Reduce Waste And Costs In Your Business And The Gap and The Gain

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Welcome To The Business Of Wholesaling Newsletter!

Every week, we’ll be sending you strategies, tactics, and tools used by successful wholesalers and we’ll cover any important market insights and news in the industry.

Here’s what we got for you today:

• Reduce Waste And Costs In Your Business

• The Gap and The Gain

Looking To Hire An Acquisition Manager?

Are you doing at least $15,000 a month and looking to scale?

To do that, you need a team. And one of the key team members you’ll need is an acquisition manager.

We all know how time-consuming (and frustrating) hiring can be. So why not let someone else do 90% of the work for you?

Our friend Auctavius Bennett and his company will source, screen, and interview qualified acquisition managers for your company.

You do the final interview and qualification. And if you offer them a role, then Auctavius and his team will personally train your new acquisition manager before they start working for you. That way, you get an actual pro who’s ready to get started.

Recently, one of Auctavius’s clients brought on a brand new acquisition manager. The guy managed to close 5 deals in his first week!

For Business of Wholesaling subscribers, you can get a special deal of $500 OFF today when you get started with Auctavius and his team. Just click the link below to get started.

Reduce Waste And Costs In Your Business

Toyota revolutionized the car manufacturing industry with their “Just-In-Time” (JIT) system. 

The philosophy of this system is based on eliminating all waste in pursuit of efficiency. 

So when a vehicle order is received, the instructions are delivered and understood by everyone involved. All the parts required are already available and ready to go. And the assembly line has its roles. 

You could apply a similar concept in your business to reduce costs and improve profits.

In an episode of the Business of Wholesaling podcast, Sammy Colon discusses how the power of SOPs significantly improved his business.

At one point in his business, Sammy was in charge of a big team that  included 18 interns. The only problem was that payroll was $40K+ a month. 

Now if you’re operating efficiently and predictably, this might not be a problem. But to keep that level of operation can be scary.

But when Sammy started implementing SOPs in his business, he came to a massive realization.

Sometimes there were multiple people doing a job that one person could do. 

And with SOPs, there’s no need for him to be involved in every little day-to-day activity.

As entrepreneurs, sometimes we can get lost in the weeds. Things eventually get done, but there’s always a more efficient way. 

The more time we can free up, the better. Being busy does not always equate to productivity. 

So how would you get started in creating SOPs?

For tasks you are currently responsible for or looking to hire for, sit down and document the entire process. 

It doesn’t need to be perfect because you may find a more efficient way along the way. 

Think about things you can templatize. 

For example, an obvious one is to create a sales script for new cold callers. Or a list of responses to common objections. 

Create email templates for follow-ups. Easy copy and paste for acquisition managers to follow-up with leads. 

I understand that sitting down to document all of this stuff is not the high energy activity that most entrepreneurs crave.

But this is how you build a well-oiled machine. When someone new joins your operations, they understand the instructions and have the resources necessary to get going.

Just like Toyota. 

We recommend creating both written and video SOPs. PDFs and quick Loom videos will go a long way.

The Gap and The Gain

This concept comes from Dan Sullivan’s book The Gap and The Gain. 

When you’re in “The Gap”, you’re in a state of lack. You don’t see growth, you only see how you’re not measuring up to the perception of where you think you should be.

When you’re in “The Gain”, you’re in a state of wholeness. You’re operating from a mindset of not needing anyone’s approval and you’re focused on growth.

All of us have been in The Gap at some point during our entrepreneurial journey. 

We set these big goals and put all of our focus on achieving those goals by a certain timeframe. 

But by only focusing on the end goal, we miss the journey along the way. We miss all of the small wins and growth that is happening in the present moment. 

A lot of newer entrepreneurs struggle with this. It’s mentally taxing to not see any tangible progress toward a goal.

But that’s because you’re measuring where you are now and the end goal. And if you’re not at the end goal, there’s an obvious gap. 

We hear sayings of, “The journey is the destination,” or “Trust the process,” – but it’s easier said than done. 

How do we take a step back and focus on the journey? Here’s a simple exercise from Dan Sullivan’s book.

At the end of the night, write down 3 wins you had for the day.

Doesn’t have to be business-related. It could be things happening in your life. 

After writing down 3 wins for the day, write down 3 wins you’d like to accomplish the next day. 

Keep it to 3. We’re not trying to create another to-do list. We’re documenting growth, not creating responsibilities. 

This exercise brainwashes your mind into believing you’re constantly winning. You experience more gratitude.

And who doesn’t want to feel that way?

That’s way better than operating from a state of lack and stress.

There’s growth and progress happening and now you’re just becoming aware of it. 

Thanks for reading this week’s issue of the Business of Wholesaling. 

We’ll be back next week with more marketing & sales strategies, market insights, and other advice you can use to grow your wholesaling business. 

See you next week.

Team Business of Wholesaling