At least every year – even better if you can do it more often – you should take a moment to step back and think about your business. These questions can lead to changes in your business plan (you have a business plan, right?) but they can also help point the way to a healthier business. It is important to consider these questions with an objective eye. I find it helpful to answer questions that lead you to assess what is – and what is not working – in your business.
Here are my four favorite questions to ask an agent about their business:
#1: Who is on Your Team?
Whether you work alone or in a team, every agent I have ever met has a team of people that the need to help them in their business. It could an assistant, a spouse, a lender, an inspector or even the person who cleans your home. We all need a team and I firmly believe the best agents have surrounded themselves with the very best people. I know I have, and I am thankful every day for that. Know who your team is, who you can rely on, and who you can delegate to when there is an emergency or you need a break.
#2: Do You Have a Written Plan?
Every successful business has a plan, a vision and a road-map. Know what you want and know what you are willing to do to get there. Write your plan down and DON’T put it in a binder or file and forget about. Your plan needs to be front and center. Your plan needs to be reviewed every month and it needs to be a working document in your business not a filed document in your business. When you write down what you want, how you plan to get there and what you will do for a backup in the event things go wrong you have a safety net and a clear plan for what you need to be doing. A good written plan is essential for a successful real estate business.
#3: What Isn’t Working?
It is critical to get totally honest with yourself about what isn’t working in your business. When you can examine a list of things that just don’t work anymore for you then you are able to see patterns and possible solutions. Knowing what doesn’t work in your business is as important as knowing what does work.
#4: What One Thing Do I Need to Change?
We all have one thing we know instinctively needs to change in our business. Perhaps you spend too much time hiding behind your computer and not connection with people. Maybe you need to step up your client care or learn a new skill. Whatever that one thing might be, imagine what your business could look like if you just acted on that.
I know many of you want a big long list of questions, but today we will focus on these four. If you implemented these four things into your business, the change would be monumental. Every business owner comes to a point where they need to honestly ask the tough questions that will initiate change.