In wholesaling, there are many components and moving parts, such as marketing, acquisitions, dispositions, transaction coordinating, networking, property inspections, and more. Handling all of these jobs is difficult for any one person. This is where strategic partnerships come into play.
This was difficult for me because growing up, I had to know a little about everything in order to be successful. Growing up on a farm, we didn’t hire out — we figured it out. This philosophy was challenging to me, and later in life, I realized the many flaws with this concept. I’ve learned the importance of focusing my attention on my areas of strength, just as we all should. This is not to say we must ignore our weaknesses, but if we can find someone who can do the job better, then we should give that person the latitude to excel in that area. Trust me, it will benefit you both.
A Partnership Can Move Your Business Faster & Further
Effectively using the power of a partnership will push you along your journey a lot faster, and you can go a lot further.
This may be difficult in the beginning because of your limited knowledge of wholesaling, but you have to use everything to your advantage. You have to use what you do know, along with what you don’t know. If you ask any professional, they will stress to you the importance of partnerships and mentorships.
One of the most powerful tools to help you along your journey to becoming a successful wholesaler is self awareness. By conducting a self assessment, you will gain a clear picture of what you have and what is needed. Once this is completed, you can use your findings to attract that person who has the knowledge base you seek. I am a firm believer that everything you need is locked in someone else, and you have to ask the right questions to get what you need. If your counterpart is wise, they will seek the same from you. Don’t get me wrong — it is not easy finding this person, but it is not impossible. The laws of attraction will become evident once you know what you need — then you can attract it to you.
Related: 4 Key Traits That Define a Good Employee or Business Partner
Being Tenacious in Getting What You Need
Again, evaluate what you’re good at: If you’re good at talking with sellers, continue to develop that skill and enhance your public speaking and negotiating. If you’re great at marketing, work on this area and let someone else speak with sellers. Or you are very analytical, then you…