WS1276: How to Build a Team that Functions Without You | David Choi

David Choi is back on the show to talk about building a team that functions without you. David is a seasoned real estate professional, serial entrepreneur, and expert in finding off-market deals. In this #TechandTacticsTuesday episode, David will talk about how hiring an EOS implementer has helped him regain time for his family and friends while he continues to scale his business.

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David will also speak on how he created a culture within his business that gives every team member massive ownership and pride in what they do. He’ll share some of the fun traditions they have in the office like the “Big Cheese Award” that makes the people feel appreciated for all their hard work.

Key Points From This Episode:   

  • David recalls how bad his situation was four years before he started to implement the EOS.
  • David talks about hiring an EOS implementer and how it helped him and his company.
  • David goes into detail about creating an accountability chart, setting up goals, and going through the entire heartbeat of the company.
  • David mentions they were understaffed and shares how they fixed that problem.
  • How does David makes his team feel appreciated?
  • David talks about the “Big Cheese Award.”
  • David mentions a very important trait that a leader must have.
  • David talks about a level 10 meeting template.
  • David talks about his hiring process and how he scaled to 100 employees in four years.
  • Is hiring an EOS implementer worth it?
  • David talks about his daily habits.
  • How does he like to give back?

Tweet This!

“We started off just really empowering the people, creating a culture that gives every single team member massive ownership and pride in what they’re building.” [00:14:19]

“As a boss, you really need to be humble, you are nothing without your people.” [00:18:16]

“If you’re like me and most visionaries and entrepreneurs, you are like so bad at organizing and being disciplined, and that was me, so having someone come in and just shove infrastructure down, it helps a lot, and I do not regret getting one.” [00:26:17]

Links Mentioned in Today’s Episode:

David Choi’s personal website

David Choi on Instagram

David Choi on Facebook

David Choi on LinkedIn

WS1255: Sourcing Off-Market Commercial Real Estate Deals with David Choi

The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber

The EOS Life: How to Live Your Ideal Entrepreneurial Life (The Traction Library) by Gino Wickman

Building an Elite Organization: The Blueprint to Scaling a High-Growth, High-Profit Business by Don Wenner 

The WealthyWay Planner

About David Choi

David is a seasoned real estate professional and serial entrepreneur. Before starting his fully integrated real estate company, David worked for some of the largest development and private equity companies in the country, including Hampshire and Kayne Anderson. David has been involved in the management of private equity portfolios of over $2 Billion AUM and has personally been involved in thousands of real estate transactions. David is an expert in the syndication of capital and creative financing to assemble deals with unconventional and unique capital structures.

Through his extensive experiences in real estate, on both the debt and equity platforms, he was able to find inefficiencies in the traditional acquisition and deal sourcing processes. In 2017, he began developing a proprietary deal sourcing platform, using a data-driven approach to sourcing and acquiring deals on a national level. Presently, he’s the CEO of Leverage Companies and is actively purchasing, renovating, renting, and/or selling over 100 properties a year. David is also one of the founding partners in Leverage Capital Ventures, a Private Mortgage Origination company, originating over $100+ million in real estate bridge financing in its first year.

David graduated Cum Laude with a B.S. degree in Finance and Real Estate from Rutgers University and is an alumni member of the Rutgers Center of Real Estate Studies.

Full Transcript

EPISODE 1276

[INTRODUCTION]

0:00:00.0 

David Choi (DC): When I first started this company, the man that I was four years ago and the man that I am today, it had to change. I didn’t praise enough; I was putting people down. I didn’t empower them to take ownership, and those were traits that I had to quickly destroy in myself, and the ego needed to die, otherwise, the business was gonna die, right? And so, we started off just like really empowering the people, creating a culture that gives every single team member massive ownership and pride in what they’re building.

0:00:33.0 

Whitney Sewell (WS): This is your daily Real Estate Syndication Show, I’m your host, Whitney Sewell. We have a fun show for you today, and it’s a repeat guest, David Choi. He’s a seasoned real estate professional, serial entrepreneur, we just had email and we launched the show with him on March 29th, which I would encourage you to go back and listen to.  He’s an expert in finding off-market deals, and we covered that there, but he mentioned a few things that made me want to have him back. One of those things, one big thing that caught my attention was building a team that functions without you. It’s something that myself and our leadership and our team have been working on right now and trying to implement things that help us to function or as a larger team, we’re hiring and we go through today how David used EOS, how he implemented EOS and some tips and things that have helped him to go from working 80 to 90 hours a week. He said he gained 45 pounds, his relationship with the Lord was going downhill, just no time for friends or family at all, and then he tried to implement traction couldn’t do it, set goals they couldn’t hit. And they hired an implementer and things started to change. 

Now, he’s taking out his girlfriend once a week, he’s taking out his mother once a week, he talks about he has so much time on his hands now, and just how things have changed, and he went from two employees to 100 and so just an incredible story, you’re gonna learn a lot, and I hope you’re gonna be motivated to take action on implementing process like EOS. There’s other ones out there that are very good also, and the biggest thing is that you do it. And so I hope you are encouraged and you take away a few things from David today that you can start right now with your team that’s gonna help you to have more breathing room, right, have more time with some friends and family, but while you’re a business team, they don’t suffer, right, because you’re not there. So, you have to learn to implement some things, so the reel keeps turning even when you are not there, pushing it forward, encouraging your team, and setting them up for success in so many ways that you’re gonna hear about today.

[INTERVIEW]

0:02:34.0 

WS: David, welcome back to the show. We recorded a show that came out on March 29th, we were talking about numerous things but ultimately, we talked about sourcing off-market deals and how you have successfully done that, there’s some of the systems that you created that were so impressive, I know the listeners learned a lot from that. But you mentioned a few things that I wanted to come back to because it’s so worth spending time on this topic that we’re gonna go into today, because myself and my team are in the middle of this as you and I were talking before we get started, committing more time to this topic. But you’ve done it and you’re reaping benefits from that now, and so I just wanted to dive into that and pull some of that from you so the listeners are motivated to do this as well. But ultimately, the last time you taught, you briefly mentioned building a team that functions without you. When we talked about briefly hiring a little bit, I wanna get into that, but building a team that functions without you, that’s hard to even comprehend to most entrepreneurs, right, or people that’s been operating a business for a while, ’cause so much of the time we’re like, I’ve just gotta be there 10-15 hours a day, every day to keep the wheel going right? I can’t miss, I can’t not be there. And it’s hard to see light, it’s hard to see a different way, or handing those things off that, hey, that I feel like I have to do. So I wanna jump into that. David, welcome back. Let’s jump in.

0:03:38.7 

DC: Thanks for having me, Whitney. It’s always an honor to see you be here and hopefully, I can add as much value as you’re hoping to your listeners today.

0:04:04.0 

WS: No doubt that you will. Let’s talk about like how did you do that? Tell us the system that you used, and most of the people are gonna be familiar with this name, but tell us a little bit about what led you into doing that, maybe give us a little picture of before and after as well, so the listener can, you know, like what did this do for you, and then let’s jump into how you did it as well. 

0:04:24.0 

DC: Sure, so, well, I’ll just give you a background. My mom’s a first-generation entrepreneur. Dad’s a first-generation entrepreneur, and now he’s a missionary, I’ve been going to small churches, being actively involved my whole life, so I’ve seen what it’s like to be a first-generation entrepreneur, and typically, I could just say all my uncles and aunts, they’re first-generation entrepreneurs. So, I’ve seen them all just work to the bone like waking up at 3 a.m. not sleeping until 9 p.m., just working around the clock. And as I got into the business, I said, no way. I’m second gen, I got technology, I wanna figure out how to do it without being stuck in the business every single day. So, I started off reading books like E-Myth and I was like, oh, I wanna figure this out I got this. But once you jump into the trenches and you start building that business, you start realizing that it’s a lot harder than it’s let out to be. So, I started four years ago, working 80, 90, 100 hours a week. Gained 45 pounds. Became very overweight. My friends, my family, they never saw me, my relationships and my health, but my relationship with God was just going downhill. 

0:05:39.1

DC: And about a year ago, we read the book traction as a copy of leadership team. And so we started putting forth an effort to really building out the systems to build a business that operates on accountability, right? There we go. There we go. Traction. 

WS: Picking up the book. I wanted to hold it up so the listeners, especially on YouTube, can see it as well, Traction. I highly recommend starting at least reading that.

0:06:07.0

DC: Absolutely. We started reading the book, Traction, and we try to implement it. It took (inaudible), but we kept setting goals that we weren’t hitting successfully. And eventually we joined the mastermind group, and in this mastermind group, they introduced us to a EOS implementer. Right? And I actually texted him yesterday, I said, “Austin, you have no idea how much the quality of my life has improved since you came in and helped us.” I’m spending more time with my family, I’ve had a better relationship with God, my health is improving, and I so deeply believe in the EOS that I’m actually consulting churches pro bono on Saturdays. I’m like, Pastor Ching you need to implement the EOS because church is just an under-staffed under-funded business, right.

0:06:56.8 

DC: It’s incredible what they do when you see the inner workings, but they’re running it, and typically the pastor is just running himself to the ground, and it’s really sad to see, so yeah, it works for any business, it works for any person, and now that I’ve implemented the EOS man, everyday I got time to work out, I got time to listen to worship music, pray, read the Bible, journal, I mean, meditating for 30-45 minutes a day. I’m spending time, I got date night with my girlfriend, taking my mom out to the spa once a week. I go to church. It’s intentional and it’s blissful. I’m living an amazing life, and so I gotta give it to Austin (inaudible). He really did amazing work implementing the EOS at my company.

0:07:45.1 

WS: I appreciate you painting that picture for us, ’cause I mean, you did like four years ago so you were doing 80-90 hours a week, gained 45 pounds, your relationship with the Lord was going downhill. You mentioned, I mean, just like all this stuff, no time for friends or family. Right? I’ve been there for many years myself, especially early on, but then you learned about Traction, and I appreciate you shedding a little light there too, is that you all tried to implement it, sounds like you set goals that you couldn’t hit, and then all of a sudden you joined a mastermind, you’re introduced to an EOS implementer, and maybe we’ll talk about that a little bit, but somebody comes in ultimately and helps you to implement these systems, right, and calls things out, points things out and asks good questions. It’s interesting having that third party looking into your business, right, and probably asking difficult questions of you and your team. But now you’re working out, you’re praying, you’re reading all these things, your date night with your girlfriend, even taking your mother out once a week, that’s incredible, right? Who gets to do that? Right? I wish I could do that for my mom. That’s incredible. So you implemented this program. Speak to hiring this implementer and how you determined, okay, this is a great route for us, but then what happened then, how long did that take, what were some of the things this implementor did that helped you to be so successful doing this?

0:09:02.1 

DC: So, he came in, it was one day, an eight-hour session with your leadership team. We started off, he built out an accountability chart. An accountability chart is an org chart with the hierarchy of positions, it’s literally the role that they’re in, who that person is and what they’re responsible for doing throughout the organization, and when you look at an accountability chart, you literally see all the functions – the to do’s, the roles, the hierarchy, the person that’s in that seat throughout your organization, and you’re like, wow, okay. So this person is responsible for this, this person is responsible for this. So there’s no more David coming in to save the day when this happens, right, it’s this person comes in. Right? It’s no longer the CEO, it’s the COO’s job to handle this. So, we started out, it took a while to build that. It was probably like a two-hour exercise.

0:09:56.9 

WS: I’m surprised you can get that done in two hours, but, go ahead, that’s awesome.

0:10:00.7 

DC: I just did it for the church and it took five hours, so it’s definitely not easy, but since he’s already a implementer and he alread have the chart, yeah, he knew, this-is-a-template-that-you-should-use-for-this-type-of-business kind of guy. So, he came and we plugged and played. So, you build out the accountability chart, and what you do is then you start setting up your goals, right, you gotta start thinking in 10 years. You start thinking 10 years, seven years. When you think one year, you over-estimate what you could do in one year and you underestimate what you could do in a decade, right? And so you put that big, hairy, audacious goal right ahead of you, like “This is what I wanna accomplish seven years from now,” and it should be so big and exciting that it makes you kind of nervous, right? Then you work your way back, you do your three-year, then you do your one-year, and then you find out what in that one year, what kind of team you need in order to accomplish your one-year goal, your revenue goals, then you work your way back into 90 days, and then you start setting up your metrics, well, before you go through your 90, you set up your wildly important goal and for us is this wildly important goal was filling our all-star roster because we were understaffed. So, the first 90 days we set up goals and you literally go through the entire heartbeat of the company, from top to bottom, right? From lead generation to contract sends, to contract signs, just literally work with, to closings and every aspect of the business.

0:11:36.0 

DC: And you create what’s called the spotlight report and it basically gives you a week over week understanding of how your business is doing based on its key metrics, right, so you identify what those metrics you want that you wanna track, quantify the targets, and week over week, you measure them and you talk about them so you start getting an understanding of what’s going on in the business, even if you’re not actively involved in that department as the owner. You could stop me at any time I could keep going if you (inaudible). 

0:12:11.0 

WS: No, this is good stuff. Unfortunately, we don’t have time to go into every detail this implementer did for you. And I wish we could, but ultimately, they’re getting very granular, right, they’re diving into details that you may know, but you haven’t really written down, sounds like, right? You have it written down, but they’re also making these things clear to the entire team, which is often not clear, right. It’s, unfortunately, many team members do not know what other team members are responsible for, or even worse, what they’re responsible for. And so then as a CEO, you’re upset or you’re frustrated it maybe something’s not done, but then oftentimes that employee they’re not even clear that they’re the one responsible for it, right? It’s great just to hear this, I mean, accountability chart, that alone would help numerous things, right, in ensuring that everyone knows what they’re accountable for and then setting up, you know, ways to hold them accountable, right, and even follow up on those things. But even this 10-year goal, but I like how you said thinking about that 10-year goal, but then what kind of team do we need to even achieve that? And you mentioned that you were understaffed, and I would say we have been understaffed for a while now and are working on that, we’re in a big hiring spree now, but tell me a little bit about you recognize that you’re understaffed, what helped you to see that, and then what did you do to fix that?

0:13:31.5 

DC: It was getting your leadership team feeling comfortable with speaking up. Sometimes I’ll tell you when I first started this company, the man that I was four years ago and the man that I am today, it had to change, right? I was a tyrrant, I was a monster, I was a horrible, horrible leader. I thought I was a great leader because I was always a captain of my football team, I was a captain of my wrestling team, I was always a president of the clubs in college, but when it came to owning a business, I mean horrible leader, right? I didn’t praise enough, I was putting people down. I didn’t empower them to take ownership, and those were traits that I had to completely destroy in myself, and the ego needed to die, otherwise, the business was gonna die, right? And so we started off just really empowering the people creating a culture that gives every single team member massive ownership and pride in what they’re building, right? They have a vision, we have a vision and we’re going to the goals, and we’re gonna make sure you feel appreciated every single day. And so creating that environment allows your leaders to really speak out the truth, and so when we started talking about who we’re missing, where we need help, everyone started speaking up.

0:14:52.9 

DC: It became very, that was probably the quickest portion of the meeting where we said, “We need three people here, two people here, one person here,” and we broke down each department, each role, and how many seats we needed the fill for each one, and it was like a 15-minute exercise, we knew what we were missing.

0:15:11.1 

WS: Wow, you created that space for that, for your current employees to speak up, who are probably being overworked and say, hey, I need some help here. That’s so interesting. Yeah, I think at that moment as a CEO or owner founder or whatever you wanna call yourself, it’s like oh, right. Wow, okay. I wanted to touch on, you said culture and more and more people are diving into how to build culture ’cause it’s so important, and we were working on this constantly, you mentioned the feeling appreciated every day. Give us a couple of tips on that, I agree, it’s so important and we’re trying to improve that as fast as we can internally, ourselves, and oftentimes people are, I think I read this morning in a book that you said people come to a business because of culture, but they leave the business because of a boss, but it’s like they can be attracted by culture, is what I wanted to highlight there, you can attract great people and many of our employees now came to us because of what we stand for or what they’ve heard about our culture, and I love that. How do you do that? How do you help your team to feel appreciated every day, like you said? 

0:16:25.6 

DC: One easy way to get started is start every meeting, and just give five minutes to like, the morning meetings, Monday morning meetings, where everyone gets together from department meetings to level 10 leadership meetings, you start off and you just start praising each other what you’re grateful for, personal and business, like, good news, right, and you just, you just start every meeting off in this environment of gratefulness and praising one other, and you really just start to see a shift in how the meeting starts. Another thing that we do is the Big Cheese Award. 

WS: Is this a David thing or is this an EOS thing?

0:17:06.3 

DC: It’s not even a me-thing. It’s Sam, Samuel Dogby, he’s our first hire ever, he’s actually partner now, he’s a Nigerian. In the Nigerian culture, they go “Cheese!” to celebrate victories. And so we created a big platter with big cheese on it, and we actually hand it out once a week with a $50 Amazon gift card for the team member that really embodies our company’s core values, and so it’s just how we start every Monday, and it’s just been an awesome tradition that we do that really makes sure everyone feels appreciated for all the hard work they do.

0:17:43.8 

WS: How do you decide who gets that?

0:17:45.2 

DC: It’s actually the person, the recipient passes it. 

0:17:50.2 

WS: Oh, wow. I love that. So, they’re not keeping this award like next week, they’re handing it to somebody else.

0:17:55.0 

DC: Yup, and the next person gets a $50 Amazon gift card. It’s just a whole, you know, a little thing that we do.

0:18:00.5 

WS: That’s so interesting, ’cause then it’s not like the CEO or the leadership team have to determine, okay, you know, who is our top performer this week and who gets this award, but it’s like actually co-workers appreciating other people, right? And awarding other people on the team. Love that.

0:18:16.0 

DC: It’s been fun. It puts a smile on everyone’s face every morning. It’s a good one. And the last one is, as a boss, you really need to be humble, you are nothing without your people. Like that, that’s really what it comes down to. And yesterday, actually, I was reading the EOS life, and I was on the last few chapters of it, and it said, “Send out to the people you love most, what skill you are on from humble to arrogant,” like, one to 10. And my mom, obviously, she thinks I’m an angel of God so she gave me a one, but it helped me realize what people think about me, and it’s something that I need to also work on every day, but the moment you stop taking credit and giving all the credit every single time to everybody, only praise and never publicly bring people down if you have some feedback to it on the side, just like normal kind boss things to do, but really makes an impact.

0:19:10.6 

WS: That’s a hard thing, it’s a hard thing. And I think oftentimes, it’s easier to see it in others than seeing it in yourself, the lack of humility in yourself. Is there any ways that you have improved that I don’t know, ways that you’ve grown in that, that would be helpful to the listener and myself?

0:19:28.2 

DC: And I don’t wanna go Biblical here, but if you read Proverbs every day, you will be humbled. You will learn how unwise you really are. The Proverbs every day. Yeah, just on my way to work, put it on the audio, click play and I just, I just get humbled. You know, everyday.

0:19:51.6 

WS: That’s incredible. That’s great advice. No doubt about it. Speak to some other ways that EOS or maybe how you implement an EOS, other ways or are the things that you did across the team or the business that have been beneficial?

0:20:03.6 

DC: Yeah. So, there’s a level 10 meeting, right? The way that we break it down is on Asana, and if you guys, if you want, I could actually share you with the template and you can put it on your notes and all your listeners can have access to how it functions. Yeah, happy to do that. It makes it so easy to do, if there’s an agenda on one column, there’s your quarterly commitments on one column, you got your seven-day to do’s your seven to 38 to do’s on your next one, you got your issues, your opportunities to explore, your one-page plan, there’s one more helpful links, right, and it breaks down all of your, basically everything you need to run a company right there, and the agenda outlines what you do and how you move along each column. And you just stick to it and it really helps. Meetings get pushed along efficiently. I take that level 10 meeting and I copy and paste it for every department. So, every department has your own level 10 meeting or they discussed their own issues, their own problems, and I actually love the level 10 meetings so much. I implemented it in my life with five of my friends, where we took the wealthy way plan. I don’t know if you, I don’t wanna get too distracted here, but the wealthy way planner is like a way to have a wholesome life, right. So we track our worship goals, our education goals, or affluence, lifestyle, team work, health, and it just allows it, that’s the reason why I take my mom out once a week, right. So, we track these metrics and we do a level 10 meeting once a week, and we push each other to solve issues and get our to-do’s done. So it’s a powerful meeting agenda planner, the one that was given by my consultant, it’s really amazing.

0:21:52.6 

WS: Wealthy way planner. Is that something we can look up or is that something

0:21:56.3 

DC: Yeah. It’s totally free. (Inaudible) Wealthy way planner. You just Google it. Yeah, wealthy way planner, it’s totally free. It makes you intentional about having a wholesome life.

0:22:06.7 

WS: That’s incredible. How many meetings do you have a week with your team?

0:22:10.0 

DC: I used to be in all of them, but now I’m in Level 10, meaning I’ll join the marketing meeting because that I feel like that’s my job as a CEO, kind of messaging, that we’re putting out  That’s pretty much it. I mean, like, three meetings a week, so I’m like three hours a week, I’m in meetings, and honestly, the other meetings that I choose to do are just because I’m reaching out to people and I wanna talk to them, I wanna meet with them, I’m networking. But yeah, three meetings a week is what I’m stuck to internally and I really enjoy them, I really do.

0:22:39.7 

WS: Any one-on-one meetings, or is it all like a team, some department or something like that at a time? Or leadership?

0:23:09.0 

DC: I’ll take out three different people out to lunch a week, I just, that’s just who I am. First off, I like eating, so I just take one person now, I just try to, I wanna understand what their goals are in life, and it’s not even, I was doing that before I started reading Building an Elite Organization, but it’s just that one-on-one time to figure out where their heart is, are they happy, are they learning, do they see the growth that’s before them and making sure they feel appreciated, and I know that, I know that. Well, I just wanna make sure they’re happy. That’s my job.

0:23:17.7 

WS: What’s the size of your team right now, how many people?

0:23:20.8 

DC: So, throughout the entire company, I would say that we probably have close to 100 people. Yeah, I would say about a 100, probably around 45, 50 US-based and other 50 overseas.

0:23:31.6 

WS: Okay, I’m glad you said that speak to holding those meetings with 50 employees that are overseas somewhere.

0:23:39.5 

DC: With technology, you really get a competitive advantage. Right. We’re having this meeting right now through Zoom, it’s the same approach. We, hasn’t really made it. Honestly, it hasn’t made a difference. The one girl that we hired, and her name is Joan, she was my first hire ever. She’s in the Philippines. Without Joan, I don’t know where my life would be. I really don’t know. It’s my mom, my girlfriend then Joan. The hierarchy of important women in my life, but yeah, she’s overseasoned. She’s just on point, she’s available, she’s in every meeting, she’s on time, so there is this barrier that a lot of people have like, oh, I don’t know, I’m a little old school, I don’t know if I could trust someone overseas, but you have no idea what you’re, the talent and how cost-effective it is, you have no idea what you’re missing out on.

0:24:29.5 

WS: How did you find the people overseas. We won’t go too deep into that specific thing, but I know people are wondering.

0:24:34.3 

DC: Yeah, so you really wanna start with one person and really build, if you pour into somebody and they trust you, they’ll be loyal to you, right? So just find one person that is high quality, you can find them on Upwork, you can find them on LinkedIn, there’s a bunch of different websites. Really start taking care of that person and that person will start taking care of you, right? So, I bought Joan a house in the Philippines. She started at $3, she’s at $16 now. So every time I grow, she’s coming with me, I told her, I made a promise, she’s my girl. I took her along and she built out a recruiting platform, so now she’s posting on all of these Facebook groups that you as a US-based person, you’re not allowed to join. The moment you try to join these Philippine Facebook groups, the admin kicks you out, they’re like, you know, you’re not allowed in. So you actually have to be from the Philippines. So she joins, she puts out posts and people just start applying for these jobs, and now we just have thousands and thousands of applicants, infinite pool of talent that you could get it like an unbelievable dollar rate. That’s how we, honestly, that’s probably one of the main reasons why we’ve scaled so quickly, is because of that outsourcing. 

0:25:45.5 

WS: Yeah, that’s incredible. How many employees did you have four years ago? 100 employees in four years or less, right? It’s incredible to hear that growth, and I know the listeners have a ton more questions for you, David, and how you’ve implemented this, I guess one more thing, and maybe I’ll have a couple of follow-up questions, but you all tried to implement it on your own, you have those goals, you couldn’t hit it, but then you hired an implementer. How much weight should we put on hiring an implementer or trying to do it ourself?

0:26:17.1 

DC: If you’re like me and most visionaries and entrepreneurs, you are like so bad at organizing and being disciplined, and that was me, so having someone come in and just shove infrastructure down, it helps a lot, and I do not regret getting one, I would have tried to always spend the next three years trying to figure it out, try to figure it out. And I spent 25 grand to hire one. It was the best 25 grand I’ve ever spent. Absolutely, hire somebody.

0:26:46.4 

WS: No, I appreciate that. I’ve heard that so many times over and over, just so the listeners know. I’ve heard so many people that have hired an implementer to bring this in, because exactly what you just said, and I just think about the freedom that you have now versus what you had four years ago for 25 grand, right? And that may seem like a lot of money, but if you’re operating, you’re making money, it’s an expense that is so worth it. I think we’re in the process of doing some of the same things internally, so this couldn’t be more timely to talk about it. And so, we don’t have a ton of time unfortunately, but left, but any other advice that you would say, Hey, you know, listener, you need to think about EOS or you need to think about implementing something like this, some DO’s, DON’Ts, things maybe you wish you had known even as you implemented it. Maybe you wish you had known then that you know now.

0:27:35.6 

DC: Yeah, I wish I had known. Some people are at the business stage where they really can’t afford the $25,000 expense. So, had you told me about this, even three years ago, when I first started trying to get OKRS involved and tried all these different management systems, I probably would have said no ’cause I just wasn’t financially ready for that decision, so what I would say is read two books, Traction, absolute by yourself and your leadership team, Traction, and Building an Elite Organization, get those two books, hand them out to your leadership team. Yes. Yes.

0:28:14.5 

WS: I’m holding them out right now so people can see them, I have them both, and have been going through Building an Elite Organization right now, I couldn’t recommend it enough. Don Wenner.

0:28:22.1 

DC: It’s amazing. Those are my two favorite business books. The authors are just unbelievable, I mean, they are just amazing, amazing, amazing. So, pick up those two books, buy a copy for your entire leadership team, and then just start out small. Right? Get out, I would say just even before you do all this crazy stuff, try your best to just for this coming quarter in Q2 or Q3 set up company-wide goals for the quarter, make them attainable, don’t go crazy, and then each department have them set up their own three, just make three, don’t go crazy, three quarterly commitments that they’re gonna stay too, as a department and make sure that each department has each team member involved in that decision making for the department, not just a department head, right. And then what you could really do to get by and is have each team member make three of their own quarterly commitments to support the department level, just get your whole company involved in making decisions, and you’re gonna be surprised with the amazing ideas that everyone comes up with.

0:29:25.9 

WS: Incredible. I appreciate your insight, David. Just your experience and even just what’s happened in your life and business is a great testimony too, the system, right and taking the time to implement something like this, so man, you have that time to take your mother out every week, or your girlfriend, or to work out, it’s incredible change just in the way you think right about business and operations, and I’m so grateful just to have that time where you can share that. I mean, two employees to 100 and flourishing sounds like.  So tell me, any habits changed since we talked last  I wanna ask you that.

0:30:04.3 

DC: No, my habits have just, I’ve been more consistent. I’ve been meditating a lot more. I’ve heard an adage that was like, you should meditate one hour a day, and if you’re too busy to meditate one hour, meditate two.  And right before this meeting, I was, this podcast on, I was a little nervous and it. Maybe I’m not the best guy for this one, so I sat down, meditated for 15 minutes, crystal clear. I added meditating to my routine, and it’s been an awesome.

0:30:33.3
WS:
How do you like to give back?

0:30:35.3 

DC: My company, what we do is we help with city relief and we buy pizzas. We give some donations and we actually get the company involved in handing out pizzas, and sometimes they ask for prayer or we do what we can, and the other thing that we do is we spend time with the youth in the city of New York. We’re like New York focused giving, and we go out, we help them learn piano, do homework with them, and after reading Building an Elite Organization that quarter of profit and 1% of company hours giving, that’s something that I’m dead set on implementing this quarter, so that’s something that 

0:31:16.2 

DC: That we do as a company, and because I know how powerful EOS is, I’ve decided after I finish with this church that I’m helping, it’s just something that I’m gonna continue to do with other churches around, small churches that need help, so. 

0:31:30.8 

WS: Incredible. And just the ripple effects of that giving it, you can’t even measure it. Grateful for your time today. And just your willingness to, but you have all kinds of time, right? So thank you for being willing to share this. It’s not a secret, this EOS stuff, we’ve been talking about this for a long time now in the entrepreneurial world, but however, not everyone implements it, right, very few take the time and are serious enough to hammer on that and implement it and across your entire team, you’ve done that well, obviously. No wonder your mother ranks you like she does, as any mother would, that their son takes them out once a week, so if the listeners think about that time that you’ve created by implementing these things, right. David, how can the listeners get in touch with you and learn more about you?

0:32:23.9 

DC: You can reach me on Instagram. I got a personal website, davidchoi.biz. This is weird, but you could text me if you really need help, if you need advice, you need introductions, you can text me, call me 201-973-7029.

0:32:46.7 

Whitney Sewell: Thank you for being a loyal listener of the Real Estate Syndication Show, please subscribe and like the show, and share it with your friends so we can help them as well. Don’t forget, to go to LifeBridgeCapital.com, where you can sign up and start investing in real estate today. Have a blessed day. 

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