IF YOU WANT YOUR REAL ESTATE BUSINESS TO GROW LET GO

 

Are you afraid to let go and is this hurting your business growth? To be totally clear I am not talking about compliance and standards.  I am talking about telling how to do everything rather than telling them what needs to be done. Why do you want to be a control freak when there is a much easier and more productive way?

This problem could have had its roots in the founding of the business when owners and principals were very involved in the production of business. The owner must spend most of the time working in the business to make sure that the sale is closed, the money gets collected, and the bills get paid. That is very important for business survival.

There comes a time when the business grows, and one person can’t get it all done. Now you, the owner, hire someone.

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

But beware! You hire an employee but continue to stay totally involved in the business. The new employee asks a question, 'don't worry, I'll take care of that. It's involved" is the answer.

Before long you might feel that the employee is not working out because you have to do everything. What went wrong?

The owner is still working IN the business. He or she believes that the person hired knows what needs to be done and is expected to do so. Besides the owner is still too busy working on the minutia of the business details.   The owner must learn to let go, train, and delegate with confidence.

If you are that business owner here is how to fix it. 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 is 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 but you are not controlling. You have more important things to do such as promoting the growth of your business.

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 ARE YOU AFRAID TO LET GO?

Are you ready to let go so that you can grow?

Contact us to learn more

or call 914-953-4458.

 

 

Business Coach - Strategic Plans - Sales and Marketing Coach

Grant Schneider - Leadership and Business Coach Creating Successful Business Outcomes

President Performance Development Strategies

- Business Coach

- Business Performance and Strategic Business Plans 

- Sales and Marketing Coach

- Organizational Effectiveness

- Time Effectiveness and Organization

914-953-4458, Armonk NY 10504 grant@pdstrategies.com

Visit my website www.pdstrategies.com for information on how you can obtain quantum leaps in your business performance.

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