Using the 80/20 principle, we can ensure that we’re prioritizing our time to be sure that our money-producing activities are handled before everything else, which sets us up for success.
Today I want to continue my discussion of the six personal perspectives by focusing on another of them: the 80/20 principle. It shows up time and time again in our lives and in our businesses, and I really believe that there’s so much truth behind it.
Pareto’s principle states that 20% of our activities will produce 80% of our results. Simply put, not everything we do is equally as important. Because others have gone before us and done the research, we know that we need to do our most dollar-productive activities in the morning to make sure those things get done because that will help determine our success in our business.
Real estate agents and salespeople of any kind all have the same job descriptions: • Lead generation • Lead follow-up • Go on appointments and negotiate contracts • Practice and roleplay
I usually reword these and put them in the order of how my day usually goes. So instead, I would say:
• 8:30 a.m.—Practice and roleplay • 9:00 a.m. to 11 a.m.—Lead generate • 11 a.m. to noon—Lead follow-up • Afternoon—Go to appointments
It’s crazy how this works and when you set accountability around it, it starts showing up, and your perfect calendar does start to come true.
Back in 2015, I took BOLD four times in a row. I did that because I knew I had to get into action and get things back on track for my business and for my team. During that time, I had five different role play partners, with a different partner to work with at 8:30 a.m. every morning in a different city. That really helped increase my ability to talk better, know my scripts, be better at objection handlers, and it’s also a great way to connect with agents across the country.
After practice and roleplay, I would go into my 9 a.m. to 11 a.m. lead generation. Early on with the new coach that I had, he required that I send him a text every morning at 9 a.m. when I got into my database. By sending that text every morning, I was certain to open my database to see who I needed to call to get into action and get busy. That one little text I sent every morning has changed my business over the past couple years.
Think about what you are spending your time on all day long. If you’re still a single agent, that’s super great—just make sure you’re doing your most dollar-productive activities in the morning. Everything else like setting appointments, making flyers, and doing inspections can all be done in the afternoon, after you’ve ensured that your money-making activities have been taken care of.
Let me know how you focus on your 20%; I’d love to hear about it. For any other questions, feel free to contact me by phone or email. Have a great day!