Episode #87 Treating Your Business Like a Business with Mike Bernier

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:

  1. Mike began thinking like a CEO by focusing on operations instead of transactions.
  2. There are five problems you need to solve to be a successful realtor. They are consistent income, efficiency, profitability, scalability, and creating residual income.
  3. Let go of the pursuit of perfection and focus on process.

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