The Challenges
A lot of businesses make it seem like scaling their operations is incredibly easy. There are a lot of reasons that’s wrong.
The challenges
Economics – The business understanding of market structure
Real estate teams and their market structure
What are the competitive economic factors at play that are going to decide how your real estate team should compete versus other firms?
Monopolistic Competition with real estate teams
Real estate teams typically exist in industries that produce monopolistically competitive markets. That being said, what is your best strategy to beat your competition?
How does your team survive long term?
Once you understand how the marketplace, its best to now maximize the key performance indicators that lead to success under these conditions. Brand power. Product excellence. Innovation. Value pricing. Let’s see why.
The challenges
A poor understanding of the modern customer journey
Many real estate teams sell in archaic ways with no direction. Here are some keys to focus on during the sales cycle.
The challenges
Evolution in modern website requirements
Back End and Cloud Infrastructure
The cloud and back end is the engine behind your business vehicle. Sites need to be configured to networks, integrated with databases, protecting your assets, and more.
Integrated A/I, communications, & sales channels
Websites are now networks of bigger systems, systems where several applications that are tied into processes and data flows work together cross functionally.
Platforms with authority and expertise
Those that rank high understand the metrics to drive traffic, stay prominent with search engines, and have high retention rates due to well thought out loyalty programs.
Customer focused with a unique value proposition
SME businesses need to be an expert in a niche, provide excellent customer experience at every possible touchpoint, and consistently improve on those metrics.
Integrated with data systems and RPA
Automation with data means success. Clients are busy people that want the information they require now. Robotic process automation (RPA) with real time data is key.
The challenges
Traction isn’t product market fit
Although traction and sales is exciting and signifies growth and progress, it doesn’t prove that your product is a fit for your market. A strong sales pitch or a initial adopters can result in traction, but is it sustainable and can it grow?
Product market fit is going to be dependent on the data. You need to know the metrics which signify an elite customer experience, a strong brand, maximium profit, your exact target customer, and have cleaned up the problem areas within the business.
The challenges
Poor Systemization of operations
There are several areas that are vital to be both systemized and optimized, in order to scale up a business. Here are some of the key ones.
Too many manual steps
Too many handoffs, too much paper, too much done by hand, too little streamlined integration
Archaic Point of sale
Not having an online centric payment system integrated with credit card, trust, databases, financial, funnels, etc
No real time data
Too many businesses are downloading reports, doing data dumps, and using spreadsheets
Onboarding and offboarding
With both employees and clients, there should be a succinct systemization of authorization, files, legal, etc
Gaining new customers
SMB’s should be focused on closing deals, while expanding their customers should be left to automated workflows, AI tech for marketing, and automated CRM
Slow apps and operations
Your cloud and back end operations should be configured to optimize speed of execution, reliability, response, correct data, etc
The challenges
Now, let’s understand how to best solve these problems.
Although every company is slightly different, from a high level anyways, here are some of the key areas to work on in order to optimize and scale.
