How to Grow Real Estate Business Fast, with Jess Lenouvel
How to grow real estate business fast? It takes spending your three main resources correctly. Hear insights about:
- Why being intentional about your business rather than just focusing on the next deal is the secret to how to grow real estate business fast
- Why you must protect and leverage three key ingredients to build a seven-figure business: money, time, and energy
- How to evaluate which activities are worth spending your time on and which you should instead spend money on by hiring out
- Why Jess believes that the $200k-300k space is the most challenging period of running a real estate business
- Why hiring an assistant to take over some of your work requires onboarding them properly and setting them up for success
- Why too often people don’t feel worthy of seven-figure success, and why breaking out of that limiting mindset is crucial for scaling
- How to break your emotional attachment with your income, so that you’re prepared to reinvest in your business
How to Grow Real Estate Business Fast
My encore guest on this week’s episode of the Pursuing Freedom podcast says the most challenging period of a real estate business is found in the $200,000-300,000 range. At that point, you’ve achieved big success and it’s easy to convince yourself that you have to keep grinding like you have been to maintain that success.
At that point, one of three things is likely to happen. You might burn yourself out trying to keep up the pace with your work; or you might decide to scale back your business and sacrifice income for a more sustainable life. Or, if you’re clear and intentional about your next steps, you could break through that revenue plateau and suddenly begin buying back all the time you’ve been spending!
In our conversation in this week’s Pursuing Freedom episode, encore guest Jess Lenouvel shares tips and strategies for identifying which activities really do need your personal attention (meaning which activities you should spend your time on), and which activities would be better outsourced (meaning you should be spending money instead).
How to Grow Real Estate Business Fast: Spend Money, Not Time
The secret is to understand your three precious business resources: money, time, and energy. Think of all three as different kinds of currency that all have the power to grow your business. As the leader of your business, you should be focusing your time on the things that make the biggest difference. However, the necessary but minor day-to-day tasks don’t offer enough payoff for the amount of time you have to spend on them, so instead spend money to pay someone else to do those tasks.
Early in any real estate agent’s career, they typically have greater access to time and energy than they do money, so they grind harder. However, at a certain tipping point, time and energy become much more limited resources. That’s when money becomes the key to how to grow real estate business fast.
It’s Not “Your” Money
Too often, real estate agents see their business income as “their” money. After all, this is the payback for all the hustling and grinding, right? But, for your business to grow, Jess says it’s important to break your emotional attachment to that money and realize that it belongs to the business, not to you. You then pay yourself out of the business, but some of the money should be reinvested into future growth.
Jess also says it’s important to avoid tying your personal lifestyle to the health of your business. Just because you’re now making a healthy six-figure income, it doesn’t mean that you should run out and buy a new car or a bigger house right away. Instead, seriously consider how some of that extra income could be put back into the business, through hiring an assistant or through implementing systems to help fuel your future growth!
If you’d like to learn more about how Jess Lenouvel helps agents grow from six to seven figures, you can visit her website at www.jesslenouvel.com or join her Facebook group. And as always, check out www.pursuingfreedom.com for other great podcast episodes and interviews with industry professionals!
About Jess Lenouvel:
Jess Lenouvel is a Real Estate Expert and Founder and CEO of The Listings Lab, a virtual training and mentorship program for Real Estate Agents to get them from 6- to 7-figures. With over 15 years of experience, Jess helps agents overhaul their advertising and scale massively while leveraging the power of online marketing. Instead of relying on old-school, traditional methods used in the industry, she uses strategies developed through partnerships and real experience. Now as Founder of The Listings Lab, she has helped 1,000+ Real Estate Agents create a track record of huge results.
How to Connect With Jess Lenouvel:
- Seven Figure Realtor Blueprint: https://www.thelistingslab.com/guide/
- Website: www.jesslenouvel.com
- Facebook Group: www.facebook.com/groups/TheListingsLab
- LinkedIn: www.linkedin.com/in/jesslenouvel/
- Instagram: www.instagram.com/jesslenouvel/
- Twitter: @JessLenouvel