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Top Issues Service Companies Face & What To Do About Them with Matt Shields
Manage episode 418838735 series 3574946
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Raul talks with Matt Shields, who manages over $60 million in real estate assets, shares his unique business management strategies on a podcast. He discusses his practice of conducting routine company-wide meetings, termed "huddles", to discuss achievements, challenges, and upcoming objectives. Shields advises budding entrepreneurs to cultivate robust internal processes, utilize technology, and identify themselves as business proprietors rather than employees. He is passionate about aiding business owners in diversifying their investments, creating passive income, and boosting their companies' value upon retirement or departure.
Who’s The Guest? Matt Shields is a 25-year-long entrepreneur who has accumulated an impressive $60 million in real estate assets under management. He has experienced the ups and downs of entrepreneurship firsthand and wants to share his knowledge with other business owners looking to achieve financial freedom.
Episode Highlights
- His experience living in a van and shedding the need for a facade of success.
- Mentoring startups and the importance of understanding real-world business struggles.
- Illustration of common problems in service-based companies that lead to negative financial situations.
- The top common pitfalls in business
- Understanding the importance of managing business expectations throughout the process to turn a profit.
- The 'daily huddle' concept, where each team member quickly shares their achievements, goals, and challenges for the day.
- Exciting future prospects
- Helping such business owners to build a valuable, potentially legacy-driven business.
- Transition of active income into passive income and transforming a business into an asset.
Episode Resources
- Connect with Raul Hernandez Ochoa
- https://www.linkedin.com/in/dogoodwork/
- https://twitter.com/rherochoa
- https://dogoodwork.io/
- Connect with Matt Shields
- LinkedIn: https://www.linkedin.com/in/matthewshields/
- Website: https://www.investinsqft.com/
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