When starting a career in RE Private Equity, should you stay small or grow a platform? On this episode, Chris answers that question as he walks through the process of growing a real estate company from a one-man band to 25+ people. He explains how your role changes as you do more deals, why hiring is inevitable, the challenges of hiring the right people, implementing processes and operations, and more. Enjoy!
(01:27) - When You’re in the Early Stages of a Small Business (1-2 People)
(04:03) - Finding and Setting Up Your HQ
(04:41) - Determining the Future of Your Company
(05:13) - Option 1: Doing 1-2 Deals Per Year
Accounting Software - Quickbooks: https://quickbooks.intuit.com/
(13:04) - What happens after closing your first deal and you’re looking for your next deal?
(14:52) - How will your role change as your company grows?
(15:39) - “Doubling” Your Business After Year 1
(17:20) - Hiring a Commercial Loan Assistant
(19:11) - Challenges in Hiring Someone
(22:08) - Hiring Asset Managers in Year 3
(24:01) - Creating Processes
(25:58) - Increasing Your Prices and Preserving Fee Streams
(29:09) - Making the Leap from 5-6 People to 25 people
(37:31) - Wrap Up
The FORT with Chris Powers is produced by Straight Up Podcasts
Follow Chris on Twitter: https://www.Twitter.com/FortWorthChris
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Learn more about Chris Powers & Fort Capital: https://www.FortCapitalLP.com
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