A vision is something you see or feel that is possible for you or others, yet it’s “quite a way” from being real.

Martin Luther King, Jr., had a vision. Visions can take years or decades to realize. For Martin Luther King, the vision was so clear and compelling that he was pulled forward to do his part. A goal, on the other hand, is something that you devise. A vision generally comes to you – you don’t invent or create it, because it’s already there. However, you do get better at feeling, and articulating it.

Goals, while still valuable, are generally less powerful than a clear vision. Goals require a number of push structures to keep you on track, focused, and working toward it. A vision requires almost none of that, so it’s less “costly,” demanding and uses up fewer resources.

Carpe diem,

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The Solopreneur (one-person business such as many REALTORS®) is a breed within a breed.  Fiercely independent, unconventional, non-traditional, and growing in numbers due to the economy and production-enhancing technology, we’re a huge presence in the small business arena. 

Unlike our counterparts at traditional companies who are governed by an employee handbook, we operate at our own risk with little in the way of protection and guidelines for our business and our personal well-being.

After years of working on our own, we’ve come up with what we feel are an important set of rights that all Solopreneur’s can recognize and appreciate. Maybe you’ll be surprised to learn that you have the right to do many things, such as:

• Name our businesses. While our business names can’t violate any state licensing laws or infringe on anyone else’s copyright or identity, there is no reason we can’t name our real estate business in a way that makes it sound like an international powerhouse instead of just little old us in our robes and slippers.
• Determine our own rates. Within the policy of your brokerage and state licensing laws, there is no rule that says we have to charge a specific rate, and there are several great resources for determining rates. Of course, our clients have a choice of vendors so we want to be competitive as far as pricing is concerned, but ultimately we have the right to find rates that works for our businesses.
• Set our own hours. One of the best things about working alone is the freedom to work when we’re at our best, even if that means working outside traditional business hours. One caveat: Your clients will need to know when they can reach you, and if your hours are consistently in conflict with the times they want to work with you, you may have difficulty retaining that business due to your lack of availability.
• Work where we choose. Only the needs of our work and clients mandate where we work. If we can, why not work by the pool, from our vacation homes, or the coffee shop on the corner? Nobody is suggesting that we conduct our business in a manner or place that’s inappropriate or impinges on the rights of others, but anything goes within reason. Many sales professionals work out of their cars and coffee shops, so if that works for you, do so without apology or guilt.
• Dress as we please. Naturally, if we’re going to be meeting a client or vendors, it is in our best interests to dress appropriately. But if we’re working alone in the privacy of our own homes and nobody will see us except the mail carrier, we can wear that raggedy old college sweatshirt and those scuffed up old slippers, if that’s how we work best.
• Pitch our business. We can go after the biggest companies in the world, if we desire, or the small company next door. Just because we’re working alone doesn’t mean that we’re restricted to pitching business to a certain size company.  All it takes is a little nerve and some great ideas.
• Create multiple income streams. Having more than one income stream is a great idea for the Solopreneur’s, especially if our regular work is subject to fluctuating seasonal or market cycles. Alternative revenue streams might include teaching (real estate) at the local community college, giving real estate related seminars, or selling an e-book through your web site.
• Barter our services and time. Bartering can be an excellent way to market our product and/or service without exchanging cash, as long as both parties are happy. The flexibility of bartering is something that’s particularly well suited for Solopreneur’s since we can negotiate on our own behalf.
• Negotiate in our own best interests. Nowhere is it written that we have to give up what we need to get business. We are responsible for protecting our business interests, so we need to know where we can draw the line in terms of what we are (and are not) willing to do.
• Refuse business and/or release a client. With only ourselves to please, we can let our instincts guide decisions about prospects and clients.  If we feel uncomfortable, distrusting or uneasy, we need not worry about stockholders, the boss, or anything other than our own gut feelings before we let an opportunity go.
• Expand or contract our service offerings. Cutting low performing services is just as valid as creating new services for our clients when the demand is there. Doing everything the same way forever is pointless if it doesn’t serve us as well as our clients.
• Ask for referrals. Asking for a referral is a way of reinforcing your relationships with your clients. It says, “Our relationship is important and I trust your judgment about others you know that may need my services.” Of course, you’ll want to thank the client for the referral and keep your client in the loop about what you’re doing for the referred prospect when appropriate.
• Look globally for clients. In today’s business environment, it may not make sense to confine your business to your own backyard, and since the Internet has made the world your neighborhood, there is no reason not to look for clients where they are, even if that is very far away.
• Run our businesses our way. For better or for worse, we choose all the policies, procedures, standards and practices (within the confines of the law) under which our businesses operate. If the last day of the week at your office is casual Friday (or Thursday, or Wednesday), so be it.
• Form alliances with other organizations. We choose our clients, so why not choose our professional alliance partners? Working with complementary non-competing businesses enhances the service we offer to our clients in that we have access to more expertise and resources through our alliance partners. (Consumers like one-stop shopping.)
• Participate in our professional community. Since 40% of the businesses in the country are run by Solopreneur’s, we’re not alone, so don’t let that keep you cowering in your home office. Get out there and participate. You’ll probably meet congenial colleagues, and possibly find some more business.
• Get the best financial, legal, and other professional services that we can afford. Even if we’re all one-person organizations, we can have whatever we want in terms of professional services, as long as we can pay for it.
• Limit our personal exposure. We’re certainly not suggesting anything illegal here, but we can (and should) limit personal liability and protect ourselves from nuisance lawsuits.
• To receive the same level of service and support from our vendors as any other customer. If you’re unhappy about the quality of service from one vendor and you suspect it is because your business is too small, find a vendor who will appreciate you.
• Ask for what we want. And the people or organizations we ask for something have the right to refuse to honor our requests, but that does not mean that we should not ask. After all, we might get exactly what we want if we just ask.
• Take as many vacations as we can afford. Why not? Vacations are good for you and your clients because you return to work refreshed and rested. Especially if your business is very demanding and there is little room for mistakes, regular vacations are a great idea. We know a dentist who closes her office one week a month for vacations, and her clients are delighted with her work, her service, and her great attitude. (And FYI, she makes a great living!)
• Close our business. We are in control of whether or not our businesses stay open or close, and nobody else. Our clients might miss us, but if for any reason we decide that we want out, that is our decision.

These are our basic rights as Solopreneur’s. You’ll notice that we do not have the right to things we might want, such as respect, clients, easy money, or the property (intellectual or otherwise) of other businesses. Those are things we must earn or negotiate for, but they are not ours by right.

Carpe diem,

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Your career in your real estate business is the contribution you make to your business and how you work within your broker’s company.  Use the following for a quick mid-year check on how you are doing -

• Are you designing your career or are you letting your circumstances do it by default?
• Are you well connected with those who can advance your business?
• Are you not afraid to get noticed and to shine?
• Do you understand your firm’s politics and flow with them rather than fighting them?
• Are you up to speed on the development of your industry?
• Are you respected as a model, productive, and contributing member of your office?
• Do you have a clear plan for your business?
• Do you look for ways to improve your company?
• Do you know what it takes to get ahead, and I do you do that honorably?
• Do you contribute to the positive culture of your firm?
• Do you know and support your firm’s mission, values, and goals?

Carpe diem,

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Every one of us need to learn the power of leverage.  It is essential if we are going to develop a profitable and consistent business that is saleable.   One of the key qualities of a saleable business is one that is system dependant not people dependant.  

We will be demonstrating the two key components in a business relationship, character and competence, in a calculated consistent manner over the course of the relationship.  We need to keep in mind that what we do after what we were expected to do will ultimately determine our success.  People are homeowners far longer than they are buyers or sellers.  Why not provide them value while they are homeowners to create loyalty?

Imagine for a moment, dictating how your business will produce and be able to count on the consistent income being generated by those people who like you, trust you and want to refer you.

Here is the proven program that will provide you a 15-40% yield (15-40 closed transactions per 100 people in the A-C categories).

Step #1 -

Identify all those people that you have a name, phone number and e-mail address for.

Please Remember!

•  The average person knows 120 people.

•  The average person knows 3-5 people who will buy or sell this year.

•  80% of people will find their next agent through personal referral.

Step #2 -

Make a qualifying call to each member of your Partner Program Database to receive permission to ongoing communication and to identify your supporters (call or e-mail me if you need the dialogs) – move those who qualify and who support you to your “Preferred Partner Program.”  Use the following categories:

“A” – People who have referred you in the past – regardless of how weak the referral was.

“B” – People who have the capacity to refer – look for people who either are in a service industry (doctor, attorney, manicurist, salesperson, etc.), belong to multiple social groups (church, scouts, little league, rotary, etc), or have Christmas Card lists of over 150 people.

“C” – People that know you, like you, and trust you

“D” – People that are out of your service area

Step #3 -

Implement a value-added monthly client newsletter for groups A-C. (Call our Marketing Department today!)

Step #4 -

Host a personal event three times a year for everyone.

Step #5 -

Implement a mail-merged irregular, but systematic, electronic communication system for everyone.

Step #6 -

Maintain consistent phone contact every month to you’re a list, quarterly to B list and 2x a year for C and 1x a year for D.

Step #7 -

Get a hand-written personal note in the mail within a few hours of all conversations, meetings, or referrals (add a small gift card for referrals).

Step #8 -

Track your numbers! Continually purge and update your database to increase your yield rate.  If you increase 26% per year you will double your business every 3 years.

Recommended Reading

Carpe diem,

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First, I believe that we all have or can find our own answers, but:

1. It may take a lifetime for a person to access these answers on his own.
2. If you are like me, you’d rather not wait.

Especially since there are experts out there who can accelerate this discovery process for you. You see, answers are often either hidden, covered up by layers of the past, or inaccessible because you don’t have the language you need to unlock them.

Enter: the Coach.

A Coach is an individual who has been trained in the area of advanced personal or business development. Because of his experience, background, and training, he can help you through the discovery process and point you in the right direction.

Wouldn’t you prefer to bring someone like this into your life to accelerate your development? To help you set more rewarding goals? To help to create a future that pulls you forward? To get you on track and focused in your business or professional life?

Today, it is okay to include many types of experts in your life. Why not a life or business expert?

Carpe diem,

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Do you struggle with names?  This has personally plagued me for years and is a constant struggle in a people business where we meet new potential clients on a daily basis.  However, I also know that there is no quicker way to impress someone than to remember their name, especially after a long time has gone by.

Here’s a tip from a memory master (and yes, I paid dearly for a seminar that I am boiling down to a 30 second email because I am all about, say it with me, helping you make more money, make it faster, and with less cost).  Here you go with the tip –

Use the SAVE method:

S – Say name 3 times when first talking to them

A – Ask a question about the name

V – Visualize a memory hook.  If their name is Lake, visualize them swimming in a lake

E – End the conversation with their name

You won’t believe how well this little tip works when we put it into play. 

Carpe diem,

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Session Description -

This eye-opening webinar will save you tens of thousands of dollars in your marketing budget! Learn the secrets the top marketing professionals know about how to position your business in line with today’s consumer centric market. Chris Pollinger will uncover the 22 Laws of Marketing and how they apply within the real estate industry today.

Join us to not only understand the “what” we need to be doing to be effective, but also the much deeper ”why,” as well as the all-important “how.”

Click on the Marketing Module button to check out this week’s Mastery Coaching Marketing Module.

Carpe diem,

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Sell the skills you have, not your service.  I see so many agents convey the great services they offer; only they fail to recognize most agents offer the same service.  Rather than sell your services, try selling “your skills.”  In an industry where being unique is very difficult, sometimes expensive and seldom achieved, I think selling your skills may be much easier.

Think about it.  What skills do you possess that “benefit” the customer/client?  Is it that your listings sell 25%  faster than the market average, your experience is more than the market average or the education you have achieved earning real estate designations? 

Perhaps it’s something as simple as you provide more information (Internet Marketing Strategy) to the seller than the average agent does.  Whatever your skills are, that’s what you emphasize and quit trying to demonstrate to consumers your “services” are superior.

Carpe diem,

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Your Simple Marketing Plan

When I’ve been invited to speak to a group of REALTORS® one of my first questions is “WHY” are you in the real estate business?  You may think it surprising, but more that 70% of the time, the answers I get are:

“I love homes.”

“I love helping people”

NEWS FLASH!  Ask any of the other business people in the nation!  The correct answer is:

TO MAKE MONEY!

It’s funny, many REALTORS® feel embarrassed to talk about MONEY.  The reason you work with charities is to HELP people.  The reason you buy Architectural Digest and go to Annual Home Shows is because you ‘love’ homes.

Sadly, many of the REALTORS® I meet are afraid to talk about money, especially commissions, because they don’t believe they provide enough value to justify what they earn.

Business is business.  Certainly, if you love what you do, it makes SUCCEEDING IN BUSINESS a lot easier!  If you want to make money in the real estate business, you need to move up from a real estate salesperson to a Real Estate Entrepreneur.  To SUCCEED as a Real Estate Entrepreneur, you MUST HAVE A MARKETING PLAN.

Use these questions to clarify your marketing objectives for your real estate business.

My Mission

• Why are you in business?
• What is your vision for a successful business?
• What are you big-picture objectives?

My Product and/or Service

• What product or service do you deliver?  Describe it.
• Do you have packages?  What are they?

My Ideal Client

• Who is your ideal customer? 
• Why do they need you?
• How can you identify your ideal client? 
• What behaviors, situations or circumstances are present for them to recognize a need for your services?
• What is the relationship they want from you?
• What do you have to do to be whom they want or need?

The Benefits to My Clients/Customers

• What are the benefits to your customers?
• Why would they want or need your service?  (Over another agent?)  Describe a scenario.
• What do your clients come away with when they choose you?

My Positioning

• Who are your competitors for your clients’ time and money? 
• What else could your ideal client spend his/her money on?
• How do you and your product or service compare? 
• Why would a customer choose you over your competitors?
• How are you different from your competition?
• How do others describe you and your service OR how do you want them to?
• What makes you special?

My Price

• How much do you charge?
• How much business do you need to get to maintain your business?
• What is your profit margin?
• What do you project in terms of income, expense and profit for the year?

   

My Promotion

• How do you get the word out?
• What 8-11 things can and will you do consistently to build your business?
• When will you do them?
• What marketing materials do you need?
• Do your materials look like who you are/want to be (consistent with your positioning)?

Carpe diem,

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Some Marketing Terms defined (Bottom-lined.):

Goal: Measurable end result (can be however you choose to measure your results, either in terms of sales volume, commission dollars (my favorite), number of new potential buyers and sellers in your pipeline, clients, etc.).

Strategy: The approach to achieving the goal, or the broad strokes outlining your plan of action to achieve a specific goal.  You may need to use more than one strategy to reach your goal. Here are some ideas if you’re using visibility strategies: ‘HD’ Tactics for Raising Your Sales.

Tactic: An action taken to support the strategy you have defined to achieve your goal.  You may need to use several tactics to support your strategy. Here are some that work well for small businesses: Marketing Tactics For Small Businesses

Tool: An implement used in the tactic.  You may need to use several tools to implement your tactical plan. Here are some suggestions: Top 10 Marketing Tools for Small Businesses

‘Sound Bite’: A short, concise statement that specifies both your ideal client as well as the solution you provide; often used as a response to the question: “What do you do?”

30-Second Follow-up: The follow-up statement you have prepared to respond to the “Oh, yeah? Tell me more!” exclamation that your fabulous ‘Sound Bite’ incites.

Ideal client: The particular segment of the population that, either by demographic, psychographic or situation, is most likely to both purchase and benefit from a relationship with you and your service.

Marketing Calendar: The list of attraction-related tasks or activities that you have committed to executing on a continuing basis, complete with development times and due dates noted. See the sample at the bottom of the page.

Script: Remarks prepared to help you find the most effective, comfortable and appropriate words when engaging in conversations that are new to you. For example, you might have a script to leave phone messages, as part of a sample session guide, or as a reminder for how to ask for the sale.

Group 100: A list of 100 professionals with whom you have a reciprocal referral agreement, and with whom you have met to ensure that you mutually understand the best or most ideal clients for referring to each other.

Carpe diem,

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