Systems are an integral cog in the machine that is real estate business development. However, few are aware of how important of a role the right systems actually play in the daily lives of some of today’s most successful investors. In fact, it’s not the least bit hyperbolic to suggest that systems are the single most important reason investors are able to accomplish so much on a regular basis. After all, systems, or at least those that have withstood the test of time, are the simplest way to replicate success. No other strategy, at least that I am aware of, can make success as habitual as the right system.
All things considered, systems are an elegant solution to a rather antiquated problem. We have all heard that there aren’t enough hours in the day, but I am hesitant to accept the well-known sentiment at face value. I am not convinced each day doesn’t provide us with enough time; quite the opposite in fact. If for nothing else, there are plenty of hours in the day, provided you are efficient with your time. Not surprisingly, nothing can impart efficiency over the course of business development more so than the right system.
Business systems are so much more than drafting a blueprint for the way things should be done; they represent the act of making success nothing less than expected. That is to say, proven systems allow those who implement them to replicate successful activities regularly, and without a significant margin of error. But I digress; implementing business development systems is easier said than done.
To expedite your business development strategies, you must first mind due diligence and understand what it is you hope to achieve. Only once you are conscious of your own aspirations can I recommend moving forward with the following systems to foster proper business development. Let’s take a look at the step-by-step process I recommend for developing systems in your own real estate business.
1. Preform an unbiased evaluation
In order to understand where you are going, you must first identify where you came from. It’s worth noting, however, that while not a revolutionary concept in and of itself, there is a lot of truth behind such colloquial facade; truth that can turn into groundbreaking actions. If for nothing else, real estate investors intent on business development can’t possibly know the direction they intend to head until they comprehend the weight of where they currently are. That said, it’s in your best interest to preform an unbiased evaluation of your current strategies.
What are you currently doing that is working? Better yet; what’s not working? Take a serious look at what “systems” you currently have in place and take note of where improvements can be made. It’s important that you are unbiased; don’t give yourself slack where non is due. Only once you have identified where you stand can I recommend moving forward with your business development.
2. Leave no stone unturned
Provided you have thoroughly analyzed the systems and processes you already have in place, you should have a better idea of what is working and what isn’t. It is worth noting, however, that nothing is ever perfect; even those systems you have in place that have gotten the job done can be refined. No system you already have in place should be neglected; feel free to spend more time with those that really need help, but don’t assume your best systems can’t be improved upon.
3. Identify a strategic objective
At this point you should have a comprehensive list of the systems you have in place, or lack thereof. Don’t fret if you notice some significant shortcomings, as this exercise is specifically designed to uncover any imperfections in your current business model. Remember, no company starts out perfect, but the right systems can get you there in no time flat.
Carry on, as you have grown accustomed to, but with one simple caveat: take note of the strengths and weaknesses of each system. Note where you are lacking in efficiency and, perhaps even more importantly, where you may rid yourself of any overly complicated or unnecessary procedures.
Once you have pinpointed your strengths and weaknesses, you will be able to identify an objective goal. Make a conscious effort to determine what each system you have in place is currently lacking and aim to improve upon it. Only make improvements that are easy to replicate. Remember, the fastest way to get to where you need to be is a straight line; business development systems are no different. Be sure to make the most efficient upgrades to your current systems as possible.
4. Prioritize general operating procedures
Only once you have an idea of the upgrades you want to make should you move on to step four. When ready, implement the upgrades you think will help the most, but don’t do so without documenting every action. Be sure to take very specific notes on what the system entails (the simpler to follow, the better). The ideas is to create a step-by-step blueprint anyone could follow to achieve the exact same result. It’s worth noting that this steps takes time; the right system won’t come to fruition over night.
With notes in hand, carry out the system. Feel free to adjust the new system accordingly. If you see an area to improve upon, feel free to do so, but be sure to document the change. Over time, the system will refine itself until it is as efficient as it will ever be.
5. Remove yourself from the equation
Step five represents the pinnacle of business development, as it will allow you to remove yourself from the equation. Provided you have landed on a system, or rather a procedure, for carrying out specifics tasks, anyone should theoretically be able follow your directions. For what it’s worth, you should be able to put anybody directly into your specific system and they should be able to replicate your own results. In the event your blueprints for achieving success were mapped out well, there is no reason any of your employees shouldn’t be able to replicates the results of any given system you develop. Once you are no longer needed to carry out the tasks assigned a system, you are permitted to attend more important matters; those that promote business development.