In this episode of the Building to Scale podcast, Mark Ainley delves into important lessons he’s learned in his entrepreneurial journey in the real estate sector, particularly as it pertains to hiring the right people.
Getting started in his business, he and his partners tended to hire too late, and often used a “gut feeling” or personality as a barometer to find a good fit. Ainley talks about the pitfalls of this practice, and the ways he has adapted and the methods he now uses to find the “right people for the right seats”.
Mark Ainley is an investor, managing broker, and property manager with nearly two decades of experience in real estate. The co-founder of GC Realty & Development, a full-service real estate brokerage, property management, and real estate investment firm in the Chicago Market, Ainley consults with both local and out-of-state investors on the acquisition, stabilization, and management of their rental property portfolio.
Ainley loves to give feedback to beginners, out-of-state investors, or less experienced entrepreneurs on what steps to avoid in growing a business. His extensive experience allows him to share his knowledge on many topics like property management, scaling a business, rehabbing and flipping, out-of-state investing, asset stabilization, market analysis, and more.
Key Takeaway: Getting the right people into the right seats in business can be the difference between success and failure. It’s important to realize that there’s a person who can help with anything you don’t know. Often, it’s much cheaper, faster, and more efficient to invest in hiring a person who already has a skill rather than trying to learn it yourself.
Hire Sooner – Instead of trying to learn everything yourself, hire people who are experts in their field and let them help you.
Hire Smarter – Find the right people to fill the right seats in your business using a predictive index rather than a gut feeling
Process, Process, Process – Record processes for everything so that you can hand over projects and empower employees with the knowledge needed to complete them.
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