What do you do if your team is struggling to achieve their goals in a competitive market?

Specific goals provide clarity and focus, helping your team understand exactly what is expected. Measurable goals allow you to track progress and determine success. Achievable goals are realistic and within reach, considering your team's capabilities and resources. Relevant goals align with your overall business objectives and contribute to your success in the market. Time-bound goals have a defined timeline, providing a sense of urgency and accountability. If your goals seem out of reach, breaking them down into smaller, manageable milestones can provide your team with a sense of progress and motivation. This approach allows your team to see tangible results along the way, boosting morale and maintaining momentum.

If your team is struggling to achieve their goals, take a step back and reassess your approach. Are your goals realistic? Do they align with the current market conditions? Remember that the market is cyclical and influenced by various external factors. You might need to adjust your objectives to reflect these realities, focusing on more achievable, short-term wins that contribute to long-term success. Additionally, consider your strengths and unique value propositions that can help you stand out in the market. By understanding what you do best and how you can add the most value to clients, you can tailor your goals and efforts to areas where you have a competitive advantage, improving your chances of achieving the goals.

In my opinion it is worth to spend more time on Budget Planning to avoid later goals reassession. Of course even in case of the best planning you might find yourself in a challenging situation due to macro Economy. Try than something out of your traditional box - e.g. in 2008 my Team / Company used to focus on Automotive which went down - so we have succesfully re - targeted our efforts toward other Consumer Good industries / Clients

In my experience, we reassess & evaluate what we are doing compared to our competitors & analyze are weaknesses & work on strengthening them!

Marketing Magic Mixer: Transform marketing strategy discussions into a "Marketing Magic Mixer" where creativity and imagination take center stage. Host themed brainstorming sessions, creative workshops, or even a 'Shark Tank'-style pitch competition where team members present their innovative marketing ideas. Encourage out-of-the-box thinking and experimentation to discover unique approaches that capture attention and set your team apart.

One thing I do that works is bring ing my teams together. With such a vast region I encourage face time through teams meetings and contact between team members. This has been very helpful in retention and motivation.

In a competitive market, leveraging data is key to overcoming challenges in achieving goals. Utilizing data analytics to identify market trends, understand customer behaviors, pinpoint discrepancies in strategy, and find potential opportunities can guide us in making informed decisions. Predictive analytics enable us to anticipate market trends, allowing for proactive strategy shifts towards sectors showing resilience or growth. Implementing technology for enhanced data collection and analysis ensures our decisions are backed by real-time insights, significantly improving our response to market dynamics. Ultimately, you can identify areas to differentiate from the competition and effectively navigate the complexities of the CRE market.

In my experience using powerful data coupled with market knowledge will lead to success even in a tight market. Knowing not only current market activity but also knowing the data trend for the future is imperative.

When circumstance get more challenging, you have to pivot and implement new strategies to address them. Being adaptable in order to overcome new obstacles will keep you growing and thriving.

Focus on Community Engagement: Build strong relationships within your local community by participating in events, sponsoring local initiatives, or volunteering. Being an active member of the community not only enhances your reputation but also helps you understand the needs and preferences of your target audience. Implement Sustainable Practices: Sustainability is becoming increasingly important in real estate. Incorporate eco-friendly features into your properties, such as energy-efficient appliances, solar panels, or green building materials. Highlighting these sustainable features can attract environmentally-conscious buyers and investors.