How To Create A Business Framework For Success

Do you have a roadmap, a blueprint in place to build a real estate business that allows you to have not only money, but time? That's the ultimate challenge in real estate. It's this balance between, you know, the only way you know how to make more money is to put more time into the business. So you end up, you know, successful on the one hand because you're doing a lot of transaction and maybe the money is good, yet your time is in your own and, and you're working pretty much every evening, pretty much most weekends. And oftentimes like you'll take a vacation and you'll work most of the vacation. Raise your hand as you're watching this video if you have worked on vacation, right? So you don't wanna do that. It's not sustainable. It's gonna piss off your spouse, you're gonna miss time with your children, your physical body's likely gonna break down. Your spiritual journey is not gonna be where you want it to be. So today I want to dig into, you know, what is the framework for you to build out a business that is a real business. It's possible to be able to, you know, approach your business differently than you might have been approaching it in the past. If you stick around, I'm going to give you the exact blueprint that you need to follow to lay your business out in a very specific way so you can have time and money, freedom. If you like the video, always give me the thumbs up. Subscribe to the channel if you, and make sure you turn notifications on so you know first about any video when it hits. Okay, so after that introduction, you may be thinking like, man, you really painted a bleak picture in terms of how to build a real estate business or how challenging it might be. You know, the truth is real estate is a burn and churn industry. 80 to 84% of licensees don't renew by their second year. The stats are horrific when it comes to income that agents are able to make a 16 year veteran. So agents that have been in the business for 16 years make $72,000. According to the national association of Realtors, the average gross income, gross pre expenses of real estate agent is $42,000. The two year agent makes $9,000. So that's why that failure rate is so high. They're not making enough income to actually do anything with their real estate business. So when I talk about having a roadmap in place, there are specific things I want you to look at in your business and how to look at your business so that you can not only be successful, quote unquote. And I always put quotes around successful or success because our industry defines it in ways that I don't necessarily agree with. You know, when I look back on my early days in business, 2002, 2007, 2008, it was a wild ride. I was that traditionally successful real estate agent and I was working 70 to 80 plus hours a week. I was not sort of creating a happy home life. My son Anders was born in late 2007. I was not really. Luckily, I don't think he remembers those early days, 2008, when he was like 1 years old. Yet I wasn't there and I wasn't available and I wasn't present. You know, Julie had a ton of pictures of me on my phone just doing deals, sort of in the business. And I just, at that point I focused on, let's just look at this thing a little differently. How could I still provide a service to buyers and sellers that is like better than I could do on my own by just breaking down the job of a real estate agent into its different pieces. So 2009 was the first year, late in 2009, September, October, that I actually wrote out a business plan. And the business plan was super detailed. It talked about the things I needed to do this quarter, this year, what three years look like, what five years look like, and even what 10 years look like. And so I had a 2012, a 2014 and a 2020, sort of just different points I wanted to achieve and different things I wanted to achieve both professionally and, and you know, what my real estate business looked like. And also personally, my financial situation, my ability to travel, the amount of time that I put into the business, and even my wife Julie, whether she was working or not. And so my first three year plan had me at the end of three years, have me only working on listings, working less than 40 hours a week. Keep in mind that I only had an administrator at this point. And this was the year that I sold 58 homes. So me and part time administrator sold 58 homes, hadn't hired my first buyer agent yet. And I had this vision to sell like 200 homes three years from now. And I was only going to be doing listings. So not only did that come to fruition because of this clear plan, I was totally out of production. Not totally. In 2012, we sold 248 homes and I did one transaction and I did it on the right financial model so that it was a profitable business and I could do different things. In the business, I just didn't want to be involved in grinding out transactions. So when you think about your business model or, you know, the roadmap you have in place, do you even have a roadmap in place? You know, if you don't have a roadmap in place, you have to stop to think about, you know, where you want to end up in your business. This concept of, you know, a three year vision and if you choose to just kind of put your head down and work on what's in front of you and the chances that you drift, like unknowingly almost, you know, let's say in the area of your finances where you're not putting a place, putting a system in place to generate or track net worth, right. The chances that you end up in a good place with your finances are pretty slim unless you have a vision for where you want to be in your finances. Same thing for your marriage, right? If you're not intentional about like, okay, three years from now I'm going to be at this point in my marriage, me and my wife are going to be, you know, super close and best friends and talk every day and lean on each other. There are plenty of marriages that, you know, without that intention, they're going to drift, right? And you'll end up three years a little off track, three years more a little off track, and then your kids go away to college and you have nothing left. And that's why divorce after kids leave the home is so prevalent and put real estate on top of a marriage, on top of being a parent, and it goes sideways pretty quickly. And so the encouragement in this is simply think about how you can set up your business structurally to be able to have a business that's sustainable. Sustainability is this concept of, you know, you could do it for a long, long time. Working evenings and weekends, 60 to 70 plus hours a week is not sustainable. The journey to true business ownership, it's not an easy one. I'm not going to tell you that it is. I will say this though, that traditional methods and traditional success, that's a tough road as well. You know, I know a lot of folks that have come to their, you know, late 50s or 60s and they're still grinding out transactions and they haven't made this step into structuring their business in a way where they have a shot at some leverage and some freedom and being able to make more money in less time time. If you're at the point in your journey where you just wish there was a way to set your business up, you know, around what we call drivers. Like, what are the four drivers that are really important in your real estate business? And then inside those drivers, we have what we call accelerators. These are the tools and systems that you need to really master in order to build a business that doesn't enslave you and actually gives you a life worth living. So go to predictablerealestatesuccess.com that's predictable real estatesuccess.com and as always, give me the thumbs up that helps us on the Google juice and subscribe to the channel, turn notifications on. You know, doing these videos is just my way of giving back to an industry that has given me so much over the years. And so keep tuning in for more. Just good word on building a business that gives you a life by design. We'll talk soon.