some point, if the solopreneur is going to be successful and build the business that they want to build, then they’ll have to transition to being an entrepreneur.
(After all, the dream is to build a business that doesn’t require your constant attention)
The true entrepreneur is someone who delegates, leads, and understands flow.
Let me explain.
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1. From Controlling To Delegating
When you first start building your real estate investing business, you’re going to be doing pretty much everything — cold calling, answering the phone, sending mailers, viewing houses, coordinating deals, and talking with buyers.
And eventually, you’ll get pretty good at most of those things.
You’ll end up doing things a certain way and finding techniques and tactics that work for you. Maybe it’s targeting a specific type of deal, talking to leads a certain way, or seeking out certain types of buyers.
That’s not a problem… until you hire people who do things differently.
Look, it’s not bad to train people and show them tactics and techniques that have worked for you in the past… but it is bad to micromanage them to a point where they aren’t able to develop their own effective systems and processes.
Everyone is different; what works for you might not work for the person you hired. Allow them some freedom in deciding how they get something done — also, learn to trust services like Call Porter to take some of the weight off your shoulders.
To grow your business, you’re going to have to let go of control and start delegating.
2. From Hustling To Flowing
As entrepreneurs, my brother and I aren’t huge fans of the hustle culture. The idea that if you work yourself to the bone for the rest of your life, you’re going to be happier and more successful, just isn’t true.
But we do understand that hustling is an important and often necessary part of the beginning growth of a business.
After all, someone’s got to work a ton to keep your business afloat… and you’re the only person who’s willing to do it.
But if you’re aiming for long-term, seamless growth, then you need to switch mindsets from hustling to flowing.
What I mean by “flowing” is that you need to focus on creating processes and systems that allow your business to run like a well-oiled machine. There shouldn’t be a lot of stopping and starting again. Every person should know what their job is and how to do it well.
The longer that your business stays in a state of flow, the more that it’s going to grow without you having to work 60-hour weeks.
3. From Managing To Leading
Management isn’t a bad thing.
In fact, it’s really important.
Someone needs to keep tabs on day-to-day tasks and make sure that everyone is playing their part. But eventually, your business will grow to a point where that person shouldn’t be you.
If you remain as the manager of your business for the long-term, you’ll cripple your business’ growth. Because just like someone needs to manage day-to-day operations, someone else (you) needs to lead.
At some point, you’ll need to transition to becoming the leader of your business — you’ll need to cast vision, articulate that vision to your workers, take responsibility for it, and passionately drive it to completion.
This is perhaps the most difficult transition for entrepreneurs to make, going from a manager to a leader.
But it’s also the most fulfilling.
Enough from me… what do YOU think is the most important part of transitioning from solopreneur to entrepreneur? Let me know in the comments!