A real estate agent scaled from 27 transactions in 2007 to over 400 by 2014, working just 42 days that year. The shift came from hiring agents and admins, building systems, and spending 60-70% of time on entrepreneurial work instead of closing deals himself. By 2012, he personally closed only 1 of 248 transactions.
Questions this video answers
27 transactions
44 transactions
Fourth quarter of 2009
58 transactions (speaker personally did ~55)
300 transactions
In your business, what key systems would you need to have in place so that you can actually realize that vision of tripling the business and taking, cutting your hours in half and you know, 5xing your income. That is entirely doable, but not if you stay in the technical work. So that's where the E myth comes in, is that we claim to be entrepreneurs, but we're not spending any time as the manager or anytime as the entrepreneur. For me and my journey, I went from those 27 transactions in 2007 in my first 10 months to 44 transactions part time administrator in 2008, 2009 I hired my first buyer agent in the fourth quarter of that, that year we did 58 transactions. I did 55 of them. So about 95% of the production of the team. But then the vision started to take hold. My vision was to triple the business in, yeah, in, in a two year period. I probably had a three year vision at that point to I think my three year vision was to get to 300 transactions in three years. We got to 248 and to be out of production. So I went from 58 transactions to 118 with a few buyer agents, to 178 with a couple buyer agents, additional buyer agents and one more admin to 248 in 2012. And of the 248 transactions, I closed one single transaction. And so that was my vision realized. And I was only able to achieve the vision because I spent more time than the average real estate agent or real estate team leader in this entrepreneurial sort of mindset where I would carve out time in my calendar to define the business and focus on closing the gap between where it was today and where I wanted it to be in the future. I also spent time as the manager focusing on achieving results through people in systems. How can I add systems that gave me more leverage and got me out of a piece of, you know, something that I didn't want to do. How could I get down to only a few things that I did for that business? Right. Maybe, you know, create content for our recruiting blog or create content that went out for our clients for life program. Like there were very few things in 2012, 13 and 14. We went from 248 transactions to 312 to over 400 transactions in 2014. And that year I worked 42 days. The only work I did in that year and ever since then has been the work of the entrepreneur, let's say 70% entrepreneurial, 20% probably 60% entrepreneurial thinking about the future and bridging the gap. 30% manager. Cause I still get involved in, in, in, you know, achieving results through people in Systems. So about 30% and only 10% technical work. Sometimes I'll catch myself kind of going into the technical work in either real estate B school or in my real estate team. And you're always going to have that propensity to want to dive into the weeds of the business because there's satisfaction in doing the thing that you were really good at. Tom. When the business was in its fledgling stages and it was just starting to ramp up.
