Fast Pace Ep 44 – Maximising the value of a business

This week on Fast Pace, Dean Mackie and Josh Phegan talk about maximising the salable value of a business and how to increase that value over time. They note factors that make a sales business valuable and how to measure that value, why understanding your balance sheet is so important, the emerging trend of subscription services companies and service-level contracts, and how a business’ people and culture figure into salable value.

Then what?

You know you’re supposed to do a whole range of things, but do you? And then do you know what to do next? In this Coaching Tip I’ll help you get clear on what to do and then what comes after, and how to train your team to find that clarity.

For example, when you finish doing a market appraisal, then what? And then what’s next? I’ll show you how to take what the best agents do and build a simple system around that, like a market appraisal menu, so that even new team members can clearly see what to do next. 

You can design great customer experiences by taking the randomness out of your business. Define which action is best for each specific circumstance, and step by step you’ll be turning that market appraisal into a listing, then turning that into a sold property.

I’ll show you how to use ‘then what’ to test and assess what your trainees actually know by taking them to the place where they don’t. If they can’t explain it and then define it, then it’s not going to happen. Give them what they need to take the next step and win.

Fast Pace Ep 43 – The value in big data

In this Fast Pace episode, Dean Mackie and Josh Phegan discuss the value in big data, and how to use it to open up new markets and play a larger game. They talk about data lakes, data driven decisions for the future, customer touchpoints and integrating your CRM, how data can create a more human connection, ways to use AI, combining the digital and real world experience and investing in people who can make those connections.

Talent development squad

Everyone inside of your business has an expiry date. The most important thing you can do is to have a talent development squad, and in this Growth, Leadership and Management Tip I’ll tell you how to find and train the future superstars of your business.

We’ll look at ways you can bring people into this industry and then step them forward inside of your organisation. I’ll talk about how teach-train-test works and what you’ve got to do to be an effective trainer.

I’ll show you why you have to focus on being good before you think about being different. We’ll look at how to find the knowledge gaps your people have so you know what to train them on, and I’ll talk about pre-start skills surveys for your new prospects.

The big question is how long it takes your talent development squad to train great new people to become the best players in the industry. I’ll show you how shortening and repeating that training cycle will give you an incredible real estate business.

Happy, anxious, sad

You need to understand what the customer goes through with every transaction. In my Coaching Tip today I’ll clarify those happy, anxious, sad moments so you know the jobs you need to do, and how to engineer the experience you want your customer to have.

I’ll step you through the emotions the customer feels from the moment they decide to buy a house right through to hearing that their offer has been accepted. Getting clarity here will help you manage the emotions of the customer through the way you work with them.

Rather than training dialogues and tactics, I want to train you to shape experiences. Anticipating what the customer will go through and will need from you, at each stage of the transaction and on auction day, will make you seriously good at working with people.

In this industry, it’s the innovators who provide the best experiences and fulfill customer expectations. Meet those challenging happy, anxious, sad moments and solve customer problems in new and better ways, and that will become your number one marketing engine.

Fast Pace Ep 42 – Managing for high performance

This episode of Fast Pace features Dean Mackie and Josh Phegan on managing for high performance – what it is and how to manage for it. They look at types of performance and discuss how to challenge and measure high performers, understand their individual needs and outline some special requirements for managing high performance people, whilst supporting the development and lifecycle of each individual.

Teams for growth

Great agents realise the need to build teams for growth, and in my Coaching Tip today I’ll focus on how to think about the people around you, the roles they play, and how you can help them be the best at playing those roles inside of your business.

The way people think about what they do determines how great they will be at it. And the job title you give a team member can have the same effect, not only on how aspirational they feel about their position, but also how others see them.

Anyone on your team that you think of as an agent is someone who is capable of prospecting, listing and selling. That’s actually what you want. Give them the title and the responsibility that goes with it, and they will deliver the customer service you require.

Building teams for growth is all about you thinking bigger about your own role in your team. If you place people around you who feel capable and confident in taking the heat off of you, then you can specialise and be at your best to scale and grow your business.

Fast Pace Ep 41 – Wellness in the workplace

This Fast Pace episode features Dean Mackie and Josh Phegan on wellness in the workplace, the emotional health of your people, and creating workplaces where people thrive. They note that your people are your business and look at ways to help your people manage wealth, challenge them to grow, promote active renewal, and help people focus on what’s most important to them.