There’s a reason you’re called a business owner. A true business owner does not delegate their responsibilities. They’re not allowed to. A true business owner has the proper business structure and is able to execute as well as provide advice.
As a business owner, you cannot ensure success in real estate unless you have the proper tools and organizations to help you on your journey. For me, that means a well planned office space, effectively staffed field offices, and solid systems, many of which I’ve had over the past 20+ years.
However, I also know I haven’t done a very good job on every single aspect of my life in the past 20+ years! Business success is never an easy task. I think it’s your responsibility to assess what you’re going to be responsible for, delegate accordingly, and be sure that you have a strong foundation and team of employees who can contribute to the business.
What are your responsibilities?
How do you want to be regarded and treated?
What kind of quality of life do you hope to create for yourself and your family?
How do you want to be viewed within your community?
What are your goals and what do you hope to achieve?
What brings you satisfaction, value, and happiness in life?
What do you expect from the people you work with on a daily basis?
What do you see when you look in your back yard (your real estate business)?
What drives you?
What will give you that bigger sense of fulfillment?
For me, the answer to all of these questions has become apparent the past 15 years by being able to completely delegate most of my activities. In fact, I frequently say to myself: “I’m a busy person… too busy to be worrying about my business.” You can only time your business so well and you really want to stay focused on the bigger picture. This brings me to my next point…
How are you deciding how you will contribute to your company?
Are you completely trusting your staff to be their best self?
Will you delegate the decision to continue a project to them when it doesn’t truly meet your needs?
What’s the purpose of the meetings?
Which is more important in real estate: Your dream home or your bottom line?
What is the overall business plan for the future of your business?
Does your life allow you to be 100% focused and 100% efficient in real estate?
Have you planned your vacation so that you can be 100% focused on your business?
Or, in other words, how do you see yourself and your business organization in the future?
How will you measure success?
How will you continually build upon your organization and business model in real estate?
Lastly, as your business grows, you might find that it needs to hire additional employees, but have you considered how they will be accounted for in your company?
I’m sure you’ve had some or all of these questions asked of you and have had to make choices along the way. When those decisions are made, how confident are you that they will position you for success? Have your answers changed as you’ve grown? Are you prepared to change your answer to new questions as the business evolves?
It can be hard to say “yes” or “no” to any given decision, but hopefully, you already have those answers. You’re no doubt a leader of others in your business as well and thus a role model to others in the industry as well. It is very important to continue to stand for core values as well as answer questions that are within your full power to give honest and accurate answers to so that they will carry on as part of your personal and business brand. It is also very important that your positive qualities come to light because otherwise, you will reflect the majority of the leaders and business owners that have failed. It would behoove you and all other potential real estate owners to do everything within your control to help create a business and business environment where people who work with and for you can be as successful as you are.
I hope these recommendations will help you get started on your road to real estate success!