Back To Basics - Part 3 - Focus

How do we get it to where we're really hitting the people that we want to do? And the answer to this is very, very simple and very, very complicated. So I'm glad you're right here. All right. It's very, very simple because the answer is we need to track where our business comes from. It's difficult because we can't, A, always pinpoint that. It's not like every single piece of traffic that we get, every piece of business that we get comes from one specified place all the time. And sometimes it could be an accumulation of things, right? But we need to say, okay, well, that was a referral or that was sphere. Just something generalized so that we know where this business came from. So what I'm going to ask you to do is if you've never done this before, if you've never tracked your business and never tracked where your clientele comes from, is let's go back for the last 12 months.

Let's go back for the last two years, whatever you need to do. And let's say every transaction I've closed of every type, right? Every transaction of every type, whether it was a buyer, a seller, a lease, a condo, however you want to do it. It doesn't matter. Farm and ranch, however you want to categorize it is fine. But where did it come from? Was it a referral? If so, who referred them? Was it a sign call? Was it an open house lead? Was it an internet lead? Was it a paid lead? And if so, from where? Was it somebody responding to a social media ad campaign that you wrote? Was it somebody just contacting you from social media because they see your posts? Those are two very different aspects of social media and should be tracked individually instead of under one lump category.

Because if you're paying for ads, you want to see ROI, right? So all of those things. And then we want to apportion, okay, if I did a million dollars GCI, and I'm just throwing a number out there for ease of math. And I had 25 lead sources for my business this year. So all the million dollars of my GCI came from 25 different sources. Which ones had the greater percentages? Okay, did social media only produce 1%, 2% of that money? Not that that's not something to sneeze at. But did it only produce 1% or 2%? Is it something that my sphere produced 60%, 70%? My open houses produced 10%, 15%.

And the reason that we want to have this is so that we can focus our time, our energy, our planning, our dollars, our efforts, everything on the stuff that is providing us with the largest return on that investment. If you're spending hours and hours and hours in social media world, and it's fun, and you like making the videos, and you're doing all that, but you're not getting business off of it, then what is the point of taking all that time? When 70% of your business is coming from your sphere, wouldn't it be better to still do some social media so that you don't lose that presence, obviously, but spend and invest the majority of that time working with your sphere of influence to cultivate more business?

And then the question becomes, okay, I've done that, guess what? I only got X more business, or Y more business, was it worth that time? We don't know, and we'll never know if we don't track it, but if we track it, we know. So this is going to allow us to focus our efforts on the things that are going to give us the greatest return. You hear the term work harder, not smarter? This is the epitome of working smarter, not harder. This is where we get real smart with things, and we start looking like geniuses, and people are like, I don't know how you do all that you do. Well, it's because I put my time into the things that have the greatest impact, and I either delegate or delete the things that don't.

End of story. It's real, real simple. I hope that helps. I hope that now that we have an understanding of the awareness of the things that need to happen in our business, we can take that delegation skill, we can take that delete skill, and apply it there in those time blocks that we talked about on Monday. We now have transparency, so we know what we're doing with our time. Are we spending it on stuff that's generating revenue? Are we just wasting it? Are we doing stuff that's admin that has to happen, but it's no fun? Can we use our delegating and delete skills there? Maybe. Or do we just need to make better use of our time, which is probably the right answer. And then today, we're going to really know where we need to focus that time, where we need to focus those efforts, where we need to focus if we're delegating the money that's going to go to developing business from those areas.

Because we've tracked it, we've set aside what we need to know about the most, and we're going to go all in on those areas. So there you go. Awareness, transparency, focus. We've got two more days. Tomorrow, we're going to talk about taking our referral business, taking our sphere of influence business, our past client business, next level with just a few easy steps. See you then. Thanks for tuning in to Top 5.