Balancing Starting a Deal Packaging Business With a Family and a Full Time Job
For many of us, setting up a deal packaging business can be a daunting proposition, especially when a natural level of doubt or ‘inner chimp’ (on the fly book recommendation - The Chimp Paradox, Steve Peters) begins to creep in: after all, how can I compete with those who do this full time? How can I do my job as well as this? Will people think I am a charlatan because I am doing this as a side hustle? Where do I find the time in between making dinner and reading Mr Tickle to my youngest and strumming up new business on social media?
Much of this is undoubtedly mindset. When @Rob Moore from The Progressive Property Community commented on my previous blog post (see the blog section of my website), it got me considering mindset challenges, especially those initially seemingly unbreakable barriers we all face when starting out in our so-called ‘spare’ time. To echo what Henry Ford said and Rob reiterated; ‘whether you can or you can’t, you’re right’.
Aside from the requirement of a strong growth mindset (for more on growth mindset, read the queen Carol Dweck’s book ‘Mindset: Changing The Way You Think To Fulfill Potential’). I wanted to consider some practical tips that helped me and hopefully help you so you don’t need to block out an arbitrary ‘10 hours per week’ .
A Foundation of Systems: Invest initial time in platforms which you will consistently use or signpost people towards. The main aspects being your website (which can be something as simple as Wix) and a social media presence (all of the obvious ones as a starter for 10) but may be saved searches on PropertyData or maybe setting p a property feasibility spreadsheet on excel for the deals you find: it does take a little time to set these up professionally but once they are done, they will ultimately be the tools you constantly use, the face of your business and the first touch point your client will see. The obvious beauty of these is that they can all be done using your phone so you can promote and have an unhealthy relationship with Rightmove to your hearts’ content!
A Family Affair: Undoubtedly so, new businesses require support from those who you reside with. The mistake I made early doors was not being up front with the future Mrs Harrison - she wondered why I spend most evenings on a laptop (I know what you’re thinking!) and the lack of transparency in this area negatively impacted my relationship and the ability to start up a successful business: Keeping her in the loop and blocking out time into the family calendar (as a non-negotiable ‘appointment’) really helped my family know when I needed time to execute tasks. Most recently, it has in fact been my partner that has now embraced the social media side of my businesses and even began to manage the company inbox - when she saw how passionate I was and the positive impact she was having, the more willing she was to support the cause (and she couldn’t give a monkeys about bricks and mortar!). Oh and always remember to give a bit back when you’ve taken so much - life is too short.
‘Working Lunches’ and ‘Bookend’ Your Day: I used to use my lunchtimes to create a social media post, call an estate agent to arrange a viewing or email my mortgage broker - daily, I easily bought 30mins a day. In addition, I went into work early and left an hour late and used those two hours to work on my deal packaging business - the beauty of it was, all of my colleagues thought I was working harder and longer than ever (ironically, I was promoted more during this time too!). In these two moves alone, there’s two hours of business focus you didn’t have yesterday. Also, if you do a lot of travelling or even driving in your job, it is the perfect time to do admin, or at least make phone calls; building rapport with clients, vendors and other stakeholders - cultivating positive, meaningful and fruitful relationships
Work Your Days Off and Buy Time: Some of your days off will undoubtedly need to be taken up with running your business (on these days point ‘B’ is more relevant than ever) - use your time wisely by booking viewings on an evening, block-book multiple viewings within the same geographical location on the same day. In addition, make your evenings as lean as possible - is there something you are currently doing that is providing suboptimal contribution to your primary goal that can be reduced or removed? Can you sit with a laptop on your knee when ‘watching’ Love Island? Can you contribute towards a forum post whilst the kettle boils? There are gains to be had everywhere, it may just require conscious effort until it becomes habitual.
Ultimately it is the marginal accumulation of doing the above on a consistent basis (do at least one thing to do with your business every day) - I’m certain if you did the above, then totalled the hours invested, it will be surprisingly substantial. And there is no time like the start of a new year to deploy and embed these changes.
One thing to me mindful of is the importance financially and morally not to jeopardise the ability for you to do the job you are currently being paid to do: maybe there is scope in your job to slowly transition over to your property business full time? Maybe you can reduce the number of days or re-jig the days or shift patterns you work? Either way, if you desire it enough you will restructure your life with the big dream in mind but don’t forget what income stream is currently paying the bills…..for now.
Ultimately my biggest advice is to initially start and continuously do. Art Williams (American Insurance Executive) says this better than anyone at the 1987 National Religious Broadcaster Convention.
If you guys have any other useful tips you guys have got, please comment! Equally, if you can think of any other topics you wish me to start a chat about, just let me know!
Happy New Year! Just Do It!
Lloyd
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