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2 January 2013

Build a Profitable Business with a Solid Growth Strategy

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Identifying, creating, developing, and following through on a solid growth strategy is like writing a book report. Getting started is always the hardest part.

Building your business by design requires a developed plan.  That plan serves as the compass to guide your course of action. If the plan is effective, it leads to the kind of productivity and profitability that enables you to build a business that will continue to excel and evolve.

Unfortunately, while many agents have good intentions, they fall short when it comes to following through on their strategy. In some cases, actions and habits developed over the years are no longer effective or the strategy truly never materialized.

I see time and again a scenario where agents formulate strategies around their own comfort level rather than what is likely to be deemed effective by the consumer. It is difficult to create an effective strategy if you have never been exposed to one. Even a glimpse at a well executed strategy can serve as a catalyst for an agent to kick up their results a notch or two.

3 Basic Growth Principles

  1. Any strategy should be customized and personalized to the individual’s skill set, desire, and commitment.
  2. There needs to be a conversation with an owner, broker, manager or coach that can objectively share their feedback regarding suggested action steps, methods of measurement, required timeframes and conversation to determine effectiveness.
  3. Build into the plan the opportunity for observation, experimentation, and self discovery.

Each one of these can be achieved by implementing a mentoring system, role playing with peers and shopping the competition. Keep in mind that most strategies are only proven to be effective when the actions prescribed are clearly understood, feedback is shared, and accountability is determined and expected.

Why You Need a Strategy 

Selling in this environment without an effective strategy for growth is like trying to hit a bulls eye in the dark. Anyone can get lucky every once in a while. However, hitting that bulls eye on command takes commitment and consistency.

A solid growth strategy not only helps produce better results but instills confidence, enhances self esteem, and encourages an agent to stretch their abilities through innovation and creativity.

From my experience, agents are typically their own worst enemy. They stop themselves from growing, learning, and developing into the kind of sales pro that would make any owner, broker, manager, or coach proud.

Like the stars in the sky, we all have the ability to sparkle and shine. It all starts with the “right” strategy. What does yours look like?

 

One thought on “Build a Profitable Business with a Solid Growth Strategy

  1. Part of WCI Properties business plan is to connect with customers via social media platforms. We are committed to interacting and spreading the word via blogs, Facebook and LinkedIn. We are definitely open to experimentation, observation and self discovery. We are looking to see what web communication strategies work best for us!

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