The Importance of Taking a Disciplined Approach to Business w/Mike Wall

Many real estate agents are running a business fueled by getting more transactions, the next hire and the next system. The problem is, if that’s all these is to your business you don’t have much. How do you build systems and actually hold yourself accountable to them? Why is it so important for us to know the identity of our business. How do we get out of the grind so we can actually have a purpose not something that makes us money? On this episode, I’m joined by Mike Wall to discuss transitioning from hustle and grind to peace of mind.

Skillset is over-taught in our business, and mindset is not taught enough. -Mike Wall

 

3 Things We Learned From This Episode

The peril of growth for growth’s sake (02:05 - 02:57)

Henry Ford said “if money is your hope for independence, you’re never going to have it, the only real security a man will have is reserve of knowledge, experience and ability.” Don’t get so lost in transactions and growing the business that we end up like hamsters on a wheel.

 

Why systems need accountability as much as people (13:25 - 14:02)

As a team leader, you don’t just piece a real estate business together. You have to understand that when you add components, you have to hold them accountable. Every component you add to your business has to be held accountable. You have to set up a system that manages that component of a business to get a return.

 

Why you need to know your lead sources (24:51 - 25:03)

Know that if you’re in a team environment, you’re likely losing money and you just don’t know it. You’re too attached to the transaction and not the profit.

 

In this business, you can get ahead of yourself, just chase transactions and have no discipline, which can get you in trouble. Without tracking, without a purpose and without the right mindset, you’ll never get a break from the hustle and grind. These are some of the reasons why people fail out of this business so often. To solve this, business has to be more than closing the next deal, more than growing a business for growth’s sake, and hustling without a destination.