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Archive for goal setting

Think back to last year: Did your agents embrace business planning? here are tips to get more of your agents great plans.

Note: Through November and December, I’m going to help you with your 2020 business plans. You’ll find free documents from my business planning system for owners and an invitation to a complimentary webinar. Why not subscribe and be sure not to miss a thing?

Let’s get real. Your agents aren’t motivated to build that business plan–and we aren’t either. We know we’re supposed to write business plans. Yet, if your agents are like 95% of real estate professionals, doing that seems just like an exercise in futility. Most business plans don’t inspire.

Leaving out the ‘Magic’?

I’ll give you specific guidance for you to put that magic into business plans, so you and your agents are inspired every day to not only to complete the plan, but to use it as a very personalized and specific guide to your success.

Why Are Most Business Plans Useless?

Unfortunately, when most people write business plans, all they do is fill in some blanks with “guess” numbers. The problem here is that numbers in blanks aren’t inspiring. They aren’t motivating. They don’t call out and suggest to you that you should look at those numbers once in awhile!

What Really Motivates Us?

If numbers inspired us, we’d all be gazillionaires selling real estate. After all, we say we want to sell more homes than the average agent. We want to make more money than the average agent. You know the drill, and we’ve heard it from hundreds of agents hundreds of times. Yet, if numbers and money were motivators, our results would be different than they are. The fact is that money, in itself, is not a motivator.

It’s what we want to do with the money.

And that’s as individual as we are. Martin Luther King didn’t say, “I have a business plan.” He said, “II have a dream.” You must include the dream part–the emotional driver–of your future in your business plans to make that plan useful to you. That means, you as a business consultant, need to include the three ‘missing’ parts of business plans that I describe below.

Building the Why Into your Business Plans

That’s the motivator. In other words, we have to have a big why. Most business plans don’t build in the why. So, they fall flat, and leave us cold. That’s why agents don’t want to go through the exercise of creating them. Managers always commiserate that they can’t get their agents to write business plans. You wouldn’t want to write a plan, either, if you know it wouldn’t help you with your business the next year.

The Tools to Find that Why

Most people think of business plans as projections of numbers. But, that’s not all there is to a real strategic plan. There are three parts of a business plan that provide that inspiration, that motivation. Those are the parts of the planning process that are most frequently left out:

  1. Your vision--why you’re in this business; how you see yourself after you retire
  2. Your review–what happened in your business that will make an impact on your business in the future
  3. Your mission–who are you in the business

In the next few blogs, I’ll show you how to create these parts of your business plan and get your agents to plan, so you give yourself the inspiration and motivation you need to create and implement your plan.

Ready to create your plan? Take a look at my online business planning program, with all the guidance and forms you need: Beyond The Basics of Business Planning. You’ll get entry as a leader and entry to the program for your agents, too.

It’s time to do your business plan! So, my blogs through December and early January will focus on helping you create that business plan–and getting your agents to plan.

You’ve decided to coach your agents in creating great business plans. but, if you’ve never coached an agent in business planning, it can be quite daunting.A� So, what do you look for? In this blog, I’ll show you how to use their statistic

listings taken to listings sold in normal market time.

to coach them to a better year next year. You would think agents know this statistic, but very few do. Ita��s so important, because it

  1. Determines whether the agent makes enough money per listing or not
  2. Determines whether the agent builds a positive reputation or a poor one
  3. Reflects the agenta��s value-proposition strategy
  4. Reflects on the officea��s productivity and profitability

Your success rate with listings sold is, in my opinion, the one most important reflection of agent value propositions out there.

For example: A�George Smith, a 10-year seasoned agent, has demonstrated a consistent listing strategy. A�Georgea��s a�?success ratioa�� is 40%. That is, he sells 40% of his listings in normal market time. What does that say about Georgea��s values proposition strategy? How is George a�?usinga�� his listings? Is that the culture you want perpetuated in your office?

Sally Overton has a different value proposition strategy. She has a 90% success ratio in listings taken to listings sold in normal market time. Obviously, she is building her referral systema��her raving fans. She is making herself more money in less time. She is drastically reducing the number of complaints (and attacks on her self-esteem, too). She is a role model for best practices in her real estate office. Is that practice more in line with your culture?

Your opportunity: As Georgea��s business planning consultant, youa��ll be a�?testinga�� George to see if he wants tochange his strategy (some agents love being a�?bait and switchersa�� too much to change). Youa��ll have the opportunity to help Sally leverage her awesome conversion rates to obtain even more raving fans. (Nothing succeeds like success).

Do you know your ‘conversion numbers’ in listings taken to listings sold for your company? When you make your own plan, be sure to do a thorough review, and find this number. A high number means you’ll be able to recruit better, get better retention, have better team spirit, and your agents can build on that reputation. A low number means you have a lot to work on!

Click here for a list of common agent business planning mistakes to help you as you coach agents through the planning process.

Excerpted from my online agent business planning system, Beyond the Basics of Business Planning.

Grab My Online Business Planning Program

Thought you’d get it done but it’s still on your ‘to do’ list? I want to help!

Managers: Frustrated because you can’t get your agents to plan? Problem solved! I’ve put my exclusive planning pages online–plus webinars to help you get through that plan fast. Don’t wait another year for business success. See more here.

Managers: I’ll teach your agents how to plan, too! Included in your Manager’s Package!

 

Ready to order? Click below:

Beyond the Basics of Business planning for Managers  $249 (includes all the agent planning materials, too!)

Beyond the Basics of Business Planning for Agents  $99

 

It’s time to do your business plan! So, my blogs for December and early January focus on helping you create that business plan–and getting your agents to plan.

So often, our business plans are ‘big picture’. It’s lovely, it’s inspirational–and it’s utterly not useful to our everyday practice! For a business plan to work, it has to have the ‘big picture’ parts (vision, review, mission, objectives) AND the action plan parts–those things you really intend to do each day and week. These are the actions that result in reaching your monthly and yearly goals.

What Action Plans do Leaders Need?

Here’s a graphic from my online resource, Beyond the Basics of Business Planning. You can see the specific action areas I think you need in your business plan. I made these divisions so that you actually could create action plans that had relevance to what you do every day. And, accomplishing actions in these areas assures you are taking daily steps to reach your goals.

Action Plans Must Relate to Your Goals

Too often, when we get to the weekly and daily tasks, the actions that effect our bottom line just don’t happen.

For example: You’ll see that recruiting plans are one area of our action plans. But, life gets in the way and we just don’t recruit. So, to assure you do the actions you KNOW will result in greater productivity and profits, use these divisions and make your specific plans. In my business planning systems, I’ve made detailed, fill-in forms that assure you think through and make action plans for each of these areas–action plans you can rely on. Otherwise, my experience shows that brokers just don’t get to the details of action planning.

Click here to get a copy of these action plan areas.

Grab My Online Business Planning Program

Thought you’d get it done but it’s still on your ‘to do’ list? I want to help!

Managers: Frustrated because you can’t get your agents to plan? Problem solved! I’ve put my exclusive planning pages online–plus webinars to help you get through that plan fast. Don’t wait another year for business success. See more here.

Managers: I’ll teach your agents how to plan, too! Included in your Manager’s Package!

 

Ready to order? Click below:

Beyond the Basics of Business planning for Managers  $249 (includes all the agent planning materials, too!)

Beyond the Basics of Business Planning for Agents  $99

 

Are Your Agents Still Selling with These Two Ineffective Strategies? Do you need to put new strategies in your training and coaching?

Florida Realtor just interviewed me for an article on the sales strategies that agents are still using–but that don’t work. I thought that was such a great topic that I want to share them with you here. So, these blogs will each explore 2 habits. This is great for agents  and managers to think about, because these habits and strategies can wreck your results!

My first two strategies were no database or contact management and using a ‘love ’em and leave ’em mentality. The next two ‘no-no’s were not customizing your presentations–or just ‘going verbal’, and not qualifying your leads.

The last two are:

  1. Thinking ‘training’ is just for ‘newbies’
  2. Little or no proactive lead generation

Who’s Training For?

Often, when I ask an agent about training, they said “I’ve gone through the company new agent training program. I’ve been trained.” Sure. That’s like saying, I took one piano lesson so now I can play a Beethoven sonata. Not quite…..Or, almost as bad: As agents become more ‘seasoned’, they get new technical information, but don’t take classes in presenting, sales techniques, or management. In other words, they’re not growing as professionals.

Managers: What training do you offer your agents to keep them growing after your new agent training? What training do you offer the seasoned agent to ‘push them back’ to growth and excitement?

Little or No Proactive Lead Generation

No, I don’t mean ‘sit and wait’ for a lead–like from floor time, or leads from your manager, or relo leads–or those lead generation  companies.Ii mean ‘you go out and get the lead’. That’s your insurance plan, and it will protect you when times get tougher (and they will).

Managers: Do you help your agents build in a lead generation plan into their business plans? Do you help them be accountable to the plan? To measure the plan?

What are your ‘old strategies’ that you see agents doing that they need to dr

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Managers: Do you help your agents build in a lead generation plan into their business plans? Do you help them be accountable to the plan? To measure the plan?

What are your ‘old strategies’ that you see agents doing that they need to drop now?

Here’s what the Beatles and Bill Gates reveal about reaching goals.

This month, I’m writing about how we can increase our performance and results–using methods that we normally don’t discuss in real estate. This blogs are a reflection of my new keynote, “You CAN! 5 Secrets from Weird Sources that Will Get You to your Goals.” In this keynote, I investigate the performance skills I learned as a career musician–along with other ‘weird sources’. I show exactly how you can apply these secrets to your business and life to gain exceptional performance.   (and I use the piano to demonstrate!)

You know that the Beatles attained pop music mastery. You know Bill Gates did the same with technology. But, did you know what they have in common-and that you may have, too?

Before I tell you that, let me share something that happens to me often.

You’ve heard the old chestnut, Practice Makes Perfect. I certainly know that as a musician. But, how well do we apply that principle to our business lives? Is this something that is a key to our attaining our goals? I think so. Read on.

The Commonality between the Beatles and Bill Gates

In his fascinating book, Outliers, Malcolm Gladwell studies performers-from Mozart and the Beatles to Bill Gates. The commonality he found was that high achievers spent an average of

Ten thousand hours practicing and honing their craft to get to mastery

In other words, it isn’t talent, it isn’t just circumstance (although Gladwell points out being at the right place at the right time is important, too)-attaining exceptional performance is just slogging it out, practicing your craft, logging in ten thousand hours.

The Beatles–Having to Work Seven Days for Eight Hours a Night Was the Beset Thing that Could Happen to Them

When I read that the Beatles played in Hamburg 8 hours a night, 7 days a week-for 2 years, I instantly felt tired! I know what it’s like to perform in bars for hours! (I played piano in bars to put myself through college–what an education!) But, the Beatles said that experience was key in making them the performers they became. In an interview, John Lennon said, “We got better and got more confidence. We couldn’t help it with all the experience playing all night long…..we really had to find a new way of playing.”

Bill Gates-Practically Living at the Computer Lab

Gates describes his early years: “It was my obsession….I skipped athletes. I went up there at night. We were programming on weekends.”

Isn’t There a Shortcut?

For those of you who have never attained high performance, you don’t–and can’t-realize the importance of practice. You think that it’s just a matter of talent or luck. But, haven’t you known extremely talented people who just extinguished themselves like a flaming rocked? Haven’t you known people with all the advantages who just didn’t attain what you thought they could-or should? Of course.

Are You Willing to Put in those Ten Thousand Hours to Excel?

From the many examples in Outliers, and from my own experiences as a pianist (I have a degree in piano performance and a master’s degree in music theory), I know that practicing your craft provides the only true competence and confidence. You don’t gain mastery by talking about it. You don’t gain mastery by someone trying to motivate you. You don’t gain mastery by dabbling and calling it ‘good’. It’s practice. So, get out there, and practice and perform. Rack up those ten thousand hours, and you will achieve your goals. If the Beatles and Bill Gates didn’t take shortcuts, we shouldn’t try it that way, either. Isn’t devoting enough time to your goals important enough to you to feel the joy of attainment-of mastery?

Help Them Start on the Road to Mastery Now

What’s the secret to gaining mastery? Starting–and starting with an accurate, proven process. That’s how I created Up and Running in Real Estate–the online training, coaching, and accountability program for agents under 2 years in the business. It’s created to start people practicing, getting into action fast, and getting feedback to keep getting better. Check it out.