B-SCHOOL COACHING CALL: No Matter Where Your Business Is At, Start Viewing It from This Simple Framework

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Transcript:

What I've noticed, and as I've been able to take steps all the way from being heavy deep into production to being completely out of my business, what I've realized is this: as team leaders, entrepreneurs, or business owners, we tend to lose track of what really matters in our businesses.

We've all generated a lead before - a buyer lead or a seller lead. We've booked an appointment. We've secured the listing or the buyer relationship through a loyalty agreement or a buyer broker agreement. We've closed a buyer or a seller, and we've gotten referrals.

The Transition from Leads to Referrals

That's the entire business right there. If you look at each of these here, they each can go wrong here. So how do you get a lead to an appointment. There's some stuff there. You've got to pick up the phone, you've got to do well on the phone, you've got to say the right things, you've got to dial the phone a lot of times, you've got to answer the phone when it rings, all that stuff.

Appointment - to sign someone, you've got to be good at the buyer presentation, show them the value, present them to the loyalty agreement. On the listing presentation, same deal, get the price right, go through the whole 7-step process we train on, the equity evaluation, etc.

Signing a buyer to actually getting a buyer closed, there's some things we work on in there. So this isn't a simple process, right? But getting them actually to close a transaction and getting referrals, and what's the process for getting referrals? We have a 60 touch past client program.

This is the entire business. For some reason, it's just helped me to realize that my job - all of your jobs, even if you're in production - is to make sure you know what's going on here. To build your systems around this very simple Lead > Appointment > Taken > Sold > Referrals.

Where Are Your Breakdowns?

As you look at your business, you're looking at where are the breakdowns. Do I have buyer leads? Do I have listing leads? Am I converting my buyer leads to the appointment? Am I picking up the phone? 

Listing appointments - am I getting listing leads? That's more of a struggle for some of you. Am I getting listing appointments? Am I securing those appointments. What's the rate of securing those appointments? All of these are ratios, so you've got buyer leads, buyer appointments, buyers taken, buyers sold, then referrals.

it's just been a good framework for me to work from to be able to look at my business this way. This is really all it is. There's stuff ahead of here, of course. There's marketing, there's online, there's Craigslist, there's pay-per-click, there's yard signs, expireds, FSBO's, geographic farming, radio, TV. Referrals, past client/SOI, Go For No on both sides here. So it's not like there's not stuff that goes on outside of this and at these different conversion points.

But it just gives me a simple framework to look at my business. I definitely recommend that all of you wrap your head around this pretty simple framework. A lot of you get into this program, and you're at whatever level you're at. Let's use the KW. If 7th Level is what you're aspiring to, but you're at Level 2, it's overwhelming for you to see how to get to 3, 4, 5, 6, then to 7.

But when you look at it this way, this is all that matters. No matter what level you're on, this is all that matters in the entire business.