Two house flippers buy similar deals—but one’s profit is double the other.
Two wholesalers buy equivalent houses—but one offloads his for a $25,000 profit in a day, while the second struggles for two months to net $5,000.
If you want something done, a lot of people can do it. But if you want excellence, the field of qualified applicants narrows.
This illustrates a critical point: How something is done is not nearly as important as who is doing it.
Dan Sullivan and Dr. Benjamin Hardy wrote a book about this critical topic. It’s called Who Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork. As we’ll explain, the lessons of this book are crucial for passive investors.
Here’s the premise: When entrepreneurs and managers plan a new project or try to grow their firm, they typically ask the wrong question. Instead of asking, “How do we do this?” they should be asking, “Who can do this for us?”
Shifting from a how-mentality to a who-mentality is a game changer for passive real estate investors.
Why Shift to a “Who, Not How” Mindset?
Unless you’re a solopreneur by choice, you must assemble a team. Who you put on that team will make or break your results and your future. Look at any great NBA basketball team for proof.
Apple pioneer Steve Jobs was obsessed with this practice. By hiring the most creative, ingenious team members, Steve believed he could produce over 50 times the results produced by an average employee. Jobs said, as quoted in Inc. Magazine:
“I noticed that the dynamic range between what an average person could accomplish and what the best person could accomplish was 50 or 100 to 1. Given that, you’re well advised to go after the cream of the cream…A small team of A-players can run circles around a giant team of B and C players.”
Those who implement this powerful principle achieve a dual benefit: Their achievement levels rise, and they achieve radically more freedom—a…