My professional purpose is to help you, the broker, maximize your production and help you become the best version of yourself. Why? Because happy brokers sell more real estate. I do that by helping you solve problems that you face every day. If you can effectively solve these problems, you'll be more productive and in turn you'll be happier in your business and in life.
Today, the problem I want to help you solve is to show you how to embrace the concept that your success is based on how you "execute the math". If you "control the math", you control your level of success.
This week we will be the ending the 2nd quarter of 2021. During the bulk of my MMPTs this quarter I have introduced to you the concept of the "Ultimate Productivity Hack", later validated by the book, "The 12 Week Year" written by Brian Moran. This concept truly is the holy grail of high performance and fully stress tested by me as I tackled my health and wellness lifestyle. I hit my goal using this concept over the last 4 months. A lifestyle goal I had chased unsuccessfully for most of my adult life.
As we power down this week for the holiday, I challenge you to finalize which quarterly goal you are going to tackle in Q3. You can create a professional goal, a personal goal or one of each. You just have to be fully committed to executing it/them each day. So, on today's call, I want to give you ideas on areas where I've seen brokers make a huge impact on their business and quickly. You'll notice that most actionable goals involve "numbers". If you look at most goals you've created, a number is most likely somewhere in the description. Goals with numbers are quantifiable and easy to track so that's why we tend towards production goals because they are "real", you can see them on paper and everyone in the industry discusses them and understands them. As your production numbers grow, you gain credibility and legitimacy so increased production drives you. In setting your 12-week goals, you want to understand the difference between "lagging indicators" like quarterly production or GCI and "leading indicators", the actions you can take every day to impact the "lagging indicators". Each quarterly goal must have both the goal and the action steps.
So here are some "numbers" to consider in building your Q3 goal, that if executed on consistently, can make a huge impact on your business. Some of these suggestions will surprise you:
(5) - You are the average of the 5 people you spend the most time with.
(3) - “3 Rocks of Marketing”. Understand the 3 forms of lead generation that have produced the majority of your business and focus on becoming even more expert in those areas.
(3) - 1 transaction should equal 3.
(20) - 20 is the number of referrals a database of 100 contacts will deliver each year (if managed properly).
(20) - 20% of your clients will be responsible for 80% of your revenue. - The Pareto Rule is alive and well in your business.
(6) - Marketing to your past clients is 6x more profitable than trying to obtain a new client. I've heard the number be as high as 18x.
(100) - 100 people is the maximum amount of people that you can effectively manage.
(2,600) - The average number of hours a highly dedicated, productive broker works in a year. Take your gross profit and divide by 2600 and that is your "commission rate per hour". Manage to that number.
(1) - 1 extra hour per day dedicated to a Morning Ritual, gives you 6 weeks of extra productive time per year. Those hours will be your most productive hours in your year.
(30) - Spending 30 minutes a day thinking. Spend 30 minutes a day planning. Spend 30 minutes a day breaking a sweat.
(3) - Only about 3% of brokers fully embrace systems, processes, rituals in their business. They produce 65% of the real estate transactions each year.
(90) – According to Zillow and NAR in their latest surveys, more than 90% of agents fail to contact their clients after a closing.
(1) "1 Big Thing" - focus on 1 area consistently for 90 days and you will accomplish in 90 days what you thought was not possible.
Focus on the 12 x 12 = 3 planning method. 12 weeks in a quarter x. 12 quarters = 3 years. Ditch "annualized" thinking.
Team, this is just a smattering of numbers that should get you thinking about some areas in your life and business that need focus. Take this week, take next week to gain the energy back needed to tackle Q3. Most of you have been working non-stop for a year so plan to come out the week of July 12th on a mission. Find a number that motivates you and manage to it and track it. Chasing the big, sexy ideas and hoping for lightning in a bottle never works. Take one (maybe two) simple concept, develop actions that support it and execute on it every day and you will win the quarter. The goal is to stack as many successful quarters on top of each and to prove that you can get more done in 12 weeks than you can in 12 months.
