Transcript:
Law of the Lid
The first Law of Leadership is "The Law of the Lid." I've covered it already so I'm not going to say it again, but this is really a foundational realization for me. For better or worse, your ability to build a business all rests on your leadership.
I know we teach a lot of other things in Real Estate B-School, and you all want to get more listings and cash commission checks, but it all comes down to leadership.
The higher you climb, the more you need leadership. The more impact you want to make, the greater your influence needs to be.
I ask myself the question, "How dedicated have you been to developing yourself as a leader?" Who's been studying leadership for more than five years? Elrod, Mikesh, Jason. Anyone for a year?
It's the weirdest thing - I see it so clearly now - that it's the law of the lid. Here's a good illustration from the book where you could be the most talented and driven, and it's only going to take you so far. The fact that you don't know how to inspire others and you can't influence others, is going to be a limiting factor.
Your overall effectiveness as a business leader comes down to a mastery of these 21 Laws. There's more to leadership than these 21 Laws, and there are lots of good resources I could give you outside of this.
So let me ask the question, "On a scale of one to ten, where would you consider your level of leadership?" By the way, this is the room where if you're seeing success, you can just own it and be proud of it; there's no reason to be sheepish.
I feel like in the middle of the road here. I've always done really well in my business, but I think I'm capped out right now at a 5 or a 6. Pushing that line over is critically important.
Smart, talented people are only able to go so far because of the limitations of their leadership - to reach the highest level of effectiveness, you must raise your leadership lid. You need a lifelong dedication to the study of leadership."Ramp" Phase
This is like utopia for most agents; they're selling 2-6 homes per month. This is where a lot of folks come into Real Estate B-School. In their markets, it looks really good and people admire them, but it's usually a complete disaster.
There are no systems; they're just hustling but there's no foundation to any of it. But they're doing top 3-5% in production. They're doing more than most agents will ever do, but you don't have any time - It's 24/7 and kind of a joke.
I've said - and I hope it never happens - but if I had to go back to the "ramp" phase without the knowledge I have no and do it over again, I think I would just let it go. I was pretty quick about repairing the holes and moving my business forward, but this is a challenge if you don't have the systems in place.
It's all about dollar productive activities. If you're in this role now, once you flip the switch to believe you're worth $500/hour, everything you touch feels like "Why am I touching this?" Every time I've made that decision to increase my number, I have to continually add that value. It's not just a gimme.
It's all about elevate and delegate.
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