I don’t get too many comments on the blog that aren’t spam so I appreciate the legitimate ones I do receive. I received a comment a few weeks ago on the Letter Stream blog post about the author’s preference to use handwritten thank you letters instead of using an online service.
He’s right that handwritten letters would be a nice touch, but I feel like the process of writing several letters a month, stuffing them into envelopes, addressing the envelopes, putting a stamp on the envelopes, and putting them in the mailbox is too time-consuming for myself or for an assistant.
You might think that this is lazy and let me explain why this might not be a bad thing.
First of all, I’m not talking about the kind of laziness where adults live off of others whether it be parents or the government and contribute virtually nothing to society. I’m talking about “working smarter, not harder.”
Most entrepreneurs start out working a ton of hours and doing everything themselves, which isn’t a terrible thing as you’re able to save money and learn quite a bit; however, it’s not sustainable.
My dad and I were doing all of our own repairs for the first 3 properties but quickly realized that this wasn’t a good investment of our time. (I also hated doing it and am not skilled with handy work.)
It wasn’t until our 40th property that we hired our first assistant to handle incoming phone calls from potential tenants. We should have done this sooner, which the vast majority of entrepreneurs say about their first hire.
Now, we don’t communicate directly with potential or current tenants as well as sellers but have a team in place that handles all of this much better than we ever did. They’re more patient with tenants and negotiate better with sellers.
I still work on a few tasks that I should delegate but for the most part, my focus is on finding money to fund more deals and ensuring that our team has plenty of seller leads.
When I was working a full time job, I always dreaded Mondays. For the past couple years of solely working in this business, I look forward to getting back to work on Mondays.
I enjoy what we do and don’t work terribly hard every week. By doing this I feel like I have plenty of time and energy to develop the big ideas that will spring our business forward.