Tom Ferry’s Top Business Processes That'll Make Your Business Scalable from Quarter to Quarter

Mar 27, 2019 10:53:16 AM

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Q1 is coming to a close fast and it's time that we start looking back on 2019 so far. What are you doing differently this year versus last year? Are you hitting your goals? Are those goals clear and do you have a plan to accomplish them?

These are some of the questions Tom wants you to ask yourself during this week's show because having goals without a plan to get there is like a car with no gas and lots of destinations you want to reach.

This week Tom goes through multiple processes in assessing your previous quarter that'll help you create a repeatable and scalable business model.

 

1. Assessing Your Most Important Goals

How many transactions did you want to do? How much volume? How much gross commission income? Assessing your goals each quarter gives you a quantitative insight into what you want to accomplish versus what you've actually done so far. Easy, right?

2. Measure Those Goals Against Your Current Numbers

As I just said, your goals are there to give you an insight into your progress so far. Tom urges his viewers to remember that math is the foundation of the real estate business.

"If the formula says that every fifty people I talk to I will make a sale and you only talk to 29, you should only be mad at one person. You."

In order to reach your goals, you need a plan and it needs actionable numbers:

How many conversations are you having? vs. How many did you need to have?

How many appointments are you scheduling? vs. How many did you need to schedule?

Assess all of your numbers. How much you spent on your business, where you are at in pending transactions, etc. Juxtapose everything against your goals.

Hold yourself accountable.

3. Assess Your Practices

Now that you've run the numbers and you know where you are at, it's time to look at how you got there in the first place. What did you do this quarter that led to your successes and/or shortcomings?

Once you make an honest assessment of what you've done, finally you can look at what needs to improve, because the goal is scalability, not stagnation.

Tom Ferry runs through 13 specific processes that'll give you the growth you are looking for and I've taken and summed up the large ideas that he covers. If you want the full in-depth rundown of these processes, be sure to watch his video above and don't forget to keep up with the Tom Ferry blog each week.

Edward Berenbaum

Written by Edward Berenbaum

A 1997 graduate of Penn State University, Eddie moved to the DC area immediately after college to begin his career in real estate. Working for Richmond American Homes from 1997 through May of 2001 as a top producing New Homes Sales Agent and Divisional Sales Manager, Eddie discovered two important things: he loved real estate and the market was ripe for innovation. After taking time off to backpack around the world, Eddie returned to the DC area and co-founded Redwood Realty. Through aggressive marketing, hard work and the help of two extremely understanding business partners, CENTURY 21 Redwood Realty has grown many times. Eddie has taken his role in handling the growth and the marketing of the business extremely seriously, creating unsurpassed online and offline marketing for our agents, incorporating cutting-edge technology at every turn, and always looking for more opportunities to grow. His insatiable quest for knowledge and innovation is a key driving force behind our company.

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