The way you think about making money is reflected in the business model you choose for yourself.
How do you see your ideal real estate business? Is staying in production a good idea?
What is the difference between the mindsets of a top agent vs. a business owner?
In this episode, I talk about the E-myth and how it impacts your business.
Four Things You'll Learn
- There are several types of business models, but only one of them leads to financial freedom and true entrepreneurship.
- The technician type of agent is the one who’s constantly concerned with production. Their main source of income is their own production. The more homes they sell, the higher their income. Unfortunately, this model has a ceiling because there’s only so much a single person can do.
- The manager is focused on developing systems and getting work done with the help of others. This type of agent is usually a team leader.
- The entrepreneur is a visionary and strategist. Not only does he or she leverage systems and people, but they’re also concerned about the future and building equity.
The franchise prototype is the kind of business where its growth and stability doesn’t depend on you. This model is based on systems that can be replicated over and over again and still produce money. If you want to have more time for yourself and your family while increasing your income, you must distance yourself from doing the technical work and put into place systems and people that you leverage.