Today I want to spend some time on the process you have to go through to separate yourself from the business. The separation of you from the business is crucial - you have to think about your business like you're going to replicate it 10,000x. That means if you're still showing homes, you're now showing 10,000 homes. Nobody can manage that - which is why you have to build your dependence on systems, which scale WITH the business.
When I heard that question - the 'E-Myth' question - It stuck with me for a long time. Anything I thought the clients liked me to do, I would create a system for it. I quickly realized that even though I loved showing homes, I could get back a lot of my time by offloading that to an agent to show my homes for $20/hour.
I had a different way of looking at every part of the business. Every facet of my business had the same approach, though - how can i simplify this and create a system around it?
Where do you spend your time in your business? If you're a solo agent, the process of bringing on an administrator is one of the best steps you can take. There is so much administrative work that they can do for us that doesn't make sense for you to do because you aren't making money doing those things. A corporation would never let a $100/hour person do the jobs of a $20/hour person, and I brought that philosophy into my business.
It's a good exercise to write down all the things you do in a 2 week period to see where your time is going. Be honest with yourself - as an agent, even if you're a single person or a small team, you're basically the entire business. Break down and itemize where your time goes, and what you could take off your plate.
One concept that we cover in the business freedom planner is passion vs. pay. There are things you have to do in business that you love, and things you have to do that you don't love. High passion, High pay - Low passion, High pay - High passion, low pay - Low passion, low pay.
What are the things you love doing that pay really well? The things that you don't love that pay you really well?
As a business owner, your time is valuable. If you wouldn't pay someone to do it for you for what you make in an hour, it might be a good idea to delegate that time to someone at a lower level.