In 2011, I purchased my first investment property while I was working my job as a Civil Engineer. It was during this time that my accountant told me to get myself a tax depreciation schedule.
What was next blew my mind.
I paid $700 for a Quantity Surveyor to come to my home, walk around for 15 mins and send me a report after 2 weeks that told me how much I can claim. When I claimed it on my tax depreciation schedule, I realised I received a massive refund in tax which made me question my entire career trajectory.
5 years later, I now run my own Quantity Surveying business that’s turning over 7 figures with a 15-man strong team and a nationwide footprint of Quantity Surveyors.
So how did I do it?
I share with you 5 tips that I attribute to my success.
Tip #1: Prospect, Prospect, Prospect
Building your business is all about relationships.
Whether you do this online or in person, get yourself in front of as many relevant people as possible. I can credit my early success to seeding and building relationships with potential referral partners who clearly enjoyed working with me and are willing to refer me leads.
Tip #2: Automate to Scale
We honestly didn’t see significant growth in our business until we automated our systems and processes. From sales right through to delivery of our service, after taking the plunge with a CRM that automates this entire process, we were able to scale back our operations team to half the number of staff but 4 times our original output.
This also meant that new staff could plug into our system and process quicker than previously.
Tip #3: Think Big
We were originally only offering our services in Sydney. But when the COVID pandemic hit, we realised the benefit of having diversified locations and multiple offices around the country. We made the effort of expanding our presence nationally and looked to have people on the ground in each major city in the country to build and scale our business development efforts.
This was clearly risky because we were over-extending ourselves but this eventually paid off significantly as we were persistent and believed in the process.
Tip #4: Be Patient Yet Persistent
Growing a successful business isn’t about wins after wins. You could be knocked back multiple times or not get a new piece of business for months. However, being patient yet persistent means you stay the course and ensure that you’re ready when the time comes.
This goes back to building relationships and generating more awareness of your services to as many people as possible.
Tip #5: Stay Humble
Most of the referral partners I worked with in the early days wanted to work with me because I admitted that I was starting early and was willing to do what it took to get the work. I positioned myself as someone who just wanted a fair shot and more often than not, people are willing to take a chance on someone if they demonstrate the right attitude and approach.
A lot of business owners get discouraged when they find they hit a brick wall when it comes to growing their business. However, having patience, persistence and a belief in the process is key in success. It’s not necessarily about fixing something or making major changes, but just staying the course and being at the right place at the right time.
Having a successful business is a bit of luck, a bit of stubbornness and a lot of belief.