Last week, I discussed two critical points in The 2 Minute Drill: the myth surrounding the power of manifestation and conquering fear. If these concepts intrigued you, I encourage you to revisit the blog and delve deeper into these transformative ideas.
This week, let's explore a game-changing concept that can revolutionize your approach to real estate: the distinction between good and bad business. Best-selling author Joe Polish captures it perfectly with the terms "Halfs and Elfs."
HALFs, or Hard, Annoying, Lame (or Lucrative), Frustrating clients... drain your time and energy, leaving you with little reward.
On the other hand, ELFs, or Easy, Lucrative, Fun clients... are the ones that bring joy, profit, and fulfillment to your work life.
Now, imagine if you could identify your Green Zone—the sweet spot where 50% or more of your business originates. This is where you have a competitive advantage, and your efforts yield maximum results. By understanding your Green Zone and focusing at least 90% of your time, energy, and resources there, you can harness the power of specialization and create exponential and consistent growth.
Conducting a full-blown business audit will help you break down your business into three areas: Green, Yellow, and Red. The Green Zone is your bread and butter, while Yellow Zone business is related in some way to your Green Zone, and Red Zone business is one-off and unrelated.
Remember, not all business is created equal, and some opportunities are far more valuable than others. By understanding and leveraging your Green Zone, you'll experience compounding growth, with increased repeat and referral opportunities.
Time is your most valuable asset, and by knowing your numbers and precisely defining your Green Zone—whether it's based on price, geography, client type, or property type—you can work smarter, not harder. It's time to embrace the "inch wide, mile deep" approach, where you have a competitive advantage, rather than spreading yourself thin in areas where you lack it.
In conclusion, understanding that all business is not equal is a true game-changer. So, let's make the most of your time and unlimited opportunities by knowing your numbers, leveraging your Green Zone, and taking your real estate business to new heights.
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Have an incredible week.