How to incentivize/optimize a summer student

TangoWhiskey

Frequent Forum Member
Registered
I got gov't funding to hire a business student to work in my RE investing business. The tasks he is to do is broadly:
1 develop and place all accounting and other systems on the cloud so I can invest from anywhere in the world
2 develop a list of all owners of commercial and MF RE in my two target markets and start marketing direct to owners
3 develop web sites and work with me to help monetize our own story of changing our lives through RE and gaining financial independence in 4 years.
Meanwhile I raise capital for opportunities found and possibly get a realtors license on the commercial side.
My question is how to incentivise this guy to make him hungry for success yet recognize that he is graduating next year and plans to leave the province - I was thinking of a 4 figure wholesale or some kind of fee for each building that closes but then other than developing the list of addresses and owners and sending out letters he won't do anything else, his number won't be on the business cards included, and he doesn't know enough about RE to have meaningful input. He's a secretary more than anything. Perhaps I should focus him on to the web concept and reward with a percentage of sale - what do you think 15 % of net web revenues?
Thanks in advance
 

Thomas Beyer

Senior Forum Member
REIN Member
Revenues or incentives work for some people but not all, Tris. Ask him: if I paid you $1000 for X would you work harder ?
 

Courtney Hammond

Courtney Hammond
Registered
I'm curious how you applied for govt funding for your student.

Also- I agree with Thomas- it would really depend on the student as to why/if he is unmotivated. It will come down to why he is not hungry for success.

You may also consider having a research/book reading encouragement. If your hope is that while he is with you he will work hard- but also that when he leaves he will be skilled to be self motivated- why not bring some great reading resources into the picture... off the top of my head I don't have a list but I know a lot of my drive comes from reading leadership/personal growth/business success type books. (The ones always recommended through many REIN meetings etc). I'm not sure how you would- but if he is bored... money may not motivate him. If he is just naturally lazy- money also won't change that.

The website idea could be great if that works for him.

Instead of spending your time thinking what might work for him- I'd sit down and ask... then develop something with the conversation in mind.
 

adriano

Frequent Forum Member
Registered
I am also curious how you got government funding for your student. I was hoping you would share this with us. I am very interested in this.
 

TangoWhiskey

Frequent Forum Member
Registered
I am also curious how you got government funding for your student. I was hoping you would share this with us. I am very interested in this.

Each province is different in terms of subsidies and programs but i'll bet that there are programs in each provinces for hiring student graduates.

In Nova Scotia there are quite a few in fact. I've attached the link for the program I used. https://novascotia.ca/programs/co-op-education-incentive/
 

kfort

Senior Forum Member
Registered
Go read the book "Drive" by Daniel Pink. Don't have time to read? Liar. But maybe you've got a commute & can listen to the audiobook.
Enjoy
 
Top