There's a fallacy in business that bigger is better, that you have to be in perpetual hustle mode to grow. What's missing from most conversations about scaling is likely right in front of you. Your people.
I've written before about how you have to build the team before the tech, although 'culture' can be overused or hard to quantify. It's tempting to do it all yourself, or to jump straight to automation but both will hurt you (and your business) in the long run.
You scale a business by investing in your team.
Setting a vision, building a strong team culture, and keeping everyone aligned as you grow. None of that is easy. It's why leadership is a full-time role.
It's as much about energy and feel as it is about tasks and to-dos. That's why CEOs need space in their schedules for contemplation.
Finding your balance
You can't spread yourself thin across too many responsibilities. I've talked about the tension between Technician and Visionary before, as well as the value in staying integrated in day-to-day operations.
You have to find the balance between team player and business owner, and that balance will shift over the weeks, months, and years.
Get clear on:
- When to jump in (a change in the team, a market crisis etc.)
- When to step back and let others lead
This fluidity is natural in any business, but especially in real estate. Mindset and momentum are everything for a sales team. Make KPIs empowering, not threatening. Set targets your team wants to hit, not ones they're afraid of missing.
For example:
- Connect your KPIs to your why (your mission)
- Use scoreboards, set challenges, celebrate wins etc.
Your team is your #1 client
Your job is to create space in your schedule so you can spot hidden potential in your team, steer the mission, and solve problems. As a CEO, your team is your #1 client. Tend to them first, and the rest follows.
Dedicate the next 12 months to putting your team above everything else, and you'll unlock your company's real competitive advantage: Your people. Be obsessed with each employee's career journey, and connect it to your company's vision.
Find out what their dreams are, why they chose your business, and what they're trying to achieve. When you can spend your days supporting each person's path and progression, that's where you win.
What this looks like day-to-day
- Give feedback in real time (within 24 hours) to keep momentum and solve problems faster
- Create an Issues List and get your team engaged in it (read up on EOS if you're not familiar)
- Set up performance plans and reviews for each team member
- Mentor each team member
- Keep an 'open door' policy, so your team knows it's okay to interrupt you.
Your primary job is to create space to identify leaders, align individual goals with company growth, remove obstacles, and cultivate culture. If you’re planning to scale your business, start with your people.
Need outside eyes on your business? I support real estate principals with recruitment and training. Book a free 15-minute call with me when you’re ready.