Morning: MEDS
1. Meditate - slow down and calm your brain and get to a place of serenity
2. Exercise - This will kickstart your day, bring confidence and move your blood and oxygen through your brain
3. Diet - Eat Right for Energy and DON’T wait until you are starving. Be conscious and fill your body with the right fuel
4. Sleep - Make sure you get at least 7 hours to wash your mind of toxins - knock out the blahs and find clarity faster!
Your morning routine calibrates your day. It starts you in the correct direction as many things will come out. It helps you deal with the pressures throughout your day because you began with a solid “pre-foundation”. Once embraced, you will immediately feel the difference and once this becomes a habit, you will never want to miss this step!
Call to Action
: Build this into your calendar today and start tomorrow. As a Leader, put this in play immediately as we lead by example. This will allow you to coach your Sales Executives on this process and have them Report back to you when this is completed.
Today’s date is: __________________
Task completed on this date:______________
1. UNDERSTANDING WHAT YOU TRULY WANT
“THE JOURNEY OF A THOUSAND MILES BEGINS WITH A SINGLE STEP.”
-LAO TZU
Why do you want these things? What barriers do you perceive to be in place? How will you rate your success? How will you feel when you accomplish this?
• What do you want? More time, More Money, Better Relationships? A blend?
• Why do you want this? What will you do with more time or money or better relationships?
• Break down what you want into Business, Personal and Health categories.
◊ Break those down into bite sized chunks with end dates on each.
• What are you willing to give up to earn the items that you want?
• Are you willing to be held accountable? At the highest level? Accountability Partner?
• What are the obstacles you perceive to be in the way from you accomplishing your goals?
◊ Are you willing to remove those obstacles?
• Are you willing to take massive action to achieve your goals NO MATTER WHAT? THIS IS KEY!
◊ Are you willing to do what it takes as long as it is legal, ethical and moral to achieve your goals?
• Are you willing to write down, schedule and share your goals with others?
• If you are on a team - are you aligned professionally with your team members?
◊ Are your core beliefs aligned?
• NEXT Stage
◊ How will you feel when you accomplish your goals?
◊ Each one specifically, may trigger a different feelingLive in this moment for a minute.
◊ How will you know when you have accomplished your goals? Timeline? Milestones?
Ultimately, clarity is paramount to your success. Being clear on the items you desire most in life, the stronger your chances for success become. Imagine what it feels like to truly experience what it is you want before you get it… You must begin by living in that moment. Visualize this, close your eyes and imagine how you feel when you accomplish this. What does it look like around you? What is the temperature? Is it light or dark? What are the smells around you? What sounds do you hear? Is it in color or black & white? How do you feel inside? Imagine you have already accomplished and received all that you want and live in that space for a few minutes so you know how it feels. Look around you, and truly immerse yourself into that time in your life. Now anchor that feeling so you know exactly how that feels. By setting that anchor, you now have the ability to go back and feel those feelings again along your journey.
Why is this important?: Without understanding what it is you want, how do you know when you get it? If you are planning a vacation, you start by picking a destination. (Somewhere you WANT to go.) Once that is complete, you begin thinking about the experiences you hope to have, what you will see, what you will eat, where you will stay, how you will get there and ultimately what you expect will happen. You will build a plan, make decisions, set a course and take action. You will follow the course (with some exceptions) to get the experiences you wish to have. You are intentional about your direction and are marking different milestones in your mind while the experience occurs. Your journey leads you to a destination. (This is no different than what you are doing by answering the questions earlier in this module.) The goal is to work together to build your personalized journey that helps you navigate through this building process.
Call To Action
: With a sheet of paper, title it “What I want”. Write out everything it is you want (by answering the questions above) and why you want it. Make a copy for your Manager and schedule the time to sit down and talk through so everyone is clear as to what’s most important to you. Sign and date it (both parties) once completed. Keep a copy with you or posted somewhere so it is continually front of mind.
Next Level
: Tony Robbins, and other Personal & Professional Development Gurus - attend events, purchase books and put in the work. These gurus do not have to be industry specific as you are working on you (which ultimately will translate to your business).
Most importantly, to become a successful Sales Executive and Business Owner, this level of clarity is critical as a foundational element to building your business. If you are unclear on what it is you truly desire… where will your motivation come from? Knowing what you want will allow you to foster positive thoughts and keep you on track. Our Leadership Team will help you understand what it is you want, why you want it and then work with you to ensure you are moving closer and closer to your goal. Doing this on your own can be challenging which is why we will work together toward your success.
2. HOW YOUR CORE VALUES AND BELIEFS WILL BUILD A BUSINESS
“YOUR PERSONAL CORE VALUES DEFINE WHO YOU ARE, AND A COMPANY’S CORE VALUES ULTIMATELY DEFINE THE COMPANY’S CHARACTER AND BRAND. FOR INDIVIDUALS, CHARACTER IS DESTINY. FOR ORGANIZATIONS, CULTURE IS DESTINY.”
-TONY HSIEH
What are your Core Values and Beliefs? Are you clear on these? This is a foundational step in your journey to building your business. When creating these, they must be in alignment with what you want. If not, it will be difficult to move forward.
Have you ever taken the time to think about what these are in your life and what they can do for you? If not, you are not alone. Most Sales Executives have not, which has hindered their acceleration in growth as well as the ability to grow a business. We are with you on this journey as we will work closely helping you identify your values and beliefs allowing us to begin taking action!
To give you an idea of who we are… Our organization values Teamwork, Trust, Courage, Consistency and Integrity. Everyone on our team has agreed to and abides by these core values. Knowing where we stand, are we in alignment with you? If so, we may be a great fit together.
a. What are your Core Values? Make a list.
b. What are your beliefs?
i. Do they align with your goals? They MUST in order to be successful.
c. Do they align personally, professionally and health wise?
d. The power of your belief system… If you think you can… You’re Right.
i. Subconscious…
ii. Massive Action
iii. Frontal Lobe
iv. Passion
e. Are you willing to build a personal CODE OF HONOR and Stick to It no matter what?
f. If on a team are you willing to build a team COH and stick to it no matter what?
Code of Honor: This is the foundation for your core values and beliefs. This is your written set of rules that you agree to adhere to, no matter what. What do you believe as an individual or team? What will you all agree (100%) on as a set of rules for your business and how you will be perceived by others? This is a bullet point list on the foundational items of your business. Each of you follow these rules and can be called out at any time by anyone if you are found not to be following these rules.
Example… Our Team Believes in Integrity - We Believe in Serving First - We believe in Honest and Fair Dealings (which could be classified under integrity). Typically you will have no more than 10 items on this list and they will be broad to cover many items.
If an item on the Code is broken by a team member, they could be called out by another. For example, if a Team Associate finds that the Team Leader is not Serving First and is operating from a place of “Commissions First”, they could and should be called out (respectfully) by the Team Associate in order to move back towards the Code in which all parties agreed upon. This level of structure not only allows complete transparency, it opens effective communication and direction as each member knows how to operate in order to be a part of the team.
Build your COH Sheet. Commit to having this completed by
Call To Action
: Sign it (and have your team sign it) and give a copy to your Manager. If a team, make copies of this and make sure everyone has one and if possible, keep it visible as a reminder to how you operate as a business.
Next Level
: By completing this COH as an individual or as a team you are telling yourself as well as those around you what you expect and what defines you and your business. This is a written set of rules and guidelines as to how you communicate and what is acceptable for those who wish to work with or for you. You can level up by printing a copy of your COH in various forms. Wallet sized for each person on your team and your family. Poster sized to hang in your office where visible to everyone. And lastly build this into your calendar and your MEDS each morning as part of your routine and a reminder of what you stand for until this becomes a habit.
3. HOW TO SUCCESSFULLY INFLUENCE RELATIONSHIPS AND WIN MORE BUSINESS (“CLIENT” BASE MANAGEMENT)
“WHEN YOU COMBINE IGNORANCE AND LEVERAGE, YOU GET SOME PRETTY INTERESTING RESULTS.”
-WARREN BUFFETT
We work with you (and your team) to help identify key characteristics within your sphere of influence. From there, we will help you break them out into specific categories that can be loaded into an all-encompassing database management system often referred to as a CRM. Once your sphere is loaded into a CRM that you are comfortable with (whether it’s ours or yours) we will work with you on messaging and deployment for the best ways to interact with each. Part of your database may receive automated messages from you while others may simply have reminders set alerting you to special events or times in your client’s life. We have thousands of different templates in our system allowing you to deliver relevant content in real time. We also have various reporting methods which give you the opportunity to reach your database at a hyper-local and granular level. The system is designed to work while you sleep! Or perhaps while you work in another aspect of your business since you are freed up to do so. Your Database is foundational and will continue to grow as you grow your business.
So… what is a database management system? If we are speaking in terms of anatomy, this is the “heart” of your business.
a. This is the asset you OWN that fuels your business by generating cash flow
b. This is where you acquire your commission income
c. Manageable where you have the control
d. Long Term Value created – when used effectively
e. Boosts your Productivity - automated tasks and reminders
f. Cash Flow and Asset Value
Many skip this important step which causes a break in the system and slows forward progression. If you treat this as the heart and exercise this muscle, you will have better relationships, more time and more money. Let us help you build and deploy consistent and effective communication between you and your clients.
Your sphere should represent a minimum of 75% of your closed business when managed correctly which is why continued engagement is necessary. This is the beginning of your plan and will grow your sphere at a rate of 20%+ per year. Couple this with your current Average Sales Price your sphere provides and we will help you determine how many transactions you will need to accomplish your goals. Or if you prefer, we can work with you to elevate your ASP and create additional wealth as you build and manage your sphere.
4. CREATING CONSISTENT AND DEPENDABLE INCOME (DRC)
“ACCOUNTABILITY BREEDS ABILITY.”
-STEPHEN COVEY
What is a DRC? A DRC is your “Daily Revenue Commitment” which you create based on your personal and professional goals. This practice is designed to help keep you focused on your “Urgent Few” and the critical tasks allowing you to be more effective in your business. By committing to something you are saying… “I will” not “I will try”. Revenue goals help you define what your success looks like. This is a separator for those who wish to build a business and career. With our commitment to playing an active role, we will help you accomplish more than just selling a few homes, compared to those that wish to sell a few homes. Both are welcome in our organization, however our primary focus is to help our Sales Executives become Business Executives who wish to create a sellable asset.
We take DRC’s seriously and our Leadership Team will work directly with you to help identify the lead measures (tasks) that will help you achieve this consistently. We will help you break through any limiting beliefs that may be holding you back. You know… the little voices that say, “I just don’t want to do this.” We get it, building a business with consistent, sustainable revenue is not easy. It is effective though and once engaged with this process and as results develop, you will quickly begin to shift your mindset and excel as your business takes shape.
What does a DRC look like? Answer… INCOME!
Here is what a DRC will do for you…
1. Reminds you WHY you are doing what you are doing
2. Creates a consistent income – you can count on!
3. Fits well with ANY daily routine
4. Set up to Support Your Strengths
5. Creates Clarity around your Daily Purpose
6. Will directly Support your Goals
7. Takes the place of an actual business plan – Lead Measure for the DAY!
a. Less is more – don’t do too much – Pick what is Attainable and you will often overdeliver.
b. Understand that there will be some items that will take less priority given this new habit you are building
8. Gives you the ability to afford the Marketing (Maintenance and Growth) AND Financial ability to hire administrative and operational support staff
9. Also gives you the ability to afford “fun freedoms” of life!
If you ever say… I cannot afford it then YOU DO NOT HAVE A DRC. -Mark Stark
Not to simplify this yet, if there is something you need to build your business - begin by creating your DRC.
Think about it… “I need an assistant” Ok, what does that assistant cost you? $50k - $60k? Great, now that you know the cost, where can you find the resources to pay it? Well, if you sell 2 homes at $1M (which every 4th home in Vegas now is $1M+) that roughly gives you $24k at an 80% split. So, if you sell two additional homes that year, you can now afford an assistant.
Now let’s reverse this… If you hire an assistant and they are able to take over the $20 to $25 per hour tasks that you have been doing… How much time will that free you up to work towards selling more homes? An hour a day, 3 hours a day? Well, if you are $1,000 an hour person you just gave yourself a raise to up to $3k per day - $15k per week! How can you NOT hire an assistant? Give yourself a raise!!
RULE: When you miss a day or go away, own it! This should be few and far between and it’s ok. Start over after this happens and don’t look back, don’t play catch up and don’t feel guilty. Life happens at times - it is how we handle it that allows us to stay on track and keep moving towards the outcomes we desire. Now, if you find this happening oftenadjust your DRC! Your DRC is the outcome desired to build your business and accomplish more in life both personally and professionally. This is the key that starts the engine to living your best life. If it’s not achievable, it’s not set correctly. Push yourself to do more and keep it within reason. A stretch is great, yet something so far out of reach can and will derail you. If you want to become a long distance runner, you start by training and pushing yourself a little each day building up to where eventually you will become that runner.
Call To Action
: Right now, commit to your DRC… How many calls/doors/actions do you need to make/take? How many appointments do you need to have to secure a client? What time of day will you do this? How much time will you put aside to do this AND what happens if you don’t do this? Who will keep you accountable? AND what is the start date for your new DRC?
I commit to:_______________________ (minutes or hours) to:___________________________(Actions)
Write down the following and if you don’t know… what do you believe to be true?
I need to make ___ calls/emails/texts/door knocks/open houses in order to get an appointment.
I need ____ appointments to earn a client. I need ____ clients to reach my income goal of ________.
I will secure:_______ appointments and ________ client(s).
I will do this at______________ each day and _____________________ will hold me accountable as I will text them after I have accomplished my tasks.
PLUG ALL OF THIS in your calendar right now and identify your Accountability Partner by the end of the day. Call or text them and make sure they are committed to helping you.
Next Level
: Neutral Mindset - Whatever happened has happened. It cannot be changed and it delivered an outcome be it good or bad. What’s critical is that we process what happened, understand it and shift back to Neutral in our minds. Not good, not bad, just Neutral. By doing so, it will allow you clarity and extreme focus (without any of the junk that happened before which can adjust your behaviors, decisions and actions) which will deliver the most positive outcome in the areas in which you can control.
5. WINNING MORE CLIENTS BY LEVERAGING YOUR PERSONAL BRAND WITH BERKSHIRE HATHAWAY HOMESERVICES GLOBAL BRAND (MARKETING)
“TO
BE SUCCESSFUL, YOU HAVE TO HAVE YOUR HEART IN YOUR BUSINESS, AND YOUR BUSINESS IN YOUR HEART.”
-THOMAS
WATSON
This is where your personal branding along with the Power of BHHS (implied trust) work together to elevate you and your business. This solidifies and satisfies clients when they witness all that you can do for them to market their home. It can launch your personal brand – making you larger than life. All Sales Executives started at one time, the differentiator occurs with how quickly they elevated their profession and began building their businesses.
Marketing generates additional business and serves your DRC. It creates an established presence for you as well as keeps you top-of-mind (TOM). It lets people know that you are not only in the business but you are successfully aligned with Warren Buffett’s key principles as a trusted advisor in the business. You are different, you are a professional that is building their business, and you are an entrepreneur who understands the importance of a forever client and relationships that move past the sale.
Our Leadership Team will help you focus in two areas of marketing… Personal Success (business) and Client Pleasing (Maintenance). Both are equally important and have specific journeys to follow to achieve success. We know those journeys which are specifically designed to work with your personality type.
WHY is marketing important? Established professionalism, trust and rapport prior to the first opportunity to get face to face makes you relevant. This is where your personal branding along with the power of BHHS (implied trust) comes into play and elevates your persona. This solidifies and satisfies clients when they witness all that you are going to do for them to market their home. It can launch your personal brand – makes you larger than life. All Sales Execs started at one time, it’s how quickly they elevated their profession and began building their business which was their differentiator.
Marketing generates additional business and serves your DRC. It creates an established presence for you as well as keeps you TOM. It lets people know that you are not only in the business but you are successfully aligned with Warren Buffett’s principles as a trusted advisor. You are different, you are a professional that is building their business, you are an entrepreneur who understands the importance of a forever client.
TYPES of marketing? Personal Success (business) and Client Pleasing (Maintenance) …
For Personal Success - You must first identify your ideal client. What price point do you desire to work in? What neighborhoods do you prefer? What type of personality do you prefer? 16personalities.com is a fantastic resource. Take this test and have those you would like to work with take it as well. It’s quick and painless and works similar to Myers Briggs which gives you an idea of your true personality traits. This will allow you uncover those traits that are most important to you when deciding to work with a client? Make a list of them and get as detailed as possible. This is marketing GOLD for you as it gives you the information necessary to reach those individuals and build rapport faster. When you go fishing, where is the best place to catch fish? The pond where the fish are! If you are looking to work with cash buyers with a high net worth, you will spend time, money and energy advertising in the Robb Report or NetJets as well as joining different Social Media groups that interact with that type of individual. You will attend luxury events hosted and or sponsored by Ferrari or Bentley and you will become a student of the lifestyle they lead. You may even become that person (mirroring) in order to be able to tell your story and share your journey. OR perhaps you pick a different lane and wish to serve the military where the path is completely different. There are many groups you can join as well as market directly to them through similar ways as mentioned above.
How do you market with these mediums… Success stories (Social Proof). Have others tell your stories. Tell the story as to how the client wins by working with you. Different mediums… Social, Digital, Print, etc...
Do what works best for you.
Maintenance (Client Pleasing) - To ensure you are maximizing Marketing Dollars… Stay consistent over time. 12 month minimum and for farms 18 months to 2 years. Strong follow up systems must be put in place. CRM, Sales Funnel must be active and working. What current system are you using and if you have someone as part of your system – are they well trained? Always look at the outcome you desire. In this case you are working towards closed business.
ACTION PLAN – What are the physical actions you are following up with to ensure the plan is being worked? Are you measuring your results in real time? Are you getting the metrics you desire, do you need to make any tweaks?
Call To Action
: Create your IDEAL CLIENT PROFILE. This will help you with your personal success along with the maintenance marketing.
I will complete my Ideal Client Profile on ___________________ _______________________________.
I will complete an automated campaign to reach each level of my SOI on scheduled dates and times using my organized database. This will be completed by _______________________ ______________.
I will choose which 3 mediums of marketing to utilize for the next 12-24 months to build my personal business. They are:_
___________________________________________________________.
I will have ads built, campaigns ready and will launch my advertising campaign on _________________.
Each of the dates listed above are no longer than 7 days out. I will complete my marketing plan and will be active within this time frame. Signed ___________________________________.
Next Level
: Hire an advertising firm or work directly with our internal marketing firm led by Maria Hill. Get your logo built and placed on everything you own. Build your mission statement that encapsulates your core values and beliefs (which helps identify to your clients who you are). Begin building your internal relationships with your teams so they are also clear on what it is you wish to push out to your ideal clients. They will come to you with ideas and a desire to help you. Get crystal clear on this piece and take the necessary actions by engaging with experts that can help you with your marketing. You are in this profession to serve others, make dreams come true and earn an incredible living while doing so. There are others in this business that wish to do the same, however they do this by becoming marketing experts to support YOU!
6. CRITICAL ORGANIZATIONAL AND EFFICIENCY SECRETS TO SAVE YOU TIME AND MONEY (SYSTEMS AND PROCESSES)
“EFFICIENCY IS DOING THINGS RIGHT, EFFECTIVENESS IS DOING THE RIGHT THINGS.”
-PETER DRUCKER
Our organization focuses on two different types of systems and processes - Administrative and Operations. When done correctly, these areas will keep you and your team better organized no matter how many transactions you complete. It will save you time and increase the amount of business you can accomplish. You will establish efficiencies and accelerate your activities so you are able to accomplish more. You will make less mistakes and begin to build habits which take less time, thought and effort.
These systems and processes should be touching everything - just like Amplify’s 12 Steps. What is the plan when you take a listing? Are there specific things you do each time? Are there specific items you take with you each time? Are they readily available? How about an open house? A buyer appointment? If you have not created effective systems and processes, you are losing money and time. Our Leadership Team works with you to create these best practices and consistencies that are scalable and able to be built upon as your business grows. These become foundational elements which will aid in your success.
We are committed to training you on the systems and processes available in our organization (which are quite extensive). With your journey defined, we will help you maximize key components in our technology to support the growth of your business and help to simplify your daily routines.
Leveraging up your business: When I take a listing I do these 7 items… This is the side that helps me grow my business. When I do an open house I do these 3 things which helps me find more clients. There should be a process inside your marketing campaigns, both externally and internally. Matt Mullin (Matt Mullin Group - Las Vegas) is a prime example of this… You will attract more and have the ability to work with more by having a business leveraging processes.
You must be consistent – this will help you Locate and minimize errors and issues. These processes and systems become your habits. Those looking to join your business will have a “playbook” on each of your processes and systems so there is no question. This will afford you the ability to measure and ensure items are working properly.
This is step #6 however, this is foundational and supports training for new TA’s or Assistants etc… This will dramatically reduce the hours of personal time taken by training and chasing down items where you may lack clarity or discovering if those things are actually taking place.
This will be a living breathing operations manual in which you will continue to evolve and build upon.
Call To Action
: Evaluate each step in your business and identify if there is a written process or system in place to help propel each step forward. If there is, great! Is it effective and is everyone involved with your business clear on how to follow this? If not, make sure each step’s process is in writing and in a binder that becomes a living procedures manual in which you have hard copy and digital copy. Here are just a few items that should live in this manual…
Buyer’s System - All the Documents / Processes / Technology / Questions to ask / from start to finish
Listing System - All the Documents / Processes / Technology / Questions to ask / from start to finish
Lead Generation - Various sources / SOI / Technology / DRC Process / Leveraging Up / etc.
Marketing - Processes & Ways / SOI / Social / Technology / Out of State / etc.
Risk Management Best Practices
Administration - How to Hire an Assistant Process / Hire a TA / COH / Financials / Taxes / Roles and Responsibilities of TA & Assistant / TC Role and Duties / etc.
Begin to build a sheet (or multiple sheets) explaining the process or opportunity of each. Bind these in a 3 ring binder or equivalent as this manual will evolve as you discover new or different processes / opportunities along the way.
Next Level
: Task our marketing firm or an outside marketing firm to format, apply logos, your vision, COH and all documents you use to make this congruent. This is your operations manual and a living, breathing guide to how to run your business at scalable levels. Bind it and assign one to everyone on your team along with an NDA as this is proprietary to your business. If they ever leave, they return their copy to you.
7. KEY SUCCESS TIPS TO SHARE WITH YOUR TEAM ASSOCIATES FOR UNSTOPPABLE GROWTH (ADMIN SUPPORT)
“PLAY
BY THE RULES, BUT BE FEROCIOUS.”
-PHIL KNIGHT
Why don’t people hire support? They don’t believe they can afford it. If you don’t have your business foundation built along with a DRC, perhaps you can’t afford it. If you have successfully completed the first 6 steps in the AMPLIFY system then you are taking the actions necessary to build a successful business and you will find that you absolutely can afford it!
Administrative Support will allow you to work at your highest and best use. We will help you eliminate the duties and tasks which do not support your DRC and perhaps are hindering your income. The key is to stop doing things you shouldn’t be doing and start doing those things you should be doing. This step alone will ultimately allow you to earn more income. What is your hourly rate? What would you like it to be? How about giving yourself a raise by eliminating things you don’t like to do?
Along with our Leadership Team acting as your silent partner - we also have company provided support for you. We pride ourselves on being a true business services company. We have a full service, world class marketing firm that is part of our company and works diligently to help our Sales Executives grow their companies. Our Education and Training departments do the same, not to mention everything that’s available from Berkshire Hathaway HomeServices.
If you have completed your DRC and are taking the actions daily to achieve it, YOU CAN AFFORD IT!
Lean from your processes and systems (which we discussed in #6 to help you train, hire and interview.) Follow your process…
Leadership and management importance – you are leading already by example if you actively employing all the steps that lead you here. You have a process that you use to drive business – share it, help them and fine tune it together with their strengths… Don’t recreate the wheel, just tweak it. AND… copy those that are already successful and are doing it better than you. There is nothing new out there, just better ways of doing what is already being done. Nobody owns any certain way of doing things. We are in a society that has mastered R&D (“rip off and duplicate”).
Example… Tony Robbins did not create the foundation for his content. He learned from his mentor Jim Rohn amongst others… Has he made Jim’s content better? I believe so as Tony has an amazing gift for storytelling and delivering information that is transformational. He has taken those foundational pieces and made many - his own. YOU TOO can do the same. If you want to make the perfect Beef Wellington, you are not going to attempt to do so by yourself. You are going to look to the experts that have done and continue to do this and actually made a living doing this. Gordon Ramsay is known for his Beef Wellington all over the world. Wouldn’t it make sense to find his recipe, youtube video and go and taste his version so it can be replicated?
Call To Action
: Are you working at your desired hourly rate? Write down all the tasks that you perform that can be performed by an hourly employee or virtual assistant? When complete, write up the amount of hours each week it will take someone to complete those tasks? How much per month? How many more transactions can you complete each month by having someone take over those tasks? How much is that to your bottom line? (We touched on this briefly in the DRC)
How many hours are you working at your desired hourly rat?
How many hours will it take an assistant to perform the tasks that you should NOT be doing?_______.
Set a date as to when you will have this person in place______________________________________.
Date you will have their job description built and ready______________________________________.
Ad written to find this person will be ready by_______________
Or Introduction to Michael Herman (Corporate Recruiter) needed by___________________________.
Each day that goes by is money lost. How much is it costing you to not have this person or these people in place?
Next Level
: Train your VA / hourly employee to be the keeper of your Operations Manual. They will make the necessary updates and changes as directed by you. Also, train them to handle scheduling of your personal time as well as your family’s personal time. One less thing you need to think about while balancing work and pleasure.
8. SKILL SET TRAINING GUARANTEED TO CLOSE MORE CONTRACTS EVERY YEAR (SKILL SET ENHANCEMENTS)
“FAILING
TO PREPARE IS PREPARING TO FAIL.”
-JOHN WOODEN
Ongoing training and practice is key. Think of an athlete –they practice, train and study anywhere from 6 to 8 hours per day and often 6 days per week. They do this knowing that they will compete only a few times per year. Why do they put in so much effort? This is the level necessary to compete at the highest level in their career. Mastery takes preparation, dedication, discipline and intention. Not to mention time… Most will get “good” at a particular event be it a listing presentation, working with buyers or holding open houses and then they stop. It’s good enough in their minds. How often do you practice or enhance your listing presentation? How would your business change if you spent just 60 to 90 minutes, five days per week on enhancing your skills? It would be game changing for you both mentally and financially! We know this because we have been a part of and witnessed this!
Markets change, behaviors change, scenarios change, goals change and life changes. Are you prepared and skilled in the areas that affect you? We work together with you to ensure your business is forward pacing and monitoring trends that could cause changes in your business. Once identified, we pivot and shift. Since you will be prepared for these types of changes, we are able to help you react quickly.
Our organization is dedicated to continuous improvement both personally and professionally. That is the core of our organization as a Business Services Company.
Inner Core - Education, Training, Maria Hill’s Marketing Firm, Rick Berube’s Success Series and Coaching, our network professionals like Jimmy Burgess, Chris Kelly and so many others.
Outer Core - Tom Ferry, Mike Ferry, Brian Buffini, Larry Kendall and others
Begin with the 3 P’s = Preparation – Practice – Presentation
This is never ending…
1. Currently we are dealing with market changing conditions. Change is the law of life, those that are not present with this, are certain to miss the future. ~John F. Kennedy
2. Excuses are from you and inside you… Control the areas in which you can control. If you can’t control it, you can’t worry about it.
3. If you have enhanced your communication skills, you will have the ability to retain confidence while working with buyers, sellers and other agents.
4. Forward Pacing – looking ahead and knowing what could happen. Communicating this effectively with your clients so they feel and believe that you are in control of their transaction. Your clients are not looking beyond selling their home so they can buy the next. This is the bubble they live in and while we must respect this, we must also have the skill set to help them understand the various factors, changes taking place in the market and unforeseen variables that live in and around these transactions.
5. “if you are not growing you’re shrinking.” I have heard
Gino say this numerous times… “once you think you have got it all figured out… you have begun your slide to mediocrity.” View your skills as a fresh, newly formed pond in the spring… In the beginning the waters are clear and clean with a nice sparkle from the sunshine reflecting off of it. If it stays stagnant, it collects algae, mosquitos and other bugs while it begins to develop an unpleasant smell. If it moves and fresh water flows in and out, it continually refreshes itself while carving a path forward. Not so different from your business.
6. Know who you are… this gets back to the original foundation and it’s important to know which strengths you should focus on and enhance. This keeps you relevant in your business – this separates you from the rest. It also gives you the right to mentor others as you have more to give and enjoy bringing those along with you.
Call To Action
: What skills are you working on today? What skills do you practice regularly to create habits? Make a list of skills that you are great at and a list that you are not as good at. Create time weekly and commit to practicing each of these skills. Perhaps you start with prospecting or farming (door knocking) and put a number out there that you WILL REACH weekly. OR perhaps you are growing your team and realize that you have never had any formal training on leadership and it begins by reading or studying leadership and key actions that you put into play each week. This call to action is yours and I will leave it up to you other than pick 3 things you feel you need to do in order to enhance your skill set. As your silent partner, we are here to help you each step of the way.
I commit to working on these items Daily / Weekly / Monthly:
I will start on________________________________ at ___________ and do this daily / weekly / monthly for ________________ months or until I have reached a level I feel great about.
Next Level
: Hire a coach and allow yourself to be held accountable. There is coaching available to you through Berkshire Hathaway HomeServices or our very own Rick Berube (at no charge to you). Your Branch Leaders are each highly skilled in coaching and available to help bring you through any barriers you may be experiencing. (Take advantage of this as they are invested in your success). If you rather look outside the organization, we have many options for you to choose from or you can simply reach out to one you may like or have heard of before. I recommend interviewing two to three coaches before hiring one. You will find there are very different behaviors with each as there are multiple levels of training and styles as one size typically does not fit all.
9. LEARN KEY METRICS, A FEW URGENTLY IMPORTANT NUMBERS AND WHAT THEY MEAN TO YOUR BUSINESS SUCCESS (UNDERSTANDING YOUR NUMBERS)
“CONFORMITY IS THE JAILER OF FREEDOM AND THE ENEMY OF GROWTH.”
-JOHN F. KENNEDY
WHY? Knowing your numbers provides you clarity on your outcome. How can you know if you are moving in the right direction with your income, units closed, leads etc.? This rolls back to your DRC as your BENCHMARK
You can perform a better listing and buyer presentation. List price vs. sales price IMPORTANT
When running your organization as an individual or team you will now be clear as to how you / your team is operating in your business. You will have the ability to break down the numbers by individual (if a team) and see how each individual is performing against your forecasted business. You can help them understand as well which will allow you (and them) continued growth.
Whether you are running your business as an individual agent or team, you will now be able to monitor the success of additional agents (based on their KPI’s). Are they successful in your model? Do they need additional assistance in lead generation and perhaps prospecting activities? It starts by reviewing your business financials to see if a deeper dive is necessary.
Knowing your numbers will help bring forward your weaknesses – activities that may not be suited for what you are doing (possibly an assistant’s job). Areas that need to be adjusted. Number of contacts it takes to get appointments. How many do you need? How many appointments do you have to go on to get how many listings? What is your average sales price? How many people do you need to engage with to get to a transaction? List price vs. listing sold price – great stat to know and share. (This runs parallel to your DRC).
Numbers need to make sense and we will review your numbers with you. We will teach you how to read and evaluate your business financials. You must be clear to truly understand how to use them to drive your business. Take the time to get engaged and track them for 12 to 18 months to truly get a feel of how your business is operating. Make Tweaks along the way. Knowledge is power and the more you know the better your focus will be.
A truly successful entrepreneur has a strong understanding as to how their business operates. They can read financial statements, have conversations around those statements and make the necessary adjustments to run a profitable business. This practice provides clarity on your desired outcome - part of forward pacing your business. This also ties in closely with your DRC giving you the knowledge to make informed decisions on your activities.
We have various forms we use AND our Leadership Team will work with you as to how each of those forms work and can help to drive different activities in your business.
Call To Action
: Learn how to read business financials (Income Statements and Balance Sheets). Next, purchase a financial program (Quickbooks) or other program to begin running your business. Remember, you are building an actual business, a sellable asset. You are much more than a real estate sales professional, you are a Business Owner and Sales Executive.
I will open a business account (if I don’t have one already) on this date __________________________.
I will either purchase the software necessary to run my business on this date ______________________ AND I will become familiar with all reports that pertain to my business. I will begin to watch for trends and understand how to make the necessary adjustments to continue growing my business.
Next Level
: I will hire an accountant and begin working with them as to how to understand business financials. This will include becoming familiar with Income Statements (Profit and Loss), and Balance Sheets in order to have a strong understanding of my numbers and ultimately my business. I will review my financials bi-monthly so I can ensure I am on track with my DRC and Goals.
An income statement is a financial statement that shows you the company’s income and expenditures. It also shows whether a company is making profit or loss for a given period. The income statement, along with the balance sheet and cash flow statement, helps you understand the financial health of your business.
Todd Knight - CFO
10. THE RECIPE ON HOW TO CREATE YOUR PERFECT DAY
“THERE IS NO SINGLE RECIPE FOR SUCCESS, BUT THERE IS ONE ESSENTIAL INGREDIENT… PASSION!”
-MARTHA STEWART
Decisions are the one thing you can control and because of that it’s critical that you are making the best decisions. Do you feel as if you continually make the best decisions? What are they based on? How do you know if you are making the best decisions?
There are 3 things that people want in life. The order in which they want them is dependent upon many factors…
1. More Time
2. More Money
3. Better Relationships (more clients / friends / spouse)
Those three things lead to experiences which can lead to positive or negative outcomes. To ensure you are enjoying what you are doing each day and creating excitement and fun in your day, you must have a plan. So, how do you create your perfect day? It starts with Clarity… What does this look like for you? Where do you wish to see your life going and what inspires you? There is a lot here to unpack and as part of growing your business you will want to understand exactly what it is you want and why. Without this, there is a tendency to continually rethink what you are doing daily - specifically when times get tougher.
Your business is (in large part) your life. How often do you think about your business when you are away from it? See what I mean? Without blending the two harmoniously, there will be turmoil and you will face larger obstacles due to lack of clarity and drive.
How do you create your perfect day? It starts with Clarity… What does this look like for you? How do you want to see your life going and what do you want to do that inspires you?
There is a lot here…
Start by carving time out to sit and reflect. Go Deep – you have already created your core values, your beliefs and what you want to be known for. (Much of this you did in steps #1 and #2.) There is no time limit as to how long it may take you to discover this and this may change along your journey. Now that you have reached this step in your business and life, go back through your WHY and Your Values and Beliefs to ensure they have not changed. This will be the foundation to your daily routine and Your Perfect Day now that you have reached this level in your business.
Your business is your life – they are one in the same. Now there are many facets in your life however I say this as each reflects positively or negatively on the other. Your business allows you to do or not to do certain things. Remember, you are building a brokerage business as a single agent or team. If treated correctly, you are well on your way to building a sellable asset, be it of one or 100 members.
Example… Part of your perfect day may be getting more time in your life while earning more income. Tough go for some as typically one does not follow the other. Now, I did say typically and not that this would be impossible. It just may require additional assistance and an extended level of discipline.
You have decided that your perfect day consists of spending more time with family, outside of work AND increasing your income. You have decided to move forward with this and you need some help so you can focus on income generating tasks. You move towards bringing on an assistant and are working to understand how much this assistant cost your company? (Go back to Admin Support and DRC). What do you need to adjust inside of your DRC to make this a reality OR do you need to adjust anything inside your DRC as perhaps you were a bit aggressive and this will allow you to move closer to accomplishing your DRC? What tasks should you NOT be doing that are costing you significant revenue? Once you commit to the activities necessary to give you the means to hire this assistant – it’s no longer a difficult decision. It’s what happens. No more limiting beliefs…
Your perfect day is personal and unique to you. It is your own personal GPS to your life. The more granular you get with a destination to be set - the more clear you are in your business and personal life. You just need to set the GPS and be ok with recalibrating from time to time. Determine your Outcome and back into the activities necessary to get you there.
When you do this correctly, your career becomes inspiring, invigorating and in alignment with the rest of your life. This will allow you better relationships, more time and more income. Your mindset will adjust to a new and more productive way of thinking as you have aligned your values, goals, and actions to living a customized life that is unique to you.
Call To Action
: Going back to the beginning of this program… “What do I want?” Structure your perfect day.
1. Build your Daily Schedule (this may change from time to time however you will have a core foundation in place)
2. Time Block your Day and STICK TO IT! (If it’s important, it becomes a priority. Other people’s problems must be categorized before being acted upon.)
3. Your DRC is the foundation of your day and what makes it your Perfect Day.
4. Your Perfect day will change and evolve over timewhich is fine. Make the changes and stick to it
5. There will be multiple layers in your perfect day
a. Prospecting / marketing
b. SOI maintenance
c. Showing and Listing
d. Lunch
e. Health - Exercise and Diet
f. Personal - Family and Balance
g. YOU time
Next Level
: Your time is more valuable than any precious metal or gem, any luxury car or property that may seem untouchable. You earn the money to buy items… No matter how much you earn, you can never earn enough to acquire more time. What you can do is earn enough to allow you freedoms and life’s various pleasures which is different from extending your expiration date. Be cognizant of this in everything you do and each decision you make. Treat every minute accordingly.
11. LEARN HOW YOUR FINANCIAL FREEDOM IS CLOSER THAN YOU THINK (BUILDING PERSONAL SAVINGS AND WEALTH)
“STRENGTH
AND
GROWTH COME ONLY THROUGH CONTINUOUS EFFORT AND STRUGGLES.”
-NAPOLEON HILL
What is your hourly rate? Is it in alignment with your worth? Does it allow you to invest in areas outside of your business? Are you able to build passive income outside of your real estate business?
Our organization focuses on Revenue Driving Practices and we do this by helping you construct a plan that is customized for you. There are key milestones we will help you reach that will allow you to diversify. You will build a budget and begin building your wealth through multiple channels in which we will help guide you. Those that have done this in our organization continue to build and have taken a proactive approach to building their business, their wealth and planning for the later stages in their life. This is who we are as an organization and leadership team.
7 tips from Mark Stark - Use what works for you…
1. Revenue driving Focus - Start with your customized plan to drive revenue which ties into your DRC. Have a revenue budget - daily, weekly, monthly, quarterly. What is your hourly rate? Where do the funds go? Build your revenue goals.
2. Get clarity on exactly what you want to accomplish and WHY you want to do this (back to the beginning of the
12 steps). Be specific and put a picture to this. Feel what it’s like to accomplish this. This will set your risk threshold and you will be comfortable with this.
3. Eliminate ALL debt. You cannot protect your wealth if you are paying interest on credit cards.
4. Budget your savings… Treat this as a bill each month. Be cautious on what you are spending on as it relates to your goals. By doing this, you will force yourself to be disciplined and focused on what you ultimately wish to accomplish. This is your long term play. Enjoy your life and do what you wish with the reserves - just stay true to your savings.
a. If you buy a luxury item - make sure it is a 1x purchase. Buy it and be done.
5. Follow the four in 1 rule when investing in residential property. For every 4 homes you own, 1 has to be free and clear. This will help protect you from being spread too thin.
6. Cash flow over Asset - This will also keep your focus on cash flow. Pick one, pay it off and then pick the next one. Incredible amount of power in paying off your assets. (Pay off your home as a lump sum - If you pay it off along the way, your current payment stays the same so the risk is still there. Create a separate savings account and only place money into that account that will be used to pay off the home.) This now becomes a savings account for you and you have access to cash now.
7. Any money invested in Stocks is there for the long haul. Never need this money, this is a revenue generating action that may take longer to generate. It is untouchable and the final thing that I look at when investing in anything else. Make sure you only touch this if the market is doing well.
Call To Action
: Decide the following…
Your Hourly Rate $_______________________ Which equates to $_____________ Daily and $_______________Weekly which is $________________Monthly and $_______________Annualy
I will have all debt paid off by:________________________. (This does not include my Primary Residence)
I will save $____________________ each month and have acquired $_______________ additional in savings by the ________________________.
I will acquire ____________________ properties by ____________________ in which 3 out of every 4 will be paid for prior to purchasing more.
I will only invest in stocks with money I don’t need anytime soon (next 5 years) and I understand that I could lose this money at any time.
Signature_______________________________________________
Next Level
: If you want more time in your life, hire an advisor/mentor to work with you on your investments. You are clear on your business strategy, finances and why you are doing what you are doing. You have hired people on your team as well as support staff allowing you to focus on your business. Hire an expert and work closely with them to make CEO level decisions for your business and personal wealth strategies.
12. CREATING PASSIVE INCOME BY HANDING OFF YOUR FIRM FOR TOP DOLLAR - EXIT STRATEGY
“THE GREATEST THING IN THIS WORLD IS NOT SO MUCH WHERE WE STAND AS IN WHAT DIRECTION WE ARE MOVING.”
-JOHANN WOLFGANG VON GOETHE
Many believe that you never retire from real estate, you just wind down. This is simply not the case with our firm. We are dedicated to helping you grow a saleable asset that can be executed when the time is right. To do this correctly, you must begin with this outcome in mind.
When is the best time to sell your business? When YOU want to! To do this, there is a process from creation, building, nurturing, and positioning for sale. Most times, you will not have to look far to find a buyer… we have them in our organization and these types of transactions take place annually. We will work with you to find the right buyer, help to locate financing options if necessary, create your plan to sell part or all of your company OR help you with a plan to have someone take over your business and move you into a silent role. We will help you with the path that is best for you when the time is right. With an organization as large as ours (16th largest brokerage in the world), we have numerous connections and opportunities available.
Perhaps, you are in the market to buy a business? If that’s the case, we can introduce you to a few opportunities (once you qualify of course). There is a system and process to buying or selling a business and our Leadership Team would be thrilled to help you.
1. Mindset is #1 - do you truly believe you are running and have built a business? I mean truly believe? If not, what do you feel still needs to be accomplished for you to have a business.
2. Misnomer - “I will build an exit strategy when I get closer” - No, you need to start today and have everything inline when you are ready. You have to begin with understanding of Cash Flow and Asset Value
a. Cash Flow - Daily Revenue
b. Asset Value - What is your business value
i. When you sell your business, it makes sense to be done with your business and move to the next chapter. Keeping the business and not working the business other than sending referrals will ultimately drive the business down and eventually out.
3. Financials and Results - Systems and ProcessesDatabase - Diversity of Revenue Streams - Business Size - Structure - Age of the Business. Any other unique aspects that you do better than someone else or that you are doing and they are not doing.
4. 1.5x - 3x multiple of true profitability - Clean financials are critical.
5. Finding the right buyer - Servant Leader, consider your team and culture - look for a similar client service mentality so your clients see and feel that they are in great hands.
6. Time of Sale - Once a contract is in place, due diligence is performed and you are ready… I would recommend you take 12 to 18 months and showcase the new owner
as your “partner.” Introduce them to everyone as your partner and work to solidify the relationships so it is seamless. This is better for your clients, your business and you!
Your goal is to have a profitable, well run business in place when ready to make the exit. Get in front of this to eliminate hurdles in place when you feel it’s time. This allows this event to happen when you want it to happen and NOT when you have to have it happen. Take your time, work through the business and financials and then we will assist you in setting this in motion over a matter of a year / year and half.
Next Level
: By starting to build your business today and working through these 12 steps, there will be little to no preparation necessary when you are ready to sell other than finding the right buyer and a valuation. You are laying the groundwork and preparing your business by simply building your business which makes you an owner of a true business! We will help you each step of the way as we build your business together!
12.5. BONUS - LIVING YOUR BEST LIFE
“IT’S VERY EASY TO BE DIFFERENT BUT VERY DIFFICULT TO BE BETTER.”
-JONATHAN IVE
If you have reached this part in your journey, you have created your own business, weathered many storms, celebrated many wins, have a loyal client base, marketing and investing strategies and have a well-run organization. This did not happen by chance, it happened because you took the time, were intentional with each step, took massive action and built something of value. You created a business where most create a job. You Amplified Your Success and created an asset.
You have processes and systems in place and you have chosen to work ON your firm more than IN your firm. You have created a space where you can make different decisions that allow you the ability to live a different life than you were living before. It’s at this stage in which you are wishing you did this years earlier. STOP - Don’t wish that, live in today and be thankful that you have figured out how to truly live the life you wish to live. Congratulations on Amplifying your business, income, time, relationships and LIFE! We are so proud of you and thank you for allowing us to be a part of your journey!
- TROY REIERSON CEO BERKSHIRE HATHAWAY HOMESERVICES NEVADA, ARIZONA AND CALIFORNIA PROPERTIES
