Todd Toback is my guest; he is a wise man and a good friend. I’m very glad to have him on the show again.
I bought a course from Todd early on, and it included a coaching call with him. He was either the first, or one of the first, to tell me I could make it in this business.
When I started using VAs and searching Craigslist for leads, it was working for me, but I still had to check it out with Todd. I believed in him so much, and I looked to him for approval and guidance.
Todd’s new teaching focuses on removing yourself from the day-to-day hustle of the business. With a strong foundation and smart hiring, your business can prosper without you being involved in every deal.
Todd and I are not using ‘hustler’ in a negative sense here. We just mean that you’re a hustler if you do all aspects of your deals yourself. Everyone starts out that way. It’s how you learn the business.
The bad thing about hustling is that it requires keeping so many balls in the air, and the juggling is constant. You will eventually run out of steam and lose focus if you continue to do everything yourself.
In 2010, Todd decided to stop hustling. He committed to one investment strategy… wholesaling. He brought in a consultant to help him systematize his business and build a team.
There’s an assessment on Next Level Wholesaling.com that helps you determine if you’re a hustler. It gets you to face the truth about where you are and think through your readiness to lead a business.
Having a business means you don’t react emotionally to every little blip in the market. You give things time to percolate. You don’t change marketing tactics on a whim… you look at the numbers over time.
A one-man show can’t keep up with a robust marketing response. And a one-man show often continues to use marketing with a low response rate because they don’t have the time or the data to evaluate it.
Todd knows hiring people can be scary. You’re afraid of anyone seeing how sloppy your business is. You’re afraid you can’t afford an assistant or acquisitions manager, or that employees will become competitors.
In reality, you can’t afford not to hire. Investors often find that it pays for itself. And when you keep track of numbers, you’ll know whether it’s paying off or not, right?
Listen and learn:
- Todd’s superpower is asking the right questions and getting the truth from people.
- Doing everything yourself eventually produces fewer deals because you can’t keep up the enthusiasm.
- Todd does a ‘You’re probably a hustler if…’ routine, but it’s not meant to be funny.
- Todd tells us which numbers are most important to track and to have at your fingertips.
Mentioned in this episode:
- Joe’s podcasts on iTunes: Real Estate Investing Mastery Podcast
- Todd’s website for assessment tool: NextLevelWholesaling.com
- Todd’s Facebook page: Todd Toback Lion Pride Real Estate Investing or Todd Toback
What are you thinking?
First off, we really love feedback, so please click here to give us a quick review in iTunes! Got any thoughts on this episode? We’d love to hear ’em too. Talk to us in the comments below.
Enjoy this podcast? Share the love!