1 - Shift to the Business Owner Mindset
- As Michael Gerber states in the eMyth Revisited – you are the 3 key roles when you start your business:
- CEO – vision
- Manager – operations; customer service
- Technician – sales & marketing; content creators
Successful business owners have these 3 traits:
- a great work ethic (they show up and work their plan),
- unwavering perseverance and
- a positive, make-it-happen mindset.
Work Ethic - requires diligence, hard work, and self-discipline. This means you have a definitive plan of action and you work it consistently. Positive Mindset is a process not event! You have to be mentally tough!
- Every day, we have a choice about our attitude
- Every day, be prepared to play and win
Perseverance is continued and patient effort.
- Commitment & Accountability
- Power of a business partner, coach
2 - Know Your WHY & Your Business Purpose
Are you truly passionate for your business – what you do? Do you know your WHY? What is your big WHY – your Purpose? When you discover with complete clarity your WHY, then you have uncovered the absolute secret to success for your life and business. You are at your best when your heart (passion) and mind (attitude) are in alignment and connected with your true path and purpose. This is true in your personal life as well as with your business. When they aren’t aligned, there is always a degree of dissatisfaction and unrest.
- What you are doing does not feel like “work”. It brings joy and a true sense of accomplishment and satisfaction.
- By the way, it’s never really about the money. It’s about what the money will allow you to do, what it will bring to your life and for your family.
Develop your Unique Value Proposition & Brand Who is your perfect client? What is their challenge or issue and how do you provide a solution? For WBNL Coaching – team building challenges – RETB the solution Unique Value Proposition - (UVP) Who are you? What makes you unique? What do you do? How do you do it?
Example: About WBNL Coaching
3 - Have a Plan then Take Action
Know Your Desired Outcomes. Identify your target markets - we recommend the rule of 3
- For us it is Teams, Small Brokers and Coachable Seasoned Agents
Have a Budget and Profit & Loss statement
- Reality check when you start a business and don’t have major marketing & advertising dollars to invest
- Most small businesses take 2-5 years to show a real profit (after all expenses including salaries)
- Track and update your income and expenses monthly
Commit to a written Business Plan with clearly defined, vibrant goals. Make your goals S.M.A.R.T.
- S Specific; Simple
- M Measurable; Meaningful to You
- A As if Now; Achievable; All areas of your life
- R Realistic; Responsible
- T Timeframe; Toward What You Want
Persistence Be willing to do what it takes to accomplish your outcomes. Be consistent in your actions and build the positive habits. Practice leads to mastery. Small Steps Any movement or action, no matter how small, toward what you desire is all it takes to build momentum and achieve results. Intention Focus on what you want (not on what you don't want). Create a Success Action Plan that outlines the action steps (tasks and habits) to move you toward your desired outcome. Daily / Weekly Success Action Plan – 3-5 best, consistent actions to drive your business forward or generate new business
- WBNLC – weekly tips and new content monthly
- Connecting with past clients
- Generating new business
- Consistent Lead Follow-up
4 - Create Business Systems and an Operations Manual
What are the key business systems?
- Business Plan & Goals
- Database Management & Referrals
- Lead Generation, Sales & Marketing
- Client Service Pre, During and Post Sale
- Financial Management & Operations
For Real Estate Agents, Teams and Brokers:
- Listing System
- Buyer Sales System
- Recruiting & Growth
- Retention, Training, Coaching
At WBNL Coaching we have a Content Creation Plan & System
- Monthly training
- Our online courses
- Why you need one
- Written procedures for the primary pillars of your business operation will provide consistency, efficiency
- Reflection of your expectations and standards
- Create checklists, job descriptions and training document
- Key asset for your eventual Exit Strategy
- Build it as you go
- Leverage your admin staff if you have it
5 - Build A Referral-Based Business
Clients First Mentality
- Make a commitment to always take care of your clients’ needs first.
- Honesty, integrity and professionalism are non-negotiable traits.
- Fast customer service response time – go the extra mile
Client Relationship Management System
- Use a great software system to help you automate tasks and remind you of key tasks, calls
- Lion Desk, Top Producer
- Email Marketing – Aweber, Constant contact, Mail chimp
- Client Appreciation Program
- Ask for Client Reviews/Recommendations on the key review and ratings sites
- Yelp, FB Business, LinkedIn, Google business
- RE – Zillow, Realtor and Homes.com
6 - Implement a Solid Sales & Marketing Plan
“Customer service is your job, but sales & marketing is your business.“ – Brian Buffini
- If you don’t have considerable dollars to invest initially in your business, you must be prepared to survive
- 3-6 months Reserves in the bank
- Other income sources
- Must be willing to prospect and attract new business in ways that don’t cost
- Making Phone Calls
- Leveraging LinkedIn
- Advertising – Online & Offline
- Training Workshops
- Valuable content online
- Coach tips - blog posts
- Social media
- YouTube videos
- Facebook Live series
- In January 2018, we launched our Wandering But Not Lost Podcast. Our weekly show consists of 3 segments that we repurpose and promote throughout our social media and blogs.
Real Estate and Reality meet as co-hosts, Jan O’Brien and Matt Emerson bring you Tips, Tools, & Topics to supercharge your business. They'll share their insights along with interviews with industry thought leaders. The ethos of WBNL Coaching is helping you to align and connect so that you can prosper. The Wandering Zen segment will offer you some inspiration so that you can disconnect and recharge.
Visit WBNL Podcast for all of our Episodes, Show Notes, Videos and Links to Resources
Discover the world of WBNL Enterprises
- Interested in Building a Real Estate Team? Check out our complete, turnkey REAL ESTATE TEAM BUILDER System
- Join the WBNL Coaching Wanderers Club – The online, virtual coaching and training platform for Real Estate and Business Professionals.
- Your basic, FREE membership includes: WBNL Coaching Real Estate Business Plan Online Course and Downloads
- Travel tips, insights, Wandering Zen videos and more at WanderingButNotLost.com