Master your Mindset To Grow Your Business & Your Life Part 4

What's up, Business Freedom Podcast listeners, welcome back. This is part four of four on a series on mindset, and the title of the series is your mindset matters. Master your mindsets to grow your business and grow your life. If you've been around me, you know that business is here to provide stuff outside of it, and it's not here to consume us. And so if you're at the point in your journey where you're being all consumed in your business, we've got to have a conversation. You've got to go back and listen to parts 1, 2 and 3. There's 12 critical mindset shifts that I'm challenging you with in this podcast series. And so go back, stop listening to this one and go back and listen to the first three. So we're on 10, 11, and 12 critical mindset shifts. And some of these don't make sense if you didn't listen to the first one. So again, stop play, stop the button, the play button and go back and listen to parts one, two and three. So do the work. Is our critical mindset shift number 10? You know, this isn't a critique on millennials, but I heard it from Simon Sinek and it's a 15 minute video. He's being interviewed and he talks about millennials. And I think this is basic human nature. Well, not basic human nature. Human nature in the year 2019 or 2020 or. I don't think it's going to change anytime soon, it's only getting worse. So when it comes to like doing the work to build something amazing, the Simon Sinek piece talk talked about millennials. He was talking about want this big impact. So they see this goal, this thing they want to achieve. And he says it's like they see the top of the mountain and the thing they want, they just don't see the mountain. And for real estate team leaders, the mindset shift here is that you've got to settle in and be consistent and persistent in building this thing in a way where it lives without you. And that was critical mindset shift number one is think about this thing as if you had to replicate it 10,000 times. The franchise mindset. And so when it comes to doing the work, this is going to be hard no matter what. Being in a hyper competitive industry where there's way too many folks that hold real estate license. In Charlotte, there's 15,000 licensed real estate agents, up from 5,000 just what, six, seven years ago. So we have tripled the amount of agents and we don't have triple the Amount of transactions. So we have that to contend with. We have the consumer shift in terms of how they want to be treated and handled and we have the just the business model shift with Ibuyers and Zillow and Open Door and Redfin and then we have a pending economic shift. So the ultimate shift storm is upon us and we, we've got to realize that we just got to settle in and do the work. Do the work. Anything you're touching, have a mindset towards building a system for that thing so you can move on to some bigger system, some bigger job in the business, delegate so you can elevate to another level of productivity and dollar productivity. Right. We talked about on mindset shift, what was it? Mindset shift number four, it's like knowing your value in terms of every hour you want to put into the business. So critical mindset shift number 10 is to do the work and honor the struggle. When it gets hard and it feels painful and you feel like wanting to give up, just expect it. Don't get so surprised by it that you want to back down. You know, we have members that get into our program and you know, there's a lot to do and it needs to be done in a certain order. And some of it is sort of stretching skill sets and mindsets and you know, even if we have the systems right, the guiding quote for our time together is the Tony Robbins quote. 80% of mastering anything is it comes down to psychology, which are your mindsets. And so you get to a point where, you know, this member in particular just got to a point where like this just feels hard. Like I just want to go back to being a solo agent and it's a young guy with a young family, young kids, a spouse that wants to spend more time with them. And it's like that's going to be a hard path, man, that's going to be a hard path. And he wants it bad. And is he really settling in to like just settle in next three to five years, right. 12 to 20 quarters, right. Break this thing down at 90 day increments and then let's just get to work 90 days at a time, 13 weeks, every quarter. Right? Week after week, day after day. Let's just do this thing. Alright? Critical mindset shift number 11. This is one I am beyond passionate about. I think when I look at, you know, where our business has changed the most over the last, you know, few years, it's our ability to provide legendary service. So critical mindset shift number 11 is legendary service. So as we look, well, two thoughts here. When I study other industries that have been majorly disrupted, it's the service providers that have taken the high road in terms of a differentiated offering that have done really, really well. You could study any industry, even industries that are just total commodity, like the hotel industry, Ritz versus you know, a Courtyard Marriott versus a Motel 6 Nordstrom or I started going to Lululemon. You know, the level of service I get at Lululemon or Nordstrom is different than I get at Kmart or TJ Maxx. And there's nothing wrong with Kmart or TJ Maxx. I used to crush TJ Maxx back in the day, right? It's just different. You go in there and you're sifting through racks and it's all sizes are all out of like. It's just a different experience than when you go to Nordstrom and they're getting you a coffee and, and you can go to their cafe and you could, you know, just a different experience. And then Disney versus my local amusement park, right? When I go to Disney, I know that everyone that works in that park, they are there to make sure that everyone attending is going to get a trip of a lifetime. They're going to experience something different. And it doesn't matter if they're sweeping in the park, if they're driving a sanitation truck or if they're a ride operator or if they're a character, you know, or they're, they're helping a character. It's just a different ball game that they're playing. So think of your real estate business with having to compete on that level. You know, if you can't sit down with a buyer in initial consultation and every step leading up to the point where you have that face to face consultation, you didn't think about how they felt and how they would want to interact and do business with you. You've got to rethink the whole thing and you've got to design the experience with buyers and sellers to be legendary. Legendary. Like this is where it gets fun. And by building this out in your business and we've now created everything from sales to 30 days after closing, we've got like 8 to 10 specific touch points that we built out in our business with scripts, with tracking to make sure that we actually delivered on this legendary service promise. And so that's the mindset shift. If you're not building something that's going to provide legendary service, you are going to be marginalized. You are going to be disrupted by a website where you can do a few clicks and you're off to the races for 500 bucks, you're completely on the MLS and you're out of business. If you're competing with that mindset shift, last but not east is number 12 is to begin with the end, begin with the end in mind. And this requires you to slow down a little bit. So the mindset shift here is that if your goal is to build a multimillion dollar top line build business that has a seven figure net income that provides an amazing, differentiated, legendary level of service to buyers and sellers, and internally you provide support, tools and structure and resources to your salespeople and a culture that's worth sticking around for the long term. And you're building just an amazing small business. You've got to slow down in order to speed up. So if you think of the foundation of a building, you know, it takes more time to kind of do the foundation right so that that building can stand forever. And if you don't get the foundation right, you're not going to be able to to do this thing at a high level or you're going to be required to be in it every day, yourself, personally, which may be okay. Maybe you want to work 50 to 60 hours a week. There will be a time though where you're realizing that you're doing things in your business that aren't worth the kind of pay that you want to make. And you're stressed all the time. So we always come back to time, money, stress. How did time, money and stress look for you right now, today, and then what do you want it to look like in the future and what has to happen for you to get there? This is one thing I've always been really, really good at. And probably the defining moment for me in terms of like a planning process. I went through a planning process in late 2009 where I put together a plan, I'm looking at it right now, that had a three year, a five year and a ten year, ten year goals. And it talked about the sides of my team, the gci, the net income, the amount of salespeople, the amount of administrators, how much time I had in the business versus on the business, the charitable giving and work I did, how much vacation I took per year, how much liquid assets I had, my total net worth, and how many days a week my wife worked. And it went from 240 sides I wanted to do in 2012 with six agents and three admin, you know, four weeks of vacation, 500 grand liquid assets, meaning I could Write a check in less than seven days for half a million to a million net worth. And then my wife was down to working two days a week to 320 sides. By 2014, I was 50, 50 in and on the business. I was only taking listings Monday through Thursday. Only eight weeks of vacation, $800,000, 1.4 million net worth. And Julie only works if she wants to. To the point where in 2020 the goal was 3.6 million GCI. I had a wonky thought about how many salespeople that would take. It was 18 outside sales, 6 admin. 100% on the business, less than 20 hours a week, 12 weeks of vacation, 1.5 million liquid, 4 million net worth and enough money to retire. And so everything I just read to you, I achieved. And it's only because I was super diligent. Not even diligent. I mean, it didn't take much time to go through that process. But I always had an eye toward the vision of what I wanted for my future. In Proverbs 29:18, where there is no vision, the people perish. The people in this case is you. Without a clear vision of what you want your business to look like and how that business ultimately serves a bigger purpose. And let's be honest, it serves you and your family and your ability to show up in the world better and differently and be a contributor in the community and be a bright light in the dark world. Without a vision, it's not going to work. And so in real estate B school we go through a 319013, a three year picture, a one year plan, 90 days at a time, 13 weeks make up a quarter. And we've got all the structure, all the tools and processes systems, the mindset training, the coaching, the implementation support for you to be able to do that. So if you're at a point where you're struggling, all I can offer you is a conversation with me about your business. Go to realestatebschool.com right now and we'll chat for 45 minutes. There's a bright orange banner right there on the top. We'll talk about your business, what it looks like today, what it's going to look like in the future, and what is holding you back. We'll talk to you then. Bye.