As we begin a new year, it is good to set the tone for success and growth in our endeavors. We believe at The Profit Centre that at the forefront of any thriving business is a fundamental element that we consider to be foundational to success and that is “The Profitability Mindset.”

This is no ordinary mindset; it is the very foundation upon which successful businesses are built.  In fact, it forms the foundation of the Profit Centre's "Profitability Business Model," which provides real estate entrepreneurs with a clear roadmap to ensure the stability and prosperity of their business. In this blog post, we will explore the significance of the "Profitability Mindset" and its transformative impact on businesses.

The next trait that Successful Agents have in common is diligence, especially in the area of follow-up.

They understand the value of following up with leads and that having good follow-up is the lifeblood of their business. It’s a skill that sets them apart from the mediocre agents out there that give up too soon when it comes to follow-up.

Lead conversion rates increase when follow-up systems are in place, which reduces the effort required to generate new leads.

Follow-up falls under 2 major categories:

To continue with our Attributes of Successful Agents series, we want to acknowledge that successful agents are rainmakers. In other words, they have become proficient in prospecting.

The single most important skill you need to acquire and master is prospecting.  What is prospecting?  It is the process of initiating new business opportunities by targeting potential real estate clients.  I know that that may sound dreary to some of you, but at the end of the day, it’s an important aspect of your business to master.  Whether you are a single agent who is only concerned about yourself or a Team Leader with the added responsibility of supporting other agents, it is a must for you to master this skill.

How to get motivated?  

Getting started is always the hardest part when completing a task that you may be reluctant to do. So, understanding your ‘why’ is a good way to start.  For myself, I had a family that was counting on me to be successful.  When I started my real estate career I had a very young family with 3 small children and was completely broke.  There were a lot of FSBOs in the early 1990’s so I started calling them until the cows came home.  All I knew was that these people needed to sell their homes and why not with me?   Did I WANT to do it, or feel like it?  Heck no.  But I did it anyway because my family was counting on me.  Before I knew it I became good at it and it was a habit that I did automatically, like brushing my teeth in the morning.  It was an adrenaline rush to get an appointment and to see how many I could get in a day!  I made it fun for myself.  Find a way to do this for yourself as well.  Enjoy your business and discover compelling reasons to go after it. 

Moving on to Chapter 3 in our Attributes of a Successful Real Estate Agent series we'll take a look at adopting an everlearning mindset.

Lifelong learning is the idea that you are never finished educating yourself and growing. A very significant trait that is possessed by successful business people is that they are ever-learners.  They possess a type of curiosity about life in general, which of course extends to their business life.  

The pursuit of knowledge is easier than it has ever been before, as technological advances can relay information instantaneously to our fingertips. It’s a modern-day privilege to take this convenience and utilize it in productive ways.

Learning can take on many forms; from learning new software or skills in your job to getting new certification or training. Listening to podcasts, taking online classes, teaching new skills to someone else. Simply reading books are all a way to continue to educate yourself throughout your life.

To continue our discussion on planning for profit from my last blog, I want to reemphasize how successful people are planners who set goals and then design and implement tactics to reach those goals.  

If you want to have a thriving business practice, you must first build a business plan. It means being focused on the big picture. Once you've got your big picture, you can then itemize the steps that will enable you to achieve your goals.

Having a plan provides a gauge for you to measure your activities against what you want to achieve for the year.  You need to have a roadmap and feel like you’re moving towards your goals.  But how can you do that if you don’t have any goals in the first place?  Or if you don’t have a clear idea of what you want?

You have to start out by writing it out.  Having it 'in your head' is overrated and will get you nowhere.

I want to encourage you to put pen to paper and write out your goals with timelines and action items attached.  

What to Include In Your Plan

Let’s talk about what you should be thinking about in addition to just saying ‘I want to gross $400k this year (as an example)