When we decide to become entrepreneurs, we become our own bosses.
What are some of the challenges that come with this mindset shift?
Why is it so important to resist trying to do everything ourselves?
On this episode, I talk with Thomas Elrod of High Performance Real Estate Advisors.
In just 8 years, Thomas and his team have seen amazing growth, and he shares how rethinking your role in your business can bring great results.
What you do with your time everyday is what determines if you’ll make $50,000 or $500,000. -Thomas Elrod
3 Things We Learned From This Episode
Stop doing low-dollar activities (10:20- 11:25)
Stop forcing yourself to do tasks you’re not good at, especially if they’re interfering with the activities you excel in. By hiring the right person to do the jobs you can’t do (or don’t want to), you’ll be able to focus on higher-dollar activities and allow your business to grow.
It’s not all about you (20:23- 22:43)
Create an environment where your team feels you are serving them. Until you become selfless in your business, your team won’t feel appreciated. In contrast, if you serve your team, they’ll become more loyal to you. This will ultimately benefit you, your team, and your business.
Hire a coach (31:58- 32:41)
There is always someone who has more experience than you. Why not hire one of those people? Coaching is a non-negotiable step in building your own business. If not only to learn from their teachings, then for the accountability. Either way, you can’t afford not have a coach.
Many entrepreneurs create businesses that are a shrine unto themselves. Whether from the name of their company, or the way they deal with their team, this has the potential to hinder your success. Create a team of partners, rather than employees. Find someone to keep you on track. Most importantly, strive to create something where your team can one day outgrow you and help scale your business. The sooner you do these things, the closer you’ll be to achieving your goal of business freedom.
Guest Bio-
Thomas Elrod first developed an interest in running an organization when he worked as a ball boy for the Carolina Panthers from 1995 to 1997. Seeing first hand how marketing and management, among others, worked together at an NFL level, he decided to apply what he’d seen to his next venture: co-owning a General Motors dealership. After the 2008 financial crisis caused the dealership to close, he decided to join the real estate industry. After trial and error, and a name change, today, Thomas is the co-founder of High Performance Real Estate Advisors. Here, Thomas and his team managed to take his business from 3 to 365 deals in less than 8 years.
To find out more about Thomas, head to: https://www.kw.com/kw/agent/elrod
List of books Thomas recommends:
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- Fanatical Prospecting by Jeff Blount
- The Ultimate Sales Machine by Chet Holmes
