What is the rule of five? Well, the rule of five was something that author and speaker John Maxwell came up with.
And what John came up with was this idea that if you have a big task at hand, something you really gotta get done and it can seem overwhelming or just completely out of your reach, how do you make that happen? Despite what might seem like overwhelming odds?
Well, he used the rule of five.
And the rule of five is simply this:
Imagine that that goal is a tree in your backyard. And you have one tool that you can use to cut down that tree: an ax. And so you go outside and every morning you take that ax and you swing it as hard as you can, three times into that tree. And then you put the ax down, you go back inside, and you wait for the next day to come. And the next morning you do it again. And again, and again.
Now, we would all agree that eventually that tree's gonna fall down. No matter how big the tree, it's gonna topple...
I'm gonna give you some numbers that are just reality in our business that you should know. And these numbers are going to drive your success throughout your career — whether you like it or not.
Are you ready for these numbers? Here they are:
They may be slightly different for every person, but in general, across the country, here's what the numbers look like in our industry:
* For every 30 conversations you have, you'll average one closed transaction.
And I want you to remember this:
Almost every single transaction you will ever have in your career will be the result of a conversation you've had in the last two weeks. You want more closings? You're gonna have to have more conversations.
Here's another one:
* For every 10 sphere members you have in your database today, you should average one closing — assuming that you've made 20 to 50 contacts with them in the past year.
20 to 50 contacts will get you a 10 to 1 closing...
What is Q2?
Well, Q2 is your most valuable asset. And you might not even know it.
Your most valuable asset is your database, your sphere of influence, we know that.
But what's Q2 mean?
Q2 represents the quality and the quantity of your database. So let's look at those two issues and how they can impact your bottom line coming into the new year.
Let's start with the quantity. What does that mean? Well, if we know that for every 10 people in our database, we'll average one closed sale, knowing that quantity makes a big difference. In fact, when I talk to agents on a regular basis, and I ask, how many transactions did you close last year? And they say 10, 12, I'll say, how big is your database? Let me guess. It's probably 80 to 120 am I right? Most people will say, yeah, you're right on the money.
Because your database is a reflection of your performance. Smaller database, smaller performance. Larger database, larger...
This time of year, a lot of people start thinking about pivoting — making a fundamental change in their business strategy. That's a good idea, because if you want to have that 90 degree turn in your business, you need to think about what you can do to actually make that a reality.
Not just talk about it, but actually make it a reality.
I'm gonna give you five quick points that I've learned over the years that can really help you have a successful pivot in your business and make fundamental change happen for you.
1. Mental toughness
This is underrated, but how many of us have started new year's resolutions with the best of intentions, but then falling apart within 30 days? We’ve all been guilty of that (myself included).
So mental toughness, getting your mind, your body, your spirit in alignment with that decision and saying, I'm not just doing this today or tomorrow or next day or next week, I'm doing it for...
The GAP is the sudden realization that your pipeline is (or is nearly) dry. You have run out of escrows, listings, and active buyers. Your fuel tank indicator is flashing red and you still have miles to go before all of your bills are covered for the next month or quarter.
Why do agents have gaps in their income?
Inconsistent lead generation is the number one reason for a gap.
Almost all agents at some point in their career stop doing what made them successful in the first place. They stop making calls, sending letters, connecting on social media, and conducting networking meetings. They stop calling their best clients, delivering gifts, and touring homes daily. They stop attending office meetings, training events, and social mixers. They stop moving forward and soon their momentum slows and then stops altogether.
The difference between good agents and great agents is what they do next. When the gap strikes agents can naturally feel panicky, emotional, angry, or...
Have you ever thought to yourself – I just can’t do anymore! I’m at my limit!
But is that really true or have you instead placed a self imposed ceiling on your success? At times, in our changing market, it can certainly seem like we could not possible do any more. But this is a dangerous line of thinking. What you are really saying to yourself is that it is OK to push back from success. This psychological line in the sand can become a mental barrier that prevents you from reaching your true sales potential.
Consider the true story of a Roger Bannister. In 1952 while studying at Oxford University, Bannister had become the favorite to win the gold medal in Helsinki. He was such a favorite even the famous Duke of Edinburgh had arranged to watch the event. But during the first few minutes of the race Bannister was jostled, lost his footing, and was barely able to salvage a fourth place finish.
Roger returned to Oxford with a new goal, and a new passion, to break the...
Implement game changing lead generation strategies, grow your sphere of influence, improve your presentation skills, build systems, tap into follow up tools, learn time management strategies, and tap into your true potential.
This is your time to create the business and life you deserve!
✔ Take Control of Your Career!
✔ Manage Your Time Effectively!
✔ Attract Clients Instead of Chase Clients!
✔ Plug into Proven Systems!
✔ Tap Your True Potential!