Chapter of The MREA: Part Two – The Four Stages: The Opportunity of the 7th Level
In The Millionaire Real Estate Agent, Gary Keller goes in–depth on the model that built Keller Williams – The 7th Level Concept. Gary proposes seven distinct ‘levels’ that you can move through as a business owner. As the sole employee in your business, you start on level one, taking responsibility for every task that may grow your business and generate profit. As you begin to leverage people, systems and tools, you will move through the levels of business ownership until you reach a crossroads.
The second issue of Receive A Million isn’t an issue in itself. Rather, how you choose to approach business ownership. There will come a time where you have to decide whether you want to work on or in your business – which we covered in KiloWatt #35.
Gary Keller encourages that, should you decide to stay working in your business, you seriously consider how you can master investing (you can buy Gary’s guide to property investment, SHIFT, from the .) You don’t need to reach level 7 to become a Millionaire Real Estate Agent; becoming an exceptional investor can be your path to building a passive income stream to set you up for life. However, you still need to either stay as an active participant in your business day-to-day or hand those reigns over to your Administrative Manager (as per the 7th Level Concept – pg. 273, The MREA.)
Both are viable options that will allow you to pursue different avenues in your business and life. It is up to you to decide whether you want to stick at level 6 or move into the 7th level by stepping back from your business. As per earlier issues of our MREA chapter summaries, ‘stepping back’ does not mean your business will run automatically; you will still need to provide leadership and guidance if you aren’t selling the business.
Take time to decide what path works for you. There is no right or wrong, only what delivers you the quality of life you and your loved ones deserve.