I picked up my latest copy of Inc Magazine the other day. The cover article was an interview of blockbuster author Jim Collins – who wrote Good To Great and Built To Last. Interestingly, he is absolutely passionate about entrepreneurs – and he views those two classics as being ABOUT entrepreneurs. If you are a licensed real estate agent, whether you realize it or not, YOU are an entrepreneur.
Jim offered an interesting perspective about the evolution in thinking around entrepreneurs and this relates directly to running our real estate marketing business.
Business schools are now teaching entrepreneurship:
In 1979, there were almost no entrepreneurship courses in business schools whereas today there are hundreds of them. There is a plethora of literature on the subject and resources available.
There has been a cultural shift in attitude towards entrepreneurs:
Today’s attitudes towards entrepreneurship have shifted dramatically since Inc Magazine’s first appearance in 1979. Not only are entrepreneurs socially acceptable, they are sometimes viewed as today’s modern hero!
Building a business used to be about building a better mousetrap:
Rather than building a better mousetrap, business is about building a better PROCESS. If the process is in place, than a company can add LOTS of mousetraps. In the real estate industry, this is sometimes tagged “one stop shopping”.
Web 2.0 has created the phenomena of companies becoming movements:
According to Jim Collins, there are 3 stages to every business: 1. Have a great idea. 2. Build a business to implement that idea. 3. Build a great company that can implement MANY great ideas. However, some companies become something even bigger than themselves – they become a movement.
We all know it when we see it – customers that are raving product fans and tell all their friends they MUST buy that product. That is when a company becomes a movement. And imagine the impact of this to your real estate marketing efforts.
But how do you create a movement?
1. Your business is much bigger than you – and it is more than about “just making money”. You must think from your customer’s viewpoint – how can you best serve them? What do they need? How can you be of help?
2. Identify your niche market – who benefits most from your service?
3. Talk to your ideal prospect in THEIR language by creating an “organic” (from the bottom up) USP.
4. Utilize social media and provide your ideal prospect with the valuable information they are looking for.
5. You can build a community using a social media tool such as Facebook or a “ning” site. Once they become part of your community, you want to create chances for them to respond to you directly.
6. Once they “opt in” to your private database, continue strengthening your relationship with them making them an “Insider”. Then sit back and wait for your “sales team” to go to work for you spreading the word about your great service!
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