DO YOU OWN THE BUSINESS OR DOES IT OWN YOU?

By
Education & Training with Performance Development Strategies

Do you have trouble unplugging when you go away or are you always getting calls?   If your business cannot properly function when you are not there, then you have a business that owns you rather than the other way around.

There is nothing wrong with doing everything yourself if that is your business plan.  But if you want a business that is sustainable and if you want to take your business to the next level you need to have systems in place that are easily followed by others.

Does your business survive due to external dynamics and timing but will become stagnant when you are not there? In this case you might feel like you are a hamster on a wheel. There is a lack of entrepreneurial leadership.

As an example, in the restaurant industry there are numerous great cooks and chefs that feel that because they know how to create a great meal. They decide to open their own restaurant. The restaurant might open and have sales but the owner might be so consumed with the food details that he might neglect other parts of the business. In most cases the business stops when the owner stops.

Likewise, if you want to build a real estate agency you will need to provide leadership and development to your team. You cannot expect new agents to hang their shingles with you and say you have an organization.

There are a few points made in the book E-Myth. I will highlight them below because I believe that those businesses owners that wanted their businesses to continue when they were absent followed these examples.

  1. You need a vision for your business. How do you look when you are successful? What is the future of your business five to ten years from now rather than what you are doing today.
  2. You need to know your customers now and in the future. What is your unique value proposition; what sets you apart from your competition? How do you get customers?
  3. You need to know how the business works rather than work done in the business. What processes and procedures are in place to facilitate the smooth operation of the business when the owner is not present?
  4. You need to know how to generate sustainable profits rather than how to make sales.
  5. You need to know how to structure the business to meet customer needs.   You must understand how to build loyal customers.
  6. You must know how to hire, motivate, and retain the best people.
  7. Do you know how to create a business that works when you are not there.

 

Great Leadership

The real secret is learning how to become an entrepreneurial leader with vision and achievable goals. Leadership is paramount to you personally and to your team. As an entrepreneurial leader you will look at the forest instead of the trees, you will work ON your business rather than IN your business, and you will become the inspiration for your business.  For a similar post on our web site see DO YOU HAVE A BUSINESS OR A HOBBY?

Are you ready for a plan that can be executed by your team?

Contact us to learn more

or call 914-953-4458.

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Roy Kelley 07/07/2019 01:00 AM
Topic:
ActiveRain Community
Location:
New York Westchester County
Groups:
Coaching and Mentoring
Tags:
strategic business planning in armonk ny
taking your westchester ny business to the next level
delegation with confidence in armonk ny

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Ambassador
3,802,729
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Grant- I just left a Facebook page of a local business to see if they were going to reopen. The owner had just received glowing reviews from Nextdoor and Yelp and Larry and I had just discovered this wonderful place when it closed a few days later. The sign said there was a personal family matter and they would reopen but they have been closed since before Memorial Day. I feel so sorry for her and wish that there had been someone to try to keep it open for her. 

Jun 17, 2019 04:54 PM #13
Rainmaker
2,852,163
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Grant.

No sir, I have in place several people that can take over when I'm gone.  Trouble is, I hardly ever get away

Jun 18, 2019 02:07 AM #14
Rainmaker
1,868,414
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Roy - thank you for your support.

Roy - once in a while that is certain to happen.

Kathy - what a shame but that is a good example of a business that owns them.

James - I think it is time for you to take a vacation!

Jun 18, 2019 03:23 AM #15
Ambassador
2,079,419
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

You certainly make some excellent points, Grant. Another great, informative post.

Jun 18, 2019 04:00 AM #16
Rainmaker
1,868,414
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Barbara Jo - thank you for that.  Appreciate it.

Jun 18, 2019 12:22 PM #17
Rainmaker
1,172,171
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Grant Schneider - These are all great points in making a business successful. As a business owner, you need to know how to delegate authority and keep all the balls in the air. 

Jun 18, 2019 01:06 PM #18
Rainmaker
3,186,030
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Grant,  I totally get it ...I was in the Military and being a Ranger it was always a TEAM concept and we had to rely and trust the other members of the TEAM that they would carry  out the mission that was assigned to them perfectly... keep in mind we were all cross trained to do each others job..... if one did not pull his weight he was replaced.... simple as that.... when I became a Realtor, I chose to be a one man operation. If I wanted to I could have had a Team or be member of a Team I chose not to:)Endre

Jun 18, 2019 07:20 PM #19
Ambassador
3,935,860
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Darn, Grant, where is that Gold Star? It is so deserving.

There are lots of excellent points in your post, and the E-Myth is well worth reading. Gerber is on target in so many ways!

Jeff

Jun 18, 2019 09:11 PM #20
Rainmaker
295,581
Dave Rosenmarkle
Highland Realty - Arlington, VA
32 years of providing fully satisfying service!

Grant, lots of really great points, even for us sole practitioners. I think it's important to decide what level of activity is desired and scale efforts, resources and time accordingly. I thoroughly enjoy being on my own, do not miss late night panic calls from agents and will never miss all of the broker supervisory requirements. Peace reigns....

Jun 19, 2019 04:20 AM #21
Rainmaker
440,887
Scott Seaton Jr. Bourbonnais Kankakee IL Home Inspector
SLS Home Inspections-Bradley Bourbonnais Kankakee Manteno - Bourbonnais, IL
The Home Inspector With a Heart!

E-myth, excellent book, read it more than once. Still working on fully implementing, but I'm getting there. 

Jun 19, 2019 05:16 AM #22
Rainmaker
1,518,292
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Ashburn, VA
Alexandria Virginia Homes For Sale

Grant, I think you make an important point that there is no right or wrong. It all comes down to what we want from our business. There isn't a day I don't work so I have to admit my business owns me but, I've finally gotten to the point that I'm willing to go away knowing I may lose some business and that is a freeing feeling. 

Jun 19, 2019 05:17 AM #23
Rainmaker
501,027
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

A business with just one employee--me--yes, sometimes the business owns me. If I go out of town and have someone cover for me--I have to pay them to do my job.  That's the way it is, I've learned to live with it

Jun 19, 2019 12:48 PM #24
Rainmaker
1,521,233
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

My business is just me. If I don't work, it doesn't work.

Jun 19, 2019 01:48 PM #25
Rainmaker
397,662
John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Grant, I think it is hard for many agents to face the question you asked.

I think the point is that if you are controlled by your business you are not taking the best care of yourself. So when we physically fail, the business is impacted.

There are, as you state, systems that we need to have in place to help us. I see the need to have others who can step in when we step out: vacation, a breather day, an emergency.

Thanks for your post.

Jun 20, 2019 05:37 AM #26
Rainmaker
558,091
Maria Gilda Racelis
Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington - Manchester, CT
Home Ownership is w/in Reach. We Make it Happen!

Hi Grant... I am a one-woman brokerage. I am happy with how it operates. 

I do notice though that delegating duties and responsibilities is one of the business owners hurdles.

Excellent post!

Jun 22, 2019 04:26 AM #27
Rainmaker
1,868,414
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Endre - if you are going to have people it has to be TEAM but sometimes people choose at a point to be solo.  We have a sub group of people at the Business Council of Westchester called Solopreneurs.

Jeff - Gerber is spot on.  We recommend that book to our growing entrepreneurs.

Dave Rosenmarkle - I hear you.  Sometimes you are at a point where you want ot chill out.  Leadership carries responsibility.

Scott Seaton Jr. Bourbonnais Kankakee IL Home Inspector - yes, implementing is a work in progress.

Amanda - I have followed your progress and see how you have decided what is right at what time.

Mary - that is a good arrangement, pay when you need.

Marte - and I am sure it works for you.

John - even as a solo you can put systems in place.

Maria - delegating can be a hurdle but being solo is ok if you understand how to do it.

Jun 22, 2019 07:03 AM #28
Rainmaker
1,868,414
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Sheri -  people don't have to implement all the point.  Some will help too.

Jun 22, 2019 07:05 AM #29
Rainmaker
3,210,769
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

I have to chuckle...create business when you are not there...ask any agent what happens when they leave town...best cure for MORE business !

Jul 07, 2019 02:52 AM #30
Rainmaker
4,905,355
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Grant Schneider no one does my marketing except me....however, my marketing has a shelf life and that allows me to have freedom when I need it....

Jul 07, 2019 04:58 AM #31
Rainmaker
1,868,414
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Sally and David - yes, that always seems to happen.

Barbara - that is a very good point.

Jul 07, 2019 05:57 AM #32
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