My professional purpose is to help you, the broker, optimize your productivity and help you become the best version of yourself. Why? Because happy brokers sell more real estate. I do that by helping you handle challenges and opportunities that you face every day. If you can effectively manage certain situations that arise on a daily basis and in your business, you'll be more productive and live a life that is the best version of you. I promise not to tell you what to do, but rather give you ideas that you can choose from to implement for yourself.
Today, as part of my "Championships are Won in the 4th Quarter" series, I want to invite you to look at your goal setting strategy in a different way.
I love the fall months, way more than even the height of summer. Over the last decade, for me, Q4 has been a time of reflection and personal and professional growth. For those of you in the sales trenches, the fall market most years is less active as a larger percentage of consumers shift their focus to other parts of their life leaving just the most serious buyers and sellers left to meet their real estate goals by the end of the calendar year. An ELP (Elite Level Producer) feels this shift, accepts it, plans for it and will start to move their focus to wrapping up the current year as strongly as possible. They also know that the planning and preparation they do in Q4 will have them racing out of the gates when the calendar strikes January.
Hence why I came up with the term, "Championships are Won in the 4th Quarter.” A phrase born out of my love for college football married with my passion for the fall months. These MMPT's are love letters to you born out of the growth that I've experienced and am experiencing personally. An area of growth that 2021 has seared into my consciousness in how to best envision my success in advance and create the best plan to best manifest that vision. Enter, "The 12 Week Year" by Brian Moran. Taking a 3-year vision and breaking it down into 12 quarters makes ridiculous sense to me. It validated a lot of how I executed previously so I bought the book's concepts hook, line and sinker. In last week's call I laid out the main difference for me and that has been moving away from annual goals shifting to quarterly goals, giving me 4 deadlines a year instead of 1. I realize that our industry, and most industries for that matter, recognize one's performance based on annual metrics. We do. Our Leaderboards and Annual Sales Awards are based on a full year's production. Using this goal setting and execution strategy will actually help you show up better in those annual rankings.
So, as you sit here in the first full week of Q4 2021, do you have your initiatives outlined for the next 12 weeks? Let me give you some additional insight to my goal setting strategy that I have been implementing personally. I want to introduce you to "Leading vs Lagging" indicators. "Lagging Indicators" are the end result of your effort. "Leading Indicators" are the activities that you do impact the final result. As brokers, almost all of you focus on production and GCI goals. Previously, your annual goal statement might go something like this:
"By the end of 2022, I want to produce $25,000,000 in production with an average sales price of $1,000,000."
You need to ask yourself: Why is $25,000,000 with an average sales price of $1,000,000 important to you? What does that level of production do for you, your business and your family? Find the reason internally why $25M in production is important and build that into your "3 Year Vision". A 3YV should your long-range goal that is really powerful to you. It should be vivid. You should be able to feel it. It should be personal to you and only shared with those close to you. When you have this 3YV, it will literally be the fuel that drives you every day.
So please, join me and stop worrying about external factors and move your goals to areas that live in your DNA. If you make this switch, you will finally find the gear needed to get up every morning and execute with enthusiasm. But how? Enter the "Leading Indicator" model. You ask yourself each quarter for 12 quarters. "What do I need to do this quarter in order to meet my 3-year vision?" (Not what my manager thinks, not what the industry thinks, not what my competition is doing.)
Here are some ideas that you could use as Q4 goals that are consistent as being "Leading Indicators":
"In Q4 2021, I will reconnect with 50 of my Top 100 in a meaningful way." (strategic gifting)
"In Q4 2021, I will rebuild my database giving me a better grip on my past clients and active pipeline."
"In Q4 2021, I will implement a crisper listing presentation strategy that will help me to convert at a higher level"
"In Q4 2021, I will add an assistant to assist me with my growing business and prepare for projected growth in 2022"
"In Q4 2021, I will finally complete the decluttering process in my office and home deleting the negative, stagnant energy in my environment"
"In Q4 2021, I will teach myself how to better use social media to attract people into my business"
"In Q4 2021, I will implement a workout routine and diet to ensure that I feel better, look better and have more energy"
"In Q4 2021, I will finally commit to a morning ritual so I can play my days on offense not defense."
"In Q4 2021, I will re-evaluate my boundaries and insert them in preparation for 2022 market."
Now, imagine what your life and business would look like if every quarter over a 3-year period, you met major quarterly goals like these and maintained them as a matter of course by executing daily. Will your business produce at a higher level and creating better systems, processes, routines, habits and support? Of course it would. It's almost mathematically impossible for it to not produce at a higher level. In turn, the industry "scoreboard" (production/GCI) will have you recognized at a much higher level.
For example, in 2012, my goal for the year (back when I was doing annual goals) I inadvertently set a "leading indicator" goal of increasing my Top 150 from 97 to 125 people that knew me, liked me, and trusted me as their real estate broker. I didn't focus on production and I doubled my production from the previous year. I knew down deep what was driving my business so I just put the focus on it.
So in review: The "Lagging Indicator" in your goal setting process will be your "3 Year Vision" that you move towards each quarter for 12 quarters. (The harvest)
Your "Leading Indicators" will be all of the quarterly initiatives, executed on a daily basis, that will move you towards your 3YV. (Planting of seeds)
Personally my, 3 Year Vision cycle starts January 1 of 2022. It is my best estimate that I will get done in 3 years with this strategy what would have taken me 5-7 years focused on annual goals. With that, I am taking this quarter to eliminate or finish projects that have not been completed. I've got a personal and professional "punch list" that I will knock out one by one this quarter. I don't want the negative, stagnant energy moving into my 3YV cycle.
Who wants to join me by starting their "3 Year Vision cycle" this January? If so, let's make Q4 2021 count.
Have a happy and productive week. I'm here if you need me.
