How can you become a better CEO for your real estate team while still making sure you leverage your company?
Being a CEO can be pretty hard, especially if you are not sure what a CEO does and what its role is in growing the company and its teams.
A Chief Executive Officer (CEO) is responsible for managing the company, which also means making sure the people in the company grow and can leverage their work to become the best version they can be.
In this Team Building Podcast, Jeff talks about the strategies CEOs can implement today to see massive growth in their real estate business.
“The One Thing” to Become a Better CEO
The goal for any CEO is to build a self-sufficient business that grows and reaches its full potential.
As a CEO or owner, the idea is to work less than five hours a week in your business, creating strategies and plans to leverage your teams. But how do you accomplish this?
Jeff recommends reading “The One Thing” by Gary Keller. This insightful guide provides a roadmap for working less than five hours a week while still generating a staggering annual revenue of a million dollars.
Once you understand the basics, what can you do now to leverage a CEO team that generates this type of revenue?
Often times, CEOs, team leaders, and owners feel the need to take care of all aspects of their business, which is just not very productive.
Have you found yourself taking necessary tasks that someone else needs to be doing?
The role of the CEO focuses solely on growing and effectively running a company, so ask yourself: are you working in your job or in your business?
Are you making strategic, impactful decisions that truly leverage the potential of your team?
If you were to step away, would your enterprise continue to thrive without your constant intake?
Leverage is all about optimizing your resources and strategies for maximum impact without the constant need for you to be involved.
Effective Distribution of Work
The key to effective leveraging lies in smart work distribution. This doesn't just mean assigning tasks; it's about ensuring each tool is used in a way that maximizes its potential.
Deliver More Value in Less Time
One thing is true: In the world of business, time is money. If a task is taking unnecessary time, then it’s taking your company’s money.
Identify the bottlenecks slowing down your processes and find solutions to overcome them.
For instance, if you are taking care of administrative tasks that are taking up a significant portion of your day, consider automating them or delegating them to an administrative professional.
Understanding Your Worth
Next, think of what your work is worth to your company; is your hourly rate worth what you do daily? Can someone else do it as effectively at a lower rate?
One of the most critical aspects of leveraging time and resources is understanding what you're truly worth.
This isn't about ego but rather a clear-eyed assessment of the value you bring to your business.
If you're spending a significant amount of your time on tasks that could be done by someone else at a lower rate, then you're not leveraging your time effectively.
Consider delegating tasks such as administrative work, scheduling, or other routine tasks that don't necessarily require your expertise.
By doing this, you free up time to focus on higher-value activities that align with your hourly rate, CEO tasks, and company goals.
Leveraging a Real Estate Business and Becoming a Better CEO
As you already know, if you work on real estate, a significant portion of time spent is dedicated only to prospecting new business opportunities, about 80% to be exact, while only 20% is spent working with leads.
As a CEO looking to leverage your team and grow your company, you need to be strategic when working in this distribution.
Are you working on prospects on leads, or are you leaving these jobs to your team?
And most important, is your team spending time in a strategic way? Are they bringing more leads and closing more sales than you would?
Investing in Your Team
Delegating tasks isn't just about freeing up your schedule; it's about leveraging your team's skills and talents to increase overall productivity and efficiency.
This process requires you to invest a portion of your total earnings into your team. By hiring and compensating individuals who can assist with various tasks, you're freeing up your time to do tasks that can bring that investment back and more.
Also, when you invest in your team, employees feel appreciated, and their efficiency naturally increases.
They are more motivated to perform at their best, leading to improved productivity and a positive work environment.
By doing so, you're not only creating a proactive and self-sufficient team but also building a business that can thrive even without your constant attention.
Start Enjoying Your Free Time
Once you've effectively delegated tasks, you'll find yourself with newfound free time. How you choose to utilize this time is entirely up to you.
Perhaps you want to focus more on strategic planning, or you may wish to engage more directly with key clients.
The important thing to remember is that this freedom is only possible when you successfully delegate and leverage your team.
Grow Your Business Today
Stop wasting your time and money on tasks you can delegate! Start spending your time smartly and grow your team and business.
Contact Elite Real Estate Systems today and start seeing results.