Mid-Year Evaluation (Part 2)

Mid-Year Evaluation (Part 2)

“If you want to go fast, go alone. If you want to go far, you need a team.”

– John Wooden

So here is what we’ve decided! We want to be your Team!  The next series of blogs are designed to support you in the mid-year pause and provide a weekly guide (in June) of just what that looks like. Here is the overview:

1. Evaluate the Source of Sale:
2. Know your Numbers:
3. Evaluate Follow-up Practices and Habits:
4. Strengthen Your Bench

This week is dedicated to setting aside time to “Evaluate the Source of the Sale.”  When we do that, we truly pause to look at each closed transaction and physically record the source from which the lead came.

The reason this is so important is that we constantly hear very generalized statements from Agents as to where the business came from…sometimes they truly know the source, yet often there are assumptions made and once this exercise is complete, tremendous insight is gained and growth occurs.

So, in this exercise, it’s imperative to get really granular.  What that means is to create very specific, granular categories and drill into each transaction closed. Those of you who know me know that I truly have a simple mind. Therefore, my recommendation is to simply make columns on a sheet of paper (or Excel spreadsheet if you are feeling fancy) and then branch from each.  As an example, should the source of sale be “sphere”, define who, what and how.  You might have the category of “Sphere” with branches to include school/church/kid’s education/recreational activities/Yoga class/Gym/Book Club…etc.  Again, drill down on each lead to define the source.

This is how we determine what we need more of and what we need less of.  As an example, if 1% of your business is coming from paid lead-gen systems, although trendy, paying for leads may not be the best spend of your time, energy and money.  The most efficient and effective way to grow the business is by identifying who and what is feeding your transaction count and who and what needs more of your time, energy and financial attention.  And make the adjustment!  Now!

Upon completion of this exercise, we have three great opportunities:

1. Determine what shift is needed. Your opportunity becomes quantifiable. After fully pulling this part of your business apart, you can determine the KPI on each resource.
   a.  Financial
   b.  Time
   c.  Energy
2. Evaluate what business was lost. This one gets personal and takes courage.  As you look at each category, think honestly about how many opportunities you neglected to follow-up appropriately on.  No judgement. Only curiosity. THIS is when growth takes off!
3. STOP and celebrate those who are supporting your business. Once you’ve identified referral resources…take a moment to celebrate each and show gratitude.

Slowing a bit at mid-year may speed your business up and ensure you have the best 2^nd half ever!

Be a resource, not a sales pitch!