“If you want to go fast, go alone. If you want to go far, you need a team.”
– John Wooden
Let’s discuss strength-building this week! It’s all about technique, best practices, habits and most of all…follow up!
As we retrieve the 2018 Business Plan, check where we are and evaluate what we need more/less of, slow down to speed up and take business to the next level, listed below are a few key steps to take, areas to assess and questions to have answered:
- Technique: Tools, Resources and Benefits:
Are you tapping into the power of what your office (brand) provides for you?
We are often shocked and saddened by the powerful resources, tools and benefits provided to “members” (Including Brokers/Managers and Agents) by their leadership, brand and office that remain untapped. So often, the most powerful tools in the industry are hiding in plain site, right under your nose.
A. Inquire. Find out what you have available and discern if it is right for you and your business model.
B. Seek to understand what is being provided and the best person available to help you to understand how these resources will make a difference in your business practice.
C. Identify the individual for each resource provided and understand how they use it to maximize the potential and it’s benefits to your business. Model their success.
- Best Practices and Habits:
Have you sharpened the saw? Now is the time to evaluate each system and practice that you engage in and streamline to best support your model and goals.
A. As you pause to evaluate and build your strength (as we discussed in last week’s Blog entry) remember to evaluate the source of each sale.
i. What is the ROI on each?
ii. Where do you need to invest more/less time, talent and energy?
B. Now the heartbreaking part of the exercise; evaluate how many transactions potentially fell through the cracks.
i. What action could have been taken to ensure you managed your time better to respond to leads timely enough to secure the transaction?
ii. What non-income activities can be leveraged in order to ensure you manage your income producing tasks more effectively?
iii. What activities do you “catch” yourself doing that are hindering your production?
It’s impossible to know what to give away until you have identified what you do.
So simply, make a list. Make a list of everything you do—in writing, in detail and then determine:
i. What do you need to start doing each day for greater success?
ii. What do you need to stop doing each day for greater success?
iii. What tasks may be “given away” and not taken back to better position you for greater success?
iv. Consider your resources:
1) On-site Licensed or un-licensed assistant (assistance)
v. After discernment and evaluation; give it away and move towards greater production, profitability and life/work balance.
- Looking Back to Move Ahead:
First, understand there are two steps in the “follow up” discussion and one should not be confused with the other…and in our opinion, this is the most critical of all steps in this process:
i. The art of looking a “back” and evaluating:
1) What is working? What is not working?
2) What do we need more of? What do we need less of?
3) How are the members of the team “performing”?
a) Are appropriate expectations being set?
b) How is communication between all parties?
c) Is the appropriate “space” being provided?
(1) Avoid micro-managing
(2) Avoid macro-managing
ii. Has the appropriate training/education been provided?
1) Are there checks and balances in place
2) Are we providing what is needed today and for the future of the industry
B. Follow Up:
i. Master the follow-up:
Every emotion surfaces during this conversation. More business is lost with lack of follow up than any other activity in our industry.
1) What practices do you have in place to ensure that you are following up with each lead in a timely manner?
2) What is your check and balance?
ii. Who is your accountability partner?
Coach Wooden understands that to “go far” you need to power of the pack or tribe. You need a Chief, a Coach or a Business Manager. As you move forward to finish the year strong, who is yours?
Slowing a bit at mid-year and evaluating your performance and production numbers will speed your business up and ensure you have the best 2nd half ever!
Be a resource, not a sales pitch!