Businesses that succeed are always those that are aware of the critical numbers that drive success in their industry and specifically their business. From the top of the organization to the bottom, leadership, executive teams, department heads and each employee is focused on achieving the outcomes that produce the numbers that are required for success.
The results of a recent bank visit to one of our Gazelles coached clients should provide significance to the importance of producing visible quantification for performance in your business. As the bankers toured the business they noticed in each cubicle, charts on the walls that provided a red, yellow, green, and super green notation indicating performance levels for the specific numbers this person was to produce. In the break area prominent charts displayed the businesses performance in a similar fashion for the quarter and year to date goals and themes.
In addition, one room was designated as their situation room where the executive team and departments would meet to discuss weekly, monthly, and quarterly goals and assess progress and collaborate to solve issues and problems. By the end of the tour the bank officers were so impressed they felt they could provide a better loan package and improved rates to this business. They noted how focused the business was on the critical numbers for their business, and how each individual in the business was aware of the necessity to produce specific results in turn to help the business achieve its goals.
Are you making a purposeful effort to recruit new agents, or are you simply open to the idea and passively waiting for the right people to cross your path? Start this immediately by time blocking recruiting into your schedule, then set goals for calls made, conversations held, appointments set, appointments kept and new recruits signed. You should also separate your activity and results tracking into two categories: co-brokes and new agents.
Then, record your results for each on a pre-printed tracking form. Following this simple blueprint will ensure that you are doing your part up-front to successfully expand your agent roster. If you are a manager, make sure that you share your activity goals up front with your regional manager or broker, then schedule weekly or monthly follow-up meetings to review your results. Whomever you are using to hold yourself accountable, they must be someone who you respect and who will hold your feet to the fire if you miss your activity goals.
Retention While there are a lot of elements that go into agent retention, e. Start by knowing what activities your agents are doing to purposefully earn new business. Every agent will be different, but each one of them should have some defined activities designed to immediately create new listings and new sales. Do not be a pushover if their activity misses their goals; your agents need your guidance, and accountability only works if you reinforce the value of consistently making the efforts necessary to drive new sales.
It is equally valuable to both new and superstar agents, and this exercise should be used with every agent in your company regardless of their experience or volume.
Pearson's Law: "That which is measured improves. That which is measured and reported improves exponentially. When performance is measured and reported back, the rate of improvement accelerates.
It is possible that these quotes were inspired by Lord Kelvin who is frequently attributed the quote: "If you can not measure it, you can not improve it. It is not an exact logical match, but it certainly expresses a similar idea regarding the importance of empirical measurement. The first example of that quote from Thomas S Monson that I could find is directly preceded by the phrase A cardinal principle of industrial management teaches: , so it sounded like he felt it was a truth that was so widely known and accepted that it didn't need a specific citation.
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