Your Success Depends on Your Ability to Structure

Transcript:

Some people in this room have small teams, or they don’t have teams, or they’re running big teams. The ability to structure your team in a certain way is crucial for a well-functioning business. Even if it’s just you, a buyer’s agent, and an admin, you still need a defined structure.

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Every real estate business has four major functions: marketing, sales, operations, and finance & HR. Other than that, you function as an integrator or a visionary in your business. Not all entrepreneurs are visionaries. Visionaries tend to make emotional decisions, like I do, and that’s why I have Kendra as the CEO of Real Estate B-School. She shields me from messing up the main components of the business.

Now, if you’re not generating enough leads, you have to look and see if anyone is spending time in the marketing position. Even if you don’t have a full time marketing person, is anyone spending time there? How many hours are you working on marketing? This was a huge discovery for our team, and finally we started dedicating someone solely to marketing. I had a virtual assistant to help with marketing and organizing all of my ideas as a visionary. 

Our big rock for this year is getting our marketing together. For a while it was an extremely complicated and disorganized system with a marketing coordinator and an account administrator, but we’ve cleaned it up and now have a full time marketing person. We had the same problem with our sales team.

At one point, we had some of the sales team reporting to an operations person, and the other half reporting to a sales manager. There was a big divide and not a lot of unity present. We’ve since cleaned our systems up and have a structure for sales and operations, but structuring your business is incredibly important. No matter how small your business is, it’s never too late to start getting it organized.