KNOW WHEN TO LET GO

By
Education & Training with Performance Development Strategies

As a broker owner you must have adequate controls since you are the responsible party. There is, however, a delicate balance between control and empowerment.

Here is a problem that comes up all too often. A business owner or agency owner spends most of his or her time working IN the business and virtually no time working ON the business.

This is the result of a natural progress of a growing business.  When you started your business, you needed to do everything, or it did not get done. You worked through your time management issues as they came up.  Your business grows, and you simply can't get it all done. Time to hire someone in your office maybe.  Time to bring on some agents.

Now you are at the pinnacle of a growing business. At this point you are now not only the owner but also a manager and the leader.

When you hire a new employee is it very important that you are ready to devote time to train and empower. You must teach the mission and desired results. Remember, you want to take details off your plate. For example, don’t react in this way: When your new employee asks a question don’t respond by saying, “Don't worry, I'll take care of that. It's involved."

Get out of the way. Let go to grow. Learn to let go, train, and delegate with confidence.

Engage your employee from the very first day. Explain, train, encourage, and ask for input. Once you are certain that the employee understands encourage him or her to make decisions on his or her area. Encourage the input. Then monitor. But gradually let go. Learn to look at key measurements that indicate the employee is on track such as number of calls answered, complaints resolved, orders processed, customer feedback and other key areas related to business outcomes. Then you get out of the details.

Instead of watching the details and the minutia, keep your eye on the direction of your company and your overall results. Set up overarching monitors and measurements to measure the direction and success of your business. This measurement tool is called your DASHBOARD. Think of it as the dashboard on your car. You look at the dashboard on your car to make sure that everything is working under the hood. Likewise, a business DASHBOARD helps you make sure that your people are performing the activities related to positive business outcomes. When you see something wrong with your car dashboard you ask a repair garage to handle it. Likewise, when you see a key business measurement change you ask your employees why and ask how it will be corrected. You maintain control while not being controlling. You have more important things to do such as promoting the growth of your business.

 

Business Dashboard

Get out of the way. Get out of the details. Let go, let them drive and watch your stress level decrease and your business grow.  For a similar post on our web site see HOW MUCH CONTROL IS TOO MUCH?

Learn how you can maintain control while delegating with confidence

Contact us to learn more

or call 914-953-4458.

 

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Re-Blogged 6 times:

Re-Blogged By Re-Blogged At
  1. Barbara Todaro 11/05/2018 03:20 AM
  2. Fred Griffin 11/05/2018 09:08 AM
  3. Joyce Marsh, Daytona Beach Florida 11/05/2018 09:08 PM
  4. Joe Jackson 11/06/2018 07:31 AM
  5. Debbie Reynolds 11/11/2018 05:51 PM
  6. Gabe Sanders 11/16/2018 08:00 PM
Topic:
Real Estate Best Practices
Location:
New York Westchester County
Groups:
Coaching and Mentoring
Tags:
let go to grow
learn to delegate with confidence
create business dashboards

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Rainmaker
1,012,086
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

If you ever watch "The Profit" with Markus Lemonis you know that the undoing of many businesses is the result of the owner not being able to delegate.  A growing business depends on many, not just one.

Nov 06, 2018 06:01 AM #37
Rainmaker
1,649,683
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Kathy - empowering our team is a win win.

Lottie - only you would know that.  We all have those tendencies.

Dagny -  ha ok.  Confession time.

Laura - that is the best way to have freedom.

James - you are a shining leadership example!

Gabe - in your case it is a plane dashboard.

Margaret - I have seen and yes that it right.

Nov 06, 2018 10:18 AM #38
Rainmaker
2,631,888
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Grant... this is an important message for many aspects of life if you ask me! 

Nov 06, 2018 10:56 AM #39
Rainmaker
895,065
Ginger Harper
Coldwell Banker Sea Coast Advantage - Southport, NC
Your Southport~Oak Island Agent~Brunswick County!

WE work so hard to get them...and it really hurts when you have to and must let them GO!

Nov 06, 2018 11:07 AM #40
Rainmaker
1,649,683
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Nina - yes,  I totally agree with your statement.

Ginger - it can also free you up for other things.

Nov 06, 2018 11:17 AM #41
Ambassador
3,654,133
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Grant, terrific post.  So many of us, whether we are owners or agents, get bogged down "in the weeeds" as they say around here.  

Nov 08, 2018 11:55 AM #42
Rainmaker
320,875
Matthew Klinowski, PA
Downing-Frye - Naples, FL
Golf Community Real Estate Specialist

Good morning Grant. Great post about growing your business.  If you micromanage every detail you will limit your growth and potential.  If you teach your agents how to be independent, they will grow and your business will grow exponentially.

Nov 09, 2018 05:01 AM #43
Rainmaker
1,649,683
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Patricia - when we get into the weeds we can get lost.

Matthew - I you want growth yes, teach agents to be independent.

Nov 09, 2018 05:36 AM #44
Rainmaker
4,861,585
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Congratulations, Grant, on your feature recognition. 

This is excellent advice to share.

Nov 09, 2018 07:54 AM #45
Rainmaker
975,462
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Congratulations @Grant a a well deserved gold star.  Coming from HR, I know that people are our most important asset, training, coaching and empowerment should be the number one job of the manager. 

Nov 10, 2018 05:00 AM #46
Rainmaker
1,649,683
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Roy - and thank you for commenting.  Have a great weekend.

Sheri - that is for sure.  Job enlargement and control is a big retention factor.

Nov 11, 2018 09:19 AM #47
Ambassador
3,654,133
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Hi, Grant!  I included this post in today's "Last Week's Favorites on ActiveRain.

Nov 11, 2018 01:06 PM #48
Ambassador
3,908,378
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

This is a wise post, Grant. Good managers and business owners look after the whole business.

Nov 11, 2018 05:53 PM #49
Rainmaker
1,649,683
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Patricia - thank you.  I really appreciate that.

Debbie - thank you for re blogging.

Nov 12, 2018 05:09 AM #50
Rainmaker
395,764
Tom Bailey
Margaret Rudd & Associates Inc. - Oak Island, NC

Great post Grant. I can relate to this more than most. I ran my families Mack Truck dealership for the last 20 years we owned it. My father claimed to retire, but he could never bring himself to let go. He hung around just about everyday. The employes would complain to him about things they didn’t like, and I would have to justify my reasons for my decisions. This made for a toxic atmosphere. It was very hurtful to our company

Nov 12, 2018 05:55 AM #51
Ambassador
1,648,249
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Happy to see this Grant. Glad Patricia featured it in her group of favorites. Tom  (51)gives us a real life account as to the importance of being able to let go. 

Nov 12, 2018 08:05 AM #52
Rainmaker
1,649,683
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Tom - I see that so much when I work with family businesses.

Debb and Bernie - he sure does and this is very common.

Nov 14, 2018 06:26 AM #53
Rainmaker
541,270
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

I missed this Grant, until Patricia Kennedy highlighted it in her list of favorites. This text jumped off the pages at me: 

When you hire a new employee is it very important that you are ready to devote time to train and empower. You must teach the mission and desired results.

Thanks for giving us your insight into knowing when to let go.

Nov 14, 2018 07:49 AM #54
Rainmaker
928,664
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

You are so right.  Letting go and doling out responsibility is the best way to grow.  Kudos on your feature in Patricia's list of favorite posts of the week.

Nov 16, 2018 01:50 PM #55
Rainmaker
1,649,683
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Pat - thank you for reading.  Glad you saw it.

Jan - the only way the person grows and you get relieved.

Nov 17, 2018 05:46 AM #56
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