Stories of Yahoo's move to end telecommuting has taken over the media by storm. So is working from home or using outsourced staff a bad move for wholesaling CEOs?
The ability to work from home has long been one of the largest draws to real estate investing for many years, just as outsourcing has held the promise of enabling investors to jump in sooner, grow faster and enjoy larger profit margins. So if Yahoo axed hundreds of remote workers or has at least forced them to come to the office, has that changed?
The reasoning behind the Yahoo memo was reportedly to do with getting staff to connect better, and considering the company's CEO has reportedly installed a nursery for her baby in her office it has nothing to do with avoiding distractions.
The bottom line is really that outsourcing and working from home has proven to result in higher productivity again and again. Multiple studies show home workers can work more hours without feeling burnout, get more done in that time, save companies (and themselves) real money by working at home and companies can use outsourcing to leverage better talent for less.
There may be some people for which working from home does not work or at least is not their best zone all the time. However, if it does work for you as a wholesaling CEO personally then do it. Certainly as the leader of a real estate business or any business today you simply can not afford not to take advantage of home workers. Yahoo will soon figure that out as they lose their market advantage, see profit margin shrink, have difficulty keeping and attracting good employees and see their reputation suffer in the press.
Of course in order to do it effectively remote working situations need the right connectivity tools and systems. Depending on the size of the operation it can be as simple as using free Google apps like Drive and Google+ Hangouts, to taking advantage of outsourcing platforms like oDesk for tracking employee hours and productivity or project management software like BaseCamp for streamlining communication and collaboration.
The only limiting part of working from home for wholesaling CEOs is if they let the fact that they work from home affect their perception of their value and credibility. Some of the world's top entrepreneurs work from home and many of the planet's top companies prefer working with those that do. So let Yahoo sink themselves. When was the last time you heard someone say they wanted to rank high on Yahoo anyway?
One day we'll probably hear that this fiasco was created by Yahoo's CEO becoming infuriated by one employee giving here down and making a rash rush to judgment. So if there is anything to be learnt from this news sometimes it is not to be impulsive or institute wild new rules off the cuff without testing or contemplating the wider repercussions.