Apr 26, 2021
How to Build a Team with Matt Oviatt
2020 was one of the most trying years for most businesses due to the Covid-19 pandemic. Many businesses cut on great talents since they had to reduce expenses, and salaries were the best place to start. According to Matt Oviatt, cutting on talents is the worst mistake any business can make. Matt had an eye-welling moment in that season when some of his employees were ready to work for him without pay, and others were ready to wait until he was comfortable enough to pay them. Matt will be sharing his wisdom and knowledge on how to build a team.
Matt Oviatt is a fellow CEO. He is a high-powered real estate executive. Matt has built a fantastic team around him, and his company has a peerless company culture. Matt and I will have an in-depth conversation around building a team.
Listen in and learn
Key Talking Points of the Episode:
[02:17] Matt's backstory and how he got into real estate
[04:29] How Matt's business made it through the 2008 GFC
[06:28] How to build a team
[10:12] What inspired Matt to see real estate as a vehicle to wealth creation?
[16:44] Matt's decision to hire a COO
[24:11] Culture and team building
[29:32] Matt's evolution as a leader and who has inspired the change?
[39:48] Matt's take on working remotely
[41:13] Matt's business role model and how he continues to grow personally and professionally
[47:49] Real estate as a retirement vehicle
Quotables:
"The people that want to exit a business and just live on cash flow do not enjoy what they do."
"If you want to make sure that your people are accountable, and your marketing channels are accountable, and each part of your business is accountable, then you've got to know your numbers."
"When you take care of people for the value that they bring, when you willingly increase their compensation without making them come in to ask for it. That goes a long way for the people too.
“The true mark of a good leader is someone that has figured out how to replace themselves."
"When you hire talent and pay them well, you see the benefits*10 through your business."
"A tremendous amount of value comes from seeing people face to face, looking them in the eyes, interacting and joking around. Having those relationships and developing them is something that you just can't do remotely."
"Life's about people, and having good relationships."
"Delayed gratification is a sign of maturity. I think real estate is the classic mature investing strategy."
Resources and Links Mentioned:
Books:
Turn the Ship Around-L. David Marquet