What is Your Business Philosophy?

Provided By Realty Times

What is your business philosophy? Do you know the answer? You should be able to write it out and articulate it clearly. Whether you know it or not, you do have an answer. Your standard business practices and procedures for what you do make up your business philosophy. It is the guidelines you follow for daily business.

One part of your business philosophy should encompass your value per hour, which is the amount of money you are worth per hour. What are you willing to do to earn the money you make per hour? It could also encompass your average commission check. If you understand your value per hour and your average commission check, you can determine the type of people you are willing to serve. Some Agents may not be able to help people in a certain price range because of their hourly wage or average commission check amount.

If you have developed and understand your business philosophy, you are better equipped to qualify potential clients. When the buyer does not give you the exact answer you need, you can refer him to another Agent in the office or drop him because he does not meet your philosophy.

You were not put on this earth to help everyone buy or sell a home. There are people you cannot help. There are people who, as much as you try, really do not want your help. Although most Agents will continue to work with them, hoping to win them over, my philosophy was wishing these types of clients the best of luck and sending them on their way. You should consider doing the same thing. Often, these people actually believe they know more about selling and buying than Agents do. Now why would you want to spend your time trying to prove to them that their reality is false? You are going to lose either way in that discussion. Wouldn’t you be better off to throw them back like an undersized fish? Let someone else catch them and waste their time. The truth is that fish is not going to grow much more once you put it in your bucket, or do I mean car! This strict philosophy does not make the people who don’t fit your business philosophy bad people. It does not make you a bad person, either. It just makes you a businessperson who expects a reasonable profit for the time you are investing.

Once you are clear on your philosophy of what a client is and what you expect from them, you do not have to deal with people who do not conform to your philosophy. You need to concisely define your world of business. This definition will enable you to better select the people to serve. We have all selected the wrong people, spent large amounts of time and money working with people we should not have, and felt awful afterwards. In some instances, we were never paid or appreciated for our efforts. You will feel much better turning them down before you invest your time, energy, and money in a losing cause.

Knowing the client you are looking for before going out to search for clients will enable you to find them. There is a law of life called the law of attraction. That law clearly states that you will have a tendency to attract what you are thinking about and looking for. For example, if you were thinking about buying a black Jeep Grand Cherokee, and you went out driving, it is amazing how many your mind will find on the road. You may never have noticed them before, but because you are contemplating a purchase, you see them everywhere.

Do not get frustrated if you are having difficulty finding clients who meet your business philosophy. You will ultimately attract the well-defined client you are looking for. Why not create a strong philosophy and definition of your clients, so you will start to attract those types of clients? You will also learn to quickly dispense with those who do not meet your standard or philosophy, so you will be able to invest your time wisely to find the right clients for your business.