The three essentials to building a profitable repeat and referral business.
Today I’m going to share with you the three must-haves of building a profitable repeat and referral business. You’re going to need the right mindset, a robust CRM, and a plan of action, but let’s talk about each in turn:
1. The right mindset. 80% of all small businesses fail, and 80% of new agents fail within their first year. By five years in, 87% of agents have failed. These are incredible statistics, but they can be addressed.
From day one, you should be working on getting out of your business, meaning you need to build the systems and processes to keep you out in front of people; your business needs to be systems-dependent. I also recommend reading “The E-Myth Revisited” by Michael Gerber.
2. A robust CRM. You need one place where you store all your clients’ information on day one. Having coached and mentored a lot of agents, I know it tends to be scattered around, and remember, an Excel spreadsheet is not a CRM. This is not the 1990s.
You need to have a robust CRM that can integrate with the MLS, run campaigns, make phone calls, send emails, and more. It is your rock, your main hub. Pick one and use it.
3. Action steps. I’m not going to go on and on about what you should be doing with your clients. Put simply, all you need to do is keep in touch with people and give them valuable information. Use the communication tools that we have today; call them, see them, email them, and be involved on social media. The actual action you need to take has not changed—the tools have changed.
I hope these three points helped you. If you have any questions, feel free to call or email me. I would love to hear from you.