March 9

180 FIFM Managing Resources Depends on Good Leadership

If you are a leader, then you have a group of people, a sum of funds, or a set amount of time—among other resources—at your disposal. This is something all leaders have in common. They have access to a pool of some sort of resource.

But what makes an exceptionally good leader? What makes one stand out from all the rest? Join me in this episode of Freedom In Five Minutes Podcast and discover how easier it is to grow your business and team by knowing how to allocate resources effectively!

Overview & Episode Content

  • Why Did Dean Start Investing More Resources on a Liability?
  • Listening Intently and Assessing the Situation to Provide Smart Recommendations
  • Unlock Greater Achievements Quickly by Properly Managing Your Resources
  • What Makes an Effective Leader?

Why Did Dean Start Investing More Resources on a Liability?

A few days ago, we onboarded an expert who can help me with the consultation side of my business. And this stemmed from my wanting to become a better leader in 2021.

That particular experience reminded me of everything that has been happening on my land. Back in mid-October 2020, by the Grace of God, we were able to secure a good amount of funds to make improvements on the land.

The reason why it took so long for me to start the many projects on my property was because I’ve been treating it as a liability. You know the whole “Rich Dad, Poor Dad” mentality. I learned that a house is a liability—as well as a car. These things just take away from your cash flow.

Over the years, I tend to only focus on things that are non-liabilities such as investment properties. However, when you are married to someone who wants to create a home and build a home, then you have to be open to providing a place for your family to live and thrive.

Finally, I was able to invest on my land. If you have ever seen any of my past videos on Youtube then you would know that my property is a hilly area. Even in the somewhat flat areas, there are so many things that are in the way like brush and trees.

It was really hard to do anything in these areas. You couldn’t easily plant anything or build structures on the land. And so, there were a lot of things that needed to be done—but I was not really sure where exactly to begin.

Listening Intently and Assessing the Situation to Provide Smart Recommendations

I met an auto mechanic who has lived here, in this hilly district, who also handles heavy equipment. Now, I brought him over because I have been planning to build a workshop over here.

It was interesting because he was very unassuming when he came over for my consultation with him. This person was a very quiet guy and very deliberate on everything he does and says. So, he was listening intently to all of my ideas as I was sharing all my plans to him.

After that, he gave me his advice. One of the things he recommended was changing the spot I initially wanted for my workshop. My initial spot was a bad one because it was too near from the chicken coop. Also, he advised that the workshop has to be away from the kids.

“This is going to be your office eventually, right? You would want it to be a pleasant place to work,” he explained.

And there I was, gobsmacked at how smart that was. So, I let him share more of his ideas and we ultimately devised a plan to start work at the main house first before branching to projects outwards, away from the house.

I decided to pull the trigger—to make my home absolutely awesome to live in.

And then he said, “You’d need to rent a specific type of excavator and on top of that, you’d pay me to operate it.”

Which was totally fine with me so we did that. Not long after, the excavator got dropped off on my property and he started doing some work.

Unlock Greater Achievements Quickly by Properly Managing Your Resources

In just two days, the hundred-foot radius around our house was completely transformed! It was a fantastic thing to witness the progress.

The most amazing thing about this experience was how my kids were finally able to run around the house! We were able to have fun, do new activities, and spend time together as a family.

There was so much progress in just two days! Mind you, I was going to hire this guy for just about a month. But we’re going on for a few months now. A lot of plans have definitely changed—and these are very welcome changes.

Because of the monetary resources—God had been very good—we have been able to grow the business at ProSulum.com. We were able to find people who were experts on their niche.

To make the long story short, we have two sheds, we have two Conex Boxes that we use to store our stuff, we got two more dogs and built a kennel for them, and a huge deck was also built. We finished all these different structures in just two months!

This was all possible by properly managing resources by the consultants that we hired to do work around here. Should they build a shed from scratch or go out and buy some Tuff Shed? They know exactly what to do.

These experts were able to do so many things because of effective resource management. Now, we brought my mother-in-law over and she did not recognize our place at all! The area was completely transformed! She was absolutely floored!

What Makes an Effective Leader?

Now, we have a huge palette to build things that we would never have done before. And all these are possible because of properly managing resources and working with good leaders who know exactly which things are possible.

But why is this important?

As a leader, you have people, money, time—among other resources—at your disposal. What makes you good at building and growing leadership-wise is knowing what you have; knowing your people; and utilizing them as best as possible.

The more you know what your people are good at, then the easier it is to grow your business and team because you know how to allocate them well.

There is a website called TalentInsights.com where you can have your personnel take a personality test. It is very informative and great for hiring or growing your staff.

When you are able to manage resources and clearly see what you have and put that into play, it  changes the game for you as a leader. But the question is, do you know your people right now? Do you know exactly what type resources you have?

If you don’t know who your people are, maybe go and have them take a personality test! How much cash flow do you have? Do you have a good bookkeeper who is able to give you forecasts for all of your different finances? What are your resources and how can you put them into play so you can grow quickly and grow smart?

Conclusion

Change the way you do business and maybe along the way, even change your relationships for the better!

Resources and Links

This is Dean Soto. Go check out FreedomInFiveMinutes.com and ProSulum.com and I will see you in the next Freedom In Five Minutes podcast episode.


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