How to Manage Economics, Systems & People During a Market Shift w/Tiffany Lachnidt

Leading a team during a shifting market is one of the most challenging things to do. How do we keep our fingers on the pulse to know when to pivot and when to let go of the wrong people on our team? How can we keep an eye on lead sources so we know when one isn’t working anymore? What can we do to help us enjoy the journey of building and running our businesses? On this episode, I am joined by Tiffany Lachnidt to talk about the lessons she’s learned from failures and successes, and how she has grown as a leader over the years.

I’ve stopped caring about being the biggest, and I’m focused on being the best and the most profitable. -Tiffany Lachnidt  

 

3 Things You’ll Learn From This Episode

• Stay on top of what isn’t working anymore (03:00 - 03:59) Tiffany’s team were unequipped for how their market shifted with discount brokers, low inventory and more agents in the market.  It hurt them because they didn’t try anything different since what they had always done had always worked. As a result, their profitability and staff retention took a hit.
• The importance of knowing when to cut the wrong people loose (04:39 - 05:02) One of the biggest mistakes leaders make is letting people stick around for a long time even when they aren’t having success. It comes from taking too much responsibility for the issues and thinking it’s your problem, and not the person’s problem. To avoid this you have to get really good at figuring out how long to give people to learn and fail before you cut them loose.  
• What a lot of entrepreneurs get wrong about waking up at 5 am (25:04 - 25:31) Some hard-chargers pride themselves on waking up at 5 am, but they do it by sleeping at midnight. It’s not just about waking up early, it’s about sleeping early and getting 8 hours of quality sleep each night.

When we’re going through the fast-paced requirements that come with running a business and leading a team, we can easily lose sight of the market and what’s changing around us. We may miss the fact that our lead sources aren’t working anymore, or that certain people just aren’t fitting in with our culture. It’s important for us to slow down and pay attention so we can see the shift and adjust accordingly. When it comes to recruitment, we must keep an eye on the people we hire first because they determine who will join us and stay in the future.

 

Guest Bio-

 Tiffany is the leader of The Distinctive Group with Keller Williams Premier Realty. The Distinctive Group understands that the real estate process can seem overwhelming. In today’s ever changing real estate market, Tiffany and her team have dedicated themselves to helping both seller’s and buyer’s make the right decisions based on their individual needs and situation.  Tiffany has become a Certified Distressed Property Expert and the team has helped dozens of families avoid foreclosure. Go to https://www.thedistinctivegroup.com/about for more information, or connect with Tiffany on LinkedIn https://www.linkedin.com/in/tiffany-lachnidt-5701814/.