Last week we talked about daily routines and a day block system that works well for me. So many people have reached out asking how to make a day block system work for their schedule. So in this episode of Agent Rise, I’m going to backtrack and help you nail down what you need to know to develop a daily routine that works for YOU.
Put your delegation skills into practice
You want to reach your daily, weekly, monthly, and annual goals, right? The #1 way to do that is to delegate. How do you decide what to delegate? You need to calculate what your hourly rate is. Let’s say you want a projected annual income of $250,000. Take that number and divide it by 2,000—you get an hourly rate of $125.
If you are doing any task for your business that you could delegate out for less than your hourly rate, you need to let it go.
If you’re constantly doing activities in your business that you could pay someone $20 an hour to do you are wasting your time. You need to stop making the excuse that it’s something only you can do—because it’s not. Your time and attention need to be focused on what produces revenue.
Ask yourself: Do I NEED to be doing this?
If you’re hesitant to delegate something, what is holding you back? Is it the cost? If you can’t afford to outsource it, ask yourself if it’s necessary in the first place. Is it something you can let go? Remember that you need to simplify your business to amplify your results.
You must dig deep and decide if any given task is worth your time. Does it fit into your 3 pillars? If it does, can you outsource it to someone else for less than your hourly rate? Odds are the answer is yes. Delegate it.
I understand you don’t know where the next deal is going to come from. I get that it’s scary to pay someone else when you don’t have a steady income stream. But it is the only way your business will succeed and grow. It opens up your time to focus on what really matters.
How to prioritize outsourcing
To properly prioritize what you should outsource, I recommend using a method that I learned from the book E-myth Revisited: write out detailed descriptions for the roles that you will outsource. You’ll likely have to play these roles until you’re ready to hire someone—but at that point, you’ll know what role needs to be hired out first.
There are three “buckets” that tasks can be grouped into:
- Bucket #1: You. You show homes, work with clients, write offers, and do the “front-end” work. You can even bring on buyers agents and listing agents to assist.
- Bucket #2: Transaction Coordinator. Source a TA as soon as you’ve done 10 transactions. You have enough experience at that point. Don’t wait to hire ‘until you get busy’—that will be way too late.
- Bucket #3: Marketing Coordinator: A marketing coordinator can help you post listings, order photos, and write social media or blog posts. This is something you can even have an intern do.
What got you to this point won’t get you to the next
Once you calculate your hourly rate, learn to let go and delegate, and know the roles you can outsource—it is far easier to get into a daily routine. Sticking with your routine gives you more time with clients, more time matchmaking, and you’ll spend more time on revenue-producing activities.
It all comes back to this fact: you are wasting your time by not hiring someone.
You can’t keep doing things the same way you have been. Just like when a plants roots outgrow the pot it’s in, you’ll outgrow the activities that got you started. You need to move to a larger pot! Hiring people is the best way to support your growth and the growth of your business. It will save you money in the long run.
To hear what my team looked like in 2005 versus what it looks like now, listen to the whole episode of Agent Rise!
Outline of this great episode
- [0:55] Set daily routines that work for YOU
- [3:00] Calculate your hourly rate—then delegate
- [5:05] Ask yourself: Do I NEED to be doing this?
- [7:25] Write out descriptions of potential positions
- [8:07] The three buckets tasks can be placed in
- [12:10] What got you to this point…
- [16:14] My team in 2005 versus now
- How To Build A 6 Figure Real Estate Business That Eliminates The Commission Roller Coaster, Without Forcing Yourself To Do Things You Hate
- Easy Agent Pro – to get a website like mine (neilmathweg.com) go to www.easyagentpro.com/oj
- Shred Media – to take your digital marketing to next level go to www.ShredMedia.com
- To hear more great shows like Agent Rise visit www.industrysyndicate.com.
Resources and Links mentioned in this episode
- Head to AgentOnTheRise.com to check out my free masterclass!
- To get my listing presentation tips, text “LISTING” to 44222
- Join the Agent Rise Facebook Group (free) at www.Facebook.com/groups/agentrise
- To learn more about coaching, go to www.neilmathwegcoaching.com
- If you want to see my website as a REALTOR in Madison Wi go to www.ILoveMadisonHomes.com
- BOOK: The E-Myth Revisited by Michael E. Gerber
Connect with Neil!
And connect with me on ANY of the following social channels. I LOVE social!
- Instagram (@neilmathwegcoaching or @neilmathweg (personal)
- Check out my YOUTUBE channel: all new content!
And finally, if you would be so kind – leave a rating and review for the Agent Rise podcast on Apple Podcasts (formerly iTunes)