I’m live-blogging #AREC16 from the Gold Coast. Here are my top learnings from Vivien Yap: Persistence, Determination, Action.
Powering into the TED-talk length speakers now, in conversation with Tom Panos. Vivien was a business owner (Pharmacies) who went into Real Estate, and has had $4 million GCI years. My Top 5 takeaways:
- Vivien wrote $885,000 in her first year; cracked the million second year; third year “I wanted to crack the $2 million, so I did!”. She had a clear vision, a clear WHY.
- When Tom Panos introduced Vivien, he described her as “very nervous”. It’s a good lesson I think – here is an incredible top performer in our industry, she’s spoken at AREC in the past, and she’s human.
- Work / Life Balance is a current priority for Vivien Yap. At Real Estate Grow, we talk about businesses and agents who go through the ‘Hype Cycle’ during startup, then the ‘Profit Cycle’ when revenue starts to come in, and then the ‘Challenge Cycle’. The Challenge Cycle is so-named because if you don’t shift away from a purely commercial focus, then your business (however successful) will become a daily challenge. Sounds like Vivien smashed through the Hype Cycle (some do it faster than others) and is successfully leveraging the time and income of the Profit Cycle to prepare herself to smash through future phases as well.
There’s an important point here about copying top performers. If you are in a different cycle to them, copying them won’t work! It’s the biggest mistake I see principals and sales agents make – they see, for example, a top performer in the Profit Cycle with great work/life balance and confuse cause and effect. If you’re in the Hype Cycle, your business will live or die based on your total focus. Not 24/7 – but I don’t advise agents start thinking ‘lifestyle balance’ … start by thinking ‘if I spend the next two years doing what most agents won’t, THEN I’ll be able to spend many years after that doing what most agents can’t’. Vivien shared some of her most personal sacrifices – children and family are both the biggest sacrifice AND the biggest reason we invest the time and money that we do.
- Tom is clearly (this is the first time I’ve seen him live) a big fan of systems, routines, and habits. I’m less didactic, but I completely agree that more agents and agencies need to do it. Vivien is a great example of how it can work – your days, of course, become your weeks and your years. And her team do this commercially (Hour of Power phone calls, every day from 10.30am) and culturally (Tuesdays always include a review of how their Values are being applied).
- Have a Marketing Plan. Some offices do random marketing. Some spend less, but achieve more because they are focused (and understand their Brand). Think social media, billboards, Google AdWords, sponsorships. My clients implement the Traction Bullseye framework for their marketing strategy – focus gets you result.
Our next speaker is Alexander Phillips – live blogged here.
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Jacob Aldridge is a co-founder and business coach at Real Estate Grow.
If you’re a real estate Principal looking for fresh ways to help you work on your business, let’s chat. Contact me on either 0427 151 181 or email@example.com.
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