Aug 13, 2022
In this episode of The MHP Broker’s Tips and Tricks podcast, Maxwell Baker, president of The Mobile Home Park Broker, will explain the principles of Lifestyle Design and how it creates better work/life balance. Then he’ll offer eight tips that can help get you and your company there.
This and every Tips and Tricks podcast episode are brought to you by The MHP Broker’s’ proprietary Community Price Maximizer. Use this four-step system to get the highest price possible for your mobile home park or RV community when you sell it through The MHP Broker. Guaranteed. Ask Max for details.
Here Are the Show Highlights:
- Max explains how the lifestyle design concept improved the way he does business. And it supports his belief that the fundamentals of business need to be “boring.” That is, the process should be established and closely followed to avoid unpleasant surprises. (0:58)
- He discusses how, when he started The MHP Broker in 2009, it was one of three jobs he held down just to survive. He worked 80-hour workweeks and wracked up credit card debt of nearly $30,000. He also had an unreliable partner who soon left the business. (1:46)
- As difficult as it was, it was what he had to do to keep on going until he could make a success of his company. It’s why people come from all over the world to the U.S. because it really is possible to live the American Dream with a whole lot of hard work. But it wasn’t the life Max wanted to live over the long run. (2:55)
- Gradually, over time, he came to see how he could gain a better work/life balance by running his business through lifestyle design. He lays out eight concepts of lifestyle design, starting with reading two inspirational and highly recommended books on business: The 4-Hour Workweek, by Tim Ferriss, and The World is Flat: A Brief History of the Twenty-First Century, by the noted economist Thomas Friedmann. One lesson he learned from the books was how to work virtually, in collaboration with professionals with unique talents from all over the world. His first and most valuable remote collaborator was a woman from the Philippines who, like Max, regularly turned in 70-hour workweeks. She worked closely with Max for two years and helped him grow his company. The MHP Broker now rents office space in Bangalore, India, and employs a staff of eight there to handle project management, research, property management, accounting, HR, calendar management and other responsibilities that don’t require a physical presence. (3:53)
- The number two tip for achieving better work/life balance and lifestyle design in work is regular planning. Max and his wife, Kathryn, hold quarterly and annual meetings. The key is to not just plan business activities long-range, but to figure out how to become a better person, as well. (5:21)
- The number three concept is to treat your employees fairly and better structure your expectations of them. You can do this by expecting them to specialize in one to three areas. In this way, they won’t feel lost or intimidated, and you can expect to see winning results because they’re well trained, comfortable with their responsibilities and confident that they know what they’re doing. (6:27)
- The number four tip is to always have training manuals. When you put policies, procedures and expectations in writing, fewer mistakes are made. Max’s company currently uses the digital work management platform Asana in this regard. Everyone knows and can use the program and the content stored there. (8:00)
- Tip five is to stay flexible and keep your mind open for new and better ways of doing business. Read, listen and discuss. Don’t ever think you know it all, no matter how long you’ve been in business or your position of power. (8:48)
- Tip number six: eat right and stay active. Max and Kathryn hold walking meetings. And they (usually) try to eat nutritiously. Diet and exercise add to the “life” aspect of work/like balance. (9:34)
- The number seven tip to lifestyle design in life and business is to be good to yourself. Earlier in his career, Max was extremely hard on himself, and that would cause periodic burnout. He took to writing in a journal, exercising and even seeing a therapist to learn how to be less self-critical and improve the quality of his life. (11:30)
- Max’s last tip is to refrain from always comparing yourself to the competition and other super-successful people. You’ll always feel like you suffer in comparison. Work instead on becoming a better you. That’s more productive and a better way to live your life. (12:50)
Reach out to Max if you’d like to hear more about lifestyle design as a better way of running your business and your life. Just drop Max a line at info@themhpbroker.com or give him a call at 678-932-0200.
Power Quotes on This Episode:
“…the fundamentals (of your business) need to be about as boring as watching a snail cross the road.” (0:58)
“I think I made $3,500 on my very first deal and the credit card debt was close to $30,000 even with the three jobs I had.” (1:46)
“...in the beginning, you have to work like a madman to make it.” (2:55)
“One of my first people that ever worked with me, she was a girl from the Philippines and man, she was a champion. This poor girl was working the same hours I was. I was doing like 70 hour weeks…” (3:53)