West DFW REIA Group

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Weaknesses……….we all have them in our businesses….we all have them in our lives.  QUESTION IS…….what do you do about them?  

First….Let’s Identify Just a Few of Them: 

  • Don’t understand bookkeeping or for that matter even care to understand how to do your books? If it makes you want to pull every single hair out of your head…….DON’T….WE HAVE SOLUTIONS!!
  • Don’t like talking to people much less going to a seller’s house to discuss a deal with them or discuss how to work a deal with a potential buyer? If these make you feel anxiety ridden…….you are not alone!  WE HAVE SOLUTIONS!
  • You are not very organized….and you can’t find anything in your office…Don’t worry……..WE HAVE SOLUTIONS!!!

Most of us were brought up to believe that practice makes perfect and you have to work on your weaknesses so that they can become our strengths.  Ever wonder why are we focusing on weaknesses??????  The sad thing is that even if you spent hours and hours dedicated to improving your weakness, you might be performing at maybe 70% of someone who has strength in that area.  What makes it an even less percentage is if it’s something you don’t like to do!!!!  WHY focus your efforts on doing something that you absolutely don’t like doing???  Not only does it not make sense…………it’s absolutely the WRONG thing for anyone to do with their time!!! 

Why are we not focusing on OUR STRENGTHS???  Why are we not practicing making our strengths even stronger?  

Here is one of the most important lessons I have learned in running 6 successful businesses………….DO WHAT YOU ARE STRONG AT……..DO WHAT YOU LIKE TO DO………… AND…….DELEGATE ALL THE REST TO PEOPLE THAT ARE STRONG IN THE AREAS you are not as strong in.    (There is nothing wrong with not being able to do everything yourself!!!!!!!!!!)  This took me 2 years to figure out!!!!   I did it all for 2 years…..YES, Bookkeeping, answering the phones, calling sellers, calling buyers, making appointments, going on appointments, inputting things into the files and the computer, filing, helping put the deals together, running to pick out things for our rehabs, coordinating the Contractors and the agreements and the draws, and picking up the rents, banking, recording everything, keeping track of the schedules and making sure everything was being done when it needed to be.  This is the small list, I could go on for pages of all the things that I did. 

This is why you should analyze your strengths and weaknesses in your business and find someone else to handle tasks that you are not as good at doing or don’t like to do.

What we figured out once we hit the wall and found ourselves unable to grow our businesses to a higher level was that all we did was work.  Many of the tasks we were performing we were not happy doing nor were we great at doing some of the tasks.  (I literally did the bookkeeping backwards for 2 years) then it took a good bookkeeper several months straight working on fixing the books to where they should have been.  (LESSON LEARNED!) Not only did I use my precious time working on bookkeeping when I really had no idea what I was doing, but I had to pay a bookkeeper to redo it and also had to amend our tax returns, again more money.   Plus……to make it all worse I am terrible with math!!!  What would make me even think I should attempt to do the books for our businesses?    Well…I had that little person sitting on my shoulder saying….this is one of your weaknesses……. YOU SHOULD SUCK it up and learn how to do it so that you can become better and have a better grasp on bookkeeping for our business!   WRONG ANSWER!!!!!!!!!!!  I NEVER SHOULD HAVE had my fingers in the books from day 1………WHY……….Because I am not good with numbers…..I am not a bookkeeper……..I am not even interested in bookkeeping………… and……….there were a ton of other things that my time would have been more well-served doing!!!  That’s just one example!   I am sure you all can form your own list!!!!  Sad thing is that most of us see areas of weakness as a negative aspect that you should fix ASAP.

The really sad thing is that when you are working on your weaknesses….doing the things that you are your strengths…..all your hard work still could mean you aren’t the best (or even close to being the best).  SO WHAT DO YOU REALLY ACCOMPLISH???

If you can focus on your strengths and stop worrying about your weaknesses, you’ll be able grow your business faster because your energy is now focused and your working on the things that YOU are good at…….and the things that you like doing.   Now……..there is one caveat here.    You really should sit down and write a list of all the job descriptions and pick the ones that make best use of your time and make it easy for you to basically work ON your business…….NOT IN your business!!   Let’s be honest, if we aren’t good at something, we are more likely to push it to the side and not give it the attention that it needs anyway.  Granted…….this might mean that even though you are good at some tasks…..they might not be the tasks you should be doing if they are not making the best use of your most precious asset…TIME.   Time is something none of us can stop from moving forward.

Every tick of the clock is a tick that is gone.   Look at the time as being something that you have to protect as it is not coming back…and you need to only do the things that are vitally important for you to do in the business.

By having someone who has the passion for handling the tasks you should not be doing, you’ll start to see improvements almost immediately in your business.  We didn’t believe it until we tried it and WOW what a difference it made in our businesses!!!

The BIG LESSON Here is……..Stop trying to be “GOOD” at everything and start being “AWESOME” at a few particular areas of your business that make the best use of your TIME and produce the most income!!

It’s sometimes hard to think about letting go of our faults and to stop seeing them as a weaknesses but once you find someone who can take control of those areas in your business and as long as they’re outperforming what you’d be able to do in that role, your business is moving in the right direction and will flourish!!  BELIEVE US!


To Your Success!!!!

Stephanie & Jon

The Iannottis

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912 S. Elm St.
Weatherford, TX 76086
(817) 599-8058

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