Tangibly Measure the Impact of Your Projects

   

Transcript:

This is a good tool for anyone, called an Impact Filter. This is a Strategic Coaching tool that will lift the project off the ground. Most importantly, it helps you determine if it's a project worth doing, so what's the impact goal for doing this?

So for me, a big push the first quarter here is listing system changes for The Lars Group. We're putting things together, changing stuff, going for higher commissions. We're looking at the listing presentation and stuff like that, more data, a lead behind with top 10 questions, our testimonial booklet, all of these things that we're working on. What do you want to accomplish? I want to get 7% commission two-thirds of the time this year. I want to get more money. I want to transaction fees more regularly. I'm going to have my clients know, hands-down, that we're the way to go.

What difference is it going to make? It will add a lot of money, more than half a million bottom line for The Lars Group. The big differences are more services, and a more stable company. If a shift is coming in the economy at some point in the future, we'll be better capitalized for that shift, right? What does the result look like? 67% of the time we're collecting 7% of commission.

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What's the best outcome if you do take action? Describe that. What's the worst if you don't take action? Describe that. What has to be true for this project to be finished? You list all the reasons, things that have to be true, and then the first four steps of the action plan.

This is enough for you to look at it and decide, is this project even that exciting? Is the impact going to be great enough that it should be one of the multiplier projects, or one of your rocks, right? One of your focus areas for a quarter.

If it is, for me, the reason I have an action plan here, is that for any of you who have admins, this is the perfect tool for them to understand the project. When you put the project in for them, they know what the first steps are and what it's going to look like when it's done, really tangibly know what it's going to look like, how important it is. The importance, the purpose, the ideal outcome. So I would use this tool for sure.

So there's some things that I have to work on. A lot of the marketing aspects of the real estate business I still work on, partially because I really enjoy it and partially because there's no one who can fill that void at the level that I do that in my business. I have a marketing coordinator who's really good at coordinating the stuff I come up with, and she also can push back on things that aren't worth doing. I've got a good person for that role. For a lot of you, if you just have one key admin, they are the marketing coordinator, the listing coordinator, they are the closing coordinator, and developer of systems. They have a lot on their shoulders.