Today on the podcast, as we wrap up the series about goals, we want to talk about how to break down your goals into the key business drivers.
Whatever the mind of man can conceive and believe, it can achieve. - Napolean Hill
(for a deeper dive on this, check out this masterclass)
The 4 Key Business Drivers
The traditional model - Attract, Convert, Deliver, is necessary for any business to work.
- You have to attract high quality buyers and sellers
- Convert them to buyer and seller clients
- Deliver them an experience that will leave them satisfied
If you can’t attract new clients, you won’t have opportunity. If you don’t convert leads, you won’t have clients, and if you don’t deliver, you won’t have any money.
The big problem with most team leaders in business is that they are trying to do it all at once- they’re attracting, trying to convert, all the while being expected to deliver an excellent service. This takes what would be a virtuous cycle, and makes it a vicious cycle, where they are a slave to the business.
The Real Estate B-School model has an additional driver, Scale, which we will get back to in a bit. First, let's talk about each of the traditional drivers and their accelerators.
- Database marketing
- Listing marketing
- Buyer marketing
- Lead Management
- Appointment setting
- Consultation process
- Client servicing
- Transaction management
- Critical tech tools
Now that we have a foundation with these 3 “traditional” drivers and their accelerators, we look to scale our own business, which will allow it to grow independently of us. The first accelerator in the Scale driver is to create your future. You must know your end game before you even start, so you will have a way to measure progress!
The second accelerator is to know your numbers. If you don’t know your numbers, you won’t be able to grow predictably or have a good idea or outlook of where you are. Knowing your numbers is a must for any team leader - you wouldn’t go to the mall without knowing how much money you had in the bank, would you? How would you run a business without knowing your numbers?
Finally, the third accelerator is to grow your team. Your team is the organism - the living, breathing vessel - that you are building to take your business to the next level and achieve the goals you set. Growing your team provides you sustainability, and reliability that you can use to step out and gain time and money freedom.