01 ISS Magazine Article - When To Outsource

One of the questions I get asked that relates to both self-storage and general business is when to outsource work. This is a very interesting question.
First, we need to take a step back and see if we should outsource the tasks. You can start by eliminating before delegating.
What this means is you should look at the tasks that you do and determine if you can simply remove that task or is it worth it to continue on and outsource it.
There are other factors to consider when it comes to outsourcing and you can watch the video to find out more.
Fernando O. Angelucci is Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,
Find out more at
https://www.TheStorageStud.com
http://titanwealthgroup.com/

Titan Wealth Group operates nationwide sourcing off market investment properties for Titan Wealth Group’s acquisition as well as servicing a network of thousands of active real estate investors world wide. Prior to founding Titan Wealth Group, Fernando worked for Dow Chemical, a Fortune 50 company, rolling out a flagship product estimated to gross $1B in global revenues.
With an engineering background, Fernando is able to approach real estate investing with a keen analytical mindset that allows Titan Wealth Group to identify opportunities and project accurate pictures of future performance.
Fernando graduated from the University of Illinois at Urbana-Champaign with a B.A. degree in Technical Systems Management.
Titan Wealth Group was founded in 2015 with the vision of gathering individual investors that have the means to invest but lack either the time to find high-yield investment opportunities or the access to these off-market deals. All too often, founders Fernando Angelucci & Steven Wear came across investors who had deployed their capital only to regret the lack of consistency or degree of returns their investments were producing. In response, Titan Wealth Group provides access to highly-vetted real estate secured investments and off-market acquisition opportunities primarily in the Greater Chicago MSA. Today, Titan Wealth Group not only assists individual investors but has grown to support the acquisition goals and capital deployment of investment groups, private equity firms, and real estate investment trusts (REITs).
As a facilitator of wealth growth, Titan Wealth Group believes that success is not limited to the sum of our efforts and is infinite with what can be accomplished through partnership.
#SelfStorage #RealEstateInvesting #AlternativeFunds

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So one of the questions that I'm asked both in self storage but just as a general business owner is, when do I outsource? It's a very interesting question, because I think we need to take a step back first and see, is it even appropriate to outsource certain tasks? So when we look at the teachings of Michael Gerber with The E-Myth and, you know, books like Virtual Freedom, the very first thing that they recommend is that you Eliminate before you Delegate. So you look at all the tasks that you're doing. Are there any tasks where you really don't need to be doing them? And you're kind of just, you know, going through the motions just to feel like you're working? These are things where first you're going to want to get rid of those tasks before considering, okay, how do I delegate? And then elevate, right?

Because the whole purpose of being an entrepreneur is to move from the various levels. You know, first you're on the front lines, you're the technician. And then the technician goes up to the manager level once they're able to outsource or delegate their technician duties. And then from there, you become the owner where you're delegating to managers, which manage your frontline people. So for example, in my industry, in self storage, in the beginning, I was taking all the phone calls, talking with the sellers. I was doing all the negotiations. I was doing all the underwriting. I was contacting the local lenders to see if they want to lend to us. I was contacting the investors to see if they wanted to invest in our deals. And what I noticed over time is that certain activities were higher level activities and certain activities were lower level activities.

So for example, a higher level activity for me, or a higher value activity for me is courting investors and raising capital because no one's going to be able to tell my story as well as I am. No one's would be able to talk about the company and its strength as well as I am. So that's something that I will never delegate to someone else, or it may take a long time for me to delegate that to someone else. But say, for example, underwriting a facility. When I'm going through various websites of competitors and writing down what their rents are for each of the facilities or each of the unit sizes, and then calling the facilities and trying to figure out how much occupancy they have. These are all things that can be done by someone else at a much lower pay grade than say an owner of a company that, you know, the dollar per hour may be in the triple or quadruple digits where someone else can do this as a data entry task, you know, filling out a spreadsheet for me to make a decision on the back end.

So that's what I always tell people is first try to see what are the tasks that are truly time-wasters. Responding to emails that are not going to go anywhere, trying to go back and forth and scheduling calls with people. These are things that you can completely eliminate either by just stopping those activities or using technology. For example, on the scheduling portion of that. Now, instead of going back and forth via email with people, there's just a link underneath my name and my email. It says, if you'd like to talk with Fernando, click this button to schedule a call and it brings into an automatic calendar, it's already synced with my availability and they can just schedule instead of doing the back and forth wasting time. There's no reason to delegate that to another employee because there's technology that can take care of that.

Now the underwriting, for example, that's something that we really like to delegate to someone else because it is a super time intensive task that needs to get done, but you don't really need to have a high level of critical thinking to do it. It's something that it's just going to websites, pulling data, calling people, pulling data. That's something that can be delegated out for anywhere between eight to 15 bucks an hour. Not really worth my time. So my name is Fernando Angelucci. This is The Storage Stud. If you'd like to drop a line, feel free to visit us on our website, www.TheStorageStud.com