Every business owner MUST build a business that does THESE 2 things well:
If you are a sole proprietor, YOU are responsible for doing these 2 things well enough to create the income necessary to stay in business.
The secret to success is to engage appropriate LEVERAGE to create an environment rich with a steady flow of leads and to orchestrate just the right intentional attention to these leads such that they “convert” . . . that is – COMMIT to working with you.
This is a courtship which should not be taken lightly.
The enigma for most business owners is the HOW?
Sure, all the business coaches and gurus say everything I have said above and make gajillions of dollars selling systems and programs and platforms “guaranteed to work”, yet most folks who buy these programs fail to realize much, if any, verifiable positive results. They become jaded and stomp off to their respective “safe places” of average or below average performance and commiserate with their comrades who took the chance with them . . . It’s a veritable pity party of epic proportions.
Of course, they BLAME the coaches and gurus for not delivering on their promises to create wealth.
It’s NOT the fault of the teachers!
The students have failed to “get” the meaning and critical importance of leverage as it relates to generating sufficient leads and converting a high enough percentage of those leads into customers/clients.
Gary Keller was the first human who turned the leverage light bulb on in my head with his simple answer to the HOW of leverage: People – Systems – Tools. I have “fleshed this out” through an assemblage of other mentors and coaches through the years, and it looks something like this.
- Who are your personal and professional coaches and mentors who will stretch you and hold you accountable?
- Who should be on your team as a partner or employee?
- What alliances can you form with other complimentary businesses?
- Who are the people to want to serve?
- What is the flow of your business?
- MANUALIZE this flow step by step for each significant component of your business
- Lead generation and Conversion
- Buyer process & Seller process (Separately)
- Needs and wants analysis
- Completion (Contract to Close)
- After the closing “Client for life”
- Administrative procedures
- Financial procedures
- “Policies and Procedures Guidelines for you and your team
- Physical Technology – Does all of your equipment make your life easier? If not, find better and replace.
- Virtual Technology – What on-line tools can you be using to make your system flow more smoothly with less effort?
Don’t EVER stop improving your people, systems, and tools.
Your mindset MUST be of continuous improvement always. That slique on-line program you bought last year may become functionally obsolete as it’s competitors innovate while you complacently sail along in the comfort of you’ve been doing things. Meanwhile, YOUR competitors are capturing YOUR leads right out from under your nose.
THIS is hard work, and it’s what you’re going to have to do if you want to succeed in building your own business . . . Go ahead and face the simple truth that you’re an entrepreneur and choose to “build your business” . . . or . . . go find a “real job.”
This post is tough talk only because I want MORE people to SUCCEED at higher levels, and I see so many folks looking for that magical “off the shelf” secret to success that will suddenly make them rich and famous . . . when, in fact, the secret to success is working HARD and doing the right things with consistent persistence.
Now for the really brutal question:
PS – Of critical importance is your working environment. It must support your new-found commitment to improvement. This may require evaluation of your current firm affiliation . . . Is it “innovative enough” to support your yearning to build a better business (and life) for yourself? If you are anywhere in Middle Tennessee and would like to explore other options, I hereby invite you to connect with me to find out if Pareto Realty might be a better fit . . . After all, Richard Courtney (REALTOR, Writer, Beetles expert, Talk Show Host recently said this:
“Pareto Realty, the cutting-edge techno-realty pop firm run by Barry Owen, the king of innovation.”