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Quick Start Commercial Real Estate Formula – 21 Steps to Success
Do you want to know a secret? It’s easy to make a lot of money in commercial real estate – you don’t have to be that smart! You just have to know what to do and then do it.
So, as I sat on a plane flying to Dallas to take my daughter to college (SMU), I decided to come up with a QUICKSTART Commercial Real Estate Formula- 21 Steps to Success:
1. YOUR ATTITUDE: Attitude is easily your biggest key to success. If your attitude is not 100% do what it takes to change it – don’t discount this essential step. You get what you believe.
2. YOUR VISION: What kind of business do you want to own? Are you one of the adults? If you can’t see it, you can’t get it. You need to spend some time detailing where you plan to be in 1, 3 or even 10 years.
3. YOUR GOALS: Think about it, without goals what chance do you have of achieving them? Start with an income goal and then break it down into smaller goals to support your income goal.
4. YOUR TIME MANAGEMENT: Learn to block time, limit distractions and delegate as much as you can.
5. YOUR POWER OF PLANNING: Daily planning is not only important, it is also important for success. Review your tangible goals and commitments each morning, and then create a list of action steps to support them. Check out the action steps of making money first.
6. YOUR POWER OF JUDGMENT: Don’t get stuck in planning and forget about execution!
7. YOUR ROOF: Quality over quantity. Make sure it’s present and let it grow. Your database is the single most important thing when it comes to being an asset that supports the growth and success of your business.
8. YOUR WORK FOR A NICHE: Specialize in a product type, geographic area, or both.
9. YOUR NETWORKING: Get involved regularly in trade association meetings, advocacy groups, leadership groups, wherever your ideal client hangs out.
10. YOUR READING PROFITS: Read everything — trade magazines, newspapers, niche newsletters, anything and everything related to your business.
11. YOUR SALES TOOLS: Make a list of the sales tools you need and then get them.
12. YOUR SALES SKILLS: Similarly, make a list of the sales skills you think you need and then learn them.
13. YOUR PREPARATION: The opposite of preparation is failure.
14. WANTS YOU TO BE IN MASSIVE ACTIVITY: Important — successful people take more action steps
daily — many more!
15. YOUR MARKETING SKILLS: I realized that good marketing skills replace good sales skills when it comes to success. Invest in some good marketing skills — you’ll thank me.
16. YOUR LINE OF PERSPECTIVE: Always be looking. Choose three search activities per week to keep your pipeline full. The idea is to prevent the “feast or famine” cycle and be consistent with the search even when you think you don’t have the time or the need.
17. YOUR PROBLEM SOLVING SKILLS: Did you know that prospects will pay almost anything to solve their problems? Learn all about the problems your ideal customers experience and become a master at solving them.
18. YOUR LISTENING SKILLS: 20% talk, 80% listen. Know what questions to ask.
19. YOUR FOLLOW-UP: Most clients dismiss a commercial real estate professional for lack of follow-up. Don’t let this be you. Remember, plan every day and include follow-up. And report good, bad or indifferent; it’s a REALLY REASONABLE connection.
20. YOUR COMMITMENT: Decide whether you are interested in success or committed to success because unless you are committed you won’t be. There are many things to be interested in but only a few things to depend on.
21. YOUR SELF-DISCIPLINE: Your determination and ability to achieve your goals and live up to your commitments.
Well there you have it, 21 steps. Good luck and let me know if I can be of service with any of the above.
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