My 3 Step Formula to Scale a $50k Per Month Real Estate Photo Business [COPY ME]

Summary

In this video, the speaker shares a three-step formula for scaling a real estate photography business from $0 to over $50,000 per month. The key lessons include overcoming the mindset that only you can do certain tasks, understanding that building a team is essential for growth, and shifting your role from business operator to team manager. The speaker emphasizes the importance of training, managing, and building a team while making data-driven decisions. Finally, the speaker offers a coaching program for those looking to scale their business more effectively.

Takeaways

• 📈 The speaker scaled their real estate photography business from $0 to over $50,000 per month, and wants to share a three-step formula for others to grow as well.
• 🤔 A common mistake is believing that you are the only one who can do certain tasks in your business. This mindset can prevent growth and scaling.
• 👥 Hiring and training others is essential for reaching $50K+ per month. No one can do it all alone in the long term.
• 🧠 Ego often comes from fear. The fear that others may not perform tasks as well as you do prevents many from delegating.
• 💼 Building a team is not just about hiring—it requires training and creating a company culture where others can excel.
• 👩‍🏫 Your role shifts from doing all the tasks to managing the people who do them. Building the people who build the business becomes your primary job.
• 📊 Effective management is about helping your team understand why things are done in certain ways, not just enforcing obedience.
• 🛠️ Scaling a business requires becoming a good operator who makes data-driven decisions and focuses on optimizing the business processes.
• 🧑‍💼 If you're strong in one area, like growth, you need to hire someone who excels in the opposite, such as operations, to create balance in the business.
• 🚀 The real secret to growth lies in mastering the basics: hiring, training, managing a team, and running the business efficiently.

Q & A

What is the main purpose of the video?

The main purpose of the video is to share a three-step formula for scaling a real estate photography business, based on the speaker's experience of growing from $0 to over $50,000 per month.

Who is the target audience for this video?

The target audience includes real estate photographers who are either starting their business or are making between $5,000 to $20,000 per month and want to scale further.

What is the first major mental barrier to scaling a business according to the speaker?

The first major barrier is the belief that only the business owner can do certain tasks, leading to fear of delegating and preventing growth.

How does the speaker define ego in the context of business growth?

The speaker defines ego as a fear-based reaction, where a business owner feels that only they can perform specific tasks, leading to reluctance in hiring others.

Why is building a team essential for scaling a real estate photography business?

Building a team is essential because the business cannot grow beyond a certain point (e.g., $50,000 per month) without delegating tasks and allowing others to handle key responsibilities.

What lesson did the speaker learn when hiring a photographer for the first time?

The speaker learned that someone else could handle the photography work just as well as they could, which dispelled the fear that only they could perform the job.

What is the speaker's advice regarding simplifying workflows?

The speaker advises that if a neurosurgeon can be trained, so can anyone in your photography business, but it's important to simplify workflows to make the training process faster.

What role does management play in scaling a business?

Management is key to scaling because the business owner’s role shifts from doing the work themselves to managing the team and helping them understand the business processes.

What is the difference between obedience and understanding in business management?

Obedience is when employees follow instructions without knowing why, while understanding occurs when employees grasp the reasoning behind the business processes, which leads to better decision-making and efficiency.

How does the speaker suggest balancing growth and operations?

The speaker suggests identifying whether you are stronger in growth or operations and then hiring someone who excels in the opposite area to create a balanced, well-rounded business.