Welcome to West + Main’s Business Building Challenge!
Your business is a direct reflection of your activities in the 3-months prior, and frankly, this exact theory explains why so many agents struggle to keep their pipeline full year-round.
Instead of falling into the cycle of working in your business, then on your business, then back like everyone else, take this Business Building Challenge designed to help breathe life into your business, keep you on track, and generate business for you over the next few months. Completing these activities will give you the burst of energy your business needs to thrive going into .
How does it work?
The Business Building Challenge is designed as a complete program designed to be implemented and executed over the course of 20 days. We give you the full program on Day 1 so that you can complete the activities in a timeframe that works for you. We strongly suggest reviewing the activities in advance as some of them may require prior preparation. Remember, the more consistently you can complete activities vs. sporadically - the better. Still, we know that the holidays can be busy and somewhat unpredictable and this program is for you!
Before You Begin...This program is designed to be difficult, yet doable. You will stretch your limits and grow exponentially if you complete it; yet we have found that the likelihood of your completing West + Main’s Business Building Challenge is considerably higher when you work the program with an accountability partner. Here are some recommendations we have regarding accountability:
- Select a partner that will actually hold you accountable. While it can be tempting to work with a close friend, you want to work with someone who will hold you to your commitments.
- Set regular, reoccurring accountability calls/meetings with each other. We get it, schedules are hard to predict in our business, but these calendar appointments are meant to be held. Setting them early on will allow you to schedule around them vs. the other way around.
- Each meeting/call should have an agenda:
+ Discuss what you accomplished
+ Discuss what you did not accomplish
+ Discuss why you struggled or succeeded
+ End each meeting with commitments or action items
+ Set the agenda for your next meeting/call
- We're here for you. If you have questions throughout the process, we're here to help. Or, if you're looking for an accountability partner, we're happy to match you with someone we think would be a good fit!
Day 1: Get Organized!
Welcome Hustlers! We're excited to have you here!
We assure you that the next month is going to help deliver some exceptional results for your business. Each day, we want you to visit this page for your daily tasks. (Bookmark it now!) We'll also include some tips to get them accomplished.
Audit your CRM: make sure you are tracking your peoples’ birthdays and home
anniversaries as well as their complete contact information. If you are missing any info, reach out and ask! This is a great reason to reach out and start a conversation!
Compare your cell phone contact list to your CRM to ensure that all of your contacts are in your CRM. On average, it takes 7-8x the energy, time, and money to generate new clients than to convert repeat or network clients. Make sure you're utilizing your CRM to stay in touch, not just your phone.
Make a list of at least 100 people that you want to contact this month. Commit to contacting a minimum of 5 people per day - you can change up your mediums, content, etc. as you please. Once you have your list, schedule time blocks to do this daily follow up. We recommend 30-60 minutes per day.
In addition to your contact list of 100 people you want to get in touch with this
month, make a list of at least 10 prospects you expect to personally work with in 2020. If
you do not have at least 10 prospects, focus on follow up to generate your list of 10.
Select and commit to a daily planner for 2022. You should note that a planner is different than a calendar in that it has space for notes, mental check-ins, etc. You will take what you write in your planner and migrate those priorities into your calendar over time. This will allow your priorities to guide your schedules instead of the other way around.
Let us know if you have questions, we're here to help!
Day 2: Start with Gratitude
Contact everyone that sent you a referral during the last year and thank them. Yes, we know you have probably already done this, but it never hurts to state your gratitude multiple times. People love to know when they have left an impact.
Write a thank you note to everyone who wrote a testimonial for you during the last year and be sure to include mention of how it helps you grow your business. Don't forget to remind them that you would love to help anyone they know!
Post to your social channels thanking those that have helped you grow your
business and offering opportunities for how your audience can help you grow your business in the upcoming months. Be sure to engage with all comments to gain the most reach from this post.
Write 5 Reviews for businesses/professionals you have personally used/loved. If you’re not sure, ask them where they prefer to be reviewed. When in doubt, use Google Business.
Ask for testimonials and include a link to make it easy!
Day 3: Start Scheduling
Schedule your accountability check-ins with an accountability partner. *If you don't have a partner, that's okay. Simply set an appointment for each week on your calendar where you will review your progress.
Schedule at least one face-to-face meeting with a past client, friend you need to catch up with or prospect. Aim to schedule at least 2-3 more face-to-face meetings over the course of the next month. Note that the aim of this task is to get in touch and get meetings on the calendar. If people can't meet until after the holidays, that's okay. Schedule the time anyway!
Research local + national industry events happening in the next year. Most large conferences & expos have their dates for next year already set. As innovative as your local market can be, it is important to stay engaged with what is happening in our industry as a whole which requires involvement at a national level, sources to follow: the National Association of Realtors, Inman News.
Make a list of the events (personal and professional) that you would like to attend and place them on your calendar. Book the necessary travel (or put reminders in your calendar for the future). We recommend attending at least 2-5 professional development conferences, seminars, workshops, etc. per year.
Book your next year of CE classes. (If you're unable to register for them, put a reminder in your calendar to book them later on).
Volunteer with a local charity. Post about your experience on social channels to encourage support of the cause from your network.
Day 4: Send CMA’s
Prepare and deliver (via mail, email, or in-person) two home value estimates (Comparative Market Analysis Reports to potential prospects. Set a follow up reminder for the following week, and make this a weekly habit!
Set a reminder to follow up. Do they have questions? Would they be interested in speaking further? If so, set the appointment!
Download an easy cover letter!
Day 5: Shop Local!
Shop local! Bring at least 10 business cards and pass them out to people you meet.
Stop by a local business that you love (i.e., coffee shop, doggy daycare, gym, etc.) and ask if there is anywhere/anyway that you can promote your business within their company or if there is some sort of mutual benefit you can establish. Many businesses are looking for additional B2B opportunities and you may just need to ask!
Make a list of 5-10 local businesses and/or attractions that you want to highlight this year. Make this a habit!
Post today! Link to the business' account. Utilize photos or video in your post. Make it easy: use the Shop Local graphics in the #social-graphics channel on Slack!
Day 6: 2022 Content Plan
Create your 2022 Content Calendar.
We recommend scheduling out a minimum of the following for the next 12 months:
- 4 pop-bys for past clients, your sphere of influence, and/or anyone else you would like to include. Also include a reminder of the pop-bys one month prior to ensure you are able to gather the materials and put them together in advance. Please note that you do not need to target the same group each quarter; however, it is helpful to target the same group at least twice per year.
- 4-8 monthly blog and/or LinkedIn posts. Make sure to check out the content on westandmain.co/news - we blog constantly so that you have info to share!
- Roughly 5-10 Facebook-specific posts per week. It can be helpful to come up with themes for this type of content to make it easier to plan and even hashtag (i.e., #FindAHomeFriday). This number of posts allows for 1-2 posts per weekday with about 3-4 hours in-between posts. Remember, you can share any West + Main listings from the #listings channel on Slack!
- Roughly 2-4 Instagram Feed posts per week. Unlike Facebook, where your content is a mixture of items, Instagram content is largely photo or video content. We recommend utilizing both listings and community content as well as personal content in this medium to gain traction as well as researching effective hashtags to gain engagement and exposure.
- Instagram Stories. We do not place a number on this medium because stories are designed to be more of a live feed of your experiences!
Day 7: Analyze Your ROI
Audit your budget and lead sources from the last 12 months. Does your spend line up with your results?Are there any marketing efforts that should be adjusted (increased/decreased)? If so, make the necessary adjustments and set a schedule to revisit quarterly.
If you need to renew your license or any other important subscriptions or platforms, do that now!
Day 8: Take Your Inbox Back
Sign up for 5 industry newsletters
Curate your inbox to make sure that you wake up to useful industry-related news each morning…here are a few that we recommend, comment below with your fave reads, and we’ll add them here!
Inman News
West + Main Agent Pro News
Housing Wire
RIS Media
Subscribe to 3 industry podcasts
In between showings, on the way to the office, at the gym or an a run…make the most of your minutes by filling your mind with brainfood, motivation, information + inspiration. Here are a few that we love…comment below with any that we missed, and we’ll add them to the list!
Ninja Selling Podcast
The Real Estate Sessions
BiggerPockets Podcast
Secrets of Top Selling Agents Podcast
Marketing Genius - Placester
The Katie Lance Podcast
Pursuing Freedom Podcast
Flip your inbox: unsubscribe from 5 newsletters
If you’re getting emails but can’t remember why, or are no longer interested in the content, hit that unsubscribe button once to save yourself a few seconds and that moment of your attention each day!
Day 9: Read Something
Spend two hours completely unplugged. Our professional success starts with our mindset, which when overloaded by constant alerts from our devices can get foggy. If you feel inclined, try to schedule unplugged time into your weekly schedule moving forward.
Read or listen to these books:
Ninja Selling by Larry Kendall
The Go-Giver by Bob Burg and John D. Mann
Miracle Morning for Real Estate Agents by Hal Elrod
Make a reading list for the next few months. Remember, leaders are readers. Whether you plan to physically read the books or listen to them on a service like Audible, it is important that you are consistently growing with personal and professional development books.
Download a Suggested Reading List.
Day 10: Update Your Profiles
Audit your online presence to ensure that all information is up-to-date and accurate. Then, post a link to your site on your social media to encourage people to check out any updates that you made in the process.
Update your profile + photo on your social accounts or third-party site accounts if needed. On social media, your audience will receive a notification in their news feed a
prompt an opportunity for engagement. This is also a good time to create or audit the
information on third-party sites (i.e., Zillow, Realtor.com, LinkedIn etc.) and make
necessary updates.
Day 11: Know the Inventory
Browse searches for your current buyer needs to try and match them with active listings currently on the market. If you do not have active inventory that meets their needs, reach out to other agents to see if they have anything coming soon. By making these matches proactively, you can provide significant value to your prospects and clients. Also, don't be shy about sharing your efforts with your prospects to reinforce your value. This is a GREAT daily habit to get into - make sure to check the #comingsoon channel in Slack!
Save 5 auto property searches for yourself
Use one of West + Main’s websites or the MLS of your choice to set up property searches so that you can keep an eye on the market and specific neighborhoods. We’d suggest:
1. Your own neighborhood/area
2. West + Main’s new Active listings
3. All Coming Soon listings in the MLS
4. The areas around your favorite West + Main offices
5. The neighborhoods where you would love to have a listing
6. Your favorite mountain or staycation getaway town
7. Areas that are hot for investors or likely to have rental property potential
8. The neighborhoods your Top 10 VIP’s live in
Run an MLS search for all of your current "fence sitters." These are prospects and clients who have been casually looking for some time but have not made a move. Select a specific property and email it to them asking what they think. Offer to show it to them and also ask if anything has changed with their timeline.
Day 12: Business Planning
Check in on your most recent Biz plan…did you meet or exceed your goals? Are there areas you’d like to improve on?
Create an updated Business Plan. Partner up with a friend, schedule time with your coach or mentor for an individual session, or simply reserve a day on your calendar to tackle your business planning. If you have already done your planning, schedule the first 3 months of action items in that shiny new planner!
Here are some resources:
Business Planning with Erin Bradley
How to Stay Positive + Productive
Breakthrough Broker Business Plan
Day 13: Know the New Build Scene
Preview a new construction property. Post a photo or video explaining why someone should hire an agent when buying new. This is especially effective for new construction listings as many buyers don't realize that they either can have representation or that they might not have their interests properly represented by the on-site representative.
Make it a goal to learn about as many new developments as possible. Share what you learn in the #new-build-guide channel on Slack!
Day 14: Social Strategy
Start utilizing the 5-5-5 rule on Facebook + Insta. The 5-5-5 rule is a great rule to use on social media to ensure that you are being truly social and effective. "Like" at least 5 people's posts; comment on at least 5 posts; and private message at least 5 people, every day.
Follow at least 10 new Instagram accounts that post content you like. Focus on hashtags and topics they're using to help inspire content for you!
Pose this question on one of your favorite social platforms: "My favorite holiday tradition is ...., what is yours?" Respond to every comment thoughtfully!
Day 15: Streamline Your Systems
Make a list of at least 5-10 items of value that you can use when communicating with leads besides an online real estate search. Keep this list for reference. (Our Library is a great place to start!)
Create email templates for any regular communication. Leave space to personalize these emails, but have them as a guide to save you time when communicating with clients and prospects. If possible, ensure they are loaded into both your CRM and your gmail drafts.
Are you just talking or providing value? Go through the list of your current prospects and clients and evaluate the stage of the process they are in. Are you just answering questions as they arise or are you delivering information they consider indispensable? Focus on providing an item of value to all of your current prospects today.
Day 16: Fill Your Pipeline
Note any prospects that decided not to buy/sell in 2021 and reach out to them asking if they have thought about getting back in the market. Make time to catch up with them beyond their real estate interests. If they are not getting back in the marketing ask them if they know of anyone who has been considering making a move and ask if you can connect with them.
Call three past clients just to say hello!
Contact your "cold" leads/relationships (more than 3 months with no contact) to touch base about their timeline and needs. In conversation try to develop an item of value that you can deliver to them after your conversation.
Write down 5 new ideas you have to generate business in 2020 and come up with the first-step to execute on those ideas. What do you need to do to make your plan a reality?
Day 17: Hold Open
Host an Open House at one of your listings (or for someone in the office if you don't have any listings). Make sure you promote the Open House, add it to our spreadsheet (we’ll create your collateral automatically AND help you promote your event! You should schedule at least one open house per month to use this as a business building strategy.
Please note West + Main’s Company Policy - 2 adults must be present at every Open House, including 1 licensed agent. Stay safe out there!
Watch Open Houses 101.
Day 18: Your E-Newsletter
Create your Mailchimp Audience…or add to it!
We think everyone you know should be in your Audience, no matter where they live, how you know them, or what their Real Estate goals + dreams might be. Make sure you’re on your list, too!
Send your e-newsletter every Friday as soon as we post the link in the #newsletters channel on Slack! Did you know that statistically, the more often your emails are sent, the higher your ROI will be?
Check your analytics, follow up, and be consistent to maximize this strategy!
Day 19: Be a Connector
Introduce two people that you think would benefit from knowing each other. As an agent, you want to be viewed as a community resource, not just an agent. By offering these types of connections, you can drive serious value to those around you and your local community. People will not only return the favor but they will want to connect with you in the future.
Contact an agent you admire (either locally or in another market) to inquire about things they did to build their business or their strategy (social media, video, etc.) Come away from the conversation with at least one takeaway that you will implement in your business in the next month. Make an action plan to implement and set a deadline for yourself.
Reach out to any of your service partners (i.e., home inspectors, photographers,
lenders, appraisers, videographers, stagers, etc.) to catch up and ask how you can help each other's businesses. Focus on how you can help them grow their business.
Give a referral to one of your service providers (personal or professional).
Day 20
Go through your past 20 days of activities and ensure you have completed the
full list. If you missed any of the activities, either complete them today or make a
plan to complete them in the next 3 days.
Congratulations! The Business Building Challenge is not for the faint of heart and you've just completed it!
