![]() |
Real Estate News and Advice |
December 1, 2008 |
|
|
|
|
|
Simplify to Multiply: Do Less and Make More
by Denise Lones
It's one of my all-time favorite sayings and guiding principles and it works! "Simplify to multiply: do less and make more." Most agents seem to think they need to "add more to get more." In truth, it's just the opposite. Let's examine some ways to simplify your business while multiplying your returns. "Simplify to Multiply" Strategy #1: TAKE MORE TIME OFF That wasn't a typo. You're reading this correctly. On average, top producing agents take more time off and produce better results by doing so. In fact, they take time off every 8 to 10 weeks. It helps them recharge, meditate on accomplishments, and regain focus. But possibly the best benefit of taking time off is that frenzied period right before you leave -- where you're forced to get all your papers in order before you go. This does two things. It: 1. Reminds you of all you've accomplished the last 8-to-10 weeks. 2. Helps you get a clear picture of everything you need to address when you get back. And by forcing yourself to "ramp-up" again once you return, you're placed in a position where you have to re-develop your game plan because you've interrupted it. Interrupting yourself is a great tool. Sometimes you can't see the leak in your ship until you get in a lifeboat and look at it from a distance. Interrupting allows you the opportunity of reinventing yourself every 8-to-10 weeks. This simple action can easily result in doubling your sales, because instead of sticking with patterns that you may not even be aware of, you're more apt to identify them … but more importantly replace them with new empowered behaviors. And you've spent time with your loved ones to boot. "Simplify to Multiply" Strategy #2: SHORTEN YOUR DATABASE No, I haven't lost my mind. I'll illustrate with a question: Which of the following is more valuable? A. A list of 1,000 homeowners in your community. B. A list of 100 local businesspersons who have just been promoted to managerial positions. Let's look at A. It's 1,000 names, right? That's a lot of potential prospects. You may think to yourself, "What a great deal! I'll send a mailer out to every one of them." But how much time is that going to take? How much expense? Are more names truly better? And what do you know about these people? Nothing, except that they own a home. Let's look at B. Only 100 names. But each one just received a promotion -- which means a pay raise. Most of them are likely in their 30's or 40's and starting families. Making more money + Growing a family = New house. Of course, not all of them are running out this week to buy a house. But you know a lot more about them than the list of 1,000. Plus, it costs a lot less to send mailers to 100 people than 1,000. Plus, you have a built-in reason to contact them: "Congratulations on your new position!" B is a better choice because you save money by contacting less people and you're contacting people who are prime candidates to buy a new home. Simpler with a higher chance of multiplying your investment. "Simplify to Multiply" Strategy #3: STREAMLINE YOUR WORK PROCESS If you haven't read the classic business book The E-Myth Revisited by Michael Gerber, Run, don't walk, to your local bookstore and buy it now. The author's main point is that all businesses are actually "systems" or "processes" and the strength of a business can be measured by how well the "system" works in terms of time management and profit. The most famous example he cites is McDonald's Hamburgers. In the 1960s, Ray Kroc Jr. purchased something from the McDonald brothers, who owned little more than a hamburger stand. But it wasn't the stand he bought. What he bought was a "process," the system to make hamburgers quickly was the key to success -- a process which followed a series of pre-planned steps that could be duplicated in Kansas City or Moscow. How does this apply to you? Every time you need to send a buyer package or perform a market analysis, you should have materials all set to send out. Do you have a Buyer's Package set and ready to go? How about a Seller's Package? A Relocation Package? A Marketing Activity Report? By having all these prepared in advance, you minimize the time it takes to do your most demanding activities. Your "system" is in place, simplifying your tasks and multiplying your time so you can focus on other areas. "Simplify to Multiply" Strategy #4: SYSTEMIZE YOUR SCHEDULE Are you running around at the whim of others? Do you have certain dedicated times each week to give fully to certain tasks? For example, Monday is my "Planning Day." Each week, I dedicate Monday to plan the next week. My entire team knows not to book telephone calls so I can focus. Friday is "Design Day," on which I focus completely on current design tasks. Now, you may say, "But Denise, you're not actively selling real estate. That wouldn't work if you were." When I was actively selling real estate, I did the exact same thing! Back in those days, I ran the same kind of simplified schedule. Every Monday, I would come into the office, get on the phone and call every seller -- telling them the good news and the bad news. I held nothing back. This was a great way to kick-start my week. By getting into the "nitty-gritty" of details, I set the tone for what I had to accomplish for these sellers in the next five days. This also let people know what their problems were, so I demonstrated that I was their personal "consultant", rather than just another agent. When someone called to request an appointment on Monday morning, I always declined. That was my "set in stone" phone time. Similarly, I never made appointments between 6-8 p.m., because at the time I had a young child at home who needed time with his Mom. By having simple rules for my schedule, I was able to multiply my productivity. These are just some of the many ways you can "simplify to multiply." I could spend all day on this. The time you spend making things easier on yourself generates rewards in the long run. If you implement just one of the tactics I outline above, you'll see results quicker than you thought possible. Published: August 26, 2008 Use of this article without permission is a violation of federal copyright laws.
|
Real Estate News Network
Today's Real Estate Outlook
Spotlight
Today's Headlines
|
|||||||||||||||||
| ||||||||||||||||||
|
for Agents
Readers' Choice
|
||||||||||||||||||