One of the most underrated skills for boosting your wealth is management

Underrated because it can be difficult, and because you can only manage something that's at scale-- otherwise, it's just you

How can you use management skills to build wealth?
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1. Freelancing business.

You blaze the trail yourself in an area where you have skills, so you know how to find clients, deliver high quality work, get paid.

You outsource one of more of the tasks and manage the entire process

Make a margin on every job and scale it up

2. Real estate BRRR (Buy, Rehab, Refinance, Repeat)

You set up a process to find deals, evaluate them, rehab, and refinance.

You find team members for one or more steps, and manage the various work flows

This allows you to manage and rehab many properties at once

3. Blogging

You set up the blog and get it going, then you hire --------someone to do backend
-a team of writers/editors
-and other content creators

You manage the workflows and make sure that they deliver.

This way you can create far more content than you could by yourself

4. Day Job

Two ways management helps
- if you're good at managing, you get promoted/paid more
- if you're good, you can have your team cover your duties and you can dial down the workload and work on the side hustles

Either way are good.

5. How do you manage?

This is a topic where there's a lot of BAD quality stuff

I'll keep it simple

- Set Clear Objectives
- Measure Things Where You Can
- Be Flexible about the "How"
- Trust Them and Fight For Them
- Build Processes in Advance

6. Clear Objectives are the critical part.

You need to be crystal clear about what you want.

Describe it, make sure everyone's clear

Then develop a way of tracking the progress to see if you get there

7. The "How".

Set up a process that describes how to get from A to B. Ie. "Write the atrticle, put in dropbox to edit, review edits, then publish"

If someone comes up with a better way then be open to it.

Then your people feel listened to and the work improves.

8. "Trust"

If you are aligned on goals and listen to your team, then your job is to do your part, which is directing traffic

And to fight for your people. If something goes wrong, don't blame, yell or fire-- fix the problem together

You will build trust and get better results

9. What else would you add about management?