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Damon Woodward Reveals His Strategy for Scaling Real Estate Business Successfully

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Damon Woodward is a high-profile real estate investor and the CEO of Leadway Holdings Ltd. and Blackcard University. Damon’s most recent deal speaks of his success. In October 2020, Damon purchased three apartment buildings with a total of 81 units, closing the greatest real estate deal in the history of Remax in Manitoba.

It took Damon a few years to achieve this great deal and expand his business. Now, he is more than happy to share his strategy for scaling a real estate business successfully.

The first thing that Damon wants to point out is that, “People and systems are what allow you to scale your business.” Damon strongly believes that one has to carefully choose who they surround themselves with, especially when it comes to their employees.

Damon chooses every single person who works with him, as he believes this is crucial for success. Damon makes sure to assess every member of his team carefully to determine their strengths and weaknesses. By doing so, Damon ensures that every team member is in the right position, can complete their tasks without any difficulties, and can build a successful career in Damon’s company.

“At this point, I’m quite aware of what I am good at and what I am not as good at, as well as what I enjoy doing and what I don’t enjoy doing. I have been able to find people I can rely on and trust in so that I don’t have to know everything,” Damon explains.

What is perhaps even more important than investing time and money in one’s team is perhaps investing in oneself. “The major difference between doing one deal and doing 12 deals is the mindset that is required. Mindset is not something that people learn by themselves; it has to be taught to them by hiring people who have already been there. These people can walk us through the process and expand our minds.”

Damon prefers working one-on-one with coaches and he hasn’t shied away from paying for the best. “I have spent over $100,000 on my personal development over the last few years, and every time I put a dollar in, I get to pull several dollars out. Hiring a coach to work with one-on-one is very important if you want to succeed,” Damon explains.

Damon also completed two programs at Blackcard University, the country’s number one real estate training company. Blackcard offers numerous programs to its students, ranging from one-on-one coaching sessions to programs such as ‘MI5’ or ‘Millionaire in 5 Years,’ which guides aspiring entrepreneurs to making a million dollars over five years.

Damon claims that the secret to his success is education and being surrounded by a world-class team he handpicked. He works with numerous coaches and consultants who teach him how to scale his business very quickly. In addition, Damon surrounds himself with the right people who can create adequate business plans and then execute those plans.

For more great tips and advice on real estate, make sure to follow Damon on Instagram (@damonwoodward3). Don’t forget to check out his YouTube channel, where he posts educational and daily-life videos regularly.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

The Ultimate Guide to the Essential Social Skills in Business

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Effective communication and strong relationships are essential for success in the workplace. One factor that can greatly influence these qualities is emotional intelligence, often abbreviated as EQ. EQ refers to the ability to identify, understand, and manage one’s own emotions, as well as the emotions of others. Research has shown that individuals with high levels of EQ are better equipped to handle stress, communicate effectively, and work collaboratively with others (Chamorro-Premuzic & Sanger, 2016).

Research has consistently shown that emotional intelligence (EQ) is an important predictor of job performance and success in the workplace. EQ is comprised of a set of skills that allow individuals to recognize, understand, and regulate their own emotions, as well as the emotions of others. In addition, individuals with high EQ are better able to communicate effectively, build relationships, and navigate complex social situations. As a result, they are often viewed as effective leaders and collaborators, and are more likely to achieve their personal and professional goals.

In fact, a number of studies have demonstrated the significant impact that EQ has on job performance and success. For example, one study of 85 upper-level managers found that those with higher EQ scores were rated as more effective leaders by their subordinates (Law, Wong, & Song, 2004). Another study of 151 employees found that those with higher EQ were more likely to be promoted within their organization over a five-year period (Carmeli, Brueller, & Dutton, 2009). These findings highlight the importance of EQ in the workplace and suggest that developing these skills can lead to significant benefits for both individuals and organizations.

According to a study conducted by TalentSmart, a leading provider of EQ assessments, EQ is responsible for 58% of success in all job types (Bradberry & Greaves, 2009). In contrast, IQ only accounts for about 4% of success in the workplace. This suggests that EQ is a crucial skill set for individuals in any professional field. Fortunately, EQ is a skill that can be developed and honed over time with practice and awareness.

There are several key components of EQ that are particularly important for success in the workplace. These include: 

Self-Regulation: This refers to your capacity to recognize and control your emotions. Sometimes treating them when they arise may be necessary. Understanding how to manage your anger is essential. However, it can also cover how to control the feelings you’ll experience.

Self-Awareness: This implies recognizing and understanding your own feelings. Do noisy places make you nervous? Do other people talking over you make you angry? Knowing these truths about yourself shows that you are working on your self-awareness. Being conscious of yourself is necessary for this phase, which can be more complex than it sounds.

Socialization: This category focuses on your capacity to manage social interactions and direct relationships. It doesn’t entail dominating others but knowing how to work with others to achieve your goals. This could entail presenting your ideas to coworkers, leading a team, or resolving a personal disagreement.

Motivation: Strong motivators include external forces like money, status, or suffering. Internal motivation, however, plays a significant role in Goleman’s concept. By doing so, you demonstrate your ability to control your cause and initiate or continue initiatives of your own volition rather than in response to external demands.

Empathy: It’s equally critical to be sensitive to others’ feelings. This may entail learning to identify different emotional states in individuals — for example, can you tell the difference between someone at ease and someone anxious? — but it also requires comprehension of how other people may react to their current situation. Empathy is one of the essential traits in business and business leadership.

A thought leader in this space, Michael Ventura has built a career advising organizations on the importance of emotional intelligence in the workplace. In his book, Applied Empathy, Ventura highlights the value of empathy in business and provides strategies for developing and applying this skill set. With two decades of experience as a leader, facilitator, and educator, Ventura’s work has made impact in with prestigious institutions such as Princeton University and the United Nations as well as corporate clients such as Google and Nike.

Through his work, Ventura advises leaders to focus on the development of EQ in order to help individuals improve their communication, collaboration, and leadership skills, ultimately leading to greater success in the workplace. Experts like Ventura continue to support the growing body of research on the value of EQ in business, and the evidence that organizations who invest in the EQ of their teams help to create a more empathetic and successful professional environment.

And it’s worth noting that EQ isn’t just important for individual success in the workplace, but also for overall organizational success. A study by the Center for Creative Leadership found that EQ was a better predictor of success than IQ or technical skills in the workplace, and that teams with higher levels of EQ tend to be more effective and productive (Boyatzis, Goleman, & Rhee, 1999). By cultivating a culture of empathy and emotional intelligence, organizations can improve their overall performance and create a more positive work environment for their employees.

In conclusion, emotional intelligence is a crucial component of success in the workplace, and individuals and organizations alike should prioritize the development of these skills. The ones that do not only develop a leading edge in their category, but also become a meaningful place to work for their teams. And in today’s rapidly changing talent landscape, the retention of highly capable, emotionally intelligent leaders is one of the greatest keys to unlocking success.

References:

Boyatzis, R. E., Goleman, D., & Rhee, K. S. (1999). Clustering competence in emotional intelligence: Insights from the emotional competence inventory (ECI). In R. Bar-On & J. D. A. Parker (Eds.), Handbook of emotional intelligence (pp. 343-362). Jossey-Bass.

Bradberry, T., & Greaves, J. (2009). Emotional intelligence 2.0. TalentSmart.

Chamorro-Premuzic, T., & Sanger, M. N. (2016). Does employee happiness matter? Journal of Organizational Effectiveness: People and Performance, 3(2), 168-191.

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