RISMedia's Real Estate Magazine

MAY 2016

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/668992

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Page 87 of 118

RISMedia's REAL ESTATE May 2016 83 While it may seem like a fve-bell alarm, realistically, it's just a wake- up call, alerting you to the fact that it's time to make a few changes to get the ball rolling again. As with anything, if your business doesn't continue to grow, it runs the risk of being left behind as the market around it changes. If you're looking to shake things up, here are fve key areas you'll want to take a closer look at. 1 Communication If your business has experi- enced steady growth, chanc- es are you've expanded your work- force. Excellent communication throughout the entire organization involving both delegation and de- tails is crucial. Every team member must fully understand their role, their responsibilities and to whom they are accountable. 2 Trust This is a two-way street. The entrepreneur must complete- ly trust their management and their team, and in turn, they must fully trust their team leader. When team members can't trust their leader to not abuse their authority, they'll look for opportunities elsewhere. When leaders don't trust their team, they begin to micro-manage, looking over everyone's shoulder, second-guessing every detail. This can also prompt good talent to walk out the door. 3 Systems Every system needs an over- haul at some point, and your business system is no different. The best systems build on the strengths of the entire team and contain the hardcore structure that the team needs to effectively achieve results. Input from team members who work with the systems on a daily basis can expose areas that are weak and need revamping. 4 Motivation A plateau can be caused by something as simple as dwin- dling motivation within the team. Entrepreneurs are self-starters that run on their own built-in warp drive, making it diffcult to under- stand that not everyone is like them. If your team seems low on motivation, get creative and rev them up through a team-building experience, a contest, or any other incentive that's likely to reinvigo- rate them. 5 Willingness to Change A resistance to change is often the culprit behind pla- teaus. The marketplace is con- stantly and rapidly evolving, and your business must adapt or risk becoming extinct. What worked well yesterday won't necessarily work well today. Keep your team and your business model in a per- petual state of evolution. Plateaus rob you of success and make hard work worthless. They're invisible enemies, slowly infltrat- ing your business, hidden in plain sight. With the right strategies, knowledge and foresight, you can avoid plateaus and keep your busi- ness on a continual upward trend. RE Ken Goodfellow is one of the top real estate coaches in North America to top agents, brokers and teams. He is well-known for taking high- producing agents and real estate companies to the next level. For more information on Coach Ken and coaching programs, visit www.goodfellowcoaching.com or email ken@goodfellowcoach- ing.com. 5 Ways Your Team Can Break Through a Plateau by Ken Goodfellow I t happens to professional athletes, weightlifters, REALTORS® and real estate team leaders alike. Regardless of how well-established or successful your achievements were in the past, at some point, you'll likely hit a plateau. It follows that you can't simply keep doing the same thing and expect the results to keep skyrocketing.

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