Accountability in Business

by kevinjones on November 14, 2012

in Author

Realty Professionals  805-474-7040  by Kevin Jones.  A Master Mind Group Top for 21 Nov 2012 led by Kevin Jones as the call moderator.  What is Accountability?  Why is it so important?  Accountability for your daily activities is vitally important for your long term success, consistency and design of a duplicatable business model.  One of the hardest things in real estate to conquer is the cycles, the ups and downs and usually they are much more related to our mindset vs. the market.  So how can this be done?

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There are many ways, one on one with another individual, a friend, family member, co-worker, peer or coach for example.  Call in to them as you begin and call in again with your numbers when you finish your prospecting session.  By doing this it will allow the other person to give you a response and feedback based upon your production that day and hopefully they are doing the same so that you can provide each other with positive, supportive and uplifting reinforcement.

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What if the person is not following through with their commitments?  How do I tell them and still stay positive?  By asking questions.  I see that your numbers are a little low today, what happened?  Are you committed to finishing up later today to reach your goal?  A new commitment to finish up or abandon the goal is in order.  If the goal is too hefty then maybe a realignment is in order to lower the goal to a more attainable number with the expectation to increase to the previous number by a specified date.

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The key is to be tough with them in a reinforcing and supportive way but do not let them off the hook.  Many people can and will get slimy if they are allowed to, this is why the Military is tough on the discipline and it is the key to their success.  In business we don’t have the forced regulations but the technique of a disciplined accountability relationship can be quite healthy for all parties and areas of your lives!

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Another form of Accountability can be group or public.  This would be in a forum, a public display or open arena such as Facebook.  Here is a link to a page that we are starting to implement as a Group.  If you are a real estate agent that follows the Mike Ferry system, feel free to join us and let us know how we can keep you more accountable!  This is one of the more aggressive accountability systems but it really works!

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To be Accountable you have to first have a goal.  Lets say you set a goal to speak with 25 new contacts a day, 5 days a week which will be 125 per week.  This is a very achievable goal. At the average 220 days worked a year that would be 5,500 contacts a year.  Even at 100 contacts per closing that would be 55 deals per year!  Is the accountability worth it?  You betcha!

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So what numbers to I need to track to be held accountable?  Contacts, Leads, Appointments, Listings Presentations, Listings Taken, Listings Sold, Buyer Showings, Buyer Contracts Written and Buyer Closings.  With these numbers we can after a short while determine how effective you are in each area of Buyer and Seller.  Also if you can source your leads as Past Clients, Sphere of Influence, For Sale by Owner, Sign Call, Door Knocking, Mailers, Advertising, Open House, etc.  This will let you know exactly where your business is coming from (source).  With these two primary areas it will allow you to monitor, track and be held accountable to a higher level to be able to serve your clients better!  Wishing you a POWERFUL day and looking forward to seeing you at the Top!

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NOTES FROM CALL:

About Accountability:  Reinforcement of doing it for someone else and for self, declaration to third party, making and checking off from the lists, keeping your word and making it rewarding.

Mindset vs. Market:  Huge part of your why, consistency in schedule, feeding the pipeline, real estate happens in waves, preparation while the tide is out, mindset is everything.

Accountable to:  Coach, husband, coach, partners, via phone and email.

Tracking: Repairs vs Sales and how many items per receipt.  Contacts per hour (6.5) go from 6 to 8, then 8 to 10, listings per week, contacts and time.

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Kevin Jones, Real Estate Broker specializing in Pismo Beach Real Estate and the Central Coast.  Call today 805-474-7040

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