Many people ask me what should they outsource? \u00a0I say that you should outsource the most repetitive, tedious, and\/or unimportant tasks that someone else should be doing while\u00a0you focus on making offers!<\/p>\n
Before we can sort this out, we need a frame of reference. So let\u2019s take another quick step back.<\/p>\n
How do you see the dollar value of your time? What price do you put on your most valuable asset?<\/p>\n
It\u2019s hard to do this arbitrarily, so let\u2019s run a quick calculation.<\/p>\n
Fill in the blanks:
\n$ ___________________ (your target yearly income)?\u00f7 52?\u00f7 ___________________ (your target working hours per week)?= $ ___________________ (target dollar value of your time)?It doesn\u2019t seem so far out of reach when you break it down like that, does it?<\/p>\n
Now that you\u2019re aware of the target value of your time (TVT), it\u2019s easier to determine whether any daily task is worth your time. Say your TVT is $240 an hour ($500,000 income-per-year on a 40 hour-per- week schedule).<\/p>\n
For most of the things you fill your time with each day, you\u2019ll find the answer to be \u201cno.\u201d<\/p>\n
In case you haven\u2019t picked up on this pattern yet, frequent \u201cstepping back\u201d is a common trait of the architect.\u00a0Several times a day, stop and ask yourself why you\u2019re doing what you\u2019re doing. Get some altitude on the situation.\u00a0Does what you\u2019re doing have an immediate, measurable impact on your desired results?\u00a0Is what you\u2019re doing the highest & best use of your time?\u00a0If so, proceed. If not, stop and delegate it to someone else.<\/p>\n
For some of these the answer may be \u201cyes,\u201d but also remember that there are mental and emotional costs to some of these tasks as well. Putting out bandit signs for 4 hours may certainly be worth $960 to your business, but is it worth the stress of waking up at 4am to do it? Of not having a clear head when analyzing deals later that morning? Of not spending that time with your family instead?<\/p>\n
These are the questions you should be asking yourself all day.\u00a0Does what you\u2019re doing have an immediate, measurable, positive impact on your desired results?
\nIs what you\u2019re doing the highest and best use of your time?\u00a0If so, proceed with the task. If not, stop and delegate it to someone else.<\/p>\n
With practice, it gets easier to make these decisions. Soon, for each task that presents itself during your day, you\u2019ll be able to determine in a split-second whether to do it, delegate it, or dump it.<\/p>\n
And just remember that every time you say \u201cyes\u201d to one task, you\u2019re saying \u201cno\u201d to another (one that may have a more direct impact on your desired results). As an architect \u2013 a business owner \u2013 \u201cno\u201d should be your default answer to most things that demand your time.<\/p>\n
You\u2019ll need to master the art of delegating, eliminating, and simplifying. This is critical to reaching and exceeding your TVT. \u00a0In reality, there\u2019s probably a big difference between your TVT and the current value of your time (how much you\u2019re making right now). But simply having your TVT as a frame of reference is important when prioritizing and delegating tasks throughout your day.\u00a0It helps begin to create the gap between your time and money. The gap that means freedom.<\/p>\n
Regardless of your TVT, what are some of the tasks that may not be worth your time or the mental\/emotional effects (stress, frustration, tediousness) they have on you?<\/p>\n Below are some suggestions. As you\u2019re reading each task on this list, ask yourself if it\u2019s worth paying someone else $3\/hr to do it for you…<\/p>\n Marketing for Sellers?<\/strong><\/p>\n Marketing for Buyers?<\/strong><\/p>\n \u201cYes. All of the above, and more?!\u201d I know you said it. \ud83d\ude42 \u00a0Good. Let\u2019s outsource…<\/p>\n College Grads Who Work For $4 to 5 an hour, Love The Work, and Love You<\/strong><\/p>\n The \u201cvirtual\u201d in virtual assistant \u00a0simply means that delegated tasks don\u2019t require face-to-face interaction between you and whoever is\u00a0doing them. And in the Internet age, this describes most tasks. In fact, it\u2019s amazing the extent to which the Internet makes virtual business possible.<\/p>\n Virtual business is entirely possible.\u00a0Granted, with a real estate investing business, there are a few tasks where you need feet on the ground in your market. Putting out bandit signs, taking property photos, dropping off paperwork to a seller… all require a physical presence. It just doesn\u2019t have to be yours. In the next 30 minutes, you could use Craigslist to find a personal or virtual assistant to do these tasks for you. The Answer: Filipinos experience English from a very young age, and most speak it better than you\u2019d believe. English is MUCH more prevalent in the Philippines than it is in India, China, Pakistan, and other countries that are commonly recommended for outsourcing.<\/p>\n \u2022 \u201c$4\/hr seems like slave labor\u201d?<\/p>\n The Answer: Minimum wage in the Philippines is $2.50 an hour. Most virtual assistants with college degrees and real estate experience are happy to work for $4 USD an hour. Older virtual assistants with a higher level of experience are typically $5 -10 USD an hour.<\/p>\n Especially in the current global economic climate, whether at home or abroad, good talent can be had for less. Much less.\u00a0And in going overseas, to the Philippines specifically, the English and the economics simply work. It\u2019s the perfect outsourcing destination for an American real estate investor.<\/p>\n Recommended Sites for Hiring Virtual Assistants<\/strong><\/p>\n www.craigslist.org www.protmc.com www.VA4REI.com to use the same team of VA’s at $4 hour!<\/p>\n How to Hire My typical hiring process (for a site like Elance) goes like this:<\/p>\n 1. Post An Ad<\/strong> Wanted: Virtual Assistant with Real Estate Experience<\/strong> Please respond with your availability, samples of past work,<\/p>\n Also, notice I don\u2019t list all responsibilities. I just picked out some of the most tedious and complicated. If they can do the hard stuff, they can do the easy stuff.\u00a0If you mention all the easy tasks (monitoring your Facebook account, for example), applicants may latch onto those things and stamp themselves qualified, despite the fact that they have no idea how they\u2019ll complete some of the more challenging tasks.<\/p>\n 2. The Responsiveness Test<\/strong><\/p>\n Also notice I left out a few other things out of the ad, like compensation. This is intentional.<\/p>\n Say I put out an ad and get 50 applicants. I can think of about 900 things I\u2019d rather do than go through 50 r\u00e9sum\u00e9s trying to determine which applicant is most qualified.<\/p>\n So the very first thing I do is have one of my other VA’s email all 50 applicants with a quick response (if you don\u2019t have someone to do this for you, you can do it yourself… doesn\u2019t take long). The email can be short:<\/p>\n Thanks for responding about our VA opening! We\u2019re going through a ton of applications & we\u2019ll be making a decision this weekend. When can you start, and what rate do you bill at?<\/p>\n Their billing rate is important, but I don\u2019t really care how they answer my questions at this point. We can negotiate the rate later. What I\u2019m watching for here is simply responsiveness.\u00a0I want a VA who gets back to me within 20 minutes. Anyone who responds after 18-24 hours is immediately eliminated from consideration.<\/p>\n This little exercise will cut your applicant pool from 50 to 15. You\u2019ll be shocked. And you\u2019ll save hours that you would have spent sifting through 35 extra applications from people who are slow to communicate.<\/p>\n 3. Final Cuts<\/strong><\/p>\n At this point I, another VA, or one of our lead developers (depending on the position we\u2019re hiring for) will cut our list of 15 down to 3 top candidates, and I\u2019ll either communicate with those 3 via email or phone. Don\u2019t worry about responding to the other 12 either. They\u2019ve probably applied for a handful of other VA positions besides yours, so it\u2019s not a big deal if they don\u2019t hear back from you. Remember, your time is the most important thing here. I like to jump on the phone with the final 1-3 candidates because I want to see if I get a different vibe from any of them over the phone than I did via email. Picking up the phone is just a personal preference; you don\u2019t have to do it. ?I\u2019ll make these phone calls to no more than 3 candidates for no longer than 10 minutes per call.<\/p>\n 4. Trust Your Gut!<\/strong><\/p>\n Again, I usually hire more on gut instinct than I do on their paper qualifications. Not saying it\u2019s the best strategy in the world, but it works for me. ?Remember, if you mis-hire a $3 an hour employee (even a $10 or $15 an hour employee), it\u2019s usually not the end of the world. You\u2019ll be able to tell quickly whether your VA has what it takes or not. Keep your other top candidates in your back pocket just in case your first hire proves to be a flop.<\/p>\n If I\u2019m hiring a $60 an hour developer, I\u2019ll spend a little more time on the hiring process. But not for a Virtual Assistant.\u00a0It may be wise to have your VA sign a Non-Compete\/Non-Disclosure Agreement. Sometimes I ask for this, sometimes I don\u2019t. If it gives you peace of mind, do it. You can download an agreement for free from www.duncanwierman.com\/forms<\/a><\/p>\n Good training is essential.\u00a0Bad teachers can\u2019t blame their students for failing. Bad parents can\u2019t blame their kids for being ignorant. And bad business owners can\u2019t blame their VAs for incompetence.\u00a0Let\u2019s be clear here. Good training requires that you know what you\u2019re talking about.\u00a0It\u2019s extremely difficult to train someone on how to do something you don\u2019t know how to do yourself. And you can\u2019t shortcut the acquisition of knowledge or experience.<\/p>\n What you CAN shortcut is the transmission of your knowledge, and we\u2019ll help you with that below. In general, outsourcing a task involves:\u00a01. 2. 3. 4. 5. 6.<\/p>\n Recognizing a Repeatable\u00a0Process in Your Business<\/strong><\/p>\n Documenting that Process (either written or by video) Transferring Documentation to Your VA?Ensuring that the VA Fully Understands & Completes the Process Correctly the First Time Eliminating that Process from Your Mental To-Do List & Replacing It With a Task of Higher Value Receiving Periodic Reports from Your VA to Ensure the Task Continues to Get Done Correctly<\/p>\n In the own business. Feel free to copy and distribute within your business to your heart\u2019s desire.\u00a0following pages, I\u2019ll provide you with sample documentation you can tweak and utilize in your\u00a0documentation is meant to serve as a starting point. A template and guideline to get you started creating a Virtual Assistant Training Guide for your own company, with an overview of your business and instructions for each of the specific tasks you\u2019d like to outsource. About Us Let\u2019s not waste any time… We are a real estate solutions and investment company located in <Your City & State>. We\u2019re in the business of buying, managing, and selling houses, and the great thing about what we do is that we\u2019re able to help a lot of people in the process.<\/p>\n In our area today, houses are typically on the market for 5 months \u2013 and can sit up to a year or more \u2013 before being sold! For someone who needs to sell fast, a better solution is needed.<\/p>\n By purchasing properties fast at a reasonable investor discount, we can help save a homeowner: That\u2019s where you come in! ?<\/strong> We run the majority of our business in an awesome web application, which you\u2019ll be utilizing daily. Make sure you memorize this login information:<\/p>\n http:\/\/SITE ?Username: <Your Username> Password: <Your Password> ? Go ahead and login now. ?After logging in, the first screen you\u2019ll see is our dashboard. We\u2019ll need you to familiarize yourself with the entire interface, but…<\/p>\n <\/p>\n … First Things First Our business essentially follows the model ……. After you\u2019re finished reading it, please let me know and ask me questions about anything that\u2019s unclear.<\/p>\n Get Up To Speed<\/p>\n Next, please watch the Quick Start Video. You\u2019ll find it in t by going to In this video, we walk you through the process of adding your first lead, running comps, generating a contract, then emailing the contract out. This is a process you\u2019ll be doing every day, so you\u2019ll want to make sure you understand it well. Watch the Rapid Success Training That\u2019s basically the initiation process. I know it feels like a lot at once, but trust me, the hard part is over! Let\u2019s talk about your regular tasks…<\/p>\n To Be Completed Daily<\/strong> To Be Completed Weekly <\/strong><\/p>\n Time & Priorities\u00a0<\/strong><\/p>\n Feel free to set your own schedule. The most important thing is just that we\u2019re making a minimum of 5 offers daily. I\u2019d recommend creating a calendar now with your daily tasks for the next 30 days.<\/p>\n How to Contact Me<\/strong> Closing Thoughts<\/strong> I hope this Outsourcing Guide has given you more than a few \u201ca-ha\u201d moments and that it has opened your eyes to creating freedom through systems, automation, and outsourcing.<\/p>\n VERY few entrepreneurs can grow their businesses & thrive as lone rangers. Two advantages of going virtual are:<\/strong> ++++++++++++++++++++++++++++++<\/p>\n One of the most important things to finding & keeping a great virtual assistant is running a business with integrity. I know you may not put that in your blog because it seems like a given, but many people\/companies do not.<\/p>\n I would like to thank you for being a person with integrity and running your business the way you do. Here are 8 specific keys that are critical to finding & keeping the perfect VA:<\/p>\n 1. When you hire, decide the type of work you would like them to do and be very clear about your expectations. This will guard against a VA who is going to \u201cbalk\u201d at new assignments. If you need a VA who loves variety, challenge, and new assignments, make that clear up front.?.<\/p>\n 2. Decide how much time is needed up front. This goes along with the above, just to let the VA know what is expected of them. Clarity of expectations is crucial to a happy VA.?.<\/p>\n 3. Work closely with VA during the first few weeks to iron out kinks and predict potential problems. This is also important for you to get an overall idea of how the VA works and the VA gets a good idea of what is expected from him\/her. When I first started working for you, I have to say I had never had another employer pay so much attention to my work. In the beginning, I thought you were going to be over involved \ud83d\ude09 But as it turns out, the close involvement made me feel more confident in the work that I was doing for you and, when the time was right, you pulled back and left me on my own. I think this time was crucial to the work relationship that has developed.? 5. Set up regular tasks and systems they can count on. .<\/p>\n 6. Keep a manual on how to run your business. A good VA can manage this once she has a grasp of your systems.?<\/p>\n 7. Pay your VA on time. \u201cAs requested\u201d sounds like I could ask you to pay me at anytime and you would have to comply! Setting up a payment schedule and sticking to it definitely breeds trust and loyalty.?.<\/p>\n 8. Show appreciation to your VA. This one is necessary to keeping a VA happy. It doesn\u2019t have to be monetary, though the bonuses and thoughtful gifts I\u2019ve received are a nice reminder of your appreciation; a simple \u201cthank you for all you do\u201d once in a while really makes a difference. You have been great about that and I\u2019d like to say \u201cThank you”<\/p>\n ++++++++++++++++++++++++++++++<\/p>\n So there you have it.<\/p>\n At this point, we\u2019ve reached a level of trust where I\u2019m completely comfortable with our VA managing PR, running customer support, and paying herself bi-weekly through our Paypal account.\u00a0It takes time to reach that point, but it rocks to be there.<\/p>\n The bottom line, I would say, is that perfect VA’s emerge when you\u2019re the perfect boss. Work on yourself & your company culture first, and good assistants will not only come, but they\u2019ll thrive under your leadership.\u00a0And in return, you and your business will thrive.<\/p>\n","protected":false},"excerpt":{"rendered":" Many people ask me what should they outsource? \u00a0I say that you should outsource the most repetitive, tedious, and\/or unimportant tasks that someone else should be doing while\u00a0you focus on making offers! \u00a0 Before we can sort this out, we need a frame of reference. So let\u2019s take another quick step back. How do you … Continue reading Creating Your Outsourcing Plan<\/span>
\nOutsource-able Tasks for the Savvy Investor<\/strong><\/p>\n\n
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\nBut the majority of your business \u2013 most of the tasks listed above \u2013 can just as easily be run by Virtual Assistants in the Philippines for $4\/hour as they could by you or a local $25\/hour employee.<\/p>\n
\nObjections for hiring such a VA are usually Amero-centric and include:
\n<\/strong>
\n\u2022 I worry about English communication issues\u201d?<\/p>\n
\nOne of the Top 10 most visited websites in the world. Provides local classifieds and typically quick response for anything you\u2019d like to outsource.<\/p>\n
\nGreat service that provides dedicated closing coordinators to manage your transactions from contract through closing. An incredible time & energy saver.<\/p>\n
\n<\/strong> Keep the hiring process as simple as possible. In fact, if you have a husband, wife, friend, or current employee to do your initial applicant screening and just give you the top 3 candidates, do that. Hiring can be a huge time-suck, so remember your TVT.<\/p>\n
\nSomething to this effect:<\/p>\n
\nI\u2019m a looking for a full-time VA to help with my real estate business.
\n** Responsibilities Include **<\/p>\n\n
\n<\/b><\/li>\n<\/ol>\nTraining<\/h2>\n
\nVirtual Assistant Training Guide For <Your Company Name><\/p>\n
\nWelcome to <Your Company Name>!<\/p>\n
\nFirst, it\u2019s important for you to understand the full scope of our business, why we do what we do, and some of the important tools that you\u2019ll be using on a regular basis.<\/p>\n
\n\u2022 Agent Commission. This amounts to thousands of dollars.
\n\u2022 Repair Costs. We buy all houses in as-is condition.
\n\u2022 Time to Show the House. No need to schedule multiple showings every week and have their house ready on-demand.
\n\u2022 Negotiation Process. This can typically take days or weeks as offers and counteroffers are communicated through agents. We make a firm win-win offer and close fast.
\n\u2022 Stress. We can typically get a house under contract within 24 hours! \u00a0 We create solutions where everyone wins. We\u2019re the perfect option for many people, but to continue growing our business and assisting as many people as possible, we need help.<\/p>\n
\nWe need to make sure you understand the full scope of what we\u2019re trying to accomplish, and the best way to do that is to read our business strategy \/ model<\/p>\n
\nClassroom > Training & Tutorials > Quick Start Video.<\/p>\n
\nIt\u2019s best if you follow along and do the same steps we\u2019re doing in the video. Go ahead and add a lead. You won\u2019t break anything. \ud83d\ude42<\/p>\n
\nNext, please go through our 6-Week Rapid Success video training series. You\u2019ll find this at Classroom > Training & Tutorials > .
\nThese videos will walk you, in-depth, and provide further detail on our business. Again, as you\u2019re going through the videos, feel free to follow along in our web application.\u00a0It\u2019s important that you know our system \u00a0inside & out, but don\u2019t feel overwhelmed! You\u2019ll find that much of the app is self-explanatory.
\nOnce you\u2019ve watched all these videos, you should have a great understanding of our business. \u00a0At any time, you can pull down the video training bar for further help, or you can visit Tools > Virtual Classroom for Tutorials & Quick Tips.<\/p>\n
\nScreen Online Classifieds for Seller Leads
\n\u2022 Go to the <Your City> Craigslist site then click \u201cReal Estate for Sale\u201d
\n\u2022 At the top, search for keywords that signify motivation such as \u201cgreat deal\u201d or \u201cmust sell\u201d (include quotes around the keywords)
\nThe best leads for us are:
\n\u2022By-owner, not by-broker, but we\u2019ll still look at by-broker leads
\n\u2022ULTRA-motivated sellers (\u201cmoving out of state\u201d is motivated… \u201cmoving out of state because mom is dying and I\u2019m going bankrupt\u201d is ultra-motivated)
\n\u2022Single-family homes with 3 bedrooms, around 1200 square feet, block construction
\n\u2022 When you find a potentially good motivated seller lead, go to Sellers > Add Lead in our web application and add as much information as possible about the property
\n\u2022 If you have time or are unable to find enough quality leads on Craigslist, feel free to use similar sites such as Backpage.com, Oodle.com, Vast.com, or Kijiji.com ?<\/p>\n\n
\n
\nI typically check email twice a day, once in the morning and once in the afternoon. Please feel free to email me at <Your Email>. No question is too novice!<\/p>\n
\nNow\u2019s the time to outsource. \u00a0Post a job ad or start screening applicants right now.
\nStart finalizing the VA training guide for your business now. Remember, you only have to create this once.\u00a0Start placing a higher value on your time now.Start simplifying your life and creating freedom right now.You\u2019re in this business for freedom, and this is how you create it. No more excuses, just do it!<\/p>\n
\nThere\u2019s a point where you simply HAVE to start exercising only your strengths & outsourcing all your weaknesses if you want to grow.\u00a0Anything short of that & you\u2019ll be bleeding productivity every day.<\/p>\n
\n1. Cost-effectiveness. As applicants compete for positions on a global platform, small businesses win.
\n2. You can choose the best talent on the planet without being limited to your local pool. If you think about it, very few tasks actually require face-to-face anymore.<\/p>\n
\n\u201cHow to Find & KEEP the Perfect Virtual Assistant”<\/strong><\/p>\n
\n4. Don\u2019t throw a lot of last minute work at your VA. I think some emergency work should be expected, but throwing 8 hours of work at a VA and saying \u201cI need this tomorrow!\u201d is a bit much. If this is something that should be expected, make it clear upfront.?<\/p>\n