There are so many factors to consider when deciding to scale your real estate investing business. From the right timing to making the correct hiring decisions, the different moving parts necessary to scale can certainly feel overwhelming. Luckily, we’ve brought Bob Fraser, whose superpower is scaling businesses, to talk with us today. In this episode, Bob walks us through what it takes to scale a business. He sheds light on the importance of treating investors as you would want to be treated.
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It is critical to be transparent and communicate in good times and especially the bad ones. Investors will generally not be upset about delayed returns or other hiccups as long as they are kept in the loop. We also talk about fostering other relationships and treating people well. Bob then walks us through hiring the correct people to help you scale. While it is easy to recruit people for low-skilled work, to scale to a high level, you need to hire experts. Naturally, this is scary because of the increased salary expectations, but Bob talks about the benefits and also gives us some recruiting tips. Bob’s insights, as usual, are incredibly valuable, so tune in to hear more!
Key Points From This Episode:
- Learn more about Bob’s background and how he learned about scaling businesses.
- Treat your investors like family heirlooms: Bob’s number one tip for scaling business.
- Some ways that Bob communicates with his investors and examples of putting them first.
- Find out more about the three constituencies you need to treat well in order to scale.
- The importance of the right team and insights into Bob’s vetting and hiring process.
- Differences between working on your business and working in your business.
- Why it’s important to have the financial acumen to scale from level one to level two.
- Bob’s top tips on recruiting high-level talent and tailoring jobs to people’s needs.
[bctt tweet=”You take care of your investors, and you nurture them. You treat them like family heirlooms. They keep coming back and they keep bringing their money and they bring their friends. — Bob Fraser” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Bob Fraser
Bob Fraser has 20+ years’ experience as a finance and technology executive, is a Magna Cum Laude U.C. Berkeley computer scientist, and a former Entrepreneur of the Year Award winner. He is responsible for financial management, portfolio modeling, systems and processes, and designing and deploying a scalable state-of-the-art back-end platform at Aspen. In 1995, Bob founded NetSales, Inc., a back-office e-commerce provider. As a CEO, he raised $44 million in investment capital, and guided the company to an average of 20% month-to-month revenue growth, becoming the metro area’s fastest-growing company between 1997 and 1999. Since 2002, Bob has founded and served several non-profit organizations as a board member and CFO. He has also been involved in a number of entrepreneurial initiatives, including book publishing, financial consulting, and being an investment fund managing member. In 2012, he co-founded Aspen Funds, a fund management company focused on mortgage investments.
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