Mentoring Series Step 3 - How to WIN the game!
We have covered the “Rules” as well as the “Tools” of the game in parts one and two. Now, we get into the mechanics behind how we go out and WIN the game! We all must start out looking into what is a win. For everyone it can be different, but here are a few items that should be considered:
- What is my income target?
- Do I have a priority between units & dollar volume?
- What is my time commitment to this effort?
- Do I have a team or am I going solo?
- Where do I want my business to come from?
- Who is my customer?
Without clearly understanding what winning looks like, it is impossible to make a plan on achieving that outcome. The next part of this is breaking down the actual math behind the effort/outcome equation. Results are not often instantaneous; they are likely a result of a very measurable process. Without taking a measure of how your process converts into outcomes, you have no way of understanding how your efforts are paying off over the long term as well as where you can improve on your conversions. A few things you must track and understand the ratios of, are:
- What is my efforts prospecting?
- How many opportunities do I generate?
- How many credit pulls resulted from those opportunities?
- What percentage of the credit pulls were able to move forward?
- How many people was I able to preapprove?
- What percentage of my preapprovals went into contract?
- How many of those contracts did I convert to closings?
Answering these questions and tracking this information will draw you the map to the success you have committed yourself to achieving. Everyone has a different model, but the important piece for you will be knowing exactly what to be working on, and how that work results into the outcomes you need to succeed!
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