In today’s business world, everyone is under pressure to get more done, to work more efficiently and increase productivity.
But how do we make sure we are getting the best “bang for our buck” when it comes to our own productivity? The answer is not to work more, rather work more intelligently and to put strategies in place that are designed to achieve more with your time and resources.
In other words: we need to Strategise You Inc.
Where do we start?
We are all familiar with the 80:20 rule in terms of results and activities whereby 20% of your activities will drive 80% of your results.
The issue I see with this concept is that often we focus on the lower value activities and put off the bigger or more important activities. Doing this time and time again will not produce the right result. Instead, I believe we need to add time in to the mix.
Afterall besides energy, time is the single most important thing you can put in to your business.
If we mix the equation around and put 80% of our time into the 20% of activities that produce 80% of our results, all of a sudden you are looking at a far more effective strategy that could make a real difference to your productivity.
80% Time = 20% Activities = 80% Results
Results Profit Zone
We can also start to incorporate this new shift of thinking in to our results profit zone. The results profit zone is underpinned by the idea that the more dollar productive you are, the better results you will produce. Traditionally agents would immediately bring this back to listing and selling. But what if we shifted our thinking to managing our pipeline and generating leads? I feel like I need to insert a footnote here! I’m not suggesting listing and selling aren’t important, but with the right mix of dollar productive activities and appropriate measures in place, listing and selling should naturally flow. What I am saying is that if you also dedicated some of your time to pipeline and lead generation, all of a sudden the increased number of qualified meetings and potential listings will be there for you to capitalise on. It’s food for thought.
Short-term $ producing activities vs medium-term
Working more dollar-productive hours are critical to boosting team productivity. Sometimes the success of these activities is dependant on the market. For example, if the market was in momentum some agencies could manage by only undertaking short-term dollar producing activities such as:
- Listing appointments
- Buyer/seller calls
- Seller meetings
- Open homes
- Private showings
These activities all rely on keeping commitment to people so are much easier to achieve. On the other hand, when the market is not in momentum (such as now), medium-term dollar producing activities become more critical.
These activities include:
- Training and role playing
With these activities, results are not always obvious instantaneously but will certainly get you moving forward and with momentum down the track.
Strategising You Inc.
The most important thing to remember when formulating a strategy to boost your productivity is that you need to measure productivity in terms of how much you accomplish – not how busy you are.
hile there are certain activities we must do each day if we want to be successful in business, it is also good to think outside the box and take a longer-term sustainable view as opposed to a short-term fix.
A great line I like to use that I believe perfectly sums this up: “Don’t freak out when you haven’t got a listing, get excited when you have 10 in your pipeline”!
For further assistance in creating your productivity strategy contact check out Drive Performance – www.driveperformance.com.au