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COACHES NOTES
Coach Ken
Coaching Magazine.
2024 - Well this is certainly no ordinary year and remarkably the year is actually turning out well for many real estate teams. Those that had great foundations, had relationships with their clients and those that weren't afraid or timid to slash costs, are now reaping the benefits.
We want to tell their stories. These are phenomenal people. People who are hyper-dedicated, with powerful mindsets. Nothing gets in their way. There is no stopping them. These are their stories.
page 2 - Coaches Notes
page 3 - Table of Contents
page 4 - Can Business Planning be Fun?
page 10 -Business Journal Focus on The Pro’s
page 12 - Family Business
page 14 - Check this out
T A B L E O F C O N T E N T S
Inoneofmypreviousnewsletters,wetalkedaboutthe importanceofplanningtimeoff. Planningforvactions, familytimeorevenolonetime,isacrucialpartoflife. Rightnowisprimetimefordoinganothersortofplanning:
BUSINESSPLANNING!!
Are you ready to start business planning? We have two exercises that we recommend you bring to your team. It takes a little work, but it can make a huge difference on the success of your business on both the individual and collectivelevel.
Let’s look at two exercises that can help you and your team(oragentsinyourbrokerage)designandprepareto implementyourpansfor2025.
“If you are struggling with planning, reach out to me and I will send you my 2025 planning template”
EVERYONE Plans and sets Goals
The first step in business planning for your brokerage or team is that it is important to get everyone thinking about how they want to move forward. Even if the goals may differ between the sales team and the administrative team, this is still an important step.
The best way to ensure that each member of your team has that set of goals and a clear direction forward is to give them the responsibility of creating a personal business plan for themselves. Task each team member with writing up an individual business plan, outlining their goals for the next year, regardless of their position in the business. You will need to provide the framework for this (blank business plan) to each team member and I’ve found that doing it together in a group is a fabulous solution.
When it comes to the administrative team, having them think about goals and objectives for 2024, and writing them down helps guide them and makes it easier to talk about accountability. It also makes your job easier when it comes time to review work performance and discuss bonusing objectives.
A written copy of everyone’s work-based goals is a great tool for determining what the entire business numbers could be for the next year and what you need to do if the numbers don’t match your goals. For example, if your team business plan calls for 100 transactions and the team members predict they can only produce 80 transactions, you will need to enhance your sales team with an additional member or two.
Collective SWOT Analysis
I highly encourage you to take the time to complete a SWOT analysis within your business and your team. This exercise is often overlooked, but it can have a huge impact on the attitude and enthusiasm of your team members. If you aren’t already familiar with the term SWOT, it stands for:
STRENGTHS, WEAKNESSES, OPPORTUNITIES,AND THREATS.
While this encourages you to reflect on how to improve your business, the real benefit comes from getting your team involved in the discussion process. This way, when you decide to implement a new strategy in the workplace to try and strengthen some of those weaknesses, your team members understand the thought that went into developing that idea.
“Even better, they were included and involved in the discussion”
You will want to set up a drawing board of sorts where you can draw out the four sections on a whiteboard or preferably large sheets of easel paper ( 20×30 Post-it sheets are perfect). Then, prompt your team with a question such as “What are our strengths as a team?” Have them write down their ideas on a sticky note and put it in the appropriate section on the whiteboard.
When you have addressed all 4 SWOT components, debrief each component in depth. Collective discussion could uncover more strengths and weaknesses to add to the board, reveal more opportunities that weren’t originally thought of, or uncover new threats.
“This discussion is where the magic happens”
While working through the notes, focus on the weaknesses and opportunities. How to strengthen the former and capitalize on the latter? You may want to some notes between sections, and that’s perfectly all right. What someone may have considered a threat could actually be an opportunity if you know how to take advantage of it, etc.
At the end of this discussion, you and your team members should have an idea of what you should all be focusing on for the business to thrive.
So, what are you waiting for? A little bit of business planning in your brokerage or real estate team can go a long way. Introduce these strategies into your workplace and see how team morale and work ethic improve with the help of goal setting and strength analysis. If you still feel a little unsure about how to implement this in your business, reach out to us. We can help!
Focus on The Pro’s
Jane Lee - The Jane Lee Team | RE/MAX Top Performers
In my business, I have had the privilege of coaching some of the most remarkable and influential women in the realm of real estate. Jane Lee embodies all these qualities and more.
What a powerhouse!
Early in our relationship, Jane graciously invited Shirley and me to her office in Lake Bluff, IL, a charming suburb of Chicago, for one of our intensive in-office reviews. This experience proved to be extraordinary for both Jane and myself. Meeting clients and their dedicated teams enhances my understanding of role assignments, team identity, and offers a comprehensive perspective on operations.
Meet Jane Lee
JaneLeeLuxury
Jane Lee is a prominent real estate broker associated with RE/MAX, specifically serving as the Broker Owner of RE/MAX Top Performers in Lake Bluff, Illinois, and Northbrook, Illinois. She leads The Jane Lee Team and is recognized for her expertise of over 30 years in various aspects of real estate. Jane Lee is well-versed in languages such as English and Mandarin Her specialties encompass various fields like luxury properties, investment properties, new constructions, and relocations, among many others. Under her leadership, The Jane Lee Team has achieved notable rankings and awards, establishing a reputation for providing high-quality real estate services with concierge service, unparalleled marketing, endless communication, and exceptional results. Jane Lee herself has received several prestigious awards in her career, including The RE/MAX Diamond Club, RE/MAX Platinum Club, RE/MAX Hall of Fame, RE/MAX Pinnacle Club Team,RE/MAX Circle of Legends Award, RE/MAX Lifetime Achievement Award, RE/MAX Chairman's Club and RE/MAX Luminary of Distinction Award. Her accomplishments have led to her being recognized as one of the top real estate brokers in the United States, with a consistent track record of excellence in the industry.
jane@janeleehomes.com
https://jl-luxury.com/
Direct: 847-420-8866
Office :847-295-0800
Family Business - Part 1
SixthingsIneedtodiscusswithyou..
if your family business or partnership is struggling it's usually because of these six things that I'm going to talk to you about. I'm going to discuss three today and and I'll discuss another three on the next magazine.
“Understand
the Vision”
What's really important is that people have to have an understanding of the vision of the company. In other words you and your family or you and your partners have to understand the vision, where is the company going. Then everybody has to agree on this. This is where we're trying to go, because you can't have one person thinking we're going to go one way another person thinking we're going to go another way. What happens is, "guess what", you go nowhere because the boat (the business) is just going in circles. People need to understand, agree with and own it.
The second thing is shared values. You have to trust and respect each other's values and character, so your shared values and integrity serve as a positive example to everybody in the business. Hey values are critical. if you don't have any values then really what are you all about?
The third thing that I want to discuss today is the partners or family members or stakeholders share a commitment to the business. You've got to be passionate about the business. You've got to respect each other's contribution. You've got to feel respected about your contribution. Your commitment to the business serves an example of commitment, urgency, passion and accountability to everybody in the business.
It's really critical that these three things that we just discussed, are done in the business. This will allow you to move the business forward.
In the next video, (Part 2) three more thoughts on how you correct a struggling business family business
CHECK THIS OUT!!
Is this Coke Can RED?
If you answered NO you are correct!
Not everything we see is truly what it is. In my business I must at all costs get to the bottom of what's going on. No one (not even a 6 year old) asks more questions that I do. My passion for understanding is relentless and the end result can be fascinating. I urge you to get curious. Stop thinking about how you are going to respond and go deeper. In my never humble opinion, Its worth it!
all you need is love. but a powerful coach, doesn't hurt.
