03/16/2020
KWBug
Keller Williams family,
Make no mistake, weâre in a shift. Itâs a different one than weâve ever seen before. Its cause in and of itself warrants caution. We owe that to ourselves and everyone around us. The health challenge that has shown up in our lives is very real. It must be respected and we must take all necessary actions to keep each other safe.
The economic effect of this challenge is both uniquely real and surprisingly familiar. Itâs called a shift, an economic shift. This isnât the first one and it certainly wonât be the last. Shift happens. And when it does, you must shift with it. You need to pivot quickly. If you donât take action, youâre literally turning your business into a game of chance. And thereâs no reason to do that. The actions are simple and highly effective. Theyâve been time-tested and proven.
Make no mistake, you need to pivot. You need to pivot today.
So what do you do?
In 2009, Jay, Dave, and I wrote a book called SHIFT. It was written on the heels of what turned out to be called the Great Recession, one of the most harrowing financial periods in American history. And, we came through it. We survived. And then, we thrived. Because we shifted.
What SHIFT teaches us is as relevant today as it was then. And hopefully, you will pick it up and read it. The prescription that we lay out in the book proved to be not only accurate, but when taken seriously and implemented, highly effective.
As a way of re-introducing you to what we wrote, Jay and I sat down and put these thoughts together for you. Itâs time to pivot.
1. Wake Up and Pay Attention
Make no mistake where we are. Donât let how you feel about this situation dictate what you do about it. When youâre dealing with less, you must do more. This isnât a choiceâitâs an imperative.
Although it sounds trite, what is still true is that tough times call for tough-minded people. In normal times, rising tides keep all boats afloat. When tides recede, only boats that respond appropriately stay in the game. All others are grounded.
In 1979, musical artist Kenny Logginsâ father was sick and facing uncertain odds. Unwilling to allow his father to slip into complacency, Kenny wrote these heartfelt words to his father, in his famous song âThis Is Itâ:
There've been times in my life
I've been wondering why
Still, somehow I believed we'd always survive
Now, I'm not so sure you're waiting to hear
One good reason to try
But what more can I say
What's left to provide
You think that maybe it's over
Only if you want it to be
Are you gonna wait for a sign, your miracle
Stand up and fight
This is it
Make no mistake where you are
This is it
Your back's to the corner
This is it
Don't be a fool anymore
This is it
Kenny wrote this song to his father as a way of saying âYour situation is real. And you need to get up and get after it.â Today, we all face a similar moment. We need to pivot and face our new reality.
2. Learn to Live on Less
Thereâs an old saying, âa penny saved is a penny earned.â This applies to dollars too. When a shift happens it pays to understand that the first dollar you make is the dollar you donât spend. The way you do this is to lower your expenses.
The real power of this pivot is realizing that reducing your expenses is not a one-time event. Cut expenses every month for the rest of the year. Make it a game. And donât forget to acknowledge and reward those who help.
Review everything. Review every line, every month. And donât stop until January 2021. Youâll be amazed at what you would have missed each time. Youâll often be encouraged by how once you cut something, the next month youâll discover that you can cut even more.
And please remember, financial pivoting isnât just a business conceptâitâs a personal one too. It doesnât help to lower your business expenses if you donât keep your personal expenses in check. Why save one dollar when you can save two. Learn to live on less.
3. Double Down on Leads
Dig into your goals and determine how many leads youâre going to need to achieve them. It is an absolute certainty that it will take more leads to accomplish your sales goals today than it did yesterday. This is why you double down.
Think of it this way. The number of people out there you can do business with is never zero. There are still people that need you, youâll just have to work twice as hard to find them. Even in 2011, the worst year of the Great Recession, the number of sides per agent was nearly the same as in 2019. Make no mistake, thereâs still a lot of opportunity. Thereâs just less. So you must pivot and get more.
Dust off your lead generation options. Choose the ones that make the most sense. Time block a minimum of four hours a day for lead generation. And never stop.
4. Lean into the Market of the Moment
To succeed in a market, you must understand it. No two markets are the same, which means a solution for one wonât necessarily work in another. Take a step back, look around, and identify the opportunities your market today has to offer. Every market will explain how you can best work in it and how people can best make it work for them.
Whether itâs the type of property, the price of the property, the financing of the property, the type of seller, or the type of buyer, each market always has its own unique combination to unlock. When youâve talked to enough people youâll understand what your market has taken away and, more importantly, what it still has to give.
The market will show you where you need to pivot.
Every shift leaves an opening. A reason to stay in the market. Every problem eventually presents a solution. A way to help someone when they need it most. Today isnât yesterday, and tomorrow isnât determined. When the desire to do more comes from a place thatâs bigger than ourselves, anything is possible. Potential can become reality. When we pivot, we help others pivot, and together we all have the opportunity to achieve more.
Onward,
Gary Keller
Keller Williams Logo
Keller Williams Realty International
1221 S. Mopac Expy. Suite 400
Austin, Texas
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