During Episode 87 of The HyperFast Agent Podcast, host Keri Shull speaks with Mike Bernier about shifting your mindset to start treating your business like a business. He shares the critical changes he made to get past burnout and to start thinking like a real CEO. This episode will help you think about operating at a higher level to achieve higher-level growth.
Episode Highlights:
- Mike Bernier’s career followed a progression from being a solo agent to a top producer to a team leader to a broker.
- He spent many years trying to do it all himself and it destroyed his life.
- It can feel like the more successful you get, the harder it is to have a life.
- Making that transition from conducting business to owning a business is a place that most of us never really get to because we can't let go.
- He formed a new business, Realty Group, with partner Long Doan.
- They started by thinking about how they could help other people in their businesses.
- Their team now includes 425 agents.
- He stopped thinking like a revenue generator and started thinking like a CEO.
- Thinking like a CEO involves thinking about how to duplicate and replicate processes and how to focus on operations instead of transactions.
- Shifting his mindset did not happen overnight.
- Running a business like a business means revenue generation is not solely on you.
- If you look at the profiles of top CEOs, you’ll see that the more you scale the less active you have to be.
- Ask how you can maximize your revenue generating activities.
- Ask how you can incorporate vertical integrations.
- There are five problems you must solve to win at real estate.
- The first problem is earning a consistent income.
- The second problem is efficiency.
- Outsource the things that do not serve you.
- Time is the ultimate equalizer, so buy back your time.
- The third problem is scale.
- The fourth problem is profitability.
- Many people quit right before they see the return on their investment in people and systems.
- The fifth problem is creating residual income to replace the business income.
- Many realtors become stuck on problem two.
- Successful people approach obstacles from different angles.
- Mike had to let go of the pursuit of perfection.
- It’s all about the process.
- In order to grow at a high level, you need to focus on higher level activities.
- Keep setting goals and pushing past discomfort.
- Keri describes a moment she had at a Tony Robbins event when she realized she had lost her vision.
- Part of what will get you re-engaged when you lose your vision is really engaging with your people.
3 Key Points:
- Mike began thinking like a CEO by focusing on operations instead of transactions.
- There are five problems you need to solve to be a successful realtor. They are consistent income, efficiency, profitability, scalability, and creating residual income.
- Let go of the pursuit of perfection and focus on process.
Resources Mentioned:
