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Money people deal

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Action Step: Examine the following seven skill sets and give yourself a score from one to ten, with ten being the strongest and one being the weakest in each category. This exercise will give you some insight into which skills need to be delegated to a partner, contractor, or employee, and which skills can be performed best by you.

1)

Sales and Marketing (score 1 to 10)—This is the primary skill for raising money for real estate deals and the skill that is most important in the game of Money, People, Deal. Consider the following:

a. Do you have formal full-time sales experience?

b. Do you enjoy making cold calls?

c. Do you have a sales script and sales process?

d. Do you enjoy selling?

e. Are you a natural sales person?

f. Do you enjoy presenting?

g. Do you enjoy promoting and marketing?

2)

People Skills (score 1 to 10)—People skills are important in real estate. Real estate, like every business, is a people business, and every single part of the business requires some form of interaction with people.

a. Does working with people energize you?

b. Are you a good listener when conversing with others?

c. Can you relate to other people?

d. Do you have leadership skills to lead a team?

e. Do you have a pleasant personality?

f. Can you spot talented people and avoid troublesome people?

g. Can you handle conflict and communicate effectively?

3)

Management Skills (score 1 to 10)—Management skills are important for running the business of real estate.

a.

Are you able to organize information effectively and access it in the future?

b. Are you able to create and follow processes?

c. Do you keep an organized and well-run back office?

d.

Do you follow up effectively with team members to ensure that tasks are getting done?

e.

Are you effective at correcting ineffective processes and team members?