75: How & Why it is Important to Keep Track of Your Numbers
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Full Transcript
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Welcome to this episode of Real Estate Success Mastery Tv, what I will be talking about in this episode is the importance of keeping track of your numbers. First of all, you are your own boss, you have your own business, a business where you have the earning potential of a doctor or greater than a doctor, or even an attorney, any kind of professional, you have unlimited earning power in this business. The only way you will capatilize on your earning potential is for you to run your business, like a business. So how do you run your business like a business? One of the things I want you to do today and the focus of this video today is to keep track of your numbers.
You see, what inspired this video today is, I was on a coaching call with one of my coaching clients and here we are in the first couple weeks of January and this client, we will keep him nameless over the course of the last 4 – 5 weeks he’s been pumped up, saying Chadi thats it man, no more playing small, im going to be playing big, when January comes around, I mean the whole conversation was around when January comes around, when the new year comes around, Im going to do A, B, C and because one of the things I hold him accountable for is keeping track of his numbers, he sends me his numbers, I open it up, and I say, hey buddy your numbers are off by 20%, now we aren’t talking about the actual results, we’re talking about the actual activity.
His response was, “I’m working every single day, I swear to you I’m working like 8 hours. I tell him that you have to stop keeping track of the amount of hours, but rather the amount of activity you are getting done. You’ve got to set minimum standards for yourself and meet that standard, all day , every single day. So besides the point of the actual activities etc, the main point is two people can show up at the office, put 8 hour shifts, one outproduces the other. Why? One is focused on putting an 8 hour shift in, the other is focused on getting the most out of the 8 hour shift.
So how do you get the most out of 8 hours? Well, you measure your business by a specific set of numbers, different businesses, require different sets that they keep track of. As a real estate professional, what numbers should you be keeping track of? Keep track of the amount of the days you work, the amount of hours you’re prospecting, the amount of people you speak to, the amount of appointments you set, appointments you go on, appointments you convert, and the money you make.
Thats it, within 30 days you should be able to take a look, and those numbers will tell you what is right about your business, what is wrong, and everything else in between. You make the adjustments you need to make and your business will begin to give you exactly what it is supposed to give you. So the purpose of this video is to run your business like a business, keep track of your numbers on a daily basis, so this is it for this video, I’ll see you in the next video.
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