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Seven figure success starts when
you start thinking like a CEO.

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Welcome to the John Kitchens Coach podcast
experience as your host, John Kitchens.

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Get ready to think bigger and
transform your business into

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a path to lasting freedom.

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What is happening,

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man, excited.

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I'm, I'm loving this series.

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So pumped for the next one.

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Yeah, me too.

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Um, and just a, just a really
good, um, you know, a deeper dive,

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a little more clarity on, you
know, the, the, the components in.

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This process.

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Um, and, and really the process, the
more, the deeper I dive in going through

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this and kind of being enforced kind
of on the project we're working on

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to, to help tell the story, had to go
through this and re re revamp everything

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and, and really looking at kind of
the true agent to CEO process and.

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You know, part one was the clarity
compass, uh, that we, that we covered

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really kind of working from A to B, um,
a real honest look at current reality.

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And, you know, kind of the saying is,
you know, all progress begins with

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telling the truth, but also charting,
you know, for us to chart the course,

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we gotta know where we're going.

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And once we know where we're going,
then we get to chart the course, which

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really is the vision framework that.

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Um, allows us to really, truly
create the soul of our company and

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what's been really instrumental,
um, in a lot of the conversations as

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we're talking about 26 and beyond.

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And I, and, and, and I know you're
conveying the same message, Joel is

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like, listen, 26 has to be the fuel.

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That's puts us on the path to, to
where we want to be in 27, 28, and 29.

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Like, that's, that's the shift in
moving from an agent that's stuck on

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the transaction treadmill to moving
and actually building a business

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is that everything we're doing and
building has to be moving us in the

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direction to three years down the road.

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But we need that, that, that, that fuel.

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The soul of our company because if
part of our objective is to bring

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people in, even if it's admins
VAs support fractional or agents.

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We've gotta have a vision
that people believe they can

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accomplish their dreams in.

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And talking with agents that are,
that are taking their teams or they're

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part of vi, you know, vision board
exercises, getting them to dream.

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And I'm like, listen, you can
take your team through that.

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But if you're pushing them to, to
challenge their dreams if they don't

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believe or, or, or know the vision
for the company and if it's not big

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enough to where they can believe
they can accomplish those dreams.

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You just gave them, you know, you
know, the keys to, to leave is

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essentially what you just gave them.

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They're, 'cause they're like, I've got
these big dreams that you're, you're

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helping me come get clear and push, but
I'm seeing your vision and your dreams

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and they're tiny compared to what I want.

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I can't be a part of this.

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So that's why we, it's so
important to nail that, to chart

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the course, to have the vision.

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Then last week, part three
was where we upgrade kind of

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our operating system mentally.

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Right?

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That's where the critical thinking
component, the mental models, the

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way we think those frameworks and the
stuff that you and I geek out about

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all the time, right, that we're talking
about and how to think and think more

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accurately to stay out of the drift.

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Um, and, and really focus on, you
know, accurate thought and accurate

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thinking, but having the frameworks to
navigate through different scenarios.

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So that was part three.

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This week we're gonna touch on part
four, which is the profit engine.

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So this really gets into the model
that we have to have in order.

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To, to really build, to build that out.

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So we're gonna build that blueprint out.

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So we're gonna dive into that.

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Um, we're gonna be off next week, and
then we're gonna come back in week two

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and week 3rd of December to hit parts
five and six of the agent to CEO process.

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And so part five, it will
be the roadmap, right?

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That'll be the ex execution
roadmap, and that that's really

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those 90 day execution cycles.

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That we operate within.

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Um, that's our strategy.

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And then the final component is,
is really the leadership flywheel.

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This is the magic, right?

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This is really, you know, to
where we get to the point to

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where it all comes down to people.

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It all comes down to the team.

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It comes down to your life team that
you have that's gonna support you.

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In executing, you know, those 90 day
execution cycles within this profit

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engine that we're gonna talk about, that
we've, we've changed the way we think.

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We don't think like a transactional
treadmill, you know, a FA average

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frustrated agent, or you can
put F in there for whatever you

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want to use it for, and then.

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As we're in pursuit of the vision, we
charted the course and we're operating

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with tremendous clarity from where
we're at and where we want to go.

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So that's the process and, and you
know it, I look at it both ways.

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Joel, and I'd love your, your 2
cents on this before we jump in.

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I've looked at it like a ladder to where
you start with, you know, the destination.

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Where are we going?

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What's, what's this
engine, this profit engine?

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What do we need to execute on
every 90 days in the team, that

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leadership flywheel built to.

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Execute on that 90 day execution
within this profit engine in

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pursuit of the destination, right?

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So it can kind of go up and
down, but you could also flip

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it and put it into a flywheel.

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Because once you have more clarity,
you're knowing where you're going.

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You've, you've got great thinking.

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You're implementing that in, in not only
yourself, but the people around you.

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You've got the right profit engine
with the right execution, with the

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right people that's gonna get help.

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You get more clear.

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That's gonna then continue to, you
know, make sure we know and, and

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amplify the soul of the company.

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So it can also work in a
flywheel or it can stack up and

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go, kind of go up and go down.

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Um, either way is a great
visual for, for both.

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But I, I, I just, I'm.

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I know this process is right, but
the way we're kind of going about

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it and reframing it, uh, it's,
it's just, I'm loving it even more.

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Yeah.

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Yeah.

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Same with me.

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For me, the, the visual that resonates
with me is, is the flywheel, and for

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anybody who's not really familiar with
that, it, it's basically an upward

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spiral where each component of the
process fuels the next component.

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And it, and it just, it gains
momentum and energy as it goes.

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Um, continuing to get upward.

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But what I like about the idea of
the flywheel is, is none of these

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ever really stop at a certain point.

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You know, some of these pieces might
not take a lot of time, but it's

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still, I, I just still think it's still
valuable to revisit them every 90 days.

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You know, the clarity compass.

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Yeah.

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That might be set for a few
years and it takes us a half an

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hour, you know, to review it.

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Um, but I still think it's
valuable to include it in, in that.

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Um, because it really does just
continue to drive everything

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forward and that mm-hmm.

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That flywheel idea is, is exciting.

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Mm-hmm.

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If you can figure out a, a real
flywheel, like that's, you know,

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that's kind of the business dream.

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So I I I love that.

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Uh, yeah.

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Visual.

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I, I, I could go with that.

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I, I can fall more in love with that too
as well, because it's the one thing that

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we talk about, it's always about building
momentum and the faster that flywheel

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is turning, the more momentum you have.

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And I wanna tell you
guys listening into this.

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If you have momentum.

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It is the number one thing you never
want to lose because if you lose

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momentum, it's 10 times harder to get it
back going than what it was to get it.

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It's the whole thing.

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It's easier to stay in
shape than to get in shape.

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It's easier to maintain momentum and
accelerate it than try to rebuild it.

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So whatever you have working,
wherever you feel some mojo, wherever

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you feel like some, some wind in
your sails, like, don't do what?

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What Joel?

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It has coined that real estate
agents are the most notorious for

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is building half-built bridges.

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And you know, it's, it's essentially
like I'm here in Pittsburgh.

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It's essentially like if you guys know
there's more bridges in Pittsburgh

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than any place on the planet.

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And it's essentially like if you
were in Pittsburgh and you couldn't

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get anywhere because all of the
damn bridges are half built.

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That's what real estate
agents do with their company.

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So it's like truly, truly.

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Finishing.

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And that's why when you, when
you have momentum, um, man, you

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never want to get complacent.

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There's always a little bit of extra.

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Squeeze and you know, to squeeze out
of that, out of that orange, there's

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a little bit more left, um, for
good seeing some new faces on here.

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So I appreciate you guys jumping in.

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Um, we're, we're gonna jam through this.

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If we have a little time,
we'll open up some questions.

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But I was telling Joel I. We love the
format of, of, from a book format of I

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think, I think Jocko, uh, Jocko's book.

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Um, extreme Ownership is like the best
format that you can, you can structure

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a book because it tells a story.

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He distills a principle, he applies
it to business and one of their

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business partners, um, or one of
the people that work with them at

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Echelon Front, which is a leadership.

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Training organization company is, um,
a gentleman by the name of Dave Burke.

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And Dave Burke is a Marine that, um,
got into, um, flying jets fly, um,

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getting, getting, um, to be able to fly.

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F 16 is in f eighteens.

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And he was, um, an instructor
at, uh, at Top Gun.

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And so, um, he got to working with Jocko.

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They served together in, uh, in Iraq.

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And so they were boots on ground in Iraq.

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And as a Marine, he was boots on
ground, but he's also a fighter pilot.

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Um, but he tells, um, he's
got a great leadership, new

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leadership book that came out.

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It's called The Need to Lead.

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So if you kind of dig, you
know, anything military fighter

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pilots, you, you know, um.

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Marine Corps, you know, um, combat
if you, if, if that's kind of your

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thing, especially like Top Gun.

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Um, this book is, has been
fantastic so far, and it's in

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the same principle, same format.

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And chapter one was, and is, Joel's
heard me say this over and over.

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There are no, there are
no business problems.

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It's all leadership problems.

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Everything is a leadership problem.

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And then the, the second, uh,
chapter Joel, um, got into, um.

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I'd have to go back and look, but the
chapter I'm on, I'm on chapter three

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right now, but it's all about complacency.

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Oh, chapter two is humility.

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So the most important word out of a,
from a leadership framework is humility.

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And then, um, number, this
chapter three is complacency.

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And that's the thing that will kill you.

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And so when you have momentum, how
you'll lose it is, is complacency.

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And, um, he got complacent,
uh, in a little bit.

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And he's like 99.9%, uh, of
the top fighter pilots ever.

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And he got s he got, he got taken
out in a, in, in a dog fight

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exercise by his mentor instructor.

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And he, 'cause he got complacent in a
turn and his, his mentor exposed him.

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So that's just a great example of.

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Momentum is everything, guys.

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I just like, I can't stress it enough.

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So when you have something working,
I can promise you, you haven't

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squeezed all of it outta there.

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So as you're thinking about, you
know, kind of the future, what

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you're gonna commit to, where's
your business gonna come from?

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How are you gonna continue
to grow going into 26?

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You always want to make sure you start
with what's working and how can you

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maximize it, how can you add more to it
before you try to build another bridge?

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Make sure the bridge you have is fully
built and don't leave it half built

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like, like Joel always talks about.

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So I know I rambled a little
bit there, Joel, any, any final

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thoughts before we jump in?

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Yeah, just it's momentum.

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Don't, don't coast.

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00:12:08,475 --> 00:12:09,705
Yeah, don't coast.

230
00:12:10,095 --> 00:12:13,335
If you got good momentum, put your
foot on the gas and keep going.

231
00:12:13,335 --> 00:12:15,945
Don't coast it, it runs out
quicker than we think sometimes.

232
00:12:16,245 --> 00:12:16,665
Yeah.

233
00:12:17,175 --> 00:12:18,285
Um, kind of adopted it.

234
00:12:19,155 --> 00:12:20,745
Charlie's saying Go max.

235
00:12:20,805 --> 00:12:21,195
Right?

236
00:12:21,195 --> 00:12:25,695
So like go hard, go as max,
max it out as much as you can.

237
00:12:25,695 --> 00:12:27,195
Ed Millets, you know, max out.

238
00:12:27,255 --> 00:12:29,505
So it's just continue to
keep your foot on that gas.

239
00:12:30,015 --> 00:12:33,435
So we're gonna jump into part four,
uh, which is the profit engine.

240
00:12:34,470 --> 00:12:40,560
And essentially the core concept of the,
of the profit engine is the blueprint

241
00:12:40,620 --> 00:12:44,460
for a business that is no longer
dependent on the owner's personal sales.

242
00:12:44,490 --> 00:12:45,930
So this is, this is important, right?

243
00:12:45,930 --> 00:12:51,090
If you, if you have aspirations
or goals or dreams of someday

244
00:12:51,090 --> 00:12:55,950
building a business that is not
dependent upon your production.

245
00:12:56,010 --> 00:12:57,450
Now, can you sell if you want to?

246
00:12:57,450 --> 00:12:58,050
Absolutely.

247
00:12:59,970 --> 00:13:03,689
What we're trying to get to is that if
you want to escape production, you've

248
00:13:03,689 --> 00:13:05,790
gotta move from this agent to CEO mindset.

249
00:13:06,735 --> 00:13:08,355
And listen, there's nothing
wrong in this business.

250
00:13:08,355 --> 00:13:11,955
If you wanna build lifestyle, we've,
Joel Joel's broken down the five

251
00:13:11,955 --> 00:13:16,245
business models of the future, and a
couple of them are the ATM model, right?

252
00:13:16,245 --> 00:13:17,775
ATM, where the agent does everything.

253
00:13:17,775 --> 00:13:19,215
You print as much cash as you can.

254
00:13:19,575 --> 00:13:23,595
The other is, um, you
know, ATM supported, right?

255
00:13:23,595 --> 00:13:25,935
Where you've got some, some leverage
and some support around you.

256
00:13:25,935 --> 00:13:29,595
But the whole objective is for you to
just sell as many dang houses and stack

257
00:13:29,595 --> 00:13:33,465
as much cash as you can, use your cash
and your profits to go invest in assets

258
00:13:33,855 --> 00:13:35,205
that are gonna per turn, you know.

259
00:13:35,745 --> 00:13:38,655
Generate a return to
where that's your exit.

260
00:13:39,194 --> 00:13:42,435
Um, so what, what, whatever,
whatever kind of the direction that

261
00:13:42,435 --> 00:13:44,270
you want to go, but there's still.

262
00:13:45,165 --> 00:13:47,535
A profit engine to whatever
it is you're trying to try.

263
00:13:47,535 --> 00:13:52,095
But, but in this context, what we're
talking about is an approach design

264
00:13:52,335 --> 00:13:54,375
that is team driven business model.

265
00:13:54,405 --> 00:14:01,965
With that, we're using financial drivers,
scalable lead sources, and really protect.

266
00:14:02,590 --> 00:14:07,689
That profit margin really protect that,
that bottom line, and this is where we

267
00:14:07,689 --> 00:14:12,400
can ensure stepping outta production
leads to profit increase, not a dip.

268
00:14:12,430 --> 00:14:15,820
That's, that's the biggest thing that
we've always seen helping, helping team

269
00:14:15,820 --> 00:14:19,480
leads step outta production, is that the
profit takes a dip because they don't

270
00:14:19,480 --> 00:14:21,820
know how to structure it correctly.

271
00:14:22,864 --> 00:14:28,175
So the key activities as we
design, we're the architect, right?

272
00:14:28,175 --> 00:14:30,364
This is a creative world,
not a reported world.

273
00:14:30,694 --> 00:14:34,864
We get to design, so we're the
architect, the core components

274
00:14:34,864 --> 00:14:36,064
of the, of the business machine.

275
00:14:36,064 --> 00:14:38,224
Number one is the economic model, right?

276
00:14:38,224 --> 00:14:40,175
This is where, um.

277
00:14:40,800 --> 00:14:44,310
Math is the math, and sometimes the
math don't math and we have to make

278
00:14:44,310 --> 00:14:46,740
sure that it does and, and listen.

279
00:14:46,770 --> 00:14:50,940
Business is just math then it's just
layered with leadership on top of it.

280
00:14:51,150 --> 00:14:55,470
But at at the core, the economic model
is super, super important to get.

281
00:14:56,070 --> 00:15:00,270
And so it was the third component
for us that unlocked everything

282
00:15:00,990 --> 00:15:05,670
after strategy in a strong value
proposition is that we had to nail this.

283
00:15:06,310 --> 00:15:10,840
We didn't have this, we couldn't escape
until we nailed the economic model.

284
00:15:11,560 --> 00:15:15,490
Um, and so we wanna design the clear
financial model that outlines how

285
00:15:15,490 --> 00:15:17,260
the business makes money at scale.

286
00:15:17,260 --> 00:15:21,430
This includes defining commission
structures, team compensation

287
00:15:21,430 --> 00:15:27,730
plans, operational budgets that are
profitable for the business while still

288
00:15:27,730 --> 00:15:29,830
attracting and retaining top talent.

289
00:15:30,040 --> 00:15:30,310
Right.

290
00:15:30,310 --> 00:15:31,390
How do you, how do you.

291
00:15:31,950 --> 00:15:35,850
Attract and retain, how
do you keep top talent?

292
00:15:36,360 --> 00:15:38,370
Um, and, and without.

293
00:15:38,880 --> 00:15:42,300
Getting crushed with the margins are
given away to too, too much agents.

294
00:15:42,300 --> 00:15:44,579
Your cost of sales too high,
your gross, your gross margin.

295
00:15:44,579 --> 00:15:47,670
You don't have enough dollars
to make the thing work.

296
00:15:48,270 --> 00:15:52,949
Um, number two is we want to nail
and systemize the lead flow, right?

297
00:15:52,949 --> 00:15:55,260
We're the architects of the
lead generation and conversion

298
00:15:55,260 --> 00:15:57,390
systems that will fuel the engine.

299
00:15:57,780 --> 00:15:58,290
Okay?

300
00:15:58,770 --> 00:16:02,880
The focus is on creating
predictable, measurable.

301
00:16:03,450 --> 00:16:08,130
And team executable lead sources
that are not dependent on the owner's

302
00:16:08,130 --> 00:16:10,800
personal network or rainmaking efforts.

303
00:16:12,300 --> 00:16:15,420
The other word that I would
throw in here, this is system.

304
00:16:15,510 --> 00:16:20,220
You know, we're putting a system
with it, but it has to be consistent.

305
00:16:21,360 --> 00:16:23,100
Listen, I get it.

306
00:16:23,310 --> 00:16:30,240
A word of mouth, A baffini model is
a highly, highly profitable model.

307
00:16:30,870 --> 00:16:33,479
Built on reputation,
built on word of mouth.

308
00:16:33,479 --> 00:16:37,979
It's slow to build, but
it's not consistent.

309
00:16:38,130 --> 00:16:40,229
I don't care how good you get at it.

310
00:16:40,650 --> 00:16:43,770
It's so inconsistent when you're
trying to build a business on

311
00:16:43,770 --> 00:16:45,089
word of mouth and referral.

312
00:16:45,089 --> 00:16:45,150
So.

313
00:16:46,245 --> 00:16:48,735
You can do it and it can
be highly profitable.

314
00:16:49,275 --> 00:16:50,745
It's just not gonna be consistent.

315
00:16:50,745 --> 00:16:52,215
So I would throw that key word in there.

316
00:16:52,215 --> 00:16:54,165
What can I do that's gonna be consistent?

317
00:16:55,065 --> 00:16:57,495
Um, and then we gotta
define the service model.

318
00:16:57,495 --> 00:16:59,415
So we clearly define the client.

319
00:16:59,595 --> 00:17:01,125
They're not customers, they're clients.

320
00:17:01,125 --> 00:17:05,085
What's the client journey and the
roles and responsibility of the team?

321
00:17:05,985 --> 00:17:09,405
To deliver a world class experience.

322
00:17:10,065 --> 00:17:14,235
If you guys have been hanging with me and
Joel at all, you know one of the key words

323
00:17:14,235 --> 00:17:16,485
moving into the future is experience.

324
00:17:16,545 --> 00:17:22,005
And what type of experience are you
creating that is gonna have people latch

325
00:17:22,005 --> 00:17:27,225
onto you and your brand and then truly
become that advocate for your business.

326
00:17:28,365 --> 00:17:31,995
So the operational clarity really.

327
00:17:32,700 --> 00:17:38,250
Service quality has to remain high
or continue to improve as you, as the

328
00:17:38,250 --> 00:17:44,550
owner steps back from the day-to-day in
the trenches, right, to where you're,

329
00:17:44,550 --> 00:17:47,040
you're stepping back because why?

330
00:17:47,490 --> 00:17:52,889
Because you're utilizing your
business to unlock opportunities and

331
00:17:52,889 --> 00:17:57,270
utilize your profits to go invest
in assets that's gonna build wealth

332
00:17:57,270 --> 00:17:58,800
and freedom for you and your family.

333
00:17:59,670 --> 00:18:00,120
Listen.

334
00:18:00,870 --> 00:18:05,520
This is not about building a business
and not in residential real estate

335
00:18:05,520 --> 00:18:06,780
that's gonna be worth anything.

336
00:18:07,139 --> 00:18:11,550
Like we ain't building an exp.
You can, if that's your goal and

337
00:18:11,550 --> 00:18:12,929
your aspiration, get after it.

338
00:18:12,990 --> 00:18:13,500
I love you.

339
00:18:13,500 --> 00:18:14,310
Support you on it.

340
00:18:14,310 --> 00:18:14,939
You want our help?

341
00:18:14,939 --> 00:18:20,580
We'll, we'll, we'll help you get after
it, but the real name of this game.

342
00:18:21,375 --> 00:18:25,065
Utilizing and building a real
estate model that's gonna unlock

343
00:18:25,335 --> 00:18:31,305
opportunities and provide enough
resources, cash to go invest in those

344
00:18:31,305 --> 00:18:36,585
assets and unlock other opportunities,
that's the real exit in this game.

345
00:18:37,335 --> 00:18:42,825
Um, and so, you know, I love telling
the Kyle Whistle story, right?

346
00:18:43,605 --> 00:18:47,055
Kyle arguably had one of
the best, biggest, and best.

347
00:18:47,655 --> 00:18:50,085
I mean, he lives in damn
Southern California.

348
00:18:50,115 --> 00:18:57,015
His model, profitable printing cash,
had the business sold, had it sold.

349
00:18:57,975 --> 00:18:59,085
But guess what they were doing?

350
00:18:59,265 --> 00:19:00,135
Who was buying it?

351
00:19:00,795 --> 00:19:05,655
They were gonna tie him to the business
for three years as part of the buyout.

352
00:19:06,705 --> 00:19:10,755
He had to stay committed to it for three
years and get his buyout over time.

353
00:19:11,925 --> 00:19:12,970
He's like, why would I do that?

354
00:19:15,030 --> 00:19:19,980
I'm gonna come to exp,
which he did and built.

355
00:19:20,340 --> 00:19:22,740
Utilized his brand to
build his organization.

356
00:19:23,265 --> 00:19:26,625
Which now has unlocked him, but now
he's loving it and he's even bigger.

357
00:19:26,625 --> 00:19:29,115
He is building bigger, you
know, rolling companies in.

358
00:19:30,015 --> 00:19:34,965
So we just want to understand what is
the goal, and this goes back to part

359
00:19:34,965 --> 00:19:37,995
two of charting the course, right?

360
00:19:38,205 --> 00:19:41,535
And charting the course is only
possible because we know where

361
00:19:41,535 --> 00:19:43,245
the clarity compass has taken us.

362
00:19:43,365 --> 00:19:44,745
What is freedom for you?

363
00:19:45,315 --> 00:19:47,565
So the, this engine is gonna drive it.

364
00:19:48,315 --> 00:19:51,765
So really in short, the profit engine
is where we architect the business

365
00:19:51,765 --> 00:19:53,595
model that funds your vision.

366
00:19:54,135 --> 00:19:58,995
Um, it's a step-by-step blueprint for
building a predictable team-driven revenue

367
00:19:58,995 --> 00:20:02,925
machine that ensures your profits grow as,
as you systematically ex exit production.

368
00:20:03,255 --> 00:20:07,095
I would es escape production is,
is a better word to use for that.

369
00:20:07,605 --> 00:20:11,535
Um, Joel, I'm gonna stop right there
and then we can touch on, um, you know,

370
00:20:11,535 --> 00:20:14,205
kind of, kind of maybe unpack that
a little bit more, talk about some,

371
00:20:14,205 --> 00:20:16,035
some benefits and then we'll get into.

372
00:20:16,544 --> 00:20:18,705
Um, walking through the, the blueprint.

373
00:20:19,815 --> 00:20:20,085
Yeah.

374
00:20:20,175 --> 00:20:20,565
Love it.

375
00:20:21,675 --> 00:20:25,335
I think an an important point
that gets overlooked a lot is,

376
00:20:25,695 --> 00:20:30,044
is your, your circumstances, your
market is gonna dictate a little

377
00:20:30,044 --> 00:20:31,425
bit of what's available to you.

378
00:20:31,905 --> 00:20:35,175
And so sometimes, you know,
we, we talk to, uh, clients of

379
00:20:35,175 --> 00:20:36,465
ours or mastermind members too.

380
00:20:36,465 --> 00:20:38,655
They're like, oh, I wanna do, I
don't, I wanna do what he's doing.

381
00:20:39,225 --> 00:20:42,330
Well, he's doing that in a. Market,
whereas average sale price is

382
00:20:42,330 --> 00:20:46,260
$800,000, you're in a market where
your average sale price is $200,000.

383
00:20:46,470 --> 00:20:49,200
You're not gonna be able to run
the same, the exact same model

384
00:20:49,200 --> 00:20:50,580
and expect the same results.

385
00:20:50,910 --> 00:20:54,720
So, ha you know, having a, a, a high
overhead, large office, lots of staff.

386
00:20:55,560 --> 00:20:59,580
Um, model in a low price point, market's
gonna be really tricky to pull off.

387
00:20:59,909 --> 00:21:03,090
So just what's available to you,
you know, is gonna be different

388
00:21:03,090 --> 00:21:04,020
depending on where you are.

389
00:21:04,020 --> 00:21:07,110
So this, again, one, one more
reason why we, we sit down and we

390
00:21:07,110 --> 00:21:08,909
really map this stuff out, right?

391
00:21:08,909 --> 00:21:11,490
What's my average commission
gonna be that I can expect?

392
00:21:12,074 --> 00:21:13,695
What can I charge here in this market?

393
00:21:13,695 --> 00:21:16,845
There might be higher price point markets
that have already had some commission

394
00:21:16,845 --> 00:21:18,435
pressure and you're making less per deal.

395
00:21:18,915 --> 00:21:21,675
So we have this information
available to us, which is one of

396
00:21:21,675 --> 00:21:22,905
the great things about real estate.

397
00:21:22,905 --> 00:21:25,304
We're not, it's not a brand new
product that we're trying to figure

398
00:21:25,304 --> 00:21:26,804
out what the market's gonna pay for.

399
00:21:26,804 --> 00:21:29,504
Like, this data's all available,
which gives us such a leg up as

400
00:21:29,504 --> 00:21:32,925
business owners here, but we still
have to take the time to model it out.

401
00:21:33,345 --> 00:21:35,865
Um, what, what can we, you
know, expect to collect?

402
00:21:36,570 --> 00:21:41,130
What is the going rate of talent,
of leads of software, of office

403
00:21:41,130 --> 00:21:42,450
space, of whatever we need.

404
00:21:42,450 --> 00:21:43,800
We can map this all out.

405
00:21:43,800 --> 00:21:46,710
It's one of the reasons we get so
excited about still helping people

406
00:21:46,710 --> 00:21:50,430
build real estate teams is 'cause it
has the potential to be so predictable

407
00:21:50,430 --> 00:21:54,330
because so much of this has been
figured out in, in some way or another.

408
00:21:54,360 --> 00:21:55,770
It doesn't mean it's easy, right?

409
00:21:55,770 --> 00:21:57,810
It's still a hard business
just like any business.

410
00:21:58,260 --> 00:22:01,650
But real estate is such an
opportunity because there's so much

411
00:22:01,650 --> 00:22:02,790
that's already been figured out.

412
00:22:03,345 --> 00:22:06,945
Or that we have all the data we
need to make good decisions and we

413
00:22:06,945 --> 00:22:08,325
just need to spend the time on it.

414
00:22:09,225 --> 00:22:10,275
Yeah, a hundred percent.

415
00:22:10,785 --> 00:22:15,405
So getting into getting into the
blueprint, really, like I said, remember

416
00:22:15,405 --> 00:22:18,735
we get to design this and you know,
obviously there's some principles

417
00:22:18,735 --> 00:22:22,440
and things in place, but we get to,
you know, uh, design out the journey.

418
00:22:22,440 --> 00:22:25,605
And this is, you know, following
within from, from agent to CEO.

419
00:22:26,295 --> 00:22:28,125
And listen, your personal
production is a job.

420
00:22:28,500 --> 00:22:31,050
Um, you know, not, not a business model.

421
00:22:31,500 --> 00:22:36,750
So the blueprint, um, is the tool
to help design the actual business,

422
00:22:36,810 --> 00:22:43,380
um, machine financially sound
strategically, um, dialed in and, and

423
00:22:43,440 --> 00:22:47,010
operationally, you know, to where we
can continue to, to grow and scale.

424
00:22:47,490 --> 00:22:51,300
So obviously as we've kind
of gone through this, every.

425
00:22:52,350 --> 00:22:54,330
Section connects to the other, right?

426
00:22:54,330 --> 00:22:57,750
It all write things, right Order,
everything has to, has to connect.

427
00:22:58,260 --> 00:23:03,090
And, and really this helps us as we, as
we kind of walk through this build, build

428
00:23:03,090 --> 00:23:06,629
the engine for what we, what we want is
consistent, predictable growth, right?

429
00:23:06,629 --> 00:23:09,899
That's, that's really what we're, what
we're trying to, to push and unlock.

430
00:23:09,899 --> 00:23:13,710
So, you know, part one is the
math, um, it's the economic model.

431
00:23:13,800 --> 00:23:18,695
Um, and listen, top line
revenue is, is vanity.

432
00:23:19,274 --> 00:23:23,504
Um, how much it keeps is what we're,
is, what we're after, what is, what is

433
00:23:23,504 --> 00:23:25,605
truly coming to the, to the bottom line.

434
00:23:25,605 --> 00:23:31,844
What is that healthy, um, profit
percentage That's not hoarding too

435
00:23:31,844 --> 00:23:36,044
mon, too much money that is stopping
you from investing in growth, but.

436
00:23:36,990 --> 00:23:39,270
What is a good, healthy, healthy number?

437
00:23:39,330 --> 00:23:44,310
And so we really want to, to be
able to, to back in and reverse

438
00:23:44,310 --> 00:23:49,140
engineer as we're really trying
to get to our, our freedom number.

439
00:23:49,740 --> 00:23:52,170
And you know, we talked about
it in the clarity compass.

440
00:23:52,875 --> 00:23:55,455
Y'all have heard my definition
of freedom is two things.

441
00:23:55,455 --> 00:23:57,555
How much money do you need to come in?

442
00:23:57,795 --> 00:24:01,455
You know that you're not trading time
for dollars through, through investments,

443
00:24:01,455 --> 00:24:02,985
through other revenue streams.

444
00:24:03,375 --> 00:24:07,035
Yes, your business can provide, you
know, the predictable profit and the

445
00:24:07,035 --> 00:24:10,725
profit margin, but we want to utilize
and harvest those profits as much

446
00:24:10,725 --> 00:24:14,565
as we can to invest in assets that's
gonna provide revenue streams to

447
00:24:14,565 --> 00:24:18,885
where you guys have money coming in,
when you're sleeping, when you know.

448
00:24:18,950 --> 00:24:23,180
You're, you know, taking, taking the
trip on the other side of the planet

449
00:24:23,180 --> 00:24:28,040
to, to go visit, you know, awesome
locations and just live life, experience

450
00:24:28,040 --> 00:24:32,630
life and, and that's really what we're,
what we're really trying to get to.

451
00:24:32,630 --> 00:24:34,760
And that's what your real
estate business can fund.

452
00:24:34,760 --> 00:24:39,795
And listen, we have, they
put Martha Stewart in jail.

453
00:24:40,440 --> 00:24:43,710
For, for, for, for less
than what we have access to.

454
00:24:43,860 --> 00:24:44,130
Right?

455
00:24:44,130 --> 00:24:44,700
Think about that.

456
00:24:44,700 --> 00:24:48,750
Especially if you run a motivated seller
offer to your market, a cash offer,

457
00:24:48,750 --> 00:24:53,820
working with motivated borderline, you
know, distressed type opportunities,

458
00:24:53,820 --> 00:24:55,650
desperate seller type markets.

459
00:24:55,650 --> 00:25:00,630
Your cash offers, your guaranteed offers,
you're gonna unlock opportunities, right?

460
00:25:00,660 --> 00:25:02,010
Like information that.

461
00:25:02,379 --> 00:25:06,250
You have a privy to, to be able to,
to make, to make those investments.

462
00:25:06,939 --> 00:25:08,770
But you gotta know what that number is.

463
00:25:09,429 --> 00:25:10,510
That's one part of freedom.

464
00:25:10,510 --> 00:25:13,179
The other is, are we living and
moving closer to our perfect day?

465
00:25:13,480 --> 00:25:17,050
But that number one is, is like,
what number are we working towards?

466
00:25:17,230 --> 00:25:22,060
And that's like, if we can get, get
locked in on that, that's also part

467
00:25:22,060 --> 00:25:26,199
of the decision making process that
you know, Joel and I would ask you.

468
00:25:26,909 --> 00:25:28,050
You would say, Hey, I don't know.

469
00:25:28,050 --> 00:25:28,680
Should we do that?

470
00:25:28,680 --> 00:25:29,070
I don't know.

471
00:25:29,070 --> 00:25:30,750
Is it gonna move you closer
to your perfect day or is it

472
00:25:30,750 --> 00:25:31,530
gonna move you further away?

473
00:25:31,530 --> 00:25:33,000
Is it gonna move you closer
to your freedom number?

474
00:25:33,000 --> 00:25:34,260
Or is it gonna move you further away?

475
00:25:34,290 --> 00:25:38,460
So really being able to know that the
decisions we're making is moving us in,

476
00:25:38,520 --> 00:25:42,840
in that known direction, but we gotta
know what the number is and, and being

477
00:25:42,840 --> 00:25:47,430
able to just really look at that and
back into it and how much money do we

478
00:25:47,430 --> 00:25:50,490
need to be trying to look to invest.

479
00:25:50,490 --> 00:25:54,270
That's the profit targets we're,
we're really looking to, to invest in.

480
00:25:54,945 --> 00:26:00,794
I, I, I mean, Joel, if we
follow Creb Treese, you know,

481
00:26:00,855 --> 00:26:03,929
he's, he talks 15%, um, up to.

482
00:26:04,754 --> 00:26:06,014
You know, whatever.

483
00:26:06,014 --> 00:26:08,325
But 20 to 40 is really, is really healthy.

484
00:26:08,865 --> 00:26:12,165
Um, I, I think really depending upon
team size, market size, that that

485
00:26:12,165 --> 00:26:13,665
number's really gonna kind of fluctuate.

486
00:26:14,115 --> 00:26:15,915
We were selling $120,000 homes.

487
00:26:15,915 --> 00:26:20,715
Our target was 15%, not in
production, 15%, but you've got.

488
00:26:20,930 --> 00:26:25,610
You know, the Blake Sloans of the world
that are locked in 25, 30% or more.

489
00:26:26,030 --> 00:26:30,710
Um, so where, where do you really
push to think, man, we really need

490
00:26:30,710 --> 00:26:32,510
to set this target profit margin.

491
00:26:32,570 --> 00:26:35,210
Like we really wanna stay
right in this, this range.

492
00:26:35,990 --> 00:26:37,640
Hey, quick break before we move on.

493
00:26:38,060 --> 00:26:41,270
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494
00:26:41,270 --> 00:26:44,330
the scenes stuff in your business,
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495
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496
00:26:49,620 --> 00:26:54,780
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497
00:26:55,229 --> 00:27:00,510
Check it out@coachkitchens.ai and see how
I can plug right into your business today.

498
00:27:01,800 --> 00:27:03,179
Alright, back to the episode.

499
00:27:05,735 --> 00:27:09,510
I've, I've changed my mind a little bit,
a bit on it when it comes to real estate.

500
00:27:09,600 --> 00:27:14,669
Um, and for me it's, it, it's
getting to 30, 30% or above.

501
00:27:15,240 --> 00:27:19,680
And the, the reason I say that is because
if, if we get below that, definitely if we

502
00:27:19,680 --> 00:27:22,230
get below 20%, it's almost not worth it.

503
00:27:22,590 --> 00:27:27,570
You can make so much more money doing
it on your own than having a large

504
00:27:27,570 --> 00:27:29,670
business that's not super profitable.

505
00:27:29,970 --> 00:27:32,670
So let's just say we're making
a million dollars in GCI and

506
00:27:32,670 --> 00:27:34,470
you're 10% profitability, right?

507
00:27:34,470 --> 00:27:36,240
You're getting an extra a
hundred thousand dollars.

508
00:27:36,240 --> 00:27:39,000
It's so much easier for you
to go sell a bunch more houses

509
00:27:39,000 --> 00:27:40,025
by yourself to make that.

510
00:27:40,665 --> 00:27:44,745
Than it is to have a business
at a million dollars with 10%.

511
00:27:44,745 --> 00:27:44,805
Yeah.

512
00:27:44,985 --> 00:27:47,085
Now all of a sudden you need to,
you need to get up to a three,

513
00:27:47,085 --> 00:27:51,345
four, $5 million business for that
slight profit margin to make sense.

514
00:27:51,795 --> 00:27:54,375
But if we're at 30%, you're at a
million dollars, now you're getting

515
00:27:54,375 --> 00:27:57,195
300,000 in profit, you know, at the end.

516
00:27:57,195 --> 00:27:57,285
Mm-hmm.

517
00:27:57,705 --> 00:28:00,675
Now it's starting to make
sense for all of the, the work

518
00:28:00,675 --> 00:28:02,115
that goes into that business.

519
00:28:02,205 --> 00:28:05,955
Now, maybe all we need to do is get to
one and a half to 2 million in revenue.

520
00:28:06,899 --> 00:28:10,470
We're talking about, you know,
five, five to 600,000 in profit.

521
00:28:10,470 --> 00:28:12,480
So for me it, it's shoot for 30.

522
00:28:12,540 --> 00:28:14,939
Like is it still worth it at
a little bit less than that?

523
00:28:15,330 --> 00:28:15,870
Fine.

524
00:28:15,929 --> 00:28:20,429
You know, but for me, it, for me, it's in
a real estate team, not in all business.

525
00:28:20,429 --> 00:28:20,639
Right.

526
00:28:20,639 --> 00:28:22,830
But on a real estate team, it's, it's 30%.

527
00:28:22,860 --> 00:28:26,580
Otherwise, it just, it sell more
houses on your own and make more.

528
00:28:27,960 --> 00:28:31,170
And use that money to, to, you
know, invest in those assets.

529
00:28:31,290 --> 00:28:35,580
I think too, once you kind of reverse
engineer into that freedom number,

530
00:28:36,060 --> 00:28:39,900
what is, what is kind of the philosophy
around compensation that you have?

531
00:28:40,170 --> 00:28:43,080
What is the primary goal of
your, of your compensation model?

532
00:28:43,530 --> 00:28:46,050
Attract the absolute best,
most experienced agents.

533
00:28:46,325 --> 00:28:50,405
That margin means you gotta give a little
bit more than than what you're gonna keep.

534
00:28:50,465 --> 00:28:52,235
So that makes the margins a lot tighter.

535
00:28:52,835 --> 00:28:56,855
Do you have maximize the profitability
of every company generated lead?

536
00:28:57,335 --> 00:28:57,665
Right.

537
00:28:57,665 --> 00:28:58,985
That's the Blake Sloan model, right?

538
00:28:58,985 --> 00:29:01,895
He has everything is
after motivated sellers.

539
00:29:03,524 --> 00:29:07,605
He has listing partners that are only
getting compensated 2020 5%, he's

540
00:29:07,605 --> 00:29:10,814
keeping 80 to 75% of the opportunity.

541
00:29:11,385 --> 00:29:15,764
Um, and, and or create a loyal, stable
team that grows with the business.

542
00:29:15,764 --> 00:29:21,524
Is there a good balance in there right, to
where you are providing opportunities, but

543
00:29:21,524 --> 00:29:24,465
also, you know, being generous on sphere?

544
00:29:24,794 --> 00:29:28,080
I'll tell you one thing that, that, and
Joel, we don't need to go deep on it, but.

545
00:29:30,090 --> 00:29:33,150
Having the teams and especially the
team leads that are still kind of in

546
00:29:33,150 --> 00:29:37,260
production and we're trying to get 'em
under 40, 30, 20 5% of, of the overall

547
00:29:37,260 --> 00:29:39,900
production as they're growing the team.

548
00:29:40,440 --> 00:29:43,050
Pretty, pretty generous on the sphere.

549
00:29:43,050 --> 00:29:46,380
And then anything team generated, you
know, kind of defaulting back down

550
00:29:46,380 --> 00:29:50,400
to the 50 50 or even 40, you know,
60 to the company, 40 to the agents.

551
00:29:51,030 --> 00:29:53,610
But one of the things that we started
looking at, and I, I really love this.

552
00:29:54,825 --> 00:29:59,085
The, the real expenses is your
time as a team lead, right?

553
00:29:59,085 --> 00:30:02,264
That you, you give your time to the
team, you wanna support them, you wanna

554
00:30:02,264 --> 00:30:05,774
be there, you want to help them, you
know, feed them, not, not necessarily

555
00:30:05,774 --> 00:30:06,975
feed them, but help them convert.

556
00:30:06,975 --> 00:30:08,715
Make sure that you know
they're doing well.

557
00:30:09,435 --> 00:30:13,965
And, um, one of the things kind of loved
was if I have to step in as the team

558
00:30:13,965 --> 00:30:18,615
lead to help you secure an SOI deal, that
should be defaulted as a team compensation

559
00:30:18,615 --> 00:30:21,975
instead of an SOI compensation and the.

560
00:30:23,085 --> 00:30:25,875
Kind of one person that kind of talked
about having this conversation, I

561
00:30:25,875 --> 00:30:27,435
said, how did the agents take that?

562
00:30:27,435 --> 00:30:28,965
And they go, they absolutely loved it.

563
00:30:29,505 --> 00:30:30,525
They were like, thank you.

564
00:30:30,555 --> 00:30:30,855
Yeah.

565
00:30:30,885 --> 00:30:33,795
I'm willing to pay a team
structure for you, helping me

566
00:30:34,335 --> 00:30:35,865
secure and close these deals.

567
00:30:35,865 --> 00:30:39,555
So I thought that was kind of an
interesting kind of twist to what defaults

568
00:30:39,555 --> 00:30:41,805
down to, um, a company generate it.

569
00:30:42,615 --> 00:30:46,365
Comp structure versus just a SOI
agent generated comp structure.

570
00:30:46,365 --> 00:30:47,955
So just, just food for thought.

571
00:30:47,955 --> 00:30:51,015
Just, you know, if you guys have hung out
with us long enough, we're gonna throw

572
00:30:51,015 --> 00:30:54,315
a bunch of things at you just to change
up and, and challenge the way you're

573
00:30:54,315 --> 00:30:56,715
thinking about, about your business.

574
00:30:56,805 --> 00:30:58,455
So, define your philosophy.

575
00:30:58,455 --> 00:30:59,115
What is that?

576
00:30:59,175 --> 00:31:00,615
What are, what are the what?

577
00:31:00,615 --> 00:31:02,325
What's the model scenario?

578
00:31:02,445 --> 00:31:02,955
Um.

579
00:31:03,990 --> 00:31:05,640
Healthy is about 50 50.

580
00:31:05,820 --> 00:31:06,180
Right.

581
00:31:06,180 --> 00:31:10,380
You know, 50 company, gen 50, agent gen.
If you, if you shift a little bit more

582
00:31:10,380 --> 00:31:15,810
to the agent gen side of things, you're
gonna have to figure, figure that out.

583
00:31:15,870 --> 00:31:19,230
Um, because if agents feel like they're,
they're giving more than they're getting,

584
00:31:19,500 --> 00:31:21,150
they're not gonna hang around with you.

585
00:31:21,540 --> 00:31:26,940
I know, Joel, when we were, uh, before
we transitioned to exp. Uh, stepped

586
00:31:26,940 --> 00:31:29,010
away from partner model outta Texas.

587
00:31:29,280 --> 00:31:33,360
We were, we were faced with a real
riddle that we were gonna have to solve.

588
00:31:33,450 --> 00:31:36,210
And what we were gonna have to
solve is the agent generated

589
00:31:36,210 --> 00:31:37,290
business side of things.

590
00:31:37,920 --> 00:31:42,389
And we had a couple agents
that paid us six figures in

591
00:31:42,389 --> 00:31:45,030
one year off of their business.

592
00:31:45,030 --> 00:31:46,920
They brought to the table
and they're like, guys, this

593
00:31:46,920 --> 00:31:48,090
isn't a healthy relationship.

594
00:31:48,090 --> 00:31:49,139
We go, we agree.

595
00:31:49,889 --> 00:31:51,690
Thank goodness we didn't
have to solve that problem.

596
00:31:51,690 --> 00:31:54,195
But I think what we were gonna have
to do is we were gonna have to.

597
00:31:55,409 --> 00:31:58,770
We were just gonna have to cap
how much money they paid in from,

598
00:31:58,800 --> 00:32:00,330
from their side of the business.

599
00:32:00,330 --> 00:32:04,080
That I think was what we were
gonna have to land with that.

600
00:32:04,080 --> 00:32:09,420
I don't know what the math was gonna math,
but you gotta model out these scenarios.

601
00:32:09,780 --> 00:32:13,290
And I can tell you if you're
running a 75 25 model, 25% to you.

602
00:32:14,294 --> 00:32:15,645
You ain't ever getting outta production.

603
00:32:16,455 --> 00:32:20,145
Um, you're gonna get sucked back
in at, at some point unless you

604
00:32:20,145 --> 00:32:22,995
have other revenue streams to
where you don't get sucked back in.

605
00:32:22,995 --> 00:32:26,564
But if you're trying to depend upon
this business in, in that structure,

606
00:32:26,625 --> 00:32:30,885
it ain't gonna work because that
only gives you 25 cents of every

607
00:32:30,885 --> 00:32:32,985
dollar for profit salaries, expenses.

608
00:32:35,025 --> 00:32:36,315
Which includes marketing.

609
00:32:36,735 --> 00:32:38,595
So your value promise has to change.

610
00:32:38,655 --> 00:32:42,015
That's why you know, you, you gotta
make sure you, you know, you know

611
00:32:42,015 --> 00:32:43,635
your na, you know your numbers.

612
00:32:44,325 --> 00:32:48,885
Um, and, and really modeling out where
the business is gonna come from to, to

613
00:32:48,885 --> 00:32:50,385
be able to nail the value proposition.

614
00:32:50,385 --> 00:32:52,515
And then what is the cost?

615
00:32:52,575 --> 00:32:54,045
What is the machine cost?

616
00:32:54,495 --> 00:32:57,675
And this is where you get into
salary cap and nailing the budget.

617
00:32:58,005 --> 00:33:00,675
And I've been asking this
question, Joel, in every room I

618
00:33:00,675 --> 00:33:03,405
go into, um, the last few months.

619
00:33:04,034 --> 00:33:09,495
And I ask, how many of you have a budget
that you look at on a weekly basis

620
00:33:09,555 --> 00:33:12,435
and you're updating every month and
you're running a budget versus actual,

621
00:33:14,925 --> 00:33:18,195
what do you think the percentage of of
people in the room that raise their hand?

622
00:33:19,065 --> 00:33:20,715
I would guess less than 10%.

623
00:33:22,155 --> 00:33:22,485
Yeah.

624
00:33:22,754 --> 00:33:23,235
Accurate.

625
00:33:23,805 --> 00:33:24,375
Accurate.

626
00:33:24,825 --> 00:33:28,754
And so if you guys don't have a system
to be able to run it, um, I know

627
00:33:29,445 --> 00:33:32,865
looking at, you know, the technology
side of things, especially like.

628
00:33:33,390 --> 00:33:36,990
You know these companies offering whatever
you get tapped into csu got a bunch of

629
00:33:36,990 --> 00:33:39,990
agents utilizing CTE or spreadsheet.

630
00:33:39,990 --> 00:33:40,980
You gotta have something, right?

631
00:33:40,980 --> 00:33:42,870
Be able to, to really
pay attention to that.

632
00:33:44,010 --> 00:33:50,970
But when we look at kind of nailing kind
of that salary cap, top line revenue,

633
00:33:51,150 --> 00:33:52,710
how much is going out in cost of sales?

634
00:33:52,710 --> 00:33:54,000
How much are you paying your broker?

635
00:33:54,000 --> 00:33:55,620
How much are you paying your agents?

636
00:33:56,175 --> 00:34:00,855
Um, we wanna be in the 45, 55 range, is
kind of where we want to try to get to,

637
00:34:01,005 --> 00:34:05,235
to what, what we're bringing in that's
coming to us after, after that split,

638
00:34:05,865 --> 00:34:09,960
what is, how much money are we spending
on marketing and lead gen? How much

639
00:34:09,960 --> 00:34:14,190
are we spending on salaries, including
what are you paying yourself, and then

640
00:34:14,190 --> 00:34:15,870
what are all the operating expenses?

641
00:34:15,929 --> 00:34:20,070
You've gotta know what, what those targets
are, what those measurables are, and

642
00:34:20,070 --> 00:34:22,980
also leaves room for that 25, 30, 40%.

643
00:34:23,250 --> 00:34:27,780
I would say probably 25 to 30% on
the profit target because then that

644
00:34:27,780 --> 00:34:30,510
allows you enough money to keep
reinvesting back into the marketing

645
00:34:30,510 --> 00:34:32,699
and lead gen to continue to grow.

646
00:34:33,509 --> 00:34:36,210
And then guys just, just really
making sure the math, maths.

647
00:34:36,239 --> 00:34:41,159
But the first thing in, in the
profit engine is the economic model.

648
00:34:41,250 --> 00:34:45,299
Dude, you gotta know the math and you
can't stick your head in the sand.

649
00:34:45,299 --> 00:34:47,370
You gotta, you gotta really dive into it.

650
00:34:47,819 --> 00:34:49,980
The book, I'll tell you
the book, two books.

651
00:34:50,340 --> 00:34:53,940
Um, the, the, the one book that
unlocked all of this for us was

652
00:34:53,940 --> 00:34:57,390
Greg, Greg Crabtree's book, simple
Numbers, straight Talk, big Profits.

653
00:34:57,990 --> 00:35:01,740
I think where we can kind of see a
hybrid within real estate is bringing in

654
00:35:01,890 --> 00:35:07,470
mackowitz, uh, profit First, and you can
kind of, kind of create a hybrid of where

655
00:35:07,470 --> 00:35:09,090
wherever you're at with your business.

656
00:35:10,065 --> 00:35:15,404
Incorporate the mackowitz kind of
profit first, layering in the salary

657
00:35:15,404 --> 00:35:18,345
cap and understanding the critical
numbers to pay attention to within

658
00:35:18,345 --> 00:35:20,745
the Crabtree, uh, Crabtree book.

659
00:35:21,225 --> 00:35:26,505
And then, um, I think the, the, the
one book that I know people that,

660
00:35:26,535 --> 00:35:29,295
that kind of, you know, struggle with.

661
00:35:29,730 --> 00:35:33,210
Um, the, the money side of things
that, that's really helpful.

662
00:35:33,630 --> 00:35:35,730
Um, and I'd have to look up his
name, but the name of the book

663
00:35:35,730 --> 00:35:36,960
is The Psychology of Money.

664
00:35:37,470 --> 00:35:42,810
And so I think, you know, unlocking that
mental aspect of it and then utilizing

665
00:35:42,810 --> 00:35:48,120
the tool, framework of Crabtree and
Mackowitz and kind of massaging those

666
00:35:48,120 --> 00:35:52,799
in together will really help you nail
down that financial, the financial

667
00:35:52,799 --> 00:35:54,299
buckets in the financial model for you.

668
00:35:54,299 --> 00:35:55,680
So that's, that's, that's part one.

669
00:35:56,040 --> 00:35:57,569
Part two, we get into the promise.

670
00:35:57,630 --> 00:35:58,950
This is the value proposition.

671
00:35:59,610 --> 00:36:03,180
This is so important, and I remember
hearing Ryan Dice talk about it,

672
00:36:03,180 --> 00:36:05,940
and I, I think Joel, I told you
earlier this year, he's like, I

673
00:36:05,940 --> 00:36:07,890
don't, I don't care about your goals.

674
00:36:08,295 --> 00:36:10,785
I don't even want to know what your
goals are until I know what your,

675
00:36:10,785 --> 00:36:12,375
your value promise to the market is.

676
00:36:13,125 --> 00:36:15,885
Once I know your promise to
the market, then I can help.

677
00:36:15,915 --> 00:36:18,105
Then I can, then I can help
you accomplish your goals.

678
00:36:18,915 --> 00:36:21,675
And, and I can also tell you if you're
gonna be able to achieve your goals.

679
00:36:21,735 --> 00:36:24,015
So what is your value
promise to the market?

680
00:36:24,585 --> 00:36:26,565
So remember, our businesses.

681
00:36:27,290 --> 00:36:30,170
Our businesses, uh, compete on promise.

682
00:36:30,260 --> 00:36:33,260
What is our promise, the promise we
can make, and more importantly, the

683
00:36:33,260 --> 00:36:35,210
promise we can keep to the market.

684
00:36:35,660 --> 00:36:41,000
And if you're building a team and
you, and you get, you know, north of

685
00:36:41,000 --> 00:36:46,700
1520, your, your clients change, but
you have buyer sellers, investors,

686
00:36:46,700 --> 00:36:48,830
builders inside of the marketplace.

687
00:36:49,040 --> 00:36:51,380
But you also, if you're building
a team, you have agents.

688
00:36:51,735 --> 00:36:55,395
And like I said, when you get north
of a dozen, a baker's dozen, two

689
00:36:55,395 --> 00:36:58,815
dozen, your clients become the agents.

690
00:36:58,815 --> 00:37:00,915
So what is your value
proposition to the agents?

691
00:37:00,915 --> 00:37:01,965
What promise are you making?

692
00:37:01,965 --> 00:37:03,915
And more importantly,
what promise can you keep?

693
00:37:04,605 --> 00:37:07,904
Um, and so that really becomes
the unique value you deliver.

694
00:37:08,235 --> 00:37:11,355
The example, guys, what I just told
about, you know, where, where it changes.

695
00:37:11,355 --> 00:37:12,585
Hey, I'll lead and support you.

696
00:37:12,585 --> 00:37:14,924
I'll even step in and
help you close deals.

697
00:37:14,985 --> 00:37:17,415
Now the economic maths
will math based upon.

698
00:37:17,700 --> 00:37:19,140
Time, but that's value proposition.

699
00:37:19,620 --> 00:37:20,790
Hey, I'm gonna provide leads.

700
00:37:20,820 --> 00:37:22,260
Hey, I'm gonna provide support.

701
00:37:22,260 --> 00:37:23,460
Hey, I'm gonna provide transaction.

702
00:37:23,460 --> 00:37:24,630
Hey, I'm gonna provide your marketing.

703
00:37:24,630 --> 00:37:25,710
Hey, we're gonna do content days.

704
00:37:25,710 --> 00:37:26,730
I'm gonna shoot all your content.

705
00:37:27,000 --> 00:37:28,800
Hey, we're gonna provide a
social media manager for you.

706
00:37:28,950 --> 00:37:30,420
Oh, by the way, we do
get to a certain level.

707
00:37:30,420 --> 00:37:33,450
We're gonna hire a VA for you that's
gonna do all of your backend stuff

708
00:37:33,510 --> 00:37:36,120
and support you, whatever that is.

709
00:37:36,120 --> 00:37:37,800
That is your value proposition.

710
00:37:38,400 --> 00:37:42,600
Um, and so you've gotta
define, like I said.

711
00:37:44,475 --> 00:37:47,955
Buyer sellers and real estate
agents, you gotta have two.

712
00:37:47,985 --> 00:37:50,175
That's, this is where it gets a little
tricky in this business is you're

713
00:37:50,175 --> 00:37:55,395
running almost two businesses within
one business and, and so what is that,

714
00:37:55,395 --> 00:37:59,655
that value proposition, what is the
differentiator for you in your market?

715
00:38:01,575 --> 00:38:02,895
You guys have heard us talk about this.

716
00:38:03,645 --> 00:38:10,395
Listen, there's two, two choices
you can make because people are

717
00:38:10,395 --> 00:38:11,775
trying to get to an outcome.

718
00:38:12,885 --> 00:38:14,985
They either have a desire
or they have a pain.

719
00:38:15,405 --> 00:38:16,425
So you have a choice.

720
00:38:16,635 --> 00:38:19,695
Are you a vitamin company
or are you a painkiller?

721
00:38:20,985 --> 00:38:24,585
What I know is that vitamins
are extremely important.

722
00:38:24,585 --> 00:38:25,395
We would all agree.

723
00:38:25,755 --> 00:38:28,365
However, when you ain't got no
money, you ain't buying no vitamins.

724
00:38:29,325 --> 00:38:35,325
So what you're better off is understanding
that when people have pain, they will.

725
00:38:36,000 --> 00:38:40,500
They will give you, they'll leverage
their kid to remove the pain, so

726
00:38:40,560 --> 00:38:42,359
you're better off being a painkiller.

727
00:38:42,419 --> 00:38:44,160
So identify the pain.

728
00:38:45,419 --> 00:38:50,745
What are the top three frustrations
or fears your ideal client has?

729
00:38:51,480 --> 00:38:54,480
When we talk about, oh, you gotta
have, what is your, what is the avatar?

730
00:38:54,480 --> 00:38:56,520
The avatar gets into
demographics, gets into all that.

731
00:38:56,550 --> 00:38:57,540
That doesn't matter.

732
00:38:58,080 --> 00:39:01,980
What matters is who's the client in
the marketplace that has the biggest

733
00:39:01,980 --> 00:39:03,870
pain that you're qualified to solve.

734
00:39:04,290 --> 00:39:07,410
That's how you gotta think
about, about the value promise.

735
00:39:08,580 --> 00:39:10,830
You want to design that solution.

736
00:39:10,830 --> 00:39:17,520
So how does your business solve one of
these pains in a way nobody else does?

737
00:39:17,850 --> 00:39:21,870
Like how do you solve the pain for
your ideal client in the marketplace?

738
00:39:22,020 --> 00:39:23,820
And this is always a
great question because.

739
00:39:24,705 --> 00:39:27,495
The ideal client can change
based upon the market conditions.

740
00:39:28,215 --> 00:39:33,285
As we're moving into a tough headwind,
we're seeing a lot more desperate sellers.

741
00:39:33,615 --> 00:39:36,075
That might be the real
opportunity in the market.

742
00:39:36,345 --> 00:39:42,435
So your value proposition might be
the solution to that pain point in

743
00:39:42,435 --> 00:39:48,975
the marketplace, and you really want
to forge that, you know, statement.

744
00:39:49,005 --> 00:39:49,725
We are.

745
00:39:50,130 --> 00:39:57,480
The only real estate team in
Milwaukee that solves a, you know,

746
00:39:57,690 --> 00:40:00,000
you know, helps motivated sellers.

747
00:40:00,000 --> 00:40:03,420
You know, sellers, desperate sellers,
you know, first time home buyers,

748
00:40:03,420 --> 00:40:05,310
whatever it is that your ICP is,

749
00:40:07,530 --> 00:40:09,270
which means they can
get the result, right?

750
00:40:09,630 --> 00:40:11,735
So, for example, why we ran.

751
00:40:12,525 --> 00:40:15,134
Our guarantee, they
still run it to this day.

752
00:40:15,165 --> 00:40:19,305
I think they just removed the days, but
our, your home sold in 59 days guaranteed.

753
00:40:19,305 --> 00:40:24,435
Or we'll buy it the 59 days
a seller could go, ah, okay.

754
00:40:25,035 --> 00:40:29,715
So if I, if I work with these guys, I
know in 59 days my home's gonna be sold.

755
00:40:30,075 --> 00:40:30,315
Okay.

756
00:40:30,315 --> 00:40:31,545
I can, I can, I can see that.

757
00:40:31,545 --> 00:40:31,755
Right.

758
00:40:31,755 --> 00:40:33,195
I know I got three months of runway.

759
00:40:33,195 --> 00:40:34,154
I got four months of runway.

760
00:40:34,154 --> 00:40:35,265
Hey, we need to be sold.

761
00:40:35,265 --> 00:40:36,705
We need to be transitioning down south.

762
00:40:37,320 --> 00:40:38,640
In, in three months.

763
00:40:38,640 --> 00:40:40,200
I know 59 days is gonna be gone.

764
00:40:41,010 --> 00:40:43,350
So that's a, that's a
only restatement, right?

765
00:40:43,350 --> 00:40:47,040
Hey, hey, we're the only real estate
company in the market that guarantees

766
00:40:47,040 --> 00:40:49,830
to sell your home in 59 days, or
we'll step in and we'll buy it.

767
00:40:50,400 --> 00:40:51,390
That solves it, right?

768
00:40:51,390 --> 00:40:55,140
So that's, that's that kind of, that,
that, that, that value proposition that,

769
00:40:55,560 --> 00:40:59,430
you know, we're the only, we're the only
real estate team in, you know, in, in

770
00:40:59,430 --> 00:41:03,360
the market that guarantees you'll make,
you know, a hundred thousand in your, in

771
00:41:03,360 --> 00:41:05,280
your first 14 months working with us or.

772
00:41:05,970 --> 00:41:10,020
You know, well, we won't take any
split until, until you achieve

773
00:41:10,020 --> 00:41:11,310
it, whatever the case, right?

774
00:41:11,310 --> 00:41:13,920
You can throw in there, whatever you
want, but that's really where you

775
00:41:13,920 --> 00:41:17,520
get into that only we statement and
really nailing that value proposition.

776
00:41:18,029 --> 00:41:20,520
So remember, you gotta, you
gotta promise to the motivated

777
00:41:20,520 --> 00:41:22,020
market buyers and sellers.

778
00:41:22,080 --> 00:41:25,799
And then what's the value proposition
to, to your, to your agents.

779
00:41:26,279 --> 00:41:28,620
I'll tell you right now, the
best way to work through this.

780
00:41:29,715 --> 00:41:30,735
Our tool is Zy.

781
00:41:30,975 --> 00:41:32,835
Um, that's our favorite AI tool is zy.

782
00:41:32,835 --> 00:41:36,705
You can go to coach kitchens.ai, but you
know, all of you guys are using chat,

783
00:41:36,705 --> 00:41:40,875
GPT at least what I, what what you could
do right here is like, Hey, listen, I,

784
00:41:40,875 --> 00:41:43,455
you know, I'm, I'm a real estate agent.

785
00:41:43,455 --> 00:41:47,055
I'm a building a small team
in, in Milwaukee, Wisconsin.

786
00:41:47,055 --> 00:41:50,355
I want you to help me build out
my agent value pro proposition.

787
00:41:50,360 --> 00:41:53,895
I want you to ask me as many questions
as you can, one question as as you need

788
00:41:53,895 --> 00:41:57,165
one question at a time until you have
enough information to help me build

789
00:41:57,170 --> 00:41:58,965
up my value proposition to the market.

790
00:41:59,550 --> 00:42:01,170
Just go, right.

791
00:42:01,170 --> 00:42:06,120
That's how you are the thought
leader and AI is supporting you

792
00:42:06,510 --> 00:42:10,710
in really navigating and working
through, you know, these questions

793
00:42:10,710 --> 00:42:11,910
that you know you should be doing.

794
00:42:11,910 --> 00:42:13,050
But she's like, where do I start?

795
00:42:13,410 --> 00:42:14,250
That's where you start.

796
00:42:14,280 --> 00:42:17,850
You start with the conversation
with, with the AI to really help you

797
00:42:17,850 --> 00:42:19,680
walk, you know, walk through this.

798
00:42:20,220 --> 00:42:24,480
Um, so, so really nailing
that, that value proposition.

799
00:42:24,510 --> 00:42:25,530
How are you different?

800
00:42:25,530 --> 00:42:28,140
How are you supporting, you know,
the agents in the marketplace?

801
00:42:28,740 --> 00:42:29,535
And I'll tell you right now.

802
00:42:30,705 --> 00:42:34,155
You know, be clear on what,
what value that you want to do.

803
00:42:34,155 --> 00:42:37,815
You wanna provide, like don't go recruit
brand new agents if you don't have a

804
00:42:37,815 --> 00:42:39,585
great training and onboarding system.

805
00:42:40,275 --> 00:42:43,695
Like if it's just you and you need
some support, make sure you attract the

806
00:42:43,695 --> 00:42:46,365
right agents that are gonna support you
in the business model that you have.

807
00:42:46,365 --> 00:42:49,605
Now, listen, if you have world-class
onboarding, you have world-class

808
00:42:49,605 --> 00:42:51,165
training, by all means go.

809
00:42:51,375 --> 00:42:55,485
Go build agents, go start a real estate
school and bring them into your business.

810
00:42:55,545 --> 00:42:58,905
So it's just certain ways you want to
think about it, but what, what you're

811
00:42:59,325 --> 00:43:02,265
uniquely gifted and qualified to solve.

812
00:43:02,265 --> 00:43:06,465
There's, there's one great
Ed Millet podcast with Rory

813
00:43:06,465 --> 00:43:07,875
Vaden from Brand Builders.

814
00:43:07,875 --> 00:43:11,475
It's, it's early on, uh, maybe it's
what, two, three years old Joel.

815
00:43:12,315 --> 00:43:15,885
That is probably one of the best
podcasts you can listen to that

816
00:43:15,885 --> 00:43:19,185
will help you really unlock your
value proposition to the market.

817
00:43:19,185 --> 00:43:19,905
There's some great.

818
00:43:20,220 --> 00:43:24,779
Uh, brand DNA helix that, that
vaden will take you through.

819
00:43:24,810 --> 00:43:26,279
It's fantastic.

820
00:43:27,000 --> 00:43:30,990
But if you wanna work through this the
fastest way, start having conversation

821
00:43:30,990 --> 00:43:35,370
with ai, it can really challenge you
and work and help you work through this.

822
00:43:35,850 --> 00:43:40,140
Uh, Joel, before I move into the, the
third part, um, really kind of talking

823
00:43:40,145 --> 00:43:44,580
about, you know, the magnets, but
anything else that you want to, you know,

824
00:43:44,580 --> 00:43:47,549
touch on with the math or the promise?

825
00:43:48,509 --> 00:43:52,500
I think thinking of these two things, I
think of all, of all the things that, that

826
00:43:52,500 --> 00:43:56,279
you've been teaching for years and that we
teach now, these are the two things that,

827
00:43:56,370 --> 00:43:59,790
that most agents, uh, don't do after.

828
00:43:59,790 --> 00:44:00,689
When they work with us.

829
00:44:00,689 --> 00:44:04,500
They, they, they still, they hear it,
they believe it, but they don't go back

830
00:44:04,500 --> 00:44:07,529
and work on the financials at a deep
level, and they don't really come up

831
00:44:07,535 --> 00:44:09,509
with, with a real value proposition.

832
00:44:10,709 --> 00:44:13,709
You know, we see agents that we talk
to all the time that their value

833
00:44:13,709 --> 00:44:15,930
proposition is still some version of.

834
00:44:16,335 --> 00:44:19,875
Uh, I'm experienced, I'm an
expert, I'm a good communicator.

835
00:44:19,904 --> 00:44:24,045
I have local knowledge, and you can
trust me, that's what 90% of agents

836
00:44:24,045 --> 00:44:26,055
default to something in there, right?

837
00:44:26,505 --> 00:44:30,285
And, and that might be a real value that
you have, but then you have to find a way

838
00:44:30,285 --> 00:44:32,745
to either systematize it or articulate it.

839
00:44:32,835 --> 00:44:35,505
So if you're said, all right,
you know, we we're, uh, our value

840
00:44:35,505 --> 00:44:38,475
proposition is that we have, we give
a great experience for our customers.

841
00:44:38,475 --> 00:44:39,944
Well, everybody else is saying that too.

842
00:44:39,944 --> 00:44:41,235
So how are you gonna articulate it?

843
00:44:41,505 --> 00:44:45,435
Maybe you have to say, you know, Hey,
at our team we're, we're famous for our

844
00:44:45,495 --> 00:44:49,095
X, Y, Z system for taking care of our
clients, and here's what that means.

845
00:44:49,125 --> 00:44:49,425
Okay?

846
00:44:49,425 --> 00:44:53,445
Now that's an actual value proposition
around your experience that you provide.

847
00:44:53,925 --> 00:44:55,455
I don't think communication's a good one.

848
00:44:55,455 --> 00:44:57,195
'cause that should be
just be table stakes.

849
00:44:57,405 --> 00:45:00,225
But if you wanted to make it
communication, then you can say,

850
00:45:00,315 --> 00:45:02,985
Hey, at at our team, we've got this.

851
00:45:02,985 --> 00:45:03,435
Uh.

852
00:45:04,050 --> 00:45:07,530
This proven communication system
for keeping you up to date every

853
00:45:07,530 --> 00:45:11,400
single day, or we've got this 32
touch plan of whatever it is, right?

854
00:45:11,400 --> 00:45:12,750
So it has to be something.

855
00:45:12,750 --> 00:45:16,410
It can't just be these, um,
I'm experienced and I'm a good

856
00:45:16,410 --> 00:45:18,270
communicator, and you can trust me.

857
00:45:18,660 --> 00:45:20,280
You have to get something.

858
00:45:20,754 --> 00:45:23,095
To articulate and something
that you can prove.

859
00:45:23,095 --> 00:45:23,154
Yeah.

860
00:45:23,214 --> 00:45:25,674
So if it's experience, you
better have a bunch of reviews

861
00:45:25,674 --> 00:45:28,315
of people saying you, they had an
incredible experience with you.

862
00:45:28,674 --> 00:45:31,525
If it's getting a better result than
the competition, then you better have

863
00:45:31,525 --> 00:45:35,004
some listings that you sold for a
higher price per square foot than the

864
00:45:35,004 --> 00:45:36,595
market average that you can point to.

865
00:45:36,835 --> 00:45:40,254
But there has to be some systems, and
the, the more that you, the more things

866
00:45:40,254 --> 00:45:43,884
you can have in your business that
are, we have a proven system for x.

867
00:45:44,255 --> 00:45:47,585
Um, and then we can, it has a
name and we can articulate it.

868
00:45:47,615 --> 00:45:50,825
That's, you know, we've got some
building blocks of a value proposition.

869
00:45:51,095 --> 00:45:53,435
You guys still at, at NAA
had the best one ever?

870
00:45:53,465 --> 00:45:54,485
Well, the best two ever.

871
00:45:54,845 --> 00:45:57,155
Number one was, and I, it's
funny, I still remember it and I

872
00:45:57,155 --> 00:45:58,265
never even worked for you guys.

873
00:45:58,925 --> 00:46:02,975
Proven repeatable system, uh, backed by
market research to sell your home for

874
00:46:02,975 --> 00:46:05,050
up to 18% more than traditional methods.

875
00:46:05,540 --> 00:46:05,890
Right?

876
00:46:06,510 --> 00:46:09,425
Uh, that's an incredible, and then,
and then we've got the place mat

877
00:46:09,425 --> 00:46:10,835
to show how we accomplish that.

878
00:46:11,175 --> 00:46:14,565
The other one that you guys
nailed was, uh, CHSA, CHBA.

879
00:46:14,835 --> 00:46:18,795
All, all of our, all the agents on our
team are certified home buying advisors.

880
00:46:18,885 --> 00:46:18,975
Mm-hmm.

881
00:46:19,335 --> 00:46:20,115
And that, that means something.

882
00:46:20,115 --> 00:46:20,895
They went through this trend.

883
00:46:20,895 --> 00:46:23,295
That's a value proposition
to the marketplace, right?

884
00:46:23,300 --> 00:46:23,560
Mm-hmm.

885
00:46:23,640 --> 00:46:23,680
So.

886
00:46:24,390 --> 00:46:27,390
You, you can keep it,
communication, experience, you

887
00:46:27,390 --> 00:46:29,520
know, trustworthiness, whatever.

888
00:46:29,610 --> 00:46:33,420
Um, but you have to find a
real way to articulate that

889
00:46:33,420 --> 00:46:34,860
and then, and then prove it.

890
00:46:35,580 --> 00:46:37,290
Yeah, a hundred percent.

891
00:46:37,290 --> 00:46:38,250
And the proof house to be there.

892
00:46:38,250 --> 00:46:39,630
That's, that's super important.

893
00:46:40,170 --> 00:46:42,210
You know, we've talked about
it, you know, I love, you know,

894
00:46:42,240 --> 00:46:46,380
hearing Nick and, and obviously
Eric at, at Huey talk about it as.

895
00:46:46,575 --> 00:46:48,975
You know, it's been whatever.

896
00:46:49,215 --> 00:46:51,135
We're moving into the
trust economy, right?

897
00:46:51,135 --> 00:46:54,255
So what are we doing to build
trust in the marketplace?

898
00:46:54,555 --> 00:46:59,055
And, you know, knowing the math in
our business model, but also having

899
00:46:59,115 --> 00:47:05,655
a value proposition that is, we have
proof back behind it with testimonials

900
00:47:05,685 --> 00:47:09,465
and, and case studies and reviews
and people that are like, listen.

901
00:47:10,110 --> 00:47:11,220
These guys are the real deal.

902
00:47:11,460 --> 00:47:14,460
And, and that was like
even on the 18% more.

903
00:47:14,460 --> 00:47:17,190
And Brett Jennings did the best
and he, he, I was like, ah,

904
00:47:17,220 --> 00:47:18,390
dang, that was amazing, right?

905
00:47:18,390 --> 00:47:22,020
So he started taking every home
he would sell and he would show

906
00:47:22,050 --> 00:47:25,140
how they sold it for a percentage
more than what the market was.

907
00:47:25,730 --> 00:47:27,680
Square foot on average in that area.

908
00:47:27,770 --> 00:47:28,250
So I'll use that.

909
00:47:28,580 --> 00:47:28,820
Boom.

910
00:47:28,880 --> 00:47:30,950
Example, example,
example, example, example.

911
00:47:31,280 --> 00:47:33,350
So being able to have that
is, is super important.

912
00:47:33,680 --> 00:47:36,620
Once we have that, then it's
all about the magnets, right?

913
00:47:36,620 --> 00:47:38,210
It's now, it's about lead flow.

914
00:47:38,240 --> 00:47:44,210
It's all about consistent lead flow,
and your value proposition is a promise.

915
00:47:44,570 --> 00:47:47,690
Your marketing is how you
communicate that promise to attract.

916
00:47:47,750 --> 00:47:49,820
Attract your ideal clients.

917
00:47:50,240 --> 00:47:52,310
And it's, you know, it's the call out.

918
00:47:52,310 --> 00:47:55,609
It's, it's, you know, the
attention grabbers, it's the

919
00:47:55,609 --> 00:47:58,279
headlines, it's the hook, right?

920
00:47:58,640 --> 00:48:01,580
And so identify for you guys.

921
00:48:01,790 --> 00:48:03,980
What is your core marketing channels?

922
00:48:04,040 --> 00:48:05,240
Core marketing channels.

923
00:48:05,569 --> 00:48:09,200
So based upon your unique value
proposition and ideal client,

924
00:48:09,560 --> 00:48:13,009
where is the single best place
to communicate your message?

925
00:48:13,370 --> 00:48:15,529
Choose one primary channel.

926
00:48:15,855 --> 00:48:21,825
First, so, um, I don't, Renee's
not on with this, um, but

927
00:48:22,065 --> 00:48:24,165
Renee's really nailed her market.

928
00:48:24,194 --> 00:48:27,075
We've been working with her on
this, Renee Velasquez in, um,

929
00:48:27,105 --> 00:48:28,725
in the, in the Cleveland market.

930
00:48:28,785 --> 00:48:31,694
And she's really nailed
her message to the market.

931
00:48:32,115 --> 00:48:35,955
And it's, it's really those, um.

932
00:48:36,930 --> 00:48:41,640
Towards kind of getting into the
pre, getting into probate, getting

933
00:48:41,640 --> 00:48:43,470
into kind of that last move.

934
00:48:43,830 --> 00:48:47,700
Like, you know, it's the, it's the
aging, it's the aging homeowners.

935
00:48:47,730 --> 00:48:49,020
Like what, where are they going?

936
00:48:49,020 --> 00:48:49,950
What are they doing?

937
00:48:49,950 --> 00:48:50,575
Are they, you know.

938
00:48:51,825 --> 00:48:53,895
You know, what she calls right sizing.

939
00:48:54,285 --> 00:48:58,215
Um, or have they, you know,
transitioned out of the house, you

940
00:48:58,215 --> 00:49:00,615
know, is the house, you know, set up?

941
00:49:00,855 --> 00:49:04,485
Are the kids taking the house or is the
house being dumped in somebody's lap?

942
00:49:04,485 --> 00:49:05,865
They didn't even know
they were gonna get it.

943
00:49:06,285 --> 00:49:10,455
So she's really, that, that aging
market is, is really nailed.

944
00:49:10,455 --> 00:49:13,245
Her ICP and, and we're like.

945
00:49:13,980 --> 00:49:18,900
Renee, if you had one, if you
could only do one channel to market

946
00:49:18,900 --> 00:49:21,300
your message, what is that one?

947
00:49:21,930 --> 00:49:23,220
It's Facebook, right?

948
00:49:23,250 --> 00:49:25,950
Everybody 50 and older is
on Facebook, everybody.

949
00:49:26,220 --> 00:49:31,410
So she has to nail Facebook and content
and consistent content calls to action.

950
00:49:31,410 --> 00:49:35,340
Start running the, the her content
that's performing now we can juice it.

951
00:49:35,370 --> 00:49:40,050
We put some money behind it with clear
call to action, but that's her first.

952
00:49:40,650 --> 00:49:41,850
One is right there.

953
00:49:42,420 --> 00:49:47,460
Um, and so that's the primary channel
to master first, and if not, this

954
00:49:47,460 --> 00:49:49,950
rolls into Joel's, what, what we
were talking about earlier, Joel's

955
00:49:49,950 --> 00:49:51,720
concept of half, half built bridges.

956
00:49:51,750 --> 00:49:55,440
We're trying to hit every damn channel
when we need to be hitting the channel

957
00:49:55,440 --> 00:49:57,210
that our people are hanging out at.

958
00:49:57,630 --> 00:50:00,870
That's super, super important,
you know, for, for us to have that

959
00:50:00,870 --> 00:50:06,120
distinction to be able to stay
right there, nail that core message.

960
00:50:06,180 --> 00:50:06,540
Right.

961
00:50:06,540 --> 00:50:08,400
What is your core message, that statement?

962
00:50:08,985 --> 00:50:10,725
Hook story offer, right?

963
00:50:10,725 --> 00:50:11,595
What's the headline?

964
00:50:11,595 --> 00:50:12,615
What's the grabber?

965
00:50:13,155 --> 00:50:14,625
What's the promise?

966
00:50:14,955 --> 00:50:16,725
And what is this CTA?

967
00:50:16,725 --> 00:50:20,535
This is the biggest thing that I
see real estate agents miss, is they

968
00:50:20,535 --> 00:50:23,235
don't have a clear call to action.

969
00:50:23,745 --> 00:50:25,425
Tell people what you want to do.

970
00:50:25,845 --> 00:50:30,795
DM me, grab this, go to this link,
do this call here, do whatever.

971
00:50:30,795 --> 00:50:32,475
You gotta have a call to action.

972
00:50:32,475 --> 00:50:37,575
People need to be told
what to do, so hook.

973
00:50:38,069 --> 00:50:40,770
What's the promise, the story,
and then what is the offer?

974
00:50:40,770 --> 00:50:43,710
What is the call to action
that you want them to take?

975
00:50:43,950 --> 00:50:46,770
Make sure you don't miss any of those.

976
00:50:47,250 --> 00:50:49,650
And then, how are we measuring success?

977
00:50:50,100 --> 00:50:54,299
What are the, the metrics that
we're paying attention to, to

978
00:50:54,299 --> 00:50:55,710
know if the thing is working?

979
00:50:56,595 --> 00:50:57,015
Right.

980
00:50:57,314 --> 00:51:00,584
So is it how many leads, how many
new contacts in the database?

981
00:51:00,584 --> 00:51:01,694
What's the cost per lead?

982
00:51:02,055 --> 00:51:04,185
What, what is, how many
leads are we getting?

983
00:51:04,185 --> 00:51:05,774
You know, new contacts per day?

984
00:51:05,805 --> 00:51:06,944
How many contacts per week?

985
00:51:06,944 --> 00:51:07,964
How many contacts per month?

986
00:51:08,444 --> 00:51:10,004
What is our connect rate?

987
00:51:10,035 --> 00:51:12,134
What is our lead two
appointment set ratio?

988
00:51:12,134 --> 00:51:15,015
What are the two to three main metrics
that you've gotta be paying attention

989
00:51:15,015 --> 00:51:17,205
to, to know if the thing is working?

990
00:51:17,805 --> 00:51:20,084
So once we have the
lead flow in the magnet.

991
00:51:20,714 --> 00:51:24,615
Then it's, it's getting into to the
last step, which is the delivery, right?

992
00:51:24,615 --> 00:51:25,335
Fulfillment.

993
00:51:25,424 --> 00:51:26,984
So what is the service model?

994
00:51:27,404 --> 00:51:27,495
So.

995
00:51:28,350 --> 00:51:30,509
A great value proposition
is a promise made.

996
00:51:30,509 --> 00:51:32,550
A great service model is a promise kept.

997
00:51:32,940 --> 00:51:33,210
Okay?

998
00:51:33,630 --> 00:51:36,930
So it's really designing the
repeatable, scalable, and team

999
00:51:36,930 --> 00:51:42,630
driven process that will deliver
the promise every single time.

1000
00:51:43,230 --> 00:51:45,120
So you have to map the journey.

1001
00:51:45,570 --> 00:51:46,590
What happens?

1002
00:51:46,620 --> 00:51:50,040
What are the five to seven
major milestones in the journey?

1003
00:51:50,370 --> 00:51:57,690
So somebody submits information that
leads to a conversation that leads to.

1004
00:51:57,755 --> 00:52:01,175
An appointment that leads to,
what are you trying to do?

1005
00:52:01,175 --> 00:52:05,495
Here's our unique process, or up
to 18% more to help you accomplish

1006
00:52:05,495 --> 00:52:07,025
what you're wanting to accomplish.

1007
00:52:07,415 --> 00:52:10,475
We take the, the, we take you to market.

1008
00:52:10,655 --> 00:52:13,265
Either you agree to move
forward with us and then we.

1009
00:52:13,500 --> 00:52:17,580
Then we get the deal done and then
we follow up with you Until you

1010
00:52:17,580 --> 00:52:20,370
become that raving fan, that's
referring people our way, right?

1011
00:52:20,370 --> 00:52:21,690
You, you become the advocate.

1012
00:52:22,110 --> 00:52:26,370
So you have to map that, that
journey, and you've gotta do it.

1013
00:52:26,490 --> 00:52:30,870
Listen, you've gotta do it for buyers,
you've gotta do it for sellers.

1014
00:52:31,350 --> 00:52:33,900
And if you're recruiting agents,
you've gotta do it for agents.

1015
00:52:33,905 --> 00:52:38,130
You gotta map the journey for all three
because that's who you're working with.

1016
00:52:38,160 --> 00:52:40,410
You're working with three
different ideal clients.

1017
00:52:40,440 --> 00:52:41,460
You gotta, you gotta map.

1018
00:52:41,460 --> 00:52:42,360
Map that journey.

1019
00:52:43,230 --> 00:52:48,480
And one of the things that I really like,
we get into kind of this unique journey

1020
00:52:48,480 --> 00:52:53,430
process is how do you know what happens
when they move from one step to the next?

1021
00:52:54,420 --> 00:52:58,260
And in a perfect world, there's a
commitment and a deliverable, there's

1022
00:52:58,260 --> 00:52:59,940
a commitment and a deliverable.

1023
00:53:00,840 --> 00:53:04,170
So what is, for example,
you have the conversation.

1024
00:53:04,170 --> 00:53:07,890
So they submit their information,
they get what they want, right?

1025
00:53:07,920 --> 00:53:10,890
So the commitment is they gave
you the information for the thing.

1026
00:53:11,295 --> 00:53:15,435
The, the magnet and the
deliverable was the thing.

1027
00:53:15,465 --> 00:53:17,025
It was access, it was information.

1028
00:53:17,025 --> 00:53:17,655
It was a white paper.

1029
00:53:17,655 --> 00:53:18,465
It was a download.

1030
00:53:18,465 --> 00:53:19,995
It was, they scheduled a phone call.

1031
00:53:20,805 --> 00:53:23,145
Then you have the conversation, right?

1032
00:53:23,325 --> 00:53:25,575
The conversation leads to an appointment.

1033
00:53:26,310 --> 00:53:32,100
Remember the phone is designed to set
an appointment, set the appointment,

1034
00:53:32,790 --> 00:53:34,320
and then qualify the appointment.

1035
00:53:34,650 --> 00:53:38,790
And so maybe there, the commitment
is they confirm the calendar invite.

1036
00:53:38,850 --> 00:53:43,770
The deliverable might be a pre-appointment
video that they get to consume information

1037
00:53:43,770 --> 00:53:45,330
about you and your process and.

1038
00:53:46,575 --> 00:53:49,754
Does all the heavy lifting before
you actually get face-to-face,

1039
00:53:50,174 --> 00:53:52,845
maybe the face-to-face, they
agree to move forward with you.

1040
00:53:53,205 --> 00:53:55,875
The commitment is they sign,
they sign the agreement.

1041
00:53:56,384 --> 00:53:59,115
Um, the deliverable could
be a copy of the agreement.

1042
00:53:59,294 --> 00:54:02,384
So you want to be thinking as
you're moving from step to step,

1043
00:54:02,895 --> 00:54:03,790
how can you get a commitment?

1044
00:54:04,435 --> 00:54:07,645
To move to the next step, but what is the
deliverable that you can give to them?

1045
00:54:07,945 --> 00:54:10,675
That's just a great way to be
thinking about this, this five

1046
00:54:10,675 --> 00:54:14,965
to step, major milestone journey
that we're taking them on.

1047
00:54:15,745 --> 00:54:17,575
Um, define who's doing what.

1048
00:54:17,965 --> 00:54:19,255
That's super important, right?

1049
00:54:19,255 --> 00:54:23,455
Define who's doing what, um, you
know, the roles, the handoffs,

1050
00:54:23,485 --> 00:54:24,715
how does the handoffs look?

1051
00:54:25,200 --> 00:54:27,240
You don't wanna break
down in communication.

1052
00:54:27,240 --> 00:54:30,990
You want the experience to be seamless
and really define the function and the

1053
00:54:30,990 --> 00:54:34,950
role, which will become more to light
when we get into the leadership flywheel.

1054
00:54:34,950 --> 00:54:36,450
When you're talking
functional accountability.

1055
00:54:36,450 --> 00:54:40,770
But you gotta know who's doing what, um,
where are things handed off so everybody

1056
00:54:40,770 --> 00:54:43,920
knows the role in this, in this process.

1057
00:54:43,920 --> 00:54:46,800
Example, if you have a showing
agent supporting you, where's the a?

1058
00:54:46,830 --> 00:54:48,509
Where, where's the handoff
with the showing agent?

1059
00:54:48,509 --> 00:54:49,380
How does it come back?

1060
00:54:49,380 --> 00:54:50,910
How does the client not feel?

1061
00:54:51,095 --> 00:54:51,785
Neglect it.

1062
00:54:51,785 --> 00:54:54,575
They feel, wow, I've got all
of the support around me.

1063
00:54:54,814 --> 00:54:58,084
Or even the simple one is like,
when you hand it off to a tc, right?

1064
00:54:58,084 --> 00:54:59,404
Where, where does, where does that go?

1065
00:54:59,855 --> 00:55:12,305
And then, you know, um, what is repeatable
action that proves your promise?

1066
00:55:12,665 --> 00:55:13,444
Um.

1067
00:55:14,865 --> 00:55:20,025
If, if, if you're promising, um,
you know, confidence if you're, if

1068
00:55:20,025 --> 00:55:25,905
you're experience, um, simplifying
things, you know, where, where

1069
00:55:25,905 --> 00:55:27,465
are you connecting, right?

1070
00:55:27,495 --> 00:55:29,805
When, when are you making,
you know the touch, when are

1071
00:55:29,805 --> 00:55:31,545
you doing, doing the things?

1072
00:55:31,935 --> 00:55:35,235
So how are you making the
value proposition tangible?

1073
00:55:35,325 --> 00:55:38,475
That's, that's really where you want
to, to step in and think about that.

1074
00:55:38,475 --> 00:55:39,945
So I wanna recap.

1075
00:55:40,000 --> 00:55:44,020
Kind of as you guys wanna think
through this, on, on four steps.

1076
00:55:44,260 --> 00:55:45,040
Gotta know the math.

1077
00:55:45,220 --> 00:55:46,330
What's the economic model?

1078
00:55:47,080 --> 00:55:51,040
Number two, what is the promise
you're making to the ideal client

1079
00:55:51,070 --> 00:55:54,250
in the marketplace, the the
client that has the biggest pain

1080
00:55:54,400 --> 00:55:55,750
that you're qualified to solve.

1081
00:55:56,500 --> 00:55:59,590
Number three, what's the magnet
to generate the lead opportunity?

1082
00:56:00,520 --> 00:56:01,725
And number four, what's the delivery?

1083
00:56:02,834 --> 00:56:03,165
Okay.

1084
00:56:03,645 --> 00:56:05,084
How are you working through that?

1085
00:56:05,265 --> 00:56:07,334
How are you, how are
you really navigating?

1086
00:56:07,455 --> 00:56:10,064
That's the profit engine that
you wanna be thinking about.

1087
00:56:10,875 --> 00:56:12,734
Joel, I know we, we jammed here.

1088
00:56:12,825 --> 00:56:19,095
Um, I will let you kind of, any, any
final thoughts and then, um, if you guys

1089
00:56:19,095 --> 00:56:21,104
hanging out, have any final questions.

1090
00:56:21,104 --> 00:56:24,254
I know we're pushing up against the hour.

1091
00:56:24,254 --> 00:56:25,334
Joel, any final thoughts?

1092
00:56:26,145 --> 00:56:28,995
Yeah, just the like, like so
many things in business and,

1093
00:56:29,009 --> 00:56:30,075
and I guess life too, the.

1094
00:56:31,035 --> 00:56:35,925
The simplicity that we're after is on the
other side of a little bit of complexity.

1095
00:56:36,105 --> 00:56:39,825
So all of these exercises that we're
doing, instead of just ignoring or

1096
00:56:39,825 --> 00:56:42,735
flying by the seat of our pants,
we're, we're adding a little bit

1097
00:56:42,735 --> 00:56:44,205
of complexity to our business.

1098
00:56:44,205 --> 00:56:46,545
And it takes work to get
through these things.

1099
00:56:46,545 --> 00:56:49,215
But on the other side of, this
isn't a complicated business,

1100
00:56:49,215 --> 00:56:50,805
it's a simple business.

1101
00:56:50,955 --> 00:56:53,445
Um, it just takes a little
bit of work to get there.

1102
00:56:53,685 --> 00:56:56,415
So there's a, there's a simple business
that you have in the beginning when

1103
00:56:56,415 --> 00:56:57,165
you don't know what you're doing.

1104
00:56:57,165 --> 00:56:58,130
You're flying by the seat of your pants.

1105
00:56:58,799 --> 00:57:01,589
Like, that's not a good way to grow
business, but it's pretty simple.

1106
00:57:01,589 --> 00:57:03,390
You're just reacting to
everything that's simple.

1107
00:57:03,390 --> 00:57:08,129
Right now we're adding complexity
to get back, simplicity after.

1108
00:57:08,339 --> 00:57:11,339
But so the stuff that we're talking
about right now is the, is the little

1109
00:57:11,339 --> 00:57:14,700
bit of complexity that you have to add
to your business and work through it

1110
00:57:15,120 --> 00:57:18,180
to, to get simplicity on the other side
and that, and that's what we're after.

1111
00:57:18,180 --> 00:57:20,879
And now we can really talk
about scaling a, a company.

1112
00:57:21,149 --> 00:57:23,520
'cause we've, we've put some
time and effort into getting

1113
00:57:23,520 --> 00:57:24,634
the right kind of simplicity.

1114
00:57:25,455 --> 00:57:29,055
Is through clarity and through
systems and these exercises that,

1115
00:57:29,085 --> 00:57:30,255
that we're sharing with everybody.

1116
00:57:30,255 --> 00:57:31,845
So, so put the work in.

1117
00:57:31,845 --> 00:57:32,775
It's so worth it.

1118
00:57:33,975 --> 00:57:34,455
I love it.

1119
00:57:35,265 --> 00:57:36,375
Brother, I appreciate you.

1120
00:57:36,495 --> 00:57:38,055
Um, guys, tune in.

1121
00:57:38,205 --> 00:57:39,765
Um, Alan, amazing.

1122
00:57:39,765 --> 00:57:40,785
Good seeing you buddy.

1123
00:57:41,025 --> 00:57:41,625
Um,

1124
00:57:41,985 --> 00:57:42,915
castle in the house.

1125
00:57:43,095 --> 00:57:43,665
I know.

1126
00:57:43,665 --> 00:57:44,085
I love it.

1127
00:57:44,205 --> 00:57:44,685
I love it.

1128
00:57:44,835 --> 00:57:49,065
If you guys have any, you know,
thoughts, questions, you know, DM us,

1129
00:57:49,125 --> 00:57:54,345
uh, message us, um, you can, you know,
email me, email Joel, give us a call.

1130
00:57:54,435 --> 00:57:58,125
Um, we're here to support and
help you guys, uh, loving kind

1131
00:57:58,125 --> 00:58:00,705
of this series of the Power Hour.

1132
00:58:00,765 --> 00:58:01,185
So.

1133
00:58:01,799 --> 00:58:05,160
Uh, like I said, we'll be out
next week, week after that.

1134
00:58:05,220 --> 00:58:09,089
Um, week, uh, second week of December
and third week of December, we will

1135
00:58:09,089 --> 00:58:12,629
jump into the final two components,
the execution roadmap, which is the

1136
00:58:12,629 --> 00:58:16,649
90 day execution plan, and then,
uh, really get into the people

1137
00:58:16,649 --> 00:58:18,089
component, that leadership flywheel.

1138
00:58:20,160 --> 00:58:20,459
Love it.

1139
00:58:20,459 --> 00:58:21,060
Thanks coach.

1140
00:58:21,419 --> 00:58:21,689
Awesome.

1141
00:58:21,810 --> 00:58:22,620
Thanks guys.

1142
00:58:22,980 --> 00:58:23,549
Awesome.

1143
00:58:23,759 --> 00:58:24,390
We'll see you guys.

1144
00:58:26,505 --> 00:58:27,375
Thanks for tuning in.

1145
00:58:27,765 --> 00:58:31,755
If you're done guessing and ready to
lead like a real CEO with a custom

1146
00:58:31,755 --> 00:58:36,195
strategy, real accountability and
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