Double Your Income With This One Skill

Real estate agents are CEOs of their own enterprises, yet operate with an employee mindset. And who could blame them? Almost every agent was an employee in their prior professional life. Employees are given goals which are set by management or ownership. As professional salespeople, we are trained how to sell, yet are untrained in business planning. Brian Tracy calls setting goals and making plans for their achievement “the Master Skill”. Without clear, specific, written goals, you may feel busy, but, in fact, you may be spending hours every day on unproductive activities.

Acquiring this one skill could double your income in a short period of time.

There are three emotional benefits and three structural benefits of reaching goals. The first emotional benefit is joy. The achievement of long-held but unachieved goals is very satisfying and even joyous. It’s a check-that-off-the-list emotional charge. The second benefit is pride, a pride that comes from those accomplishments and moving forward. The third is motivation. When one achieves a goal, it whets the appetite for more. This organic drive keeps our spirits up.

The first structural benefit is increased organization. Having written goals presumes one has taken the time to write goals and create plans for their achievement. In this process, the most significant items are identified and prioritized. At the same time, unessential things are cast aside.

The second is prioritized tasks. Tasks are not equal. Some have to be completed now while others can be completed later. There is a sequence which must be followed. For example, we all know that, in building a house, pouring the foundation comes before framing the roof.

The third is managed intentions. Brian Tracy said, “We become what we think about most of the time.” In igniting the fuel of dreams and goals, we dramatically change our approach to life. Now, every act, every decision, must answer the question, “Will it move me towards my goals?” Consequently, we become a better decision maker as we choose to do more of those things that are productive, and minimize doing those activities which are not.

The power of dreams and goals is demonstrated in this story. Mark H. McCormack, in his book, What They Don’t Teach You At Harvard Business School: Notes from a Street-Smart Executive, describes a 1979 study of the students in the Harvard MBA program. The survey asked, “Have you set clear, written goals for your future and made plans to accomplish them?”

Three percent of the students had written goals and plans. Thirteen percent had goals, but they were not written. Eighty four percent had no specific goals at all (other than to enjoy the summer vacation).

Ten years later, the members of the class were interviewed again, and the findings were stunning.

The 13% of the class who had unwritten goals were earning, on average, twice as much as the 84% who had no goals at all. But the 3% who had written goals and plans were earning, on average, ten times as much as the other 97% combined.

It’s something to think about.

This correlates with my own informal survey. One day at my old office, I asked twenty colleagues if they had a business plan. Several were proud to exclaim that, yes, they had plans, but in their heads. Some were honest, albeit a bit embarrassed, to admit they did not have one. Only one agent said he had a written plan. That’s 5%.

Here’s a simple 5-step method for goal setting.

One, think about your goals. Visualize your goals. You already do this, but make it deliberate. Set aside an hour of uninterrupted time. Grab some writing materials, silence the phone, and pour a cup of coffee. Think and visualize broadly about the five areas of life: business, finance, personal, family and faith. Then take step two. Write everything down. That is, think on paper: just write.

Step three is to create plans for each goal. Review your notes and organize the statements into the aforementioned five areas of life. Of course, pay particular attention to the business area, as this is where the income is created to fund your dreams.

Next, share your goals with a friend or trusted advisor. Your words are creative. That is, you are endeavoring to create the outcome. A trusted friend or advisor will unconditionally encourage and support you, and keep you accountable.

Lastly, update your friend on your progress frequently. Weekly is best. As employees, the weekly sales meeting with the boss and the fear of being fired kept us productive. But, as solo-preneurs, who keeps us accountable? That’s where a trusted friend or advisor comes in.

As a solo-CEO you will get farther with a written business plan. You’ll accomplish more, you’ll earn more, you’ll be more motivated and energized, and you’ll make your family proud. After all, would you take a road trip across the continent without a road map? Start today to write down your dreams and plans. There is much power in them.

#therelentlessagent #onlyatnexusone #millionairemind #motivation

Andrew W. Chong is Co-Owner, Head Instructor and Broker at Nexus One Properties, a residential brokerage located in Katy, Texas. He is a TREC certified instructor. His other certifications include Accredited Buyer Representative, Certified International Property Specialist, Accredited Luxury Home Specialist, and Buffini And Company Certified Mentor. He is the author of the 3-hour CE course, Selling To The Affluent.