Transcript:
Today we cover Myth #3: You have to be good at building systems.
The problem is that most agents don't think they're systems people. They believe that in order to build a leveraged business, you must have experience building systems. This isn't true.
There are at least four solutions to this problem:
- You don't have to be a designer -- you have to be an installer.
- Tracking is crictial -- ROI, cash flow, and agent productivity.
- Database is a simple but powerful tool many agents overlook.
- Categories of improvement -- move needle in areas of your life.
One of the tools in Real Estate B-School that you'll get access to is the Business Tracker, which I essentially paid over $10,000 to develop. It tracks ROI for all your marketing pillars, your 90-day cash-flow forecast, your agent productivity, and everything else you could possibly want to get visibility into your business.
A good example of how this myth isn't true is Kevin Yoder's business. He was a solo agent for 10 years and only started a team in 2011. When he started he working with us, we identified the fact that he built his team on a shaky foundation with weak systems. We helped him implement systems including how to use a database and segment it, organizational strategy, business tracker, and buyer agent accountability. Over the last year, he has seen a 50% improvement with foundational systems and is now focused on personal and professional areas of improvement.
"Even though we grew -- we doubled in volume year-over-year for three years street -- the systems we had in place were a complete mess," Kevin said. "That led me down this road of slowing things down and identifying which systems need to be put in place and which ones we had that were faulty and insufficient. I also wasn't tracking my numbers very well. I realized that this is not the place you want to be if you want to be a business that breaches $1 million in gross revenue. To make that happen, I needed to align myself with somebody who had done that before, who had really great systems and process, and understands exactly where I'm coming from. That's why we aligned ourselves with Lars: he's been in the trenches."
Kevin went on to say, "Everything from our database -- the way we were categorizing our clients, segmenting the database, putting in place a business track -- was addressed by Lars's program. It's all-encompassing. He had us put together something for both business and personal development. Taking the time, slowing down, taking the time to do the exercise, getting back into reality, and then reviewing it daily has made a huge impact not only on my personal life, but on my business." He added, "That document made it hard for me to not hold myself accountable."
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