Building a Business? What is your Lead Domino?
Building your real estate business as a rainmaker takes a lot of planning and, consequently, comes with a never-ending list of “to-do’s”. Most importantly, it takes TIME, which should be protected and spent deliberately. Two of the most important contributors to your success, however, have nothing to do with being an effective rainmaker, and they take a large chunk of your valuable time. They are:
BUSINESS PLANNING and BOOKKEEPING
We’ve been raised to believe that multitasking is the solution. A common and necessary thing that busy, successful people rely on to get everything done and maintain a family life as well. Therefore, there should be no reason you can’t handle everything yourself, right? Wrong.
“28% of the average workday is lost to multitasking ineffectiveness.” (The ONE Thing. Pg.50)
Gary Keller, an award-winning author and real estate pioneer, teaches us a different lesson in his best-selling book, The One Thing. If you focus on one thing, the most important thing, then all other things will fall into place. How is this done?
By delegating the things that you aren’t as good at or that aren’t a part of your “one thing” so that your focus can be laser- sharp.
He calls this action item the “lead domino.” Kick this domino over, and all others will fall into place. The lead domino will be slightly different from person to person, and starting with the smallest step, can create extraordinary success if you line up the dominos correctly. Sometimes, the smallest step is sometimes outside your comfort zone. You put it off or even ignore it because it looks scary. Once completed, however, it will have the biggest impact on your overall business.
Some Examples of Lead Dominos in Real Estate Business Building:
- Lead Generating
- Writing a business plan
- Creating systems
- Building a team
You’ll find dealing with finances and bookkeeping a key part of each of these tasks.
Above all, put your focus on prospecting and contract negotiation. Allow other tasks like marketing, paperwork and bookkeeping to be done by those who have the appropriate skills to do so. Hiring service team members lets you put your entire focus on the one thing that’s most important for growing your real estate business, lead generation.
Let Laura Waldrop, owner of Guardian Business Services, serve as your bookkeeper and financial consultant. As part of her 22 years of experience, Laura has 10 years of experience working with Keller Williams Realty as a market center administrator (MCA) and knows the KW models and systems inside and out. Contact her today to set up a quick phone consultation about how you can get started tracking your finances using the MREA Economic and Budget Models.