Chapter of The MREA: Part Two – The Four Stages: Implementing the Models – Leverage

It is easy enough to hire someone to do a job. The hard part is hiring the right person to work well in your business. Let’s cover the five key issues you are likely to face when taking your leverage to the highest level.

1. Making The Time To Learn And Implement The RTCK (Recruit/Train/Consult/Keep) Process

“If you don’t have an assistant, you are one” is the phrase Gary Keller uses to explain how leveraging talent can free you up to focus on the higher-level business processes that will propel your estate agency to the next level. The same goes for the inverse. Should you fail to identify and nurture your talent properly, you will eventually get that job handed back. This is where learning and implementing the RTCK process becomes crucial to the growth of your business. Every step requires attention and care to ensure your new hire knows what is expected of them, is constantly improving, and wants to stay with your business.

2. Hiring “Capacity” Talent VS “Cul-de-sac” Talent

The difference between “Capacity” and “Cul-de-sac” talent is straightforward. “Capacity” talent will endeavour to improve, take on more responsibility, and show a desire to grow in all facets of life. “Cul-de-sac” talent, on the other hand, will be good at their current job with little desire to evolve beyond that position. In terms of an investment, “Capacity” talent will return much higher value for their salary than a “Cul-de-sac” talent. While the latter may do the current job well, your business will expand and require new things of your existing talent pool that a “Cul-de-sac” talent will not be able to handle. Always ensure you examine potential hires for what category they fall in to, and make sure you go with the “Capacity” talent.

3. Achieving Accountability To The Right Standards

Delivering a standard that sets you apart from your competition is the first step towards building a successful business and gaining mindshare in your local market. You should be conscious that, although you have very high standards, others can copy or succeed in their own right. Proper standards are established when every team member knows exactly where the bar is set and how they need to conduct themselves to reflect the quality you have set for them. 

One way to ensure you have consistent standards across your company is to document your beliefs. It’s one thing to have an “ethos” or “motto” that you use as a slogan for the quality you deliver, but a true ethos is one that everyone works for you can recite and live by. Once you have your whole team performing to your standards, there is no limit on the potential of your business.

4. Creating Teamwork With “Rock And Role”

A concept Gary Keller describes for getting your entire business pulling in the same direction is “Rock and Role”. Your “Rock” will be the significant business milestones you set on a monthly, quarterly or yearly basis while explaining to each staff member exactly how their “Role” contributes to achieving this big goal. This approach requires you to be firm in your focus on results, meaning that you must be evenhanded with both the repercussions of missing targets and in celebrating achieving your goals. This focus on success and clearly defined responsibilities will make pulling in the same direction easier and more effective.

5. Combining Quality Service and Quantity Service

As your business grows, it may seem difficult to strike the right balance between providing a “quality” service and a “quantity” service that satisfies all of your client’s needs. Early on, it can be easy to assume that lots of personal contact is the ideal route to building a good relationship with your clients. In talking to many Millionaire Real Estate Agents, Gary Keller discovered that the top performers work to a slightly different ethos. “Be a minimalist with great communication” was the phrase that Gary distilled from all of his conversations, which quite aptly sums up much of the ethos of Gary’s book “The One Thing”, in which readers are encouraged to focus on the thing in their business or life that matters most. By focusing on the acts that will generate you the highest amount of satisfied customers and having a strong communication line, customers will feel that they are constantly in the loop and seeing the desired results from you. This line of thinking can be implemented so that you never have to sacrifice “Quality” or “Quantity” service. Instead, you deliver both to an exceptional standard.

In next week’s issue of KiloWatt, we will cover how Money can be an obstacle to success and how you can approach your finances so that success is a certainty.