Growing a successful real estate business means growing a solid team. But many entrepreneur-investors struggle with hiring and don’t spend enough time developing key leadership skills.
So, what makes for a successful leader in the multifamily business? How do you decide what to delegate, communicate the vision for your business and help the people on your team excel?
Known as the CEO Whisperer, Cameron Herold is Founder of the COO Alliance and Second in Command Podcast, a coaching practice and training platform that helps C-suite leaders double their revenue in three years or less.
Cameron is well-known for engineering 1-800-GOT-JUNK?’s growth from $2M to $106M in revenue in just six years as COO. He is also the bestselling author of Vivid Vision: A Remarkable Tool for Aligning Your Business Around a Shared Vision of the Future.
On this episode of Financial Freedom with Real Estate Investing, Cameron joins cohost Garrett Lynch and me to explain what makes a successful leader, describing how a vivid vision helps leaders focus on the right opportunities and communicate with their team.
Cameron shares the activity inventory he uses to help leaders learn to delegate, challenging us to offload anything that’s outside our genius and free up our time for revenue-generating activities.
Listen in for Cameron’s insight on creating personal development plans for the individuals on your investing team and learn his FOCUS x FAITH x EFFORT formula for success!
How Cameron got involved in 1-800-GOT-JUNK?
- Met founder in EO mastermind group
- Joined team as COO (employee #14)
- Grew from $2M to $106M in revenue
Cameron’s take on what makes a successful leader
- Emotional intelligence, introspection
- Commitment to continuous growth
The biggest mistakes leaders make
- Lack of focus and failure to delegate
- Don’t grow/develop people on team
Cameron’s secret formula for success
- FOCUS x FAITH x EFFORT = SUCCESS
- Clarity to say NO to wrong opportunities
Why it’s crucial for leaders to have a vivid vision
- Can’t read each other’s minds
- Create description of company in 5 years
How Cameron helps leaders learn to delegate
- Start by hiring executive assistant
- Use activity inventory to categorize tasks
- Offload anything outside your genius
Cameron’s response to ‘I can’t afford to delegate’
- Frees up time to work on generating revenue
- Cut costs in other areas of life
Cameron’s best practices for developing your team
- Determine ‘ideal future state’ for individual
- Reverse engineer personal development plan
What to do when a new hire has skill deficiencies
- Retrospective on how hired person
- Find flaw in interview/onboarding process
Cameron’s advice on finding the right partner
- Choose someone you trust implicitly
- Agree on roles and responsibilities
Cameron’s approach to building a business
- Build in work-life integration from get-go
- Build-to-sell vs. legacy business
Connect with Cameron Herold
Email [email protected]