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Posted: 3 Sep 2009
We all know that one of the tricks to a smooth and profitable business is to systemize it. Gerber wrote his famous book “The e-myth” about it which started a wave of popularity and a new understanding of the benefits of systemizing a business. Today we have seen the franchise systemization icons such as McDonalds and the myriad of other franchise operations utilizing this principle and turning the principle itself into a business.
Most real estate companies are relatively small operations where a great deal of the responsibility comes back to one or two people. The buck stops with the principal and the rest of the people who turn up each day are more akin to employees than entrepreneurs.
This puts a huge demand on the principal. Not only to they have to keep the place running but also invent, discover, evolve and put into practice “the way” the business will operate. As with many industries, very often the business owner is the business owner because he was good at whatever the business is. How many Real Estate principals can you think of who own an agency because they are good sales people?
These people have no formal training in running a real estate business so they try to get this knowledge by attending seminars and conferences to learn better ways to make their business run. They get a bunch of really good ideas but as soon as they get back to the office the impact of day to day events means these conference thought starters get filed and only a minority of the great ideas make it into the life of the business.
Filing cabinets of conference notes contain gold just waiting to be released.
Time and specialization on an installation process is the key to getting the riches that the implementation of systems brings.
To drive it to reality it needs to become the responsibility of a specific person. Part of their job description. This is where external consultants charged with system installation give a great cost positive benefit.
They focus on getting systems in place and do not get caught up in the daily challenges of running the business. It is a clear formula for success. If you need proof, just get some notes from past conferences you have attended and look through them for a few minutes. You will see the great ideas that could generate money for you if only they were implemented in your business and the team adhered to them.
So match those notes on the shelf with an implementation plan.
And the answer to the opening question… The value of a system on the shelf is ZERO!
For more information call Wayne Hughes
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