I work hard and I work "SMART". As a former family therapist, I think of my business as I thought of the treatment process and success planning in therapy. Our plans and daily conduct must by SMART.
1. Specific - A written plan, a written focus, a written mission, and a written journal of past activities is crucial to create a business system. I have met many Realtors that are not interested in building a business. That's unfortunate. They could multiply their efforts many times over by doing so. We must have a plan in order to work a plan. A written plan mitigates the shifting, impulsive nature of daily business conduct.
2. Measured or Meaningful - The ability to measure the effectiveness of our efforts is fundamental to building a successful business. If I have a target of mailing 5 hand-written notes per week, at least 90% of the time, I can measure this and track my discipline. If I want to increase buyer referrals by 1 per month via networking, at least 80% of the time, I can measure this goal. Meaningful refers to choosing behaviors and habits that build my business rather than spin my wheels or waste my time. Acting deliberately and forwardly is a discipline to develop. It is easy, easy, easy to get off track in fun, interesting, urgent, or lazy activities.
3. Achievable - The tendency may be to set the bar too low or too high. If we set the bar too low, we will underachieve. However, if we set the bar too high, we will burn out and get discouraged quickly. If you find that your goals are too high, be willing to adjust them down. Finding the right balance in each area of goals is a work in progress. Make sure you are in the middle to middle-high range.
4. Realistic or Referral-oriented - Thinking realistically is about pragmatism and rational thought. If there are far fewer buyers and sellers, your numbers will be down. However, you can diversify or improve your skill set to offset that. Expecting the same results in a competitive market without doing the necessary work or education is irrational. Do someting different. Do something novel. Try something creative. Referral-oriented regards making your business activities to include a referral-generating component. Do all of your real estate related activities involve a reach for referrals. Are you generating enough referrals? Do you ask for business in every area of your life?
5. Time-restricted - Put appropriate pressure on yourself? Do you push yourself? Do you have an accountability partner? Do you review your activities and habits often? Put a time limit on your goals.
Great points! It's important to do both: Work HARD and SMART! One of the best ways I've worked smarter is to focus on my referrals. That is where 70+% of my business comes from and it makes sense to focus on cultivating referrals from happy clients!