A Five-step Strategy for Team Success
Tuesday Mar 15th, 2022
How do you pull together a disparate group of individuals and get the best from your team? In his book The High-Performing Real Estate Team,(link is external) Brian Icenhower, a real estate coach and CEO of Icenhower Coaching & Consulting (ICC),(link is external) discusses five actions to provide team growth: Establish a viral goal, focus on activities first, cultivate personal responsibility through public accountability, drive growth with a team dashboard, and huddle up. This book provides a thoughtful discussion for team leaders, including how to structure a team, create team goals, and increase accountability for all.
When determining how to measure team performance, Icenhower says, it is important to distinguish between Activity-Based Indicators (ABIs) and Results-Based Indicators (RBIs). ABIs, such as open houses held or contacts made, drive you toward results. RBIs measure what’s already happened—gross commission income, listings taken, and contracts written. The Pareto Principle (also known as the 80/20 rule) suggests that a few activities will give you the most bang for your buck. Tracking your ABIs will quickly uncover the 20% of activities that deliver 80% of your team's results, Icenhower says. You could spend most of your time on non-essential busywork or concentrate on tasks that promote your specific team goals. This book helpfully outlines specific activities for each team member—including team leaders, listing and buyer agents, and administrative staff.
The author suggests creating a dashboard with your team goals to promote accountability, provide motivation, and maintain focus on the important numbers and activities. The dashboard can also diagnose problems and drive growth. The online resources(link is external) section has several examples of spreadsheets and graphics and additional downloads mentioned in this book.
Another important action Icenhower recommends is to have a weekly growth huddle with your team. Keep the huddle to 20–30 minutes weekly. Never skip a huddle—hold them consistently for the greatest effect. Skip the coffee and doughnuts to focus on the essentials. Allow all members of the team a chance to lead the huddle, use the time to focus on your team dashboard, and have a productive conversation about your ABIs.
The High-Performing Real Estate Team shows you the way to discover and implement your team goals, focus on your annual business plan, uses your team dashboard to show progress (and problems), huddle up to create team spirit, increase growth, and empower your team to be the best they can be.