4 Tactics to Run Your Business Like a Boss – #TomFerryShow

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Welcome back to an all-new season of the #TomFerryShow!

Our goal with this new season is to bring even more intentionality to the show as well as to integrate viewer questions that will be answered. Send your submissions to tfs@tomferry.com!

For today’s episode, I start by answering a question from an agent and then move on to cover 4 Tactics to Run Your Business Like a Boss!

Let’s go!

 

Viewer Question: 3 Daily Disciplines You Should Be Doing

Katie Day from Houston, TX asked about the top 3 non-negotiable daily habits to help move the needle.

Here’s what the very best people do every day, Katie:

  1. They have a powerful morning routine that fires them up and gets them ready to conquer the day ahead. It might include affirmations, gratitudes, exercise, reading, journaling, reviewing your goals, praying… whatever sets you up to have a highly productive day.
  2. They improve their market intelligence. What’s that mean? It means they make it their mission to be the most knowledgeable agent in their market. They look at the daily hot sheets. They analyze the market. They know the numbers. Only when you make this a priority can you establish yourself as the “knowledge broker” in your marketplace.
  3. They book an appointment. The most important discipline for sales success is recognizing that your job is always to book that next appointment. Find a new one, follow up on an old lead… do whatever you need to do to create another face-to-face meeting with a prospect or client and move one step closer to your goals.

 

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If You’re Not Doing These 4 Things, You’re Doing It Wrong

Now let’s get to the real meat of today’s show…

There are two kinds of entrepreneurs: Those who are actually running a business vs. those who are stuck working “in” their business. And there’s a major disparity in income between the two.

To truly run your business like a business and become that “Boss,” make sure you’re doing these four things every single week:

 

Review Your Business Plan

I gotta ask… When’s the last time you looked at your 2019 business plan? You probably created it last November or December, and now it’s August.

Here’s why I bring it up: The best agents don’t just create a business plan and forget it. They make it a living, breathing guide while reviewing, adjusting and pivoting along the way to their goals. Creating a business plan and sticking it in a drawer does you no good. It’s gotta be top of mind and you MUST find some way to hold yourself accountable to the actions you committed to in that business plan.

 

Enhance Your Business Intelligence

There are three areas you should be reviewing at least once a week…

  1. Industry Trends – This gives you an opportunity to identify threats and opportunities and keep you up-to-date on what’s happening at all times.
  2. Market Trends – Being able to speak intelligently with consumers is all about looking at the daily hot sheets, seeing what’s selling and what isn’t.
  3. Your Own Numbers – How’d you do since last week? How many conversations did you have? How many appointments did you book? What’s the return on investment on your marketing?

Here’s the thing: When you take the time to have this knowledge, your confidence is gonna skyrocket, and you’ll be excited to get out there into the marketplace to talk to more and more people.

 

Review Your Marketing Plan

I love Peter Drucker’s line about all business being innovation and marketing. If you stop innovating, your business becomes stale… not only to you, but to consumers.

It’s all about identifying what makes you different so you stand out on that “potato chip aisle” in the grocery store. Determining why someone should choose you is an ongoing pursuit and a question that must be answered on a weekly basis.

Along with reviewing your marketing plan, ask yourself:

What’s working?

What isn’t working?

What do you want to try next or test?

Remember: Everyone knows seven friends in real estate. Getting to the top of that consideration set won’t just happen naturally. It takes effort, and that’s what you need to be working toward every week.

 

Addressing People, Systems and Organization

Are you running your business with the structure of software, systems and checklists?

Or is it all from memory and “on a whim”?

Again, there’s a giant chasm between those two.

Your objective should be to get to the point that you can say, “Every time we do X, we do it with Y and create Z.”

If you’re not spending time improving your level of service and processes, you’re just gambling and “hoping” for a good result.

Are you truly committed to this business? And to your success? If so, act like it and put the systems in place so your business can run smoothly with or without your direct daily involvement.

 

In Closing, Here’s the Best News…

…About all this extra effort:

If you’re an artist like me, you might be too busy with daily tasks to truly express your creativity. But when you finally surround yourself with the right people and construct powerful systems and structures around you, suddenly you can focus all your time on practicing your artistry while other people and systems keep your business running smoothly.

Give it a try. I promise you’ll love it.

 
Download your 3 daily “non-negotiables” checklist here.

 

It feels good to be back! What do you think of the new format? Let me know your thoughts in the comments below!



 

 

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