4 Disciplines & Tactics to Operate Your Business Like A BOSS! | #TomFerryShow S1:E1

4 Disciplines & Tactics to Operate Your Business Like A BOSS! | #TomFerryShow S1:E1


– Does your morning routine
get you so fired up, so focused, so stoking
the fire of your ambition, or does your morning
routine have you saying, “Not another Monday!” (upbeat music) Hey, welcome to the Tom Ferry Show. Today, I’m answering a question about the three non-negotiables every successful agent should have, and the four most important disciplines that need to be in your
schedule to absolutely crush it. Let’s start, though, with a question by one of our clients, Katie Day. – Hey, what’s goin’ on? This is Katie Day with the Move Me To Texas team in Houston, Texas. I’m a big fan of the Tom Ferry Show, so thank you guys for all that you do. My question is, outside of
a powerful morning routine to start your day off strong with meditation, personal
development, a workout, gratitude, journaling, et cetera, what are your top three
non-negotiable daily habits that you’d recommend to real estate agents to do each day to help move the needle? Thanks so much. – Thanks Katie, that’s
an excellent question, and I’m certainly going to answer it. I’d love for you right
now to pause the video, and whatever social channel
you’re on, or on my website, stop and write down what are your three non-negotiables every single day? (upbeat music) So welcome back, I hope
you took action on that. I can’t wait to read your comments and I know Katie will, as well. So Katie, I’m not gonna
give you some theory, I’m gonna tell you what I
know the very best people do. In some combination, the very best people do a morning routine every single day. Now, you’ve got a morning routine, I’ve got a morning routine. The question is, does your morning routine get you so fired up, so focused, so stoking the fire of your ambition, or does your morning
routine have you saying, “Not another Monday! “Oh my goodness, thank
goodness it’s Friday, “I’m taking this weekend off.” Both of those actions or mindsets are created by the
morning routine you run. So whether it’s
affirmations, or gratitudes, or exercise, we know, just
read The Miracle Morning, it’s old school at this point. But that’s number one. Number two is obviously looking at what we call the daily hot sheets. I don’t know a successful
agent that doesn’t, every day, look at expireds, canceleds, withdrawn, new escrows, new closings,
to get a pulse of the market. Remember, if you truly wanna be the expert in your area, you have to have the numbers, bam! So when someone says, “How’s the market?” It’s not just, “That depends, you know, “buying, selling, et cetera,” you can also say, “Well right
now in this part of town, “this is what’s going on, “in this price point,
this is what’s going on, “tell me more specifically
what would you like to know?” So that second non-negotiable
is market intelligence. Knowing exactly, on a
daily basis, the pulse of buying and selling and pricing and more. And number three, Katie,
not gonna surprise you, it’s booking an appointment. It’s scheduling an appointment. I was with one of top
clients just a few days ago, and what made this individual
so wildly successful is when they finally
realized that their job every day was to find or follow up on, and ultimately book, an appointment. And guess what? Even a lousy appointment with
a future potential seller is better than just
sitting inside the office. That discipline of booking
one appointment a day, with a buyer, with a
seller, with a past client you’re gonna meet for coffee, that may sound simple, but when you’re booking that appointment every day, you’re getting into the
most important discipline of sales success. And that is making sure
that you’re reaching out to the right lead sources, getting an appointment,
and meeting with them to help them achieve your goals. So Katie, I hope that helps you. I wanted to talk about
those three non-negotiables, then I wanna answer a much bigger question as you reflect on your business. Now, I wish I could ask
every single one of you, maybe we should do it, I’ve
already polled you once by asking you to write down
your three non-negotiables, but maybe as you’re watching this, type in the comments below how long have you been running your business? How long have you been
running your business? And maybe for a few of us, how many businesses
have you been a part of? Well, what if I told you that there’s really two kinds of entrepreneurs, two kinds of loan officers,
real estate professionals, title, escrow, et cetera. There’s people that
are running a business, and there’s people that
work in the business. And I would argue there’s
a distinct difference, and a massive disparity in
income, between the two. Are you operating this as a business? Are you running this like a business? Versus, I’m busy hustling,
trying to sell a house, trying to get a deal done (panting), versus being strategic and thoughtful, and a little more quantitative and a little more analytical, not all the time, just
a couple hours a week where you really think about your business before you get back out
there and work your face off. You and I both know, it’s
almost cliche, right? It’s talked about all the time. You gotta work on your
business and in your business. So I wanna take that one step further, and move from sort of this conversation to some very tactical
things that you can do, by way of the result of a survey we did with our top coaches, meaning tenured coaches,
the length of time they’ve been doing it, more than
10,000 hours of coaching. We all know the rule,
10,000 hours to mastery. So someone that’s been doing
it for 10,000 hours, right, is at that mastery level. Then we asked our top most
consistent growth clients, meaning year after year after year, they continue to build their practice, generate more referrals,
define their skills, define their marketing,
so they continue to thrive regardless of market conditions, essentially the same question. What do you talk about
on your coaching calls? What do you talk about
on your coaching calls? And interestingly enough, when we looked at the data on both, they were exactly the same, and I’m gonna share with
you those four things. Now, you might say,
“Well, wait a minute Tom, “I don’t have a coach.” Well, maybe in this case you
need to be your own coach. Maybe you need to have a
buddy inside the office. Maybe you need to go to
your manager and say, “Can we spend some time on this?” Maybe you need to be part
of a mastermind group. You need to be resourceful. You don’t wanna be one
of those guys and gals that’s runnin’ around with their chicken with their head cut off, with no plan, no strategy,
no market intelligence, no data, just all ahh! Versus a lot more strategic,
playing the long game, thinking through the market, understanding the business intelligence, making good decisions, and then going out and
being a salesperson. You with me? That subtle difference. So, not everybody has a coach, but you can do this on your own, and of course, whenever you’re ready, you know where to call. So, let’s look at the four together. Now, what the client said was, “I spend 70% of my time,” so
70% of their coaching session, working on one of, or
multiple of, the four. So I would argue, whether your cadence was an hour a week you
worked on your business, or two hours a week, probably even better, to work on your business, these are the four things
I’d ask to be on your agenda. Number one is, of course,
your business plan. See, there’s two kinds of people. People that don’t set goals, don’t have a plan, and people that do. And when you even look at the “do” group, the people that actually took the time to go tomferry.com, to
fill out their plan, to write their goals, to
get ’em up and visual, even that group, they separate again. There’s the people that write it and say, “Here it is, I’m done,” and
then there’s what I want. Which is you write your
goals, you write your plan, and on a weekly basis
you’re reviewing ’em. On a weekly basis, you’re looking at, “I said I was going to
do this, where am I at? “What’s the pivot or
adjustment I need to make?” No different from in a couple days I’ll fly from Los Angeles to New York City, they say that that pilot or that airplane is offtrack nearly 85% of the time. It’s doing this, “Okay,
I wanna go to New York, “but look, there’s a little weather, “oh, we’re gonna need
to go a little lower, “need to go a little higher, “wind’s pushed us this
way, wind pushes that way,” but eventually we land in New York City. The challenge that most agents have is they write their plan,
they write their goal, maybe they get it up and visual, but they don’t keep it top of mind. They’re not in the discussion of, “Hey, I said that this month I was gonna “send this many emails, “I was gonna book this many appointments, “I’m supposed to get this many listings, “supposed to make this many sales,” they’re not holding
themselves accountable to what they said they were going to do. Now you and I both know, when
you hold yourself accountable, you get better results. When you say, “I’m too busy, oh man, “I’m so busy, I’m so busy,”
you don’t do anything. You run around like a chicken
with your head cut off. You know what I’m talking about. So number one is, in that one to two hour work on your business session, scheduled every single
week in your calendar, you’re gonna review your
business plan, your goals, and how are you doing
in relationship to ’em. Now, the second one may sound the same, but listen for the variation. They said that in that 70% of
their time with their coach, they are looking at what we
call business intelligence. Now, the business intelligence means I’m gonna look at three things. Trends that are happening in the industry. I want to stay abreast
of what’s going on in the real estate market
so when a consumer says, “Can you tell me about,”
(snaps) I know what to say. I’m not caught off guard. Or, if I’m looking at this trend, I can then say to my coach, “Hey, I saw this, did you see this? “Does this fit my area? “Does this fit my market? “If it’s a threat, what
are we gonna do about it?” Ignorance, my friends, in today’s real estate
business, is not bliss. You’ve heard me say before, you don’t win championships
playing defense. In the real estate business,
in the sales business, you win championships playing offense. To play offense, I need to know what else is happening in my business. So that’s the first one. The second one is I wanna
review the market trends. So you’ve heard me talk about,
just a minute ago with Katie, that I want her looking at her
business intelligence, right? The daily hot sheets. You need to understand
what markets are moving and what price points are
moving, and what isn’t. Both for opportunity as
well as marketing purposes. So you can speak
intelligently to consumers. So since you’re doing it on a daily basis, that one little snapshot may only be a comparison of this is what is happening in my market to my business. Hey, my geographic farms are all in price points that aren’t moving, that’s why I’m taking a bunch of listings that are overpriced and not selling. Business intelligence tells me I need to spend some time repackaging, repositioning, amending,
or reducing the prices, or getting these people off the market ’cause the current trend
is saying that X price isn’t moving, or the supply and demand is going against my customer’s favor. Now, if that sounds a little analytical, I’d like you to consider
you’re running a business. You’re running a business. And you can make so much
money, and help so many people, if you’re just a little more thoughtful. I know you’re taking notes, I
know you’re paying attention, you might even watch this video, you know, just a couple minutes of it,
before that weekly session, as the reminder of why this matters, and why it’s so important. And, of course, the last
one, as I mentioned, is you’re gonna review
your own numbers, right? So, similar to your business plan, I wanna look back and say, “Over the last week, how am I doing?” I wanna book an appointment a day, I wanna have X number of
conversations every day. I wanna do Y result at my open houses. I expect this return from
my investments in marketing. So I’m looking at the
business intelligence. The trends that are
happening in the business, what’s going on in my market, and what’s happening with my business as it relates to the other two. That one, my friends,
could be 15 or 20 minutes, but boy oh boy, I tell ya, when you have the data
and you know the numbers, you, your confidence goes up. You can’t wait to go talk to customers, ’cause you start connecting the dots between whether it’s prices, or trends, or new consumer
opportunities, or, you know, what’s happening with Amazon and Realogy, and everything else that’s goin’ on, you are on the pulse, being
the best agent in your town. So that’s number two. Inside of their 70%, or in your case, your one to two hours a week, number three is they review
their marketing plan. Now, you’ve heard me say before that all business is
innovation and marketing. All business is innovation and marketing. Now, if we stop innovating, meaning improve the customer experience, improve how we do what we do, if we’re not doing that
every 12 to 18 months, you and I both know your
business becomes very stale. Both to you and, most importantly, to the people that you’re marketing to. You’ve gotta create those
degrees of separation. You’ve gotta make it obvious, the old example you’ve
heard me say before, I’m walking down the potato chip aisle and my spouse said, “Get
chips,” and all I see is a thousand different options, how do I select you? This is that time when you
sit back and you look at here’s what’s happening in my business, this is what I said I was
gonna do in marketing, this is what’s working,
this is what’s not working, what new things do I wanna try? What new tests? Do I wanna create a couple new postcards? Do I wanna alter my email campaigns? Do I wanna finally sit down and shoot those nine BombBomb videos to have them ready to go every time I meet
a prospect, as an example. This is where you’re
working on your marketing. Dedicated time, focused, to make sure that your marketing is positioning you to be the obvious choice. The whole game today is everyone has seven friends in real estate, how do we have you be on
their consideration set? So when they’re thinking about buying or selling real estate, when they’re thinking about
referring their friends, the marketing you’re doing, right? The touches you’re doing put you at the top of the consideration set. You don’t want ’em going
to another website. You don’t want that lead
to show up someplace else. That client, here’s the worst thing, and you probably had this before, you get a lead from any one of those 36 different referral sites, and you’re like, “Oh,
this is gonna be great,” and all of a sudden you get
on the phone and you go, “Martha, I’ve known you for seven years.” “Oh gosh, Tom, I’m so sorry, “I just went on this site and I “found you and I clicked on it,” they don’t know that you’re now paying a 25 or 35% referral fee. They were just looking at real estate, trying to find a great agent. They’re like, “Oh my
goodness, there you are,” they click on it ’cause they
know you, like you, trust you, and they have no idea what that cost you. That’s on you, because you’re not spending enough time
on your marketing plan, creating the degrees of separation, creating the familiarity
that we talked about, the relevancy that we talked about, so you get the trust and
you get the phone call. Make sense? So inside of the 70%, business plan, business intelligence,
marketing and regeneration. What’s new? What do we need to do that’s better? How do we improve? How do we touch more customers? How do we become more relevant? You’re spending time there, and then the last one, number four, people, systems, and organization. You’re running a business. You’re running a business. This is your business, right? How organized is it? Do you know where everything is? Are you running your business by checklist and systems and software, or by memory? You’ve heard me talk about it before. This is where you’re
gonna sit back and say, “Okay, I’ve got this CRM,
I’ve got this website, “I’ve got these social channels, “I know how I do a pending transaction, “I probably need to
redo my listing launch. “I don’t think I’m getting
the results that I want “from my listing launch.” And you pick one of the many, you know, components of your business
and you focus on that one. Let’s improve the listing launch. Let’s have a goal that says
every time we launch a listing, we get three come list me calls. What would it take to launch a listing and get three come list me calls? What are all the things
that we can test and try to improve the business
and make it turnkey, so every time I take a listing, (claps) the same exact thing happens. Does that make sense? Every time I do a open house, I use Spacio or another, and the customer
information is inside there, the second I’m done, I walk outside, I shoot a video of me
in front of the house, “Thanks for coming by my open house “at 1234 Banana Street today. “If you or anyone you know is
interested in this property “or would like to have access
to a few pocket listings, “contact me today. “Tom Ferry, 555-1212.” And that video just
automatically loaded up through BombBomb and Spacio, goes to every person that
just came to your open house. Standing right in front of the
house so they see the visual, and it feels custom ’cause it is. You just didn’t say, “Hey Larry.” Does that make sense? See, if you’re not spending time improving the level of service, and the processes that you
have inside your business, guess what? Every day is come on seven. Now, I don’t know about you, I like gambling now and then with a few shekels I don’t care if I lose, but I’m not putting my
family in harm’s way. I’m not putting my clients in harm’s way. I’m not putting my business in harm’s way. If you’re not spending
time on a weekly basis improving how you do business, what the customer experience is, how they experience you, I would argue, I would
argue with you, my friend, are you truly committed to this business? Are you truly committed to your success? And of course, you heard my say people. That means every week, and it’s pretty typical for one of our coach and clients to talk about how do I help the person
that’s on my team? Or how do I hire that first assistant? Or how do I better
leverage my escrow officer, my title rep, my loan officer, all the people that are
involved in the transaction, how do I better network
with them, work with them, support them, so they do the
same for me, and guess what? That is what the very best clients and the very best coaches are
working on every single week. So stop for a moment. ‘Cause you might be sitting back, especially if you’re in, and, truthfully, I’m
very much this way too, if you’re a little more artsy and fun and you just
love people, I do, too. And you know what I found? When I finally took the time to organize my business and hire
the right people around me, I was able to express my art on steroids. I’m looking at three
people inside this room right now as I shoot this show, I used to shoot this show
on a Flip video camera, hit the button, lean back,
do my thing, go over, hit the button, and then
enter it into YouTube, you know, “Do you want to enter?” Yes. I used to do that, too. But guess what? What got me there would never get me here. And the same rule applies to you. So I challenge you. No, I double dare you, for a few of us that
are a little bit older, you remember that? – Well I double dog dare ya. – I double dare you to carve
out two hours every week in your schedule, create this agenda, and begin to take action on it. Slowly over time, my friend, even the most artsy of artsy people you will begin to bend and shape and shift your business into something that not only creates a lot of opportunity and revenue and profit for you, it serves more customers
in a beautiful way. That, along with the daily
three non-negotiables, and this year, and next,
will be your best year ever. Thank you for your comments. Can’t wait to see more. Maybe share this with a friend or two, maybe with a buddy that you could do these meetings together with, and work together on your business. Thanks so much, and
we’ll talk to you soon. Take care.

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About the Author: Oren Garnes

29 Comments

  1. Thanks for this video!

    This was a great first thing I did today – watching this is powering me up for one is the best days Iโ€™m going to have experienced in 2019! ๐Ÿ‘๐Ÿพโ˜บ๏ธ

  2. To everyone whoโ€™s just starting out like me, good luck and Iโ€™m wishing success to everyone! ๐Ÿ˜Š๐Ÿ™๐Ÿปโค๏ธ

    I just started this channel and currently have only 40 subscribers but Iโ€™m pumping out valuable content everyday! Mostly because Tom Ferry is such an inspiration to keep grinding! Thanks for the support and continued success to all! ๐Ÿ‘Š๐Ÿ˜‰

  3. I love the amount of motivation you pack into just a twenty minute video!!! Makes me want to take action. Thank you!

  4. Tom this was much much needed to hear! My business is growing so fast and Im just running around crazy! Typical ADHD person. My new full time assistant starts tomorrow and I need to force myself to slow down because all the flaws in lack of organization and game plans are kicking my butt! Im taking time off today to work on these things and start scheduling it in my week! Good stuff sir!

  5. Hi Tom. You always give the best advice. I am a new agent (4 mos). I have realized that my current brokerage is not for me. I have seen this environment before (I am prior service and 20+ years as a government contractor). I am ready to move, have found, after interviewing a few, a brokerage I am excited to go to. My question is how d I go about announcing that? I will have to change my business socials but beyond that? I have no clients so that makes it easier. Appreciate your advice put! Karen in Montana

  6. 3 Non Negotiables –

    1. Morning schedule
    a. 3:45am – wake, water, prayer, Yoga
    b. 4:00am – meditation
    c. 4:15am – spiritual program
    d. 5:00am – affirmations (w/ EMOTION)
    e. 5:15am – coffee, gym
    f. 7:00am – home, shower (w/ visualizations – Health, Service, Wealth)
    g. 7:30 – LAUNCH
    2. Spend time with a mentor
    3. Achieve or take a tangible step towards achieving a goal

  7. Risk Management Reminder for CA Realtors – Make sure you have the PVR – Photo and Video Agreement Release signed, as well as Property Images Agreements signed with your listing prior to promoting the property on your social media. Both were new forms releases from CAR in the past 8 months

  8. Tom, love your stuff! All the things you talk about can apply to my industry (insurance ). Can you start something for the insurance industry?

  9. This is one of the most impactful videos you have produced, Tom!!! Thank you! Loved Summit btw! Row, row, row!!!

  10. Needed to watch this for sure!!! Great info to start getting back on track.

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