Business:Management & Marketing
When we decide to become entrepreneurs, we become our own bosses.
What are some of the challenges that come with this mindset shift?
Why is it so important to resist trying to do everything ourselves?
On this episode, I talk with Thomas Elrod of High Performance Real Estate Advisors.
In just 8 years, Thomas and his team have seen amazing growth, and he shares how rethinking your role in your business can bring great results.
What you do with your time everyday is what determines if you’ll make $50,000 or $500,000. -Thomas Elrod
3 Things We Learned From This Episode
Stop doing low-dollar activities (10:20- 11:25)
Stop forcing yourself to do tasks you’re not good at, especially if they’re interfering with the activities you excel in. By hiring the right person to do the jobs you can’t do (or don’t want to), you’ll be able to focus on higher-dollar activities and allow your business to grow.
It’s not all about you (20:23- 22:43)
Create an environment where your team feels you are serving them. Until you become selfless in your business, your team won’t feel appreciated. In contrast, if you serve your team, they’ll become more loyal to you. This will ultimately benefit you, your team, and your business.
Hire a coach (31:58- 32:41)
There is always someone who has more experience than you. Why not hire one of those people? Coaching is a non-negotiable step in building your own business. If not only to learn from their teachings, then for the accountability. Either way, you can’t afford not have a coach.
Many entrepreneurs create businesses that are a shrine unto themselves. Whether from the name of their company, or the way they deal with their team, this has the potential to hinder your success. Create a team of partners, rather than employees. Find someone to keep you on track. Most importantly, strive to create something where your team can one day outgrow you and help scale your business. The sooner you do these things, the closer you’ll be to achieving your goal of business freedom.
Thomas Elrod first developed an interest in running an organization when he worked as a ball boy for the Carolina Panthers from 1995 to 1997. Seeing first hand how marketing and management, among others, worked together at an NFL level, he decided to apply what he’d seen to his next venture: co-owning a General Motors dealership. After the 2008 financial crisis caused the dealership to close, he decided to join the real estate industry. After trial and error, and a name change, today, Thomas is the co-founder of High Performance Real Estate Advisors. Here, Thomas and his team managed to take his business from 3 to 365 deals in less than 8 years.
To find out more about Thomas, head to: https://www.kw.com/kw/agent/elrod
List of books Thomas recommends:
4 Principles to building a Profitable Real Estate Team (Part 2)
4 Principles to building a Profitable Real Estate Team (Part 1)
To Scale, You Must Simplify
Your Culture is Killing You
Three Things a Team Leader Must Do Before Noon Every Day
How to Strengthen Your Hiring Process and Avoid Common Mistakes w/Brannon Potts
Why You Should Have More Control Over Your Money w/Jim Oliver
How Real Estate Team Leaders Keep the Faith When Times Are Tough!
Learning from Failures and Having a Plan w/Andy Green
How to Make Sure Your Business Is Bringing You Time, Money, Freedom, and Reduced Stress
How to Foster Healthy, Robust Growth w/Greg Miller
The Rise of iBuyers and The Death of Marketing As We Know It
How to Focus on What Matters Most with Human Performance Expert Jairek Robbins
The 4 Immutable Laws of Lead Generation
Mindset Hacks for Top Producing Agents w/Jet Xavier
What the Zac Brown Band Can Teach You About Growing Your Business
The Craziest Things I’ve Heard from Big Players in the Industry
How to Stand Out in a Sea of Real Estate Agents w/Ray Wood
How to Recognize and Solve “People Issues” on Your Team
Greg & Stephanie Sisson on Their Growth Journey to 300+ Sides & The Lessons They've Learned
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