Build systems, not dependency on one person. Michael Gerber's E-Myth separates working in the business from working on it. A real estate team kept performing after their top listing specialist left, proving that documented processes let lower-skilled operators deliver consistent results.
Foreign. So using a turnkey or franchise perspective, the best model for building a successful business is to view your operation as the prototype which a large number of franchise or turnkey operations will later duplicate. The challenge then becomes to maximize the amount of time you spend working on your business rather than in your business. So a key note here is that I've gone through periods of time where I really took the E myth to heart. This whole working on versus versus in and to the point where I forgot to sell homes. It sounds stupid. I just sort of, I was working on really fun things. I love what I do now because I'm, I'm a business owner. But back then I still loved being a business owner even though I had nobody else to that could really produce at the level I could produce. So the key here is you need to maximize the amount of time working on the business, but you still need to bring in sales. So really, really we covered that in I think the first module where I cautioned everyone to not forget to sell homes during this process. Your model. So your business model must deliver value that consistently exceeds the expectations of customers, employees, suppliers and lender. Unless close attention is paid to the creation of added value and regularly exceeding expectation, it is unlikely there will be any long term business to build. So if your gift is serving buyers and sellers as you build out these three levels of your business and you build from infancy to expansion into maturity, that culture of raving fan culture has to stay in your business. Your model must be capable of being operated successfully by people that have very low skill levels. I take a little bit of this is excerpted from a summary of E Myth. There's no one on my team that has very low skill levels, but our business is entirely system driven. So for a large manufacturing operation, a McDonald's, this is the perfect example for McDonald's. And he uses that example everywhere. McDonald's is run by people with very low skill levels. And that's kind of where this, where that comment comes from. But that's not to say that my business, you know, can be operated without anyone in my business. So if we have a key person, quote, unquote, leave the business, my business doesn't suffer for very long. Other people in the business can sort of assume their production or their responsibilities, so has to be systems driven. Only if systems can be put in place so people without specialist skills can become involved, will the model ever, ever become replicable. Or to put it another way, if each franchise requires a clone of yourself to succeed, you've got a definitive Expansion limitation built in. So obviously the point I'm at where I'm not even involved in the business and it's still growing, I've achieved this level. But if your growth is dependent on you being cloned, you're definitely not going to be able to scale your business. This requires you to build a franchise model that is systems dependent rather than personality or expert dependent. You have to build a system where ordinary people can produce extraordinary results. Extraordinary results. So we good example. Recently my top listing specialist, like my kick ass listing specialist, the person that truly replaced me, left our team. I just appreciate her so much because of what she was able to do for our team. But the point is that even losing our top producer will still hit our numbers this year. So she was only a third of her goal was 75 sides this year and she was about a third of the way through. And we will still hit our numbers this year even without those 50 additional sides. Because our business, even on the sales side, is systems driven. We're able to service all of her current listings without any of those listings canceling on us and close out all the files because our business closes out our files and, and we have a listing client coordinator. So we didn't miss a beat. Sad, sad loss. But really, really systems driven. So you have to build a system where the ordinary people can produce extraordinary results. Ordinary seems like a harsh word because I don't think anyone's sort of ordinary. But she can't produce the results she had on our team anywhere but our team. So anyway, so let's end this off with words from the wise from Michael Gerber, where he says most entrepreneurs are merely technicians with an entrepreneurial seizure. And I see this a lot in real estate. Most entrepreneurs fail because you are working in your business rather than on your business.
