COACHING TIP: How to Escape the "Entrepreneurial Seizure" and Build a Scalable Business

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Transcript:

I'm going to quickly go through the book E-myth by Michael Gerber, because I want you to be grounded in what this thing looks like. Even if you're in production right now, It's a great look into the mindset to have looking toward the future.

The Entrepreneurial Seizure

The Entrepreneurial Myth says that most new business are not started by entrepreneurs who set out to build a strong business. Most of you got into real estate not with the picture of building a business you can step away from.

Very few of the people I work with got into it with that clear intention. I think God got me into this business, but I didn't know exactly what I was trying to do at the time. But once the buyers took me out whenever they wanted, and I had a baby and a wife, it was obvious that I needed to build a business.

Most business owners focus working in their business. You need to view it as, "Two years from now, I've got to go franchise this thing, and I've got to show the people who are going to pay me $250,000 that I've got it dialed in. It's a business in a box, and I can train you how to do it." That's where you want to be. That's how you always want to think.

Technician, Manager, Entrepreneur

The technician is the person that's working in the business. Tony Robbins calls this the artist. This is the person that thinks they have to list properties forever, that nobody else can go list properties. They're stuck in the technician world. The manager is the person that puts in the systems. The entrepreneur is the person that goes to conferences like this and comes back with 100 things that they dump on their team. Unfortunately they usually do it all at once, and the team is thinking, "Don't leave here ever again."

Obviously, you have to have all three of these in you. When you build up the Corporate Model, you can be the entrepreneur. You've got artists, you've got technicians, you've got managers, you've got an operations manager, making sure the systems that are built are running smoothly and always improving.

Creating a Disney-Like Experience

This has been something big for me only because I've been to Disney a couple times. The thing you have to realize is it's important to think about the client. When you're focused on getting from 50 sales to 300 sales in two years, the client gets lost in there. I've been there. So wherever you're at, making sure what you're what you're building is working for your customers.

There's a time where it's fast and furious and you've got to break through. There's usually that one year where it's just a tough year. For year it was the $1.2 million top-line year where I didn't make any money. I made more money the year before, half the size, than I did that year. I was thinking, "Let's just get through this year." So I was willing to accept a bit of a decline in customer service. But keep this in mind, and I think you'd be better off doing it earlier than I did it.

Ordinary Doing the Extraordinary

It's important to be systems-dependent rather than personality- or expert-dependent. The analogy they use in this book is Ray Crock and McDonald's. It's low-skilled people. McDonald's opens everywhere, and it's always busy on Day One. It's operating smoothly, and it's total clockwork. The total franchise prototype — roll those out wherever you can.