How to Break Through a Plateau in Your Real Estate Business
Plateaus. We have all been there whether it is in our personal life or in our professional life- it’s an unavoidable barrier that we all deal with at some point. It may seem like plateaus are never-ending and impossible to break through, but in this blog I will go over 10 different things that YOU can do to elevate yourself and your business to the next level. Nothing is ever impossible, including you breaking through to new, exciting levels!
Plateaus will always be unique to us, our business, and our goals- your plateau may be $70,000, while someone else’s may be $500,000. It’s not about what triggers our plateau, but rather how we deal with this plateau! If you have recognized that you are stagnating in your business but you have implemented no real way of dealing with this, then that’s an issue. It may seem like a daunting task, but your end result will make the effort well worth it. Maybe all of these tips will apply to you, or maybe only a select few will. Take the tips that resonate with you and run with them.
Implement systems. Anything you do more than three times requires a system. We sometimes avoid creating systems because the extra work and people’s reliance on us and our expertise makes us feel relevant; However, there are better ways to get your work done for your clients. By creating systems, you are opening up your valuable time in order to create more business through other avenues.
Hire and delegate. Are you thinking about hiring? Chances are, if you are thinking about hiring, you already need to hire. The best time to hire an assistant is before you actually need one, and I’ll tell you why. If you hire an assistant in the midst of an incredibly busy patch, you are not training your assistant to capacity. You don’t have time to train someone properly if you are swamped and overworked. On the other hand, if you hire before you overwork yourself, you allow yourself the time to properly train and delegate workloads to your assistant. In this way, your assistant is able to take some of your workload and actually help you make more money. An assistant can create business that would have never been accessible if you had done it on your own.
Form a team. Different people have varying ideas about what constitutes a team. Maybe your team is 50 people. Maybe your team only includes you, a marketer, and an assistant. Whatever the amount, a team is there to provide you with reprieve. With individuals on this team able to take on specific roles for your company, you are allowing yourself a piece of your life back. The real estate industry certainly may feel like it has a “cannibal effect” on professionals, but a forming a team in the right way allows for a greater peace of mind.
Go after a higher price point. Now, this doesn’t mean completely jump ship on your current price point. You must master the price point you are in now, and then you are able to work your way up through marketing, social media, you name it.
Change your routine. Much like physical activity, our business also suffers from the same routine day in and day out. If you’re doing the same exact thing every single day, chances are you are going to get bored, which takes a toll on us and our passion for what we do. There is a difference between going to work and GOING to work. You may be able to fool the people around you when you come to work, but you know that you’re just not fully invested in your work or what you are doing. This is when your business starts to suffer. You need to add life back into your workday to spark your creative flame and nurture your passion.
Get more lines in the water. If you’ve hit a plateau, a lot of times it is due to a lack of potential business. If you have checked all of the boxes thus far regarding this post, it’s clear that your issue is that you are just not getting the business you need to thrive. Generally speaking, if you want more business, and you have already implemented these tips, you do not have enough potential ways for business to come to you. You need more opportunity!
Connect your “why” with your job. When you are able to connect with “why” with what you do, you are able to recognize and stoke your passion. What are you passionate about? How does this passion relate back to your job? Once you figure that out, you know what you need to do on purpose to really fulfill that passion. Selling homes may be what you do on purpose, so what is your passion? Is your passion helping people? Then, you sell homes on purpose to fulfill this.
Track your time. There are 1440 minutes in your day- how are you utilizing them? It’s not a matter of lacking minutes in the day, it’s about how we are actually using our time. Don’t think you are busy all day because you’re just going through the motions of your daily routine. You may be wasting valuable time not really doing much of anything. Get rid of the waste, replace it with the BUT (best use of time)! Take away the bad, replace it EXCLUSIVELY with something good.
Make sure you have a personal life. If you are not happy in your personal life, it’s likely this will translate to your professional life. If you don’t have any passion in your workday because your personal life is suffering, you are doing something wrong! Take some time for yourself to recharge and reframe. Don’t give up what is unique to you for something that anyone can do. If you quit your job, you are replaced the next day; however, can your friends replace you as easily? Your family? Your children? Keep that in mind when thinking about your work/life balance.
Hire a coach. Because we are a coaching company, we truly know the value of having someone to keep you accountable. You need to hire a coach that will drag you, call you out, see things from a different perspective, and implement strategies that help you get to the next level. Click here to learn about your coaching options through us!
I know that hitting a plateau is frustrating for everyone, which is why I’ve created this list. Though a long list, it is created to help you really hone in on what is wrong in your business or personal life, and allow you to fix any problems. Maybe not all 10 of these are useful to you, but if just one is, then I’ve done my job.
Here’s to overcoming all plateaus!