Business
Getting leads is critical to your business’ cash flow, but knowing which properties are profitable is just as important. This is where establishing acquisition systems come into play. You have a team and tools to help manage your acquisitions, but those are just parts of a bigger machine. How do you make sure each section runs smoothly? How do you know what kind of acquisitions systems to use for your business style? Today, Don and Ryan share their wisdom when it comes to building an efficient acquisitions system and successfully implementing it. They discuss the conversion numbers that matter in evaluating your profits and the paperwork involved. They describe some examples of acquisition systems and explain the ones they use. They also share some of their favorite books that helped define the way they manage their business today. “Realistically you can run a business and take nothing home if you're not managing your business properly.” - Don Costa This Week on FlipTalk’s Rookie PlayBook: Our latest business updates. Rounding up how much your business actually makes each year. How a business owner should act when it comes to managing their finances. Setting standards for your acquisition requirements. The systems you have to establish for your acquisitions team. What "follow-up" truly means and how to do it properly. Resources Mentioned: Never Split the Difference by Chris Voss The Light Switch by James Moore How to Win Friends and Influence People by Dale Carnegie Rich Dad, Poor Dad by Robert Kiyosaki The Dichotomy of Leadership by Jocko Willink Can’t Hurt Me by David Goggins Rate, Review, Learn and Share Thanks for tuning into Flip Talk’s Rookie PlayBook podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don’t forget to tune into the Flip Talk Podcast and share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry. Join the community of Flip Talk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.