Take it to the Next Level!

As we head into 2016 Business Planning season, we’ve all often heard—and likely even used—the phrase “take it to the next level.” Generally, we assume that phrase means some form of increase in effort/energy/commitment to yield an expected improvement of impact or result. So far so good, but usually we toss out that phrase as more of a marketing ploy than a genuine plan of action! Indeed, what are we actually planning to do to “take it to the next level?”

And even more basic, exactly what is that next level we’re so committed to achieving?

Well, we’re on our own for most things, but Tom Ferry, the well known Real Estate Coach and Educator, actually takes it to the next level (sorry!) and provides us a roadmap for The 8 Levels of the Real Estate Business—and how to avoid the dreaded plateau.

Here are Tom’s 8 Levels:

            Stage One: Stability is the goal

Level 1 - No Business Plan & No Proactively Generated Leads = No Income! There is an 87% failure rate in the business!

Level 2 - Diversify Lead Generation & Create a Plan versus the bumble bee or the shotgun approach; leverage your database! Remember, a good financial advisor doesn’t put everything in one stock!

Level 3 - Consistency and Conversion = momentum at last = Stability

            Stage Two: Success is the goal

Level 4 - Hire an Assistant: the huge differentiating step! Are you ready? Hire the RIGHT assistant to handle day to day tasks to allow you to leverage your time and energy

Level 5 - Grow Your Team & Operationalize (Install Systems): you now have a business and your role changes to leadership not just sales

Level 6 - Team Out Produces You: you now have a machine and you’re only as successful as your team!

            Stage Three: Significance is the goal

Level 7 - Extend the Cash Cow: you take your business to a level of significance and you make more money than you can plow back in

Level 8 - Exit & Succession Plan: your business has a life of its own and the value is in your database. Sell to the next generation.

So, where are you in your journey in the Real Estate Business? Tom Ferry recommends we take the following steps if we want to “take it to the next level:”

1.    Get honest about where you really are! Have you been in the business for years yet still have no Business Plan and No Proactively Generated Leads? Or are you giving new ideas a try but bouncing from one shiny object to the next? Or are you now solidly Consistent and feeling some Momentum but have no idea what to do grow further—you’ve plateaued! Be honest with yourself.

2.   Write a detailed business plan and set deadlines! Remember, a goal without a deadline is merely a dream. And folks who have a detailed written plan—in any endeavor—are far more successful than those who wing it.

3.   Implement Accountability and Alignment: Your commitment and your behavior must align!

4.   Be sure to Track and Measure: If you want it to count, you have to count it! Tracking and accountability foster that alignment of commitment and behavior.

So, at which level are you in your Real Estate career? Have you plateaued? As you focus on our detailed planning for your business for 2016, take some time to put together your own plan to “take it to the next level!”

David M. Hassler

VP, Professional Development