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Hedgehog Concept Adapted

By
Services for Real Estate Pros with Astonish Results

I recently finished reading “Good to Great” by Jim Collins. In his book he talks about the Hedgehog Concept which is the process of identifying a single organizing idea, a basic principle or concept that unifies and guides everything you do. In your business you must define your own hedgehog concept. In order to do that, consider these factors:

 

1. What can I be the best in the world at?

2. What am I passionate about?

3. What drives my economic engine (or) how do I maximize profit opportunities?

 

Your personal Hedgehog Concept is determined by the intersection of these three circles

 

Stop and think about it for a minute. Most of us spend more time working than we do anything else in our lives but we spend more time planning weekend events than we do writing a business plan. That’s human nature. Planning weekends is fun, writing business plans is more work.

 

Developing a hedgehog concept doesn’t sound very exciting but it should. Each of us possesses unique talents, desires, strengths, circles of influence, motivation and needs. The key to long term success is the ability to tap into and maximize them. Anyone can get a job writing loans and survive on 1 or 2 loans a month. That’s not what I’m talking about. I’m talking about laying the foundation for taking your pipeline or your business from Good to Great, brick by brick.

 

Ask yourself..

  • What segment of the market am I uniquely positioned to capitalize on?
  • How can I take advantage of this opportunity?
  • What resources are required?
  • Why am I doing this?
  • How is this consistent with my core values and guiding principles?

 

Once you find a way to align who you are with what you can be the best at, there will be no stopping you. Your work will become exciting again. You will look forward to hitting the ground running each and every day. Customers will respond positively to your enthusiasm and sense of purpose and your pipeline will quickly improve. After 60 days you should be able to produce more with less effort because you will be more focused and goal oriented. Then you can decide on how to take your business to the next level.

 

If Zig Ziglar were selling Hedgehog Concepts here’s what he would say:

Do you agree with me that if you spent some time identifying what you could be the best in the world at, what you are passionate about; along with a plan to maximize profit opportunities that you would make more money?” O.K.

Are you interested in making more money? O.K.

“When do you think it would be a good time to start making more money?” Great, let’s get started.

At Astonish Results we have a very simple Hedgehog Concept: Help mortgage professionals find, sell and keep more customers profitably. The key economic driver is to minimize the acquisition cost of a funded loan and maximize profit for our customers. We are passionate about it and we feel strongly that we can be the best in the world at it.

 

What’s your Hedgehog Concept?

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