In this episode of the Million Dollar Playbook, Sharran shares his Four Bulletproof Methods to Build a Sustainable Business. Every one of the successful people Sharran has ever worked with has had at least ONE of these four pillars at their core. If you’re looking to create your own roadmap for success and build a sustainable business, ask yourself if one of these pillars is at your core?
3 Key Points
- To build a sustainable business, build it using one of the four sustainable methods.
- When you chose a method, focus on it until you dominate it.
- Without commitment and accountability, the pillars can’t take you very far.
Show Notes
- 00:36 – Sharran and his partner Peter Hernandez are always asked by agents and team leaders: How can I build and grow my business?
- 01:09 – The key is putting yourself on the path for sustainable success
- 01:20 – There are 4 pillars Sharran constantly uses to evaluate if the building blocks of sustainable success set-up correctly
- 02:18 –Which one of these pillars directly resonates with who you are and how you run your business?
- 02:27 – How can you take that pillar and dominate?
- 02:54 – There are two types of agents:
- 03:01 – Agents who have one of these four pillars as a core pillar
- 03:11 – Agents who are underperforming
- 03:32 – Do you have one of these pillars down or are you underperforming?
- 03:43 – You have a phenomenal opportunity to create your road map for success
- 04:10 – Pillar #1: “Geographic Farming”
- 04:55 – The three stats you should know: total number of homes in your “farm,” average sales price, velocity with which the market is moving
- 05:43 – Know and track these stats to know what the market opportunity is for you to build a sustainable business
- 06:40 – You should let everyone know about your “farm”
- 08:04 – In Sharran’s experience, the toughest opponent is the local market specialist
- 09:22 – Sharran says there is going to be a significant unbundling of services that brokers provide in the future
- 09:44 – No matter what happens, “geographic farmers” will continue to win in the years to come
- 04:55 – The three stats you should know: total number of homes in your “farm,” average sales price, velocity with which the market is moving
- 10:21 – Pillar #2: “Demographic Farming”
- 10:29 – A very targeted group of people need to become a core focus of your business
- 11:21 – Targeting a group of similar minded people and addressing their need means you can give immediate value to any individual who also belongs to that group—this is your “demographic farm”
- 12:01 – Do you have a list of these people taped to your wall?
- 12:09 – Do you look at the list every single day and obsess about what you can do to add value?
- 12:18 – Have you looked at their professional network?
- 13:39 – If you are not obsessing about how you can add value to your key demographic, you will lose them.
- 14:32 – Pillar #3: “Digital Community Building”
- 15:15 – If you’re engaged in online lead generation, stop looking at your clients as names on a list and start looking at them as people you need to build a relationship with
- 15:30 – The 10-10-40-40 rule – 10 want to do something with you right away, 10 don’t want to do anything with you ever, 40 need some time and 40 need education
- 16:11 – Constantly stay in touch with leads in a multi-channel approach
- 16:47 – Show you’re there for them—persist and follow up
- 17:26 – If you’re only sending market updates and open house emails to your list, you’re spamming them
- 18:01 – Can you think of any significant items of value you can create for your clients?
- 18:24 – These items of value are what you should share with your list
- 19:13 – The added value will help get you more clients
- 20:32 – Adding immense value is the only way to community build in the digital space
- 21:04 – Pillar #4: “Database Nurturing”
- 21:30 – What do you do with the relationships and connections that you have?
- 21:46 – The five things you need to build a solid database – name, email address, phone number, Facebook, Linked
- 22:00 – This is the “be everywhere strategy”
- 23:21 – Make sure you have a solid database, make sure you are connected socially and you have to have a thoughtful plan on how you will touch them for the entire year
- 24:02 – Send personal emails instead of generic greetings, even during holidays
- 24:42 – The best CRM is the one that you use
- 26:23 – Ask yourself right now:
- 26:31 – “Which one of these is my one core pillar?”
- 26:36 – “What percentage of my business is pull vs push?”
- 29:13 – “What would be one thing that I could start doing right now?”
- 29:24 – “What would be one thing that I should stop doing that is distracting me?”
- 29:50 – “Who am I going to reach out to today to help me get better?”
- 30:51 – Know the core pillars of your business
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Show Notes provided by Mallard Creatives