To say that 2020 has been unpredictable is the understatement of the year — and it’s that still-lingering feeling of uncertainty that makes it even more difficult to predict what this next year will bring.
But what if I told you that you can create what you look forward to? By implementing the right mindset, strategies and systems, you’ll have these three following points to aspire to and keep working toward.
1. Increasing profitability
I recently wrote an article for Inman outlining the main 10 tips for team profitability, even in a recession. The biggest takeaway I hope everyone took from that article was the very first section, the idea of assessing cost versus investment.
In times of trouble or uncertainty, you will always want to jump right into a mindset of fear, which will make you want to cut absolutely every cost out of your budget, and your fear will rationalize your every decision.
In order to look forward to profitability in 2021, you’ll need to assess what a cost is and what an investment is, and ensure that you don’t cut every expense out of your budget.
As mentioned in the article, a cost is something that doesn’t create a return or add any significant value to you or your clients. It’s also not strategic. Investments, on the other hand, will always be strategic. Whether it’s through leads, returns or deals, an investment is a multiplier for your business.
2. Improving productivity
Coming out of 2020, it should be easy for all of us to become more productive. We’re all used to this “new normal” by now, and whether it means working from home or going into a socially distanced office, we can achieve productivity with our teams.
A lot of people think that if you pay agents more per transaction, they will make more money. In our experience — this is not true. Agents who have to do less of tedious parts of the process typically profit more and get more deals. This in turn makes them more productive. It also means they’ll have more time to spend with their families.
When you expand your business beyond yourself, you can deliver more value to the market and enjoy exponential returns year after year. The key is not how many agents you have or how much you pay per deal — it’s all about the efficiency of your team, systems and people.
3. Creating a path forward
As I’ve mentioned in this article, we all have a simple choice. We can use our focus and determination to plant and nurture seeds or keep willing ourselves to push through ceilings and obstacles.
I build my own stages that house our message, network and the results we’ve achieved. Point is, you don’t need to play in broken houses when you can build your own system that works for you.
Sometimes when we’re facing uncertainty or fear, we can be blind to certain aspects of our business because all we see are the worst case scenarios. However, if you align your team around opportunities and visualize where you’re going in the future, you’ll be able to move forward together with confidence.
Your team will either hit ceilings or plant seeds, but you can’t do both. If you’re looking at your restrictions and the reasons why you might fail, you’re going to be held back from any progress. However, if you take stock of those things and create opportunities for the future, you’ll propel yourself forward.