Do You Know Your Money Shot?
The greatest challenge facing everyone on a daily basis involves the choices that are made relating to what activities to pick, or in other words, how to spend their time each day. Unfortunately, more times than not, the choices we make are severely deficient. In both your business and personal life, the critical question becomes,
“How should I spend my time today?”
In the real estate business, answering this question correctly can mea
n a very satisfying career earning hundreds of thousands of dollars. It’s most important to identify those activities that will get you to your money and to accomplish those activities before getting hung up on the 80% activities that will lead to mediocre success. Listed below are the questions that can be used as a guide to track your performance at the end of each day.
- “Did I have any closings today?” Closings may be few and far between, but they are the end result and financial reward for all of our efforts. Train your brain to become obsessed with closings.
- “Did I write any contracts or listing agreements today?” Once again, contracts might not come together every day. Trick your sub-conscience into thinking they should. If you don’t write contracts, you won’t have any closings.
- “Did I have any appointments today with buyers or sellers?” Ok, it’s nearly impossible to even prepare for your meetings if you have them every day. But once again, if you don’t have appointments, you won’t write contracts, you won’t have any closings and you won’t make any money.
- “What did I do today to get appointments with qualified buyers or sellers?” You may not be able to have closings, new contracts or even appointments every day, but if you don’t, you darn well better be prospecting every day, or don’t kid yourself, just go home or go to the beach.
The above questions are the only important ones. Every other business activity is of no benefit if you’re not moving towards making money. The other thing to keep in mind is that habits are formed through spaced-repetition. If you’re “not prospecting” every day, you will eventually master the art of “not prospecting”. Successfully “not prospecting” will allow you to be very successful at being mediocre. We’re pretty sure that people in real estate don’t start their careers by telling themselves: “Someday, if I work really hard, I can realize my dream of being mediocre.” It’s your life. It’s your choice.