In a shifting real estate market, the guidance and expertise that Inman imparts are never more valuable. Whether at our events, or with our daily news coverage and how-to journalism, we’re here to help you build your business, adopt the right tools — and make money. Join us in person in Las Vegas at Connect, and utilize your Select subscription for all the information you need to make the right decisions. When the waters get choppy, trust Inman to help you navigate.
Have you found you are a big fish in a small pond? Are you bumping your head on an invisible ceiling? Do you feel stuck, working harder and harder to accomplish less?
If so, you are running into a very familiar problem for entrepreneurs — the dreaded plateau.
For most brokers or team leads, the larger the team grows, the more of a prison it becomes. You see this when you find the leader spending a bulk of time putting out daily fires or managing HR issues.
What’s not getting done is the important stuff. At this stage, the leader becomes an operation manager or administrative assistant. This is not just flustering. It is also very limiting.
The bad news? What got you to where you are is not what is going to get you to where you need to be.
The good news? It was far harder to get to where you are now than it will be to develop the skills to get to the next level.
The secret is to shift from the person doing everything to the person leading everything. There is an old adage that rings true right now: If you want to go fast, go alone. If you want to go far, go with others.
Here are a few tips to help you break through a plateau and get back on track.
Leveraging your team gives you much-needed stability in changing markets. The biggest challenge to effective delegation? Get over yourself. Yes, you can usually do it better or faster at first.
But once you train the staff, then you can focus on higher-level activities. Your growth is in growing your population and per-person productivity. Our business rises and falls on transactions.
When leveraging, accountability is key, both with yourself and with others. Keep it simple. Focus on the leading indicators. Those things will drive the greatest amount of growth.
Ask yourself, “What is the one thing this person does that leads to more transactions?” That answer is your focus. If you draw a blank on that question, redefine the person’s role.