What Does It Take to Become a Successful Entrepreneur?
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Colorado Springs Real Estate Careers with Jason Daniels
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A few tips for new or aspiring entrepreneurs
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What does it take to become a successful entrepreneur? I’m often asked this question by fledgling business owners, and it’s no wonder: Entrepreneurship comes with its fair share of risks. Because of that, developing good habits and practices right from the word go is very important.
Above all, success in your entrepreneurial pursuits depends on your determination. You need to make sure you’re determined to achieve the goals you set out to achieve. More than just fame or fortune, it’s about your value proposition. If the value of what you’re selling goes above and beyond what people are paying for it, you’re sure to succeed.
In one of my previous videos, I discussed the importance of being an early riser and sticking to a morning routine, which is a key ingredient in your success as an entrepreneur as well. If you missed it, you can check it out here.
In addition, I’d recommend reading the book “Traction: Get a Grip on Your Business” by Gino Wickman. In it, he provides a blueprint for strategic planning and setting quarterly “rocks” or goals. Whether you’re just now getting your business off the ground or you want to take it to the next level, reading this book will help you map out where you want to go.
"If the value of what you’re selling goes above and beyond what people are paying for it, you’re sure to succeed."
Your focus will also be instrumental to your success. The more you focus on fine-tuning your sales and marketing, the more your focus will expand to not only reach the people who know, like, and trust you, but to create new lines of communication with people in the marketplace.
You’re probably wondering how many hours a week you’ll have to dedicate. It’s important to discipline yourself to treat entrepreneurship as a job. When you’re first starting out, you can probably expect to work 10 to 12 hours a day, six or seven days a week. Eventually, you’ll need to return to a healthy work-life balance, but in the short term, being an entrepreneur will demand your undivided attention and a lot of time, energy, and effort.
If you have any questions about today’s topic or you’d like to schedule a one-on-one consultation, don’t hesitate to reach out to me. I look forward to speaking with you!
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More episodes from Colorado Springs Real Estate Careers with Jason Daniels
To Go Wide or Deep When Farming in Real Estate
Farming is an effective lead-generation strategy, but there is more than one way to do it. Here are two of the most common.
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When you’re farming an area, is it better to go wide or deep into that area? With most agents, I find that it’s better to start by going deep with a small farm and building out from there. If you have more time than money, it makes sense to go deeper instead of wider at first.
It could be a neighborhood you live in, where your office is, or where your kids go to school. Pick an area with anywhere from 50 to 300 homes. You can knock on doors, hand out brochures, and make a connection with the community.
If you already have a presence in your farm and have the money to spend on marketing, you have the luxury of going wide. You can farm a much larger area of thousands of homes by going wide.
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Start by picking an area with 50 to 300 homes.
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Start by picking an area with 50 to 300 homes.
The key focus should be on your budget and your goal. If you go wide, you can't go as deep if you don’t have a large team helping you. That’s why I encourage going small and deep at first, then start going wider once you know the community better.
If you have any questions for me about farming or the real estate business in general, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
What Is the Purpose of Circle Prospecting?
What is circle prospecting and why should agents use it? Let’s discuss.
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Agents often ask me what the purpose of circle prospecting is, so let’s get to the bottom of this common question today.
Before we get to this, though, allow me to quickly define circle prospecting for those who may not know.
Circle prospecting is essentially a method of contacting potential leads by reaching out to people within a certain mile radius around a particular home. One of the most common ways to do this is by purchasing and calling reverse directories.
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All in all, circle prospecting is a fantastic technique all agents should utilize.
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All in all, circle prospecting is a fantastic technique all agents should utilize.
Now that we’ve covered what circle prospecting is, let’s move on to what its purpose is. There are actually many different reasons an agent might use circle prospecting. You may use it to advertise open houses, let buyers know about local listings, or to see if anyone in a given area is interested in selling their home.
The bottom line is that circle prospecting brings you business. Circle prospecting will mostly bring you sellers, but it can bring in buyers, as well. All in all, it’s a fantastic technique all agents should utilize.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
How to Generate More Traffic for Your Open House
Want to generate more traffic to your open house? Here’s how.
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How do you market your open house to generate more traffic? There are a lot of ways to advertise an open house, but the days of just placing an ad in the newspaper and putting up a few signs are over. With that in mind, I want to share with you the steps my team and I take for all our open houses that always generate a lot of traffic. First, you must advertise your home online. There are a lot of websites (Zillow, Realtor.com, etc.) that allow you to do this, in addition to the local MLS. Also, whenever we do an open house, we email every agent who has sold a home in that ZIP code and invite them and their clients to attend. Additionally, we use paid advertisements for the property on Facebook.
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The days of just placing an ad in the newspaper and putting up a few signs are over.
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The days of just placing an ad in the newspaper and putting up a few signs are over.
After that, we call residents in the surrounding neighborhood and invite them over. If we have time, we’ll knock on the doors of the same houses we’re calling and hand these people a personalized invitation. Sometimes, we’ll host a private open house for neighbors only, which allows our agents to meet with them before the general public is invited. The people who attend this pre-open house might be thinking about selling themselves and are on the lookout for a good agent, so not only are you attracting traffic to your current listing, but you’re also attracting other future seller clients. If you have any more questions about how to generate traffic for your open house, don’t hesitate to reach out to me. I’d love to speak with you.
The Importance of Tracking Leads
Running a successful real estate business becomes much easier when you know where your revenue is coming from, and today we’ll explain how tracking your leads can help you do just that.
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Regardless of the industry, every business owner should track where their revenue comes from, and real estate agents are no different. You have probably heard this before, but you truly need to be tracking your leads.
Why?
The bottom line is that tracking your leads helps you to make sure that you’re spending your money and your time wisely. All you need is a simple spreadsheet to determine where your clients are coming from. If you identify that most of your clients tend to come from a certain source, you can then redirect your time, money, and energy accordingly.
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It’s all about finding what makes sense for you and your business.
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It’s all about finding what makes sense for you and your business.
If you’re tracking your leads and leveraging your resources correctly, you should be making at least twice as much as you’re spending. If something isn’t bringing you a high return (or any return at all), then it may be time to scratch it off of your schedule.
Once you get the hang of tracking your leads, you may find it beneficial to invest in CRM software that will do it for you. It’s all about finding what makes sense for you and your business.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
3 Tips to Improve Your Listing Presentation
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First, the key to differentiating yourself in our marketplace is providing a pre-listing packet you either have delivered or deliver yourself to the seller before the meeting. In my packets, I provide information that details the benefits of hiring me and what they can expect when working with me. This way, they have most of their questions already answered before we meet face to face and we can get down to business and get the listing agreement signed.
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If you haven’t already, put together a pre-listing packet you can give to buyers that outlines the benefits of working with you.
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If you haven’t already, put together a pre-listing packet you can give to buyers that outlines the benefits of working with you.
So if you haven’t already, put together a pre-listing packet you can give to buyers that outlines the benefits of working with you. Don’t talk about why you’re the top agent in the area or ramble about how many homes you’ve sold—stick to what kind of value you provide them.
Second, be on time. If you show up just five minutes late to an appointment, you’re in trouble. I recommend showing up at least five to 10 minutes early and then, at the agreed-upon time, knocking on the door and introducing yourself. If the seller is speaking to other agents, there’s a chance some of them will be late to their appointments, so they’ll be impressed with your punctuality.
Lastly, don’t spend too much time in the seller’s home unless they have a lot of questions. Some agents like to spend half a day in their would-be client’s home, but they’re not planning on you spending a half-day there. Keep things professional, build a rapport, and ask for a tour of the home so you get a chance to connect with them about something. If you find a connection point, don’t focus on it, because that will distract from the reason you’re there in the first place.
If you’d like to talk more about improving your listing presentation, don’t hesitate to give me a call or schedule a consultation. I’d be happy to speak with you.
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