Although at the time of this post’s publication we are well into January, we can’t let the beginning of the year get too far away without sharing The Inspiring Investment 2020 goals!!
This is not the exhaustive list but high level, here’s the direction we are headed.
- 30 Deals
- 2 (of the 30) – hold for rentals
*We also have our eye out for commercial property – preferably something that needs work, has space for a conference room, loading dock, and other offices we can rent out – if you have a contact in the Apex, Cary area – we’d love to talk to them!
Blog & Marketing Initiatives for 2020:
- Consistent Content Creation – at least 4 blog posts per month
- Develop efficient process for documenting projects for sharing on social
- Email: Grow our email list, develop 1 freebie, create a welcome sequence, and develop a quartlerly newsletter – What should we call it??
- Update blog with at least 30 of our favorite flip projects.
- Collaborate with a minimum of 4 brands we love on flip or home projects
- Develop 2 high-conversion ad campaigns
- Featured on two reputable sites
- Network and guest post with 4 local, complimentary companies
Construction Initiatives 2020:
- Improved construction management
Basically we need a bit more on-site authority with sub-contractors and quicker recognition of poor workmanship or underperforming subs
- Budget Tracking
We’ve set up systems to track budgets for each project, but need improvement to stay on top of it and keep budget top of mind.
Ordering in phases and Implementing a “3rd Check”
- Project Timelines
Implementation of our new construction workflow and ensuring all material is on site prior to deliverable beginning.
- Improved Vendor Pricing
By brother, Brad, who is in sales in the oil and gas industry in Texas encouraged Uriah to begin relationship building with vendors and negotiating rates on a more frequent basis.
Team Building Initiatives 2020
- This year, we aim to have one-on-one lunches with management, host a team building event and a management retreat
- Re-defined Roles
- Garrett has been promoted from Assistant PM an official Project Manager
- Nicholas is now in a Foreman role, promoted from the Construction Crew
Recap of 2019
I feel it is important to share at least a short recap of all that surpased in the past year. Although 2019 did not bring us as many deals (we were doing up to 23 before) most of the projects we took on were larger scale renovations. This pushed us to improve workflows. There’s alot left to learn, but Uriah and I love our team, seeing them gain new skills, and learning to problem solve and work together.
In 2019 the Inspiring Investment
- Completely designed and built our first house from the ground up
- Bought 20 deals, most of which were larger scale projects
- Sold two underperforming rental assets and transitioned two flips to rental property
- Hired Nicholas full time onto the Construction Crew
- Upgraded and finalized our logo
- Branding – Ordered Merch!
- Went through the hiring process and found our first office assistant
- Lost said office assistant after only a few weeks
- Worked through some frustrations and business pain points
- Learned to prioritize working ON our business
- Re-designed and organized our home office
- Developed a legitimate administrative role with training materials, tools, and documents for reference
- Hired a new Office Administrator
- Consulted with an experienced GC and improved our construction processes
- Learned many lessons in managing and finding subcontractors
That’s just off the top of my head. The Inspiring Investment would not be as far as it is without its team and we are grateful to have them be a part of where this company is headed in 2020.
Thank you for reading this blog and your support as we continue to pursue good work that matters.
The Entire Inspiring Investment Team
PS. At the risk of sounding cliche … What goals have you set for yourself this year? Let’s Plan Together!