“The way to get started is to quit talking and begin doing.´
-- Walt Disney
Walt Disney took an idea, transformed it into a concept, and turned theseinto a multi-billion dollar enterprise by executing what he implemented.
Can you imagine the drive he must have had to execute that vision?
At the root, the cartoonist acted upon his passion, his individual why. Mr. Disney’s approach applies to the real estate industry, too.
If we do not execute on what we have implemented, we will not get thedesired results.
For example, in football a player can run the play, but if the player does not execute the play effectively the desired result will not happen.
Or, let’s say you have a recipe. You can gather the ingredients, but if you do not execute the directions as written, you will end up with a mess.
Same thing in real estate. You implement by paying for leads, but if you do not have the proper follow-up with the proper sales script, you will not execute and close the deal. If you advertise an open house and do not prepare for the opening and follow-up with interested parties, you will not achieve the desired results. You implemented but failed to execute effectively.
Without the proper execution Harvard Business School says 90 percent of businesses fail in achieving their strategic goals. Although many people find that executing what you have implemented is difficult, that does not suggest it is impossible.
Empower your team members
"You don't build a business, you build people, then people build the business."
--Zig Ziglar, American author and salesman
As my father always advised, if you do the same thing the same way, you will always get the same result. The execution of what you have implemented must focus upon the goal and its intended results, all while executing consistently daily.
Ensure that your team members understand your business’s strategic goals and how their own contributions and responsibilities serve to achieving the company’s goals and making them a reality.
Beginning with your staff, it is best not to surround them with a list of job responsibilities and tasks that will force them to spend their work time on minor details and efforts that are not directly aligned with the company’s goals.
A better course of action is to have the staff concentrate on what exactly is necessary to accomplish the assigned goal. Assign specific goals for each team member and keep the approval process and busy work to a minimum. You are not building a bureaucracy. You need to empower the staff.
By empowering individuals, they will soon take ownership of the job they are hired to perform and the intended accomplishments. You will also establish an employee who performs like an owner in accomplishing the strategic goals of the organization.
Measure and monitor performance
“What gets measured gets done.”
-- Peter Drucker, management expert
You will not know if you are being successful without real data from key performance indicators (KPIs). These show objective evidence of progress toward achieving a targeted performance goal.
Choose your KPIs to track your progress and improve – the leading indicators predicting specific outcomes and the lagging indicators which track what has already happened, as well as milestones for gauging progress and insights to make better business decisions.
Use the SMART formula for choosing your KPIs – specific, measurable, attainable, realistic, and time-bound. Revise your Key Performance Indicators to keep them current as the business grows or adapts to changes in the market, customer base, and the business itself.
Leading KPIs commonly applied in the real estate industry track leads, calls, contacts, appointments, and contracts written. Lagging KPI's are your closed contracts in units, volume and your GCI.
As an example, KPIs specific for real estate agent focusing on listings are how the agent’s listing-to-meeting ratio, compare how many listings they have with how many meetings they have with prospective clients, shows if they are using time well or not.
Execute your marketing strategy
“Content is king, but distribution is queen and she wears the pants.”
—Jonathan Perelman, albinen co-managing partner
The internet is a marketing bonanza. Your business website is a first impression and it must look and be professional. Do not try to do it yourself. To execute what you have implemented contract a professional web designer. Do your due diligence by interviewing three of them to determine how they work, their skill and level, and their creativity. Describe in detail what your web presence needs to accomplish. Then have the web designer of your choice give you three concepts to help you narrow your focus.
Your website needs to have relevant content. Contract with a marketing company to develop print, photographic, and video content that follows your priorities. The marketing firm you choose should be professionally able to write your website’s blog and other collateral. Review this content for approval to move forward.
Keep your website content fresh and updated monthly with new information about your successes and achievements.
Accountability is crucial
“He that is good for making excuses is seldom good for anything else.”
– Benjamin Franklin
Without accountability, execution of what you have implemented is impossible.
As the leader of your real estate business, you are responsible for setting goals and outcomes so the people who are doing the work are accountable for their contributions to the bottom line.
Leadership must take every opportunity to talk about purpose, goals, and results, which offers an improved sense of direction and the mission for staff.
Real estate leaders and teams that perform well talk to one another, sharing information and insights, as time passes and the business evolves. They offer and receive feedback, and from those exchanges, adjustments that can be made are allowed as the insights and outside influences change the business landscape. Without this team and leadership communication, teamwork diminishes and executing what you have implemtned suffers.
Adjustment is crucial and troubleshooting is necessary to identify and correct what has or is failing the business.
Changing conditions in the business environment that are far beyond anything you can control – most recently and devastatingly – the recent SHIFT in the market – requires a re-evaluation of procedures and perhaps even goals.
Executing what you have implemented is demanding so getting some help will make it easier.
Free consultation to empower yourself
My coaching will help you achieve your success in a shorter amount of time with fewer headaches. Begin your road to success by scheduling a complimentary consultation with real estate coach Justin M. Baker. I can assess what you are doing right and wrong and how to execute what you have implemented. Leave the normal you behind and become the Super You. Call, email, other contact information. Get started on your future right now.
About real estate coach Justin M. Baker
Justin M. Baker has 21 years of expertise in the real estate industry with much of it coaching and managing real estate agents, teams and brokerages. Most of his emphases focuses on helping teams and brokerages to eliminate unprofitable concepts and increase profitability. Working with teams and brokerages his proven tactics have enabled companies to drive their revenue by up to 50 percent and more in less than one year. His concepts enable brokers to work smarter and earn more while providing more personal freedom for life outside of the job.
His ideas will enable you to work more efficiently and improve earnings while allowing you to have the freedom to enjoy life away from the job.