B-SCHOOL COACHING CALL: The Seven Dynamics of Your Business

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Transcript:

So the Seven Dynamics, there’s being it and doing it. So these are disciplines, and activities.

Being it is the leadership. That’s finding the heart of your business, creating the culture, setting the tone for how you do business.

Then there’s brand. That’s the big picture conversation you have with your customers, where you bridge your personal values with the service that you provide. There’s finance, the real time view into how money is moving through your company from pricing to spending.

The big one for me there, and E-Myth doesn’t talk about it a lot, increasing your net worth. It’s one thing that nobody talks about. And it’s one thing that we have to have more conversations about.

Because 20 years from now, you don’t want to be doing it and doing it and your net worth is a couple $100K or $500K or even $1M. You want to be $4-5-6M deep 15-20 years from now so you can unplug and enjoy a pretty good exit strategy and scale down and not have to sell homes.

The management is finding the right balance between people and systems, creating a place where people love to work because they’re empowered. And then on the doing it activities side is the delivery, sales, and marketing.

Delivery is how you treat your clients, giving them an experience that they got more value than they paid. Sales is the dialogue you have with potential clients. Having an honest conversation where you show off your services and how they are different. Marketing is everything your business does to attract new clients. And all of your “channels” complement each other to maximize results.

So this doing it, the activities, the sales and marketing is what we’re going to focus on at the October intensive. I may bring in some delivery as well. A lot of us haven’t really developed systems for delivering our services to buyers and sellers, especially on the buyers’ side. That’s something that we rare really focusing on now. How do we build out an extraordinary experience consistently that’s dependent on our agents providing the service. But the way they provide it is “scripted.”

So let’s get into it here. I’m going to go through some of the categories. The reason I mention the disciplines is because this system strategy worksheet is organized along those lines. So there’s leadership in terms of how will my employees discover their purpose in being here?

How will my employees know what I want the business to be when it’s fully developed? How will my company maximize time resources? How will you track progress toward my vision? How will I organize systemization of my business? How will my employees learn to think systematically?

What form or template will we use to develop every system? How do I inspire interest in my business and its plan on the inside and the outside? How do I develop leadership in myself and others? How will we communicate the spirit of my business?

And then there’s branding. How will my company identify its target markets? How will my company identify how its customers think and make decisions? How will my company develop a positioning strategy? How will we use marketing strategy to drive the company’s growth? How do we spot opportunities for growth? How do we brand our services and our business?

Finance – how will we monitor the vital signs of our business? The business tracker does a lot of that. How will we move my company toward achieving our financial goals? How will my company manage the cash flow of the business? How will my company track financial results?

For those of you that haven’t implemented the business tracker and don’t have a bookkeeper. I don’t care what size you are, where you are in the principal agent, team leader, or corporate model. That is a big mess. You’ve got to track financials.

I already have financials for March back for all 5 of my businesses. And it’s what, the 8th? So it’s got to be that quick of a turn. You can’t be looking at March financials in July when you decide to have quarterly financials done, or at the end of the year.

How will my company work toward financial strength, including my own knowledge and skill in this area? How do we collect money? – that’s not so much maximize cash. Manage levels. That’s not that critical.

Then it goes into management, select right people. There’s some really good stuff. Attract, retain, create, and revise position agreements. All of those things. So this is a real good one to go through that’s going to position you to be able to have a list of things to implement.