Part II PartIII PartIV
MINDSET-RUN A TEAM LIKE NO ONE ELSE: What, How and Who to hire in order to lower turnover rate and move towards passive income.
Most owners, be it real estate or other business category, start thinking about who to hire before they figure out how to hire or even what they’re hiring for. What is the most important thing when hiring? Is it the smartest person? The hardest working? The most meticulous? How about an outside the box thinker? The answer is ‘you missed the 1st steps’. The problem is 3 fold. Most of us only think we know what we’re hiring for, but in reality we don’t. I fell into this trap. And even on the rare occasion where someone does actually know in detail the job description they’re trying to hire for, they then fall into the next trap of not knowing how to realize when you have the right person. Our hire looks good up front but in 6 months will they be everything we thought they’d be? Most of the GOOD real estate teams have a 30% turnover. The average is closer to 50% each year. That’s crazy. I can tell you right now what the reason is. It’s because most team owners don’t treat this like a legit business. I’m not knocking anyone because I got caught in the same snare myself. Like I stated in an earlier post, I don’t think we need to make 100s or 1000s of mistakes in order to succeed. That’s way too much work. I want to make as few as possible. Luckily for me I had some amazing people around me in my life, from my coach Steve Olson (Tom Ferry Coaching), Jeff Ryder (my 1st team leader) and other more distant figures (like the leaders at KW) who some I’ve gotten to talk to in person, and others I’ve only read their stuff, but I’ve learned a lot from other people’s mistakes. So I want to do what they did and help others not make the same ones I made.
Most team leaders hire their teams as individual contractors for the most part, so I think they don’t take it as seriously as they should. They see someone they kind of like and figure…what the hell, let’s give it a shot. But really, who cares what you call them. Whether they’re a contractor or employee, you still stand to lose a large sum of money on each person who doesn’t work out. TAKE THIS SERIOUSLY. Imagine you could be at a 5% turn over rate or less. It’s totally possible. Imagine the peace you could have, the friendships you could build, and the money your entire team would make. Because this is so serious I’m going to do this post in a 4 part series. It is so important to do this process right. If you don’t you’ll end up making hires that hurt you or your entire team. Again, it’s a mistake I personally made. I had one person (that was actually a super nice person, and a good agent) that was continually unsatisfied and it rubbed off big time on everyone else. It caused half the team to leave. I’ll tell you I never made that mistake again. From then on I hired like my life depended on it. And you’re an idiot if you fail to realize that your life does depend on it. You can use your own imagination to figure out all the horrible things that could happen if you hire the wrong person, so I won’t go into details on that.
HIRE LIKE YOUR LIFE DEPENDS ON IT. You can have this amazing peaceful, successful, enjoyable life or you can have a crazy, stressful, fly by the seat of your pants kind of career where you’r always putting out fires or doing the work of those you’ve hired are suppose to be doing. You decide which life you want. The people you hire WILL make that difference. HIRE LIKE YOUR LIFE DEPENDS ON IT. I can tell you right now, I love my team. I mean I love them like I struggle to not give in and kiss them all when I see them. Seriously, there are leaders out there who struggle not to strangle their team. I struggle to not snuggle them too much. Now there’s problems that pop up and we get mad at each other sometimes, but bottom line is that they’re an unusual group of amazing people. You’ve got to do it differently than anyone else. It’s like modifying one of Dave Ramsey’s quotes. “Live like no one else, so that someday you can live like no one else” I love that quote. Live like no one else so that some day you can live like no one else. That’s so profound and yet so simple. Just modify that slightly. “RUN YOUR BUSINESS LIKE NO ONE ELSE SO SOMEDAY YOU CAN RUN YOUR BUSINESS LIKE NO ONE ELSE.”
So start today. Run your business like no one else. Follow the process. Figure out exactly what your team could be someday. Figure out what this job position your’e hiring for could look like 5 years from now, and hire the person who will fit that job in 5 years. Learn the hiring process. Learn how can you legitimately be 90% sure when you bring someone on that they’re going to be a lifer, and then figure out the final step. Build your next hire’s avatar. What does this person look like. If you do this and are successful at it, you’ll then be able to run a business like no one else. You’ll have a team that can run without you. You’ll have a group of competent people who are all going in the same direction. A team that pushes you to be better and to grow. Because you started out running your team like no one else, you’ll be able to step back and run a team like no one else.