Setting Meaningful Obtainable Yearly Commitments ( Goal Setting Recharged)

This podcast was created by Real Estate Professionals for Real Estate Professionals; Brokers & Agents a like who are looking to “LEVEL UP” their business and their life WITHOUT all the BS and FLUFF. Each show has actionable information you can put into practice immediately and take measurable action so that you can experience measurable results!

This Episode is our Flagship Episode and we chose this particular topic because all too often in business and in life we say we're going to do something, we talk about what we are wanting to do, we talk about how nice it would be if we could accomplish....., we put it out there for the world but we never put the plan in place to get there...

 This podcast episode we walk you step-by-step through how to take control of your destiny this year and how to set up the accountability to  ensure it happens, and if we miss our mark and it doesn't happen we will have the  actual data on why it did not.


Free Gift:   Step by Step "Micro-Course" that will walk you through the tactics we spoke about today in the show, you can download, add notes, and use to help to keep you on track and accountable....
Click below For Free Access to "Setting Meaningful Obtainable Yearly Commitments (Goad Setting Recharged) Micro-Course:

https://powerhousegbs.clickfunnels.com/optinsqjke3m2

If you are looking to "LEVEL UP" your Real Estate Biz and are you are not sure where to start, or you are looking for a different Perspective than that you have been hearing check us out...

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To Your Everlasting Success!!!

Transcript

Unknown: 0:01

Welcome to the level up your real estate business podcast. This podcast was created by real estate professionals for real estate professionals who are looking to level up their business and their life without all the BS and fluff. All right, hello, and welcome. My name is Lucas Rowell, and I am your host. Very, very excited to have you with us today and welcome you to our flagship episode, setting meaningful obtainable yearly commitments, goal setting recharged, and do not worry, it is not too late to get started and have an absolutely incredible 2022. So each show our objective is to give you the tactics behind the strategy. So you can immediately put into practice what you've learned, because measurable actions lead to measurable results. So let's jump right into it. For me. Personally, I've always had a difficult time with goals, because the word goals is really kind of a lofty thing, right? So quick little funny story, you know, and again, I don't say this to be crass or mean or rude or anything. But just to prove a point, when I was growing up, there was a neighbor that lived next to myself and my younger brother. And one day, he came over to me, and it stuck with me since I was a little kid when he came up. And he said, you know, my goal one day is I'm going to become a dinosaur. Okay, so I've unfortunately lost contact with that particular neighbor, I don't know if he ever became a dinosaur or not. But you know, the thing behind goals, right is a lot of times why these fail is because people say something they want to do, but they don't have the plan behind it. So what we're going to dive into today's how to actually take that that word goal, you know, and kind of pull it outside of the of the realm where it for most people exists, right? It's kind of right next to New Year's resolutions, right, which most of the time by the second, third, fourth day, you know, maybe you make it through the first week into the second week or third week, things start to fall off, right. So what we want to do this year is we want to if you want to have an absolutely incredible knockout of the park year in your business, what we're going to jump into today is going through, you know where it is where the destination is that you want to go, the why behind going to those destination, and then the tactics and the roadmap on how to get there psychologically, the difference between a goal and a commitment right? There, there's a reason that you'll come across people who have been engaged for like 234 or five years, and again, nothing against that. But to me, when I look at that, I think you look at commitment, okay? Commitment is a really big word, right? It's a really heavy word goals tend to kind of be thrown around here and there. So when someone commits to something, okay, they're committing it psychologically, it has a lot deeper impact, you know, whether you realize it or not, when you're committing, and you're saying, Yes, I'm committing to do this, I'm committing to do that, you know, you're making a promise with yourself that, you know, you don't want to break. And just the psychologically, there's just there's a shift, and that's what we've seen, you know, with with our agents, we went from zero to this year, we'll do about 150 million. And what I use that with every single day, when we're looking at I'm coaching agents, is I look at it as a as kind of like a social experiment, we look at the things that work, the things that don't work, it's kind of a research and development all the time and kind of putting it theory into place, testing it, seeing if it works, seeing if it doesn't readjusting, you know, and going back at it. So what, what I found is when we switched from setting yearly goals to setting yearly commitments, the agents really, really dialed in, okay. They started to they made it their own, they're like, Okay, this is this, I want to achieve this. And now we're going to make it happen. So, you know, there's just, there's just changing out that one word can make a huge difference in your business and in your life. But the reason, again, that most goals and resolutions fail, is people don't understand why they're making it like what is the whole reason when you said, Okay, I want to drop X amount of pounds, or I want to, you know, earn X amount of commission or I want to sell X amount of houses. What's the reason that you want to do that? Like, what is the why behind it? I know it sounds a little cliche. Some of you are like, Hey, listen, I'm done hearing about wise. But again, it's that why behind the things that you're doing is going to be what drives you through. It's going to be the rocket fuel that's going to help you through when, you know when you're going through the difficult times. It's going to be that thing to help you to get through those. And when it comes to the good times, it gives you a reason to celebrate and look back and you know, a little bit more past just the, the wind or the money that comes with it. So looking at why it's so important to you this commitment that you're making to yourself, your family and your business, and then also what does it do for your life when you accomplish it? Right. And most importantly, what happens if we fail to accomplish that, right? So there's an old adage, when we fail to plan, we plan to fail. So this is where we kind of fall off the train there for most people is they set that destination, but they don't set the path on how to get there. So that's what we're really going to be diving in today, and identifying what that why is behind it. And then also bringing into the mix, really what what we call the key or the glue. So we'll get into that here very shortly. So part one is understanding our why. So how do we understand our why one of the most important things and I'm, I'm not sure if you do this already, but this is something that you know, that I learned from coaches, mentors, you know, introspection is really, really important having that time to look inwards and say, Okay, what is it that drives me? What what's super important to me? Why is whatever it is that we're doing, why is that success important? Having that, again, having that why, and I know, it's just it's been overplayed, and people have been talking about it. But it's because it's important, it's because to have that success, you need to have that behind it, there needs to be a reason for the action. Otherwise, that action isn't going to continue, it needs to be a strong reason for that action. So I don't want you on this part, right? I don't want you when we're sitting down, we're identifying our why, you know, maybe you have a piece of paper, maybe you have a notepad open on your phone, when you're identifying this, why I do not want you to just write down money, okay? It's not just money, we need to peel back the layers of that onion, and say, Why is it money? Or why is it this? Or why is it that and really break it down? You need to be that white kid, right? So if you write this down on a piece of paper, in your notebook, wherever you have it, you need to look at and ask yourself, why, why is this important to me? And if you cannot answer that question, you very well may not have identified the why that's really gonna help you push through and make sure you accomplish the things that you say that you want to accomplish. So understanding this, again, is going to be a very critical point. And a critical part of your of the success of your commitment, that's going to create that fuel to power through the inevitable struggles that lie ahead and, again, give you those reasons to have those wins, and a reason for celebration. So again, the commitment is our vehicle. Our Why is the jet fuel to get us there. So for some of us can be family, friends, freedom, philanthropy, it's different for everybody. So jumping right into the next part of this year, part two, would be identifying your destination, what we call this as an annual macro wick, if you will, wildly important commitment, it's going to be a specific item over a specified amount of time. All right, and an effective way to break that down and plan it out, is to bring it into smaller categories. So here's some categories that have worked for us. So if you've got your sheet of paper, you've got your notepad, or if you're going to come back to this, how we've broken this down and having a lot of successes, what I want to accomplish personally. So this could be a wellness type of accomplishment, spiritual mindset, etc. But you want to make sure you get it down. And then business development commitment. What does that look like? What would you like to focus on in your business, maybe it's improving bottlenecks in your business, delegating more tasks, creating more efficient systems, getting professional association set up getting a coach, you know, whatever that looks like, I don't want this to be a number or $1 amount, it should be some kind of process or some kind of intangible in your business, that's going to help make your business just that much better. So the next thing is going to be lagging measures in volume. So what is that? So leading measures are actions that you are doing to create a result, and lagging measures are the results. So leading measures are the things that you're doing lagging measures are the results that you're getting? So this is why we call these lagging measures. So lagging measures and volume lagging measures is where you're going to put your total business sales volume that you would like to earn. Okay, then moving into lagging measures are a number of properties. So for real estate agents, or teams or brokers, this is what you're looking at saying okay, I want to have a total number of properties that I'd like to sell. And sometimes for some folks, this is difficult to put a number on this. So what you can do is you can work backwards from your commission on how much you're hoping to earn Okay, and then so your last lagging measure is total is going to be earned commissions. So lagging measures in this section are going to be taking on Commission's that you're committing to earning this year. So and again, behind those numbers. You really need to have a strong line. Otherwise, more often than not, you're not going to we don't see those accomplished or If you do accomplish it, there isn't as much of a a win as much of a feel of of accomplishment. Again, one of the easy ways for folks have never broken this down before is going ahead and saying, Okay, how much is it that I want to earn this year, whether that be 100,200 300 500 600 800, whatever that looks like, whatever that number is for you go and pull out your calculator, and put in the total amount that you want to earn. And then what you're going to do is you're going to divide that number by either 2.53%, whatever the commission rate is, in your area, and then what that's going to do is it's going to give you a total volume. Alright, so for just example, purposes, let's say, I want to make $300,000, I'm gonna go ahead and divide that by 2.5%. That's going to give me a total volume of sales needed of 12 million. Okay? Now, what you're going to do from there is, then you're going to say, Okay, what is the total price point, or excuse me, the average price point in my market, you're going to go ahead and get that average price point in your market. And then you're going to go ahead and divide that number, or excuse me, divide 12 million by that number. And then what that's going to give you is, it's going to give you the total amount of units or total amount of properties that you're going to need to sell, then you can go ahead and divide that by 12. So that can again break down to give you the total amount of units per month, that little equation was probably the easiest way that I've found to really kind of break this down. And and put some numbers together. If you want to go ahead and take this even a step further and equate in your brokerage commission split as well, what you're going to do is you're going to put in again, that total number that you want to earn. So for this example, let's say we want to make$300,000, we're going to divide that again by 2.5%. And then in our calculator, we are going to put another division symbol and let's say we're going to put in, let's say your split is 75%. What that's going to look like is that's going to spit out a number of you would need to do 16 million to accomplish that 300,000 in commissions to you, okay, we're not talking GCI, we're talking commissions in your pocket. So now that your brain is spinning, with all that fun math, let's jump into Part three is creating the path to get there. So what we want to do is want to take those macros that we put together in the last exercise, and now we want to break those into smaller obtainable, measurable actions over a measurable amount of time. So I had a mentor of mine, that I once went to him with this large problem. This is when I was much younger, I was in the vacation ownership industry. And you know, he, he saw that I was bewildered, he's like, Alright, how would you eat an elephant? I looked at him. And I said, What? What do you mean? How would I you know, if it's like, how would you eat an elephant? I said, I, you know, I'm not entirely sure. He said, he looked at me said, Lucas, you do it one bite at a time, let's take this large picture, let's take this large destination, let's take this large issue. And let's break it into smaller obtainable steps. So that A, we can get momentum with the success of each one of these steps and be that bigger, broader problem, that issue it doesn't look so it's not so large anymore, right? When we have smaller actionable steps, and we're checking those off, checking those off, checking those off, and before, you know, that big problem is now a big solution. So I would put that forth. And when you're looking at this, and if you've never done this before, again, it can be a little daunting at first. So please don't get overwhelmed, please don't put it down and say, Hey, I just can't do this right can't is one of those words in my household that's right there up with the with the swear words, right? It's how can I write and figure out how you can do this and where you can get to so we're going to talk about at the end, but we also have if you are having issues you can always jump into we have a Facebook page with level up your real estate biz, we also have a private group as well on Facebook, and we're looking at setting up a discord as well. And then obviously, if you're on our team, we can jump on Slack, you just you got to keep going, you got to put this down, you gotta if if of course you want to have you know, large measurable results in your life and your business and really kick, you know, kick this year's butt. So we got to take those macros and we want to break them into smaller obtainable, measurable actions over a measurable amount of time. So we do this by taking those macros that we just put together and we are going to work backwards. So you want to put those down on a piece of paper if you can. I always like writing stuff down to start and then I move it into digital. I actually use a remarkable tablet. I don't know if you all have seen those. It's kind of like writing on paper but then it takes everything and makes it so you can actually have a digital copy uploaded I'm not paid by remarkable but again, great, great product something that I use I'm actually using for our podcast no to that we're going off but anyway, whatever you're using however you're doing this, take your macros and you want to separate them so then we can start to work backwards from them. We already did out the equation to figure out your number break that down into how many properties what type of commission right we already we already worked through that and then we divided it by 12 Hopefully. So now you know how many properties it is per month. So now what we need to do though is work backwards from there. How many pendings? Is that going to take? Right? So what is what is your drop off rate? How many whenever you're you go pending? How often do you go from actually having that pending? Go pending and actually closing? Okay? So in some markets, it's much higher. For some agents, it's much higher, for some, it's much less. So you need to kind of start to look at those numbers. And then what you want to do is work backwards from there. Right? How many average showings? Do I have? How many average showings? Does it take me before I go under contract before I send my first contract, understanding that because again, working in averages, it's gonna help you to forecast out your numbers, and then moving that back even further to say, Okay, how many calls does it take for you to build those meaningful connections? Where people feel comfortable with you to go out? And do you know, either a physical showing, or a digital showing, you know, how does, how does that look for you? So you want to do this with all of these pieces, okay, not just your volume goals, not just the, you know, total number of properties, and you want to look at your business development commitment and say, Okay, if if we're creating a particular task, or if we want to, you know, get a coach or whatever that looks like, what are their steps to work backwards from you've you put the where you want to go your destination, and now we need to look at the actual steps to get there. And you need to be honest with yourself in this part. Otherwise, this really doesn't end up working very well. Last but not least, the key to holding this all together is consistency and accountability, we're many typically falter here is we tend to be very general with the things that we want, because it allows us to generally never lose, right? We as humans do not like to feel uncomfortable. So we need to be very specific with the things that we want. And if we did, or did not accomplish the things that we want, and that we set out to do. A big part of that is a self accountability being, as we mentioned, very specific, rather than general. But then also something that can really help supercharge that is having an accountability partner, that accountability partner, that could be a friend, a family member, a colleague, accountability Coach, could be someone in the level of your real estate biz community, you know, we're strong believers in that community brain. So whoever it is, though, you just want to make sure it's someone that's going to be able to like jump on a call and meet in person, text message, I don't feel I feel like you kind of being that it's a passive communication rather than a real active communication. I think that sometimes it's tough, too tough to utilize just that, for accountability purposes. But you can certainly use that in conjunction with some of these other ways as well. But find that person that is not going to take your BS, you know, they, you want them to have a copy of your commitments, and they should be comfortable having that tough conversation with us. Did we accomplish it? Did we not accomplish it? If not, why? And if we did, why we need to set that up on regular intervals, whether that's daily, weekly, monthly, quarterly, whatever is going to work best for you. Everybody knows themselves. But what I would say in the beginning, probably weekly is your best way. So what are they doing? Well, you set your macros, right, and then you created your micros, which is a measurable action over measurable amount of time. So set your your micro up with okay, this is my micro task for the week, you discuss that with your accountability coach, and then you go out and do it. And then when you meet with them again, they're gonna ask you, you know, what was it that you accomplished? Did it help move the needle for further for you? Did it help your business improve that decreased business? Did you say the same didn't really see results because these types of things, when you're looking at this, it's going to help you become more efficient, effective and productive in your business and more direct in the things that you're doing. Not only is the accountability going to help you accomplish the things that you're caught that you put down, but it's also going to give you a really good litmus test on are the things that you're doing moving the needle forward for your business? Or is it just busy work? They should be comfortable having that tough conversation? If not, why, if I did why, and with that said, you want them to kind of take down some notes if if they are willing to, and you want to be taking down notes as well, you want to have that hard inner conversation when you're talking to these people. Like man, I did accomplish this. And this is why and this is what I learned from it or, you know, I really didn't accomplish it. I kind of and this is why right and until we can have that difficult conversation with someone else and internally, or we're going to be doomed to be stuck in that comfort zone. And you know, just mediocrity, it's when we take accountability for those actions. And we look at how they help us or how they hurt us. That's when we can really get to that next level and really find find that the things that we want in life come much easier. So another thing that works really well on our team, we use smaller groups to help hold each other accountable. So that's also can be can be fun in a in a direct way to help hold ourselves accountable is to also you know, be someone else's accountability at the same time. So they're holding us accountable. We're holding them accountable, and it can kind of take some of the uncomfortableness out of that as well. But also, you're not just letting yourself down. If you don't do it, you're letting your accountability part Under down, so again, it's just there, there are different ways to do it. But the main thing is it just be very specific with the things that you're looking to accomplish and have somebody that's not going to take your BS, okay? So one of the ways that we can hold ourselves accountable is having a copy of those commitments in front of us. So we see these daily, okay, so wherever your workspace is, you should really have a copy of the macros, and as well as those micros or the specific micro that you're working on. So you have that when you have that in front of you regularly, and you're doing work and you're looking at this subconsciously, we tend to gravitate towards the things that are going to help us to accomplish the thing that we want to accomplish. And if we're working on something that doesn't really help us with that, it tends to help us kind of have a gut check if you will, or hold ourselves accountable. So it's really important to have those visible in your workspace, wherever you are, that you spend a lot of time doing your business within. So you're able to, again, help keep yourself on track. One of my favorite sayings is consistent persistence produces consistent results. Alright, I'll say that, again, consistent persistence produces consistent results. So to recap, today, what we talked about is we identified our why we identified our destination and our annual macro wick or wildly important commitment, then we charted that course to help us to get to that destination by use of micro commitments, right, which, again, are measurable actions over a measurable amount of time. And lastly, but most importantly, we discussed consistency, and accountability, and how these are the keys of accomplishing this as well as anything else in our business and in our life. So listen, there's always going to be roadblocks, trials, tribulations, nothing new, done well ever comes easy, okay. And I'm a strong believer in community, and the power of that community brain. So if you're having difficulty, if you're having issues, please don't just stop, okay? Because the best way not to get to where you want to be this year is just to get to that roadblock or that pain point and just stop doing it shutting the computer shutting down, you know, throwing that piece of scrap paper in the trash. You gotta you have to stick with it. And you know, I know for some of us, it's difficult to have those accountability coaches, or whatever that case is, maybe you don't feel comfortable doing that with a family member, friend. So follow us on our level up real estate biz page, we also have a private Facebook group where you can jump in request access, or excuse me request access to jump in. And that's myself and my team are in there, we can answer questions. We are building that out where we're posting videos, we're also looking at getting a discord set up as well. And, you know, if you're on our team, you can jump on Slack and send us a message. And then lastly, if you're in the south Florida market, Miami to the keys, and you're looking for that move that could forever change your life and your families, you know, reach out to us through our Instagram prey, excuse me, Instagram page. The link to all these social medias will be in the description of the podcast. You know, let's have a conversation. Let's see what that looks like. As I mentioned, we founded our team down here with Robert slack back in 2017. And we have since been able to grow and have some incredible impacts in the local community and have some agents doing some absolutely wonderful and incredible things. So looking forward to possibly hearing from you and looking forward to seeing you within our communities. So within that description as well, we are going to be starting to place some things called one pagers that are there to help you out as well. They give you a little space that kind of goes over some some text, it gives you a video walkthrough, and then it gives you some areas to put some notes. So that's also a really great way to stay organized. So whatever it is, and however you do it. The main thing is just get started. If you get stuck, we have a community you can reach out to us as well by email, but probably the best way to reach us is within that within that private Facebook group and or on Instagram, and we'd be happy to help you out. So until next time, this is Lucas Rowell signing out and wishing you everlasting success in your life and in your real estate biz.