Jul 12 2020 29 mins
RESOURCE LINK
1. The HMO Experience Website (http://www.thehmoexperience.co.uk/)
2. 11 Steps to Running your successful HMO Property Business and other resources (http://www.thehmoexperience.co.uk/resources-page)
3. Sign up for weekly hacks and tips for starting and scaling your HMO Property Business (https://www.thehmoexperience.co.uk/subscribe)
IN THIS EPISODE
Are you looking to scale your HMO property business? Do you have the right foundations in place to help your growth?
Your podcast host Matt Harris of MiRentCo London chats with Jamie Madill of Jamie Madill Property about the essential process and procedures you need to have in place in order to grow your team and scale your HMO property business.
If you’re looking to systemise your HMO property business and build your team as you prepare to grow, make sure you listen to this episode of The HMO Experience Property Podcast.
EPISODE HIGHLIGHTS
Introduction [00:00 – 03:15]
Why Should We Systemise Our Business [03:15 – 13:20]
What Standard Tasks Can You Outsource [13:20 – 22:40]
Where Do I Start? [22:40 – 25:30]
How Do I Hand Tasks Over To My team [25:30 – 28:38]
KEY TAKEAWAYS
- If you want to scale your business think about setting up your systems and processes early on so that you can benefit from the efficiencies of standardising your business form the beginning
- Start by making a list and mapping out your business step by step; going into as much detail as possible, so you get the overall picture of what happens in your business
- Your goal is to ensure that you focus on the high value tasks of revenue generation and business performance and task the lower value actions to members of your team
- To identify what tasks you should focus on. Calculate what your personal rate per hour is and anything that is less you should look to task to a member of your team.
- Hand over tasks to your team members in bitesize chunks to ensure that have understood and know how to complete the task accurately. Handing over a task with no training will result in that task coming back to you prematurely or complete task failure.
BEST MOMENTS
“The sooner you do this, the better and more resilient your business will be, the more profitable it could be if you do this well, and you can get your time back, which is much more important to many, many people."
"The ideal scenario is that you keep yourself in the sort of central function of overseeing the business, but all the other tasks are leveraging out from the people"
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CONNECT WITH THE HOSTS
Matt Harris - https://linktr.ee/iammattharris
Jamie Madill - https://www.facebook.com/jamiemadillproperty/
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