Definition: mas·ter·y, noun 1. Comprehensive knowledge or skill in a subject or accomplishment.
I had the privilege and honor to spend two amazing days with a mentor and good friend of mine Richard Robbins recently at his “Secrets of the Masters” event. The event focused around the business fundamentals of real estate that work in any economy and market but more importantly what it means to be a master of your craft and the value you bring to the marketplace is what you get back in your income. There are six key areas in business and in life we all are striving to the level of Mastery.
1) Life Mastery – The ability to see things as we would like them to be, not just as they are today. Having the future focus ability of focusing our thoughts on what we intend to create in our future business and life. We are empowered, motivated and inspired to take action that will move us all in the direction of our goals and dreams. The future is where you spend the rest of your life and without a clear vision we repeat and live in our past. Hope of a better future inspires us to take consistent action toward achieving our goals. “Create a life that feels good on the inside, not just one that looks good on the outside.”
2) Lead Generation Mastery – The number one reason most agents and their business fails is their inability to generate new business on a consistent basis. Mastering lead generation is key to our success in real estate. We generate leads from only two groups in our lives. The people we know and the people we don’t know. Customers we don’t know are elusive, demanding and believe they know more than you do. “All things being equal, people will do business with and refer business to, those people they know, like and trust.” Bob Burg
3) Sales Mastery – Having the sales skills is important in any market or economy. Knowing what to say and how to say it is so important to any agents success. Change your words and you change your worth in sales. Sales is your ability to influence other people and the greater the influence the greater the success. You cannot make this business on personality alone but you need to practice and desire improvement. Will Smith said others may have had more natural talent but nobody had the sickening work ethic I had. “As soon as you stop wanting to be taught, mentored and coached you are in trouble.” Peyton Manning.
4) Planning Mastery – There are 5 simple planning secrets in real estate and in life.
1) Adjust your income to your dreams and not your dreams to your income. Budget for the life you want to live.
2) Make the big numbers small. Break everything down to the minimum. How do you eat an elephant? One small bite at a time.
3) Track the past to predict the future. Track your sources, return on investment, what works, what doesn’t work and set goals based on the numbers you measure.
4) Create a budget at home and at work. Know what it costs to run your business and your life and stay within those budgets.
5) Have a plan in advance for your sales and marketing. Who, what, when, where and how you are going to market to for the week, month and year and follow it!
5) Financial Mastery – When income from invested assets (not business income) exceeds your living expenses projected out over time, you are said to be financially independent or financially free as some call it. Financial dependence is when you do not have enough investment income to sustain your lifestyle. Learn to master your money and not let money master you. Have the discipline to be the money manager you want to be and to grow your wealth and become financially free!
6) Self-Mastery – How are you feeling mentally, physically, emotionally and spiritually? Do you have work, life balance? Do you delegate and systemize and leverage your time and energy with something else or someone else? If we are not good then how can we be good for others. Og Mandino said the world’s greatest miracle is "you". Do you believe you are the world’s greatest miracle or treating yourself like you are.
So there you have it the six areas of mastery in business and life. Take a bit of time each day to work in each of these areas and begin to master your business and life. Become that person the market truly values for what they have to offer and put out. I dare you to get out of your head and into your greatness!
Strength and courage,
Wade
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