Execution. It’s the largest opportunity in real estate today. Simply put, that means determine what you do best, and set out to do it better than anyone else. Do this, and you’ll win every single day.
Here are five philosophies to follow when seeking to capitalize on opportunities today:
- Bring value every single day. You don’t get to decide what the buyer values. It’s the customer that decides what they value, so it’s your job to figure out the intersection between your target audience and what you do really well. If you can connect the dots in those areas, you have the makings of a really strong value proposition that you can deliver in your marketplace day-in and day-out—one that will distinguish you from the competition.
- Set the bar high. You must have aspirational goals that are also realistic and attainable; otherwise, you’ll have a hard time believing in them—and so will the people working with you. Make sure those goals are measurable so you can gauge how you’re pacing against them and course-correct if needed. Not only will being public about your goals hold you accountable, it’ll also help when it comes to soliciting ideas and insight from others. And don’t forget to recognize and reward the effort. It’s essential that you celebrate success along the way.
- Have a plan, and work that plan. I don’t care if it’s scribbled on the back of a napkin—document how you’re going to achieve your goals. Write down the action steps—no more than 10—that’ll get you to your desired outcome. Then, execute them better than anyone else. I have a one-page document at my desk that I review every month with my management team. If we determine that something isn’t working, we diagnose why before deciding to tweak it or kill it and move on. If it isn’t working, don’t keep doing it.
- Play offense, not defense. The best thing I’ve learned in business is to always play offense. In business, there’s no such thing as winning by playing defense. Instead of spending time reacting to circumstances, get ahead of what’s happening in your market, and soon, you’ll be setting the pace. Playing offense will allow you to drive your own good fortune.
- When in doubt, change the rules. If the competition is playing soccer, play football. Whatever game you’re looking to be a leader in, change the rules so that you’re doing something differently in order to get yourself and the value you offer noticed by the people that matter—your target customers. Figure out how you can change the game so that you can offer something no one else can.
Focus on these five philosophies of execution, and driving your own growth will be well within reach.
Charlie Young is president and CEO of ERA Franchise Systems LLC.
For more information, visit www.era.com.