As we learn in BOLD, "The purpose of business is to fund a perfect life." Once you shift your mindset from thinking like an agent to thinking like a business owner, you may be tempted to dive right in by focusing only on your business or turning all of your attention to building a real estate team. But by doing that you would be missing a huge opportunity — the chance to put your perfect life first and grow your business to support it.
"Many agents start focusing on the business or the team," says legendary coach Tony DiCello. "Start with the life you intend to live, and the business and team will follow."
What's the key to doing just that? A simple two-step process:
- Let your life dictate your business. Never lose sight of the fact that the entire reason you are growing your business is to support the life that you want to lead. First, figure out what your perfect life should look like and then let that perfect life dictate how you run your business. Otherwise, instead of running your business, your business will be running you.
- Let your business dictate your team. Once you have let your desired life dictate the size of your business, it's time to let your desired business dictate the size of your team. Some agents view having a large real estate team as the definition of success, but only business success will help you build a bigger life. Don't fall into the trap of wanting to expand your real estate team too quickly simply to create the impression of success. Getting the most out of current team members is better than adding new ones. At the end of the day, the purpose of your team is to support your business, which in turns supports your perfect life.