Essential Mechanics of a World-Class Business

As a Realtor, investing in your future business needs may seem silly to some when all you really want is the phone to ring and the leads to convert to sales. However, without a proper foundation it’s difficult to fully capitalize on all the marketing and lead generation that’s being done or to grow a sustainable business. Many years ago when I was founding Transaction Management Consultants, I read the book “The EMyth Revisited” by Michael Gerber, which totally changed the way I thought about business. I learned that no matter how big my transaction coordinator team got, the only way it would be successful is if I looked at it from the eyes of an entrepreneur, not a transaction coordinator. Early on it wasn’t easy, but I learned that investing in creating the essential mechanics for our business will ensure that we are getting the most out of our time and dollars. Here are some of the common mistakes that can derail success and the solution to get on track to having what you want in a business: 1. Lack of clarity – Not knowing where we’re going will get us nowhere fast! You can’t take a client out to see a house without having directions on how to get there. Likewise you can’t create a successful, sustainable business without knowing where you want to get to. Solution: Get clear about what you want to achieve, document it, review it, and crystallize your vision. 2. Fighting Fires Instead of Building Empires – If you’re constantly running from one emergency to another, you’re not able to build your business to work for you. Not to mention the mental and physical fatigue that comes from running on adrenaline non-stop. Solution: Develop systems to help you be proactive, as well as to enable you to delegate or eliminate some of the work. 3. No Plan – “He who fails to plan, plans to fail”. This proverb says it all. Without a plan, we are not in charge of our destiny. Solution: Spend time daily planning your activities that are both a part of your daily to-do tasks, as well as those that help you work on your goals. 4. No Accountability – Having no one to keep us accountable to our goals makes it difficult to achieve them. While we may have loads of desire and ambition, when things get tough we need someone to hold us to the wall, maybe even hold our hand, and help us get past the hurdle. Solution: join a mastermind group, find a coach or get a partner to help hold you accountable. 5. Poor Time Management – There are only 24 hours in a day, no matter who we are, we can’t have more. To get more done, we have to do more with the time we have. Solution: Learn to prioritize the most important tasks and do them first. Invest in a time management system and use it. I like to plan my goals and projects as well as appointments in Google Calendar. 6. Trying To Do It All – There is a myth in the real estate world that you can do AND have it all, alone. When we believe in this myth we become frustrated, exhausted and eventually burnt out. Solution: Get some help, hire an administrative assistant, a Transaction Coordinator or someone to help you build your business while allowing you time for a life outside of it. Sometimes a simple strategy session with a mentor or coach can get you on track with a clear actionable plan. Other times a regular mastermind group can help you stay accountable and get input from fellow entrepreneurs. Over the years I’ve benefited immensely from many mentors and coaches. While being helpful and mentoring someone feels great, I believe being a mentor is also a way to hold us accountable to our dreams. When we share what we’ve learned with others, it helps to remind us of the “things” we’re suppose to be doing to create the business and life of our dreams. Remember , nothing great was ever accomplished alone. Surround yourself with people who can help support you in reaching your goals. Keep following your dreams, you’ve got something special within you and no one else can offer that special something the way you can. Stick with it and stay focused, the world needs that special gift you’ve got!