How to Carve Out Your Place in Real Estate History
In building a great real estate business, there is no single defining action, no grand program, no one killer innovation, no solitary lucky break, no miracle moment, no silver bullet.
Rather, it’s more like turning a giant, heavy flywheel.
Pushing with great effort–days, weeks and months of work, with almost imperceptible progress–you finally get the flywheel to inch forward. But you don’t stop.
You keep pushing, and with persistent effort, you eventually get the flywheel to complete one entire turn. You don’t stop.
You keep pushing in an intelligent and consistent direction, and the flywheel moves a bit faster. And faster and faster. Then, at some point–breakthrough!
Cool thing is, each turn builds upon previous work, compounding your investment of effort. The flywheel flies forward with almost unstoppable momentum.
This is how you build greatness.
The Article That Has Been On My Mind for Months
I’ve been thinking of this article for nearly nine months. Maybe even longer. Probably before I even posted my first article on July 2, 2007.
Since then, each time I’ve posted I’ve always asked myself this question: “Is this helping you [the real estate agent] not only survive but thrive in this current market?”
I’ve always felt that posts that talk about this negotiation tip or that prospecting tip sometimes miss the point–the greater point: survival and greatness are founded on doing the basic but essential stuff over and over again.
Think about it: If you are lost child stranded in a forest on the side of a mountain, it only makes sense to teach you how to stay warm, find food, filter water and seek shelter. Ignore these basics and your chances of survival are slim.
That’s how I view your helping you carve out your relentless focus on the highest money-making activity you love to do best [what Jim Collins calls the Hedgehog Concept].
Carving Out Your Place in Real Estate History
By sustaining this relentless focus on what you do best, you build results. Those results in turn attract resources and commitment and clients, which you use to build a bigger, stronger business. A sustaining, compelling business. A business that competitors have to reckon with.
If you do that now you may not be a millionaire in two years [assuming you are not a millionaire now, of course] but you may be able to stay above the water with some greenbacks in the bank to boot.
Just think what will happen in a good market.
However, maybe you are in a hot market like Austin. Then you definitely understand this:
People want to feel the excitement of being involved in something that just flat out works.
When clients and prospects begin to see tangible results–when they can feel the flywheel beginning to build speed in an individual [whether it’s by consistent recognition of you by advertising or word of mouth]–that’s when most people line up to jump on board–whether they are clients or colleagues. They sense something big is happening and what to get on board.
This is the success of the flywheel. Success breeds support and commitment, which breeds even greater success, which breeds more support and commitment–round and round the flywheel goes. People like to support winners! Jim Collins
Examples of Financial Success in Non-Profits
In the real estate business the driver in the flywheel is the link between financial success and a growing reputation. Take a look to the social sector to see what I mean.
Does Harvard truly deliver a better education and do better academic work than other universities? Perhaps, but the emotional pull of Harvard overcomes any doubt when it comes to raising funds. Despite having an endowment in excess of $20 billion, donations continue to pour in.
Does the Red Cross truly do the best job of disaster relief? Perhaps, but the brand reputation of the Red Cross gives people an easy answer to the question “How can I help?” when a disaster hits.
Is the American Cancer Society the best organization for conquering cancer or the Nature Conservancy the most effective at protecting the environment? Perhaps, but their brand reputation gives people an easy way to support a cause they care about.
Conclusion
When you have a relentless focus on the highest money-making activity you love to do best, you will naturally create the flywheel effect.
This focus attracts believers, builds strength in your business, demonstrates results and builds the brand. It’s a cycle that feeds itself.
Consistency distinguishes the truly great–consistent intensity of effort, consistency with focus, consistency with core values, consistency over time.
Look at people like Joe Girard, Jim Rohn or Roger Dawson.
Enduring and great real estate or sales people preserve their core and stimulate progress, separating core values and fundamental purpose [which should never change] from mere operating practices, cultural norms and business strategies [which endlessly adapt to a changing world].
Remaining true to your core values and remaining focused on your Hedgehog Concept means, above all, rigorous clarity not just about what to do, but equally, what to not do.
And that will help you make your mark in real estate history.
Leave a comment if this post was helpful or if you have anything you’d like to add.
If you like what you read, subscribe to the Real Estate Marketing Blog.
