What makes a business successful? Is it the CEO? Customer service? A talented and/or motivated team?
The answer is yes and no. While these factors are essential ingredients in the recipe for success, they are not the whole story. Without processes and systems in place, no business can be at the top of its game.
What exactly do I mean by processes? Processes are the steps and actions needed to achieve a goal. Processes are essentially the playbook of how your business operates and encompasses progress, actions and methods. Industry leading companies have developed and implemented processes for every aspect of their business.
These processes are reinforced with each team member until they become a habit. When processes are in place and adhered to, your business will run more smoothly and efficiently, increasing productivity and profitability and at the same time setting you apart from your competition.
When it comes to capturing online leads for conversion, without solid processes and systems in place, your conversion rate will be low and many good prospects will fall through the cracks or end up doing business with your competitor. When a step-by-step process is developed and applied to every online lead, you will see a dramatic improvement in your lead conversion rate.
Before setting up your online lead conversion process, consider the following:
- What form do you have to capture the lead with contact info?
- What’s the auto reply message the user will get?
- How long will it take to get a message received?
- Who’s assigned the lead in the business?
- Do you have a business development specialist or team?
- Will the lead be set up on a drip campaign?
- When would a virtual assistant or sales agent call the lead to qualify them?
It is important to recognize that instituting new processes will bring about change that is likely to involve many departments or team members. Not every one likes change and most organizations can identify at least one maverick who balks at change or attempts to do things “their” way. These rogue employees need to be brought on side and must understand the importance of processes if they are to stay on your team. Every successful company is constantly changing and evolving, especially the top echelon businesses – that’s how they keep their competitive edge.
Companies that reach the top have an employee roster that embodies confidence and confidence equates to success. When each and every player knows exactly what processes should be used, how those processes work and the chain of command for performing their job, the entire business gets a boost and team morale skyrockets. A happy team is a productive team, and a productive team results in escalating profits and business success.
You need to have processes for every aspect of your business, but I’ve listed a few of the key areas below.
Recruitment
You need to be recruiting and conducting interviews on a regular basis to grow the team.
Training
Every business big or small should be training every single week using a combination of formal and informal techniques. Part of that training should involve driving home processes.
Advertising
Includes your Facebook and/or digital marketing strategy. It must have continuity.
Finance
Involves procurement as well as profitability.
Referrals
Keeping in touch with your database and staying in touch with past clients.
Process analysis
A periodic review of current processes looking for ways to improve them.
Process control
As team leader you must make sure the processes are being followed correctly and continually.
When processes are in place your business will operate more smoothly and efficiently. Your employees will be confident and retention rates will increase. Establishing processes and creating change isn’t easy, but it is worth the time and effort to institute them for the sake of your team and your business. Processes can be the catalyst behind moving your business to the next level.
If setting up systems for your business seems a little too daunting, consider hiring an expert to design and create an implementation strategy for you. This way you get a second set of eyes on your business and proven workable systems for a successful real estate team.
Ken Goodfellow is a real estate coach to top agents, brokers and teams across North America. He is well known for taking high-producing agents and real estate companies to the next level. Visit www.goodfellowcoaching.com or email Ken at ken@goodfellowcoaching.com.
