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DGS 96: Freedom of Time and Money Through Better Business Practices with Steve Welty of Good Life Property Management
Description
Freedom of time, money, relationships, and purpose is what we all want. Property managers, realtors, and investors help clients build wealth through real estate.
Today, I am talking to Steve Welty, owner of Good Life Property Management business and podcast. He enjoys meeting amazing people and indoctrinating listeners with his philosophies.
You'll Learn...[03:23] Stop whining about solvable issues, such as online reviews to get warm leads.
[04:41] Steve surfs to success with Good Life Property Management.
[06:43] Podcast Passion Project: Do content for content's sake; add value to people's lives for opportunities and connections to come your way.
[10:19] Don't lose focus on why and what fires you up; limit time and effort spent on your business to achieve outcomes.
[15:00] Purpose of Business: Not to make money; build a business that makes money.
[16:25] How to be happy: Create momentum for other people to gain momentum. If you wish to become great, learn to become the servant of many.
[18:12] Zig when they Zag: Success outside outsource sandbox to reduce costs.
[18:55] Results-based Biz: Hire young, smart, motivated people and leave them alone.
[19:31] Big Issues, Big Success: More people can lead to more problems; paint a compelling vision to keep good people and let them do what they want to do.
[20:10] Move Out and Outwork Others: Create freedom of time and money by hiring CFO or profit first coach/accountant to offer advice, not control over finances.
[26:10] Value-add Revenue Sources: If you don't charge for it, you're doing it poorly.
[28:25] Opportunities in Other States/Markets: Pop-up shops to buy cash flow property.
[29:05] To Die List and Time Study: Procrastination problem property managers and owners experience.
[35:00] Barriers/Protections: Teach team and customers how to treat and reach you.
[37:35] Opinions vs. Observations: Co-creation/coaching is transformational and transactional superpower that changes lives.
[46:45] Give up control and allow people to fail, or you create an unsafe business.
[52:30] What Matters: Million ways to get to end results and outcomes.
[54:05] Hire and Fire: Center on core values; be reliable, positive, and go-giver (RPG).
[57:10] Epiphany: Everything worthwhile lives on the other side of fear.
[1:03:05] Money is one side of it. Easiest decision to make is to be a different person.
TweetablesDo content for content's sake.
Limit time in your business; achieve outcomes with least amount of effort.
Add limitations or constraints to create a necessity for innovation.
First key to greater time, money, and purpose is to create space for yourself.
ResourcesGood Life Property Management Podcast
Orange Tree Property Management
National Association of Residential Property Managers (NARPM)