In my previous career as a healthcare administrator, I became educated in principles of quality improvement. I studied folks like Deming, Juran, and Drucker so that I could understand principles of improving care and safety for my patients. One of the principles of process improvement was the Pareto Principle: The 80/20 Rule. Basically, it is like the spiritual law of reaping and sowing. The time and effort that you spend on the important 20% of your business will deliver 80% of the results we seek. It works in healthcare and in real estate!

This is not as easy as it sounds. Remember a few blogs ago when I talked about the E-Myth? A new agent is the owner of a new small real estate business! You are the owner, chief executive, chief financial officer and accountant, marketing director, lead generator, listing agent, and buyer agent, etc., etc., etc. There is not enough"?time in the day!

During Family Reunion 2006 (Keller Williams), I attended a seminar by Gary Keller, and he said that you have to focus on the 20% of the business that matters: leads, listings, and leverage. He said that the "80% will be a pure mess". You have to let it be a mess or the business will not make it. That is really hard to accept, but it is true. A new agent cannot usually afford an assistant: there is no one to delegate to! You either do the work yourself, or it doesn't get done.

I decided to write about this issue this week, because I figured new agents may be feeling some of the frustration that I feel everyday. The workdays are long (I average 14 hours, with no days off!), and am still operating at a loss. Sound like something is wrong with me? Not according to all of the data and experts. I am normal and fortunately still in the game! I am determined to develop my brand and market niche. There are many days that I wonder if I am going to survive, yet, somehow, things work out, like "manna"from heaven. I am not talking about excess, but that my needs are met. For me, that is faith.

This week, stay focused on lead generation, lead management and lead follow-up. Be sure that you are working from a written business plan. It will take us, as new agents, time to generate enough good leads so that the ones that don't work out don't hurt so badly.

Leads: An agent is in the lead generation business. Without them, there is no business

Listings: Expanded market visibility, maximized use of time and more business

Leverage: Business growth, systems development

Have a wonderful week, and let me know how you are doing!

Kendra