How to Build a Leveraged Business in Only One Year!!!

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Transcript:

MYTH: It takes years to build a leveraged business. This is false! So, of course, this picture is sort of tongue-in-cheek; there's an older person getting into their car with a walker. We don't want to be that real estate agent that still has to show homes into their seventies and eighties.

Problem: Most agents believe that it will take 10, 15, or 20 years to build a business.

There are examples of agents in the markets who have been in the business forever and that's how they built a leverage business and they were able to exit production.

Let's talk solutions...

A lot of this is a mindset thing. We have to suspend disbelief and let go of bad habits and bad thoughts. If you can inspire, enlist, and train talent, you can exit production. It doesn't matter how long you've been in the industry.

The third solution is to focus on recruiting. Your job is to recruit, train, and coach forever and always. So it's a shift, right? Building a real team. Ultimately, take the focus away from your job as a producer to developing yourself as a leader.

Tom Nickley out of Orlando, Florida has a real cool backstory.

He started out in the wine industry, 11 years in that industry, and he mastered prospecting. 300 dials a day was required in that position. Started in real estate only in September of 2013. He knew coming into it that he wanted to build a team, but he didn't know how. His first year, he did 43 deals all by himself, including closings, listing management, marketing, all of that.

He joined B-School Coaching to implement tracking and accountability systems and ultimately build a self-managed team. He will do over 100 sides this year. He's opening a second office and expecting to double production. A really cool success story used my systems very early. Let's hear from Tom Nickley:

"I saw an ad in the paper for alcohol sales and I figured, "Sounds good to me!" Right out of college, I gave it a shot. So I spent 11 years in that industry, learned a whole lot - more than you could imagine - about prospecting. It was 300 cold calls a day every day to successful people. Calling FSBOs and expireds is nothing compared to calling people on the phone and trying to sell them wine they've never heard of before.

"Lars, kind of like you getting out of a very successful career to get into real estate, I had a very similar experience. I left the wine industry and got into real estate, but I couldn't jump directly from wine to real estate because I was the breadwinner for the family at the time and I needed some income. So actually, my first year in real estate started September 2013. I was working another full-time job at the same time, but it allowed me to do real estate during the day. I was working at night.

"To really start focusing on working on my business. I think the game changer for me might be a bit different than for other people because I think I'm at an advantage because I was brand new. I was brand new to real estate. I was brand new to having a team. I didn't have bad habits. I didn't have agents that had bad habits that I had to undo. So he really instilled in me - the first call that we had, Lars said, 'Listen, man, with everything you've got with your background and everything, you could do in your first year what it took me three years to do.'

"And he said, 'Go out and hire three to four agents, teach them your systems, and work on them. Work on teaching them how to be successful at these things and you'll build a business that way.' And I did it the next day. The day after the first phone call that we had, I took myself out of buyer business. I haven't been out with a buyer since the day you and I spoke the first time."