Business
Welcome to episode 27 of Real Estate Mastery - How To Create A Life That Doesn’t Require Your Presence. Today I wanted to talk about something I have been hearing discussed quite often lately, and that is defining the “one thing” that is most important within your business. It is very easy as an entrepreneur, especially a real estate entrepreneur, to get distracted by the shiny objects that often show up in our industry. Instead of focusing or putting effort into the success we are having, we become sidetracked, focusing on “the next big thing.” Instead of making an effort to perfect what is working or find ways to maximize our current efforts, we put are distracted by other opportunities… this is the entrepreneurial way. However, by doing this, we are decreasing our potential success. There was a book written by Geoff Woods, Jay Papasan, and Gary Keller of Keller Williams Realty entitled The One Thing, which focuses on this exact topic. The authors focus on not wasting your time on the shiny object - don’t let yourself become distracted from the one thing you should be focusing on. Breaking Your Goals Into Steps How do you want your life to look next year? In 5 years? In 10 years? And what can you do this year, this month? This week? Or tomorrow to get you there? Last year, when I was looking ahead to 2019, my goals we to spend more time with my family and to find a business manager to handle some of my day to day activities enabling me to work on my business instead of in my business. While these are great goals, the changing real estate market has changed my focus business-wise over the past year. I’ve discussed previously that 2019 has been a more challenging year for my business as opposed to 2018. With more competitors, more people investing, and the rise of iBuyers, the things that worked in the past, are no longer working today. When I was setting my goals for this year, lead generation wasn’t at the top of my list as in 2018 we were generating high-quality leads and a high conversion rate… two things that changed in 2019. Instead of adding more people to my team, my focus has changed to finding the best leads in places my competition may not be looking. Instead of trying to compete in a flooded market, I am changing up my strategy to attract leads in new ways. Adjusting Your Goals Instead of focusing on the thing I wanted to, I had to switch gears and work on bringing in the leads. The methods I had been using previously weren’t working and I wanted to get away from the costly lead generation techniques I had been using. Instead, I have tried to find ways to set myself apart. With all of the competition out there, you need to be different from the other investors and home buyers out there. History Repeating Itself Right now I am having the same feeling I did in 2008. All kinds of people getting into the market, competing for the same leads. Instead of getting lost amongst the competition, I am looking to find our companies in new and unique ways. Back in 2008, I was forced to change with the market. While it was uncomfortable for me, it turned out to work out well for me. This time around I am not so worried. I’ve been able to build a niche in the downsizing arena as people looking downsize really benefit from the services we offer. I’ve been able to partner with agents, sharing leads so that both parties benefit from the sale. Doing these things has set by business apart and will help to propel us into 2020! Take a look at your business. What is your one thing going into 2020 that you can work on to make your business go? What will be the thing that propels you into reaching your goals? As always, I would love to be a resource for agents in the area who are looking for ways to grow their business. Please check out the resources below and reach out to me at any time. Resources: Ben Souchek - https://www.bensouchek.com/home Home Downsizing Solutions - https://www.homedownsizingsolutions.com/ EXP Realty - https://bensouchek.exprealty.careers/ The One Thing - https://www.the1thing.com/about/