I love how intimate and vulnerable the room gets when we coach our agents or team leads. It takes a lot of courage to be raw and real and have the successes or challenges of your business be exposed like an open wound. It’s amazing what happens—with innovation and progress—when you are willing to be business-naked.
One recurring topic is: money or one’s income strategy.
The way you run your business (with fear or confidence) is impacted by your current state of sales commissions, income, or cash flow.
Do your activities dictate your income? Or does your income dictate our activities?
The sobering reality is that your activities should be dictated by one important detailed question: Do you want to create “now” money or “later“ money? Please remove judgment from either: for yourself or anyone else.
Your current fiscal state is a temporary physical state, it can always change, decrease or improve. So, as you answer the question of whether you are seeking “now” or “later” money (or both) – come from fact not fiction. It is what it is; be honest with yourself. The next question then becomes, what are you going to do about it?
Auditing Your Income Strategy
At our real estate brokerage you can often find us in our various coaching environments (one-on-one, triadic, teams, groups, masterminds, etc). Regardless of the learning environment, I often suggest that you audit the current activities you’re deploying for sales and marketing and reflect.
I know this may seem super rudimentary but if you want “now” money then you need “now” results – which means you need to implement activities that have the highest likelihood of producing that outcome. Too often I see sales agents who need now-money, yet their actions and activities, albeit great, require time and a seasoning period.
Your ultimate current want, need or destination should be influenced by this answer. The next step? Diving into “now” money and “later” money…
Now?
If you want or need “now” money. Giddy-up. Let’s go. Immediately identify yourself as a high-achieving expert connector. Activate the proactive doer in you.
Get yourself in front of people—with individuals or groups and with people you don’t know—and start conversations that have a high likelihood of creating and closed “business” in the next 2-6 months. Activities should be proactive and in a daily or weekly recurrence. Think cold calls, warm calls, door knocks, forums for networking, etc.
By the way…
Even though these activities can come off as being more urgent, than important, you can still apply creativity! As an example, some people dread “cold calling.” But, there is always a way to gamify—or attract yourself to—something you repel. Find fun ways to call, door knock, or connect that play to your strengths, and experiences and align with the authentic you (if you are passionate about a geo- or demo-niche, have fun playing in that specific arena).
Later?
The fun part about “later” money is that you likely have some time on your side.
To develop a new relationship or enter a new market, such as relocating families from other states, taking 18-24 months is a solid timeframe to accomplish this. The good news is that you have time to be paced, creative, and strategic. With 18-24 months ahead of you, you can find multiple verticals of outreach in multi-channel marketing to help you dig deep and wide.
Depending on your personality, the only challenge you may face might be staying consistent.
Finally, if you are looking to expand into a new market, develop or deploy a new product or tool it is important to give yourself grace with results as expansion takes focused time and attention.
