The Property NomadsBuilding Strong Business Partnerships Through Shared Experiences
In this episode, Rob once again hooks up with his business partner Aaron Devoy to talk all things property, launch some new podcast shows and share some of their travel stories. In this mixed content episode, they discuss how they have successfully managed to combine running a business with friendship. What it takes to create a sound business partnership.
They explain how each of them plays to their strengths, handle mistakes proactively and challenge each other when necessary. Aaron speaks briefly about his early work as a risk compliance manager has influenced his approach to buying and developing properties with Aaron. They share how they started Devoy & Smallbone Properties Ltd and have grown it to the point where investors re-invest regularly.
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KEY TAKEAWAYS
- If as business partners, you are not challenging each other you are not offering each other everything that you can.
- When you make a business error it is important to look at the process that led you to make that mistake.
- With any business partnership, it pays to recognize each other’s strengths and organize responsibilities accordingly.
- You need to do your due diligence to be sure of what you are buying or planning to develop actually is a sound investment.
- In the property business, it is all too easy to get distracted and try to do too many things at once. Usually, the best approach is to develop one strategy at a time.
- It makes business sense to pay people to do the mundane tasks. Your time and expertise are far more valuable than what you pay them.
- Being open, honest, and building strong relationships with investors always pays off, eventually you reach the point where funding is no longer an issue.
BEST MOMENTS
‘You´ve got to do your due diligence, doing homework is something that takes time, but it is essential.’
‘Sticking to one particular thing is probably the hardest thing. It pays to do so. ´
´Pay someone to do the things that you don´t want to do.’
VALUABLE RESOURCES
Buy to Let: How to Get Started – By Rob Smallbone (Amazon)
ABOUT THE HOSTS
Rob Smallbone and Aaron Devoy, the hosts of The Property Nomads Podcast, are on a global mission to guide your success. Success can happen in many ways, shapes, and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?
Rob and Aaron just want to make a huge difference to people around the world. They are here to guide your success in property, business, and life and to inspire you to achieve your goals, dreams, and visions. They’ve travelled, explored, and invested. And they’re not planning on stopping these activities anytime soon.
Buckle up, sit tight, and enjoy the ride that is life.
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