iNNOVATION Leads To Success
innovation: new ways of doing things
Ongoing innovation ...continuing to find new ways of doing things better...is the best way to succeed over the long term.Innovation in Real Estate
Dave Liniger, who with his wife founded RE/MAX, is one of the greatest innovators in the real estate industry.
Until the mid 70s, real estate companies controlled the industry.
At the time, commissions were usually split equally between agents and their brokers or companies, For the most part, the brokers or companies paid expenses from their share.
With the arrival of RE/MAX, the industry became more agent-focused, with the agent's share often reaching 90% of commission.
With the RE/MAX innovation, agents paid a monthly fee to the office. In return agents paid their own expenses and received up to 95% of the commission.
The Internet brought the latest innovation in the real estate industry.
Now, with access to the same information as agents, the industry is client focused.
Your best response to this latest industry shift is to follow Dave Liniger's approach--discover new ways of doing things.
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You Can Find New Ways of Doing Things
Although most people can be innovative, few people pro-actively choose to do so.Perhaps they doubt their own ability to find new ways of doing things. Or maybe they believe that innovation is something that other people...not them...do.
Innovation requires you to look beyond doing things the way they have always been done.
If for example, you've always spent half a day phoning prospective clients, maybe it's time you found a new way of finding leads.
After all, the perfect storm of do-not-call lists, voice mail and call display have probably reduced the number of people you can actually speak to.
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Maybe you can try direct mail using carefully prepared letters and unique advertising specialties.
Or perhaps instead of door-to-door canvassing you could simply do a walk-about in your neighborhood and had out business cards to people you meet.
Regardless of how you have always found leads, ask yourself how you can do it differently and how this approach might be better.
Stretch beyond the limitations that you have placed upon yourself and create new experiences in all aspects of your marketing, from prospecting to client service, from Internet marketing to generating referrals.
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How To Be More Innovative
1. Understand that change is the only constant
Many people have
commented on the constancy of change. Isaac Asimov, Russian-born
American author probably said it best:
The only constant
is change, continuing change, inevitable change, that is the dominant
factor in society today.
No sensible decision can be made any longer without taking into account not only the world as it is, but the world as it will be.
No sensible decision can be made any longer without taking into account not only the world as it is, but the world as it will be.
2. Allow yourself to innovate
Activating your
innovative abilities
starts with giving yourself permission ...the freedom to consider new
ways of doing things. Although it may take time for you to develop
new ideas, don't worry, it will happen.
By concentrating on your goals, you will have a vision of the results that you desire and can can bring about. It this vision of success that energizes your innovative powers.
In turn, this vision encourages you to think of new ways of thinking and doing things. Your vision draws you forward and stimulates your innovative abilities.
By concentrating on your goals, you will have a vision of the results that you desire and can can bring about. It this vision of success that energizes your innovative powers.
In turn, this vision encourages you to think of new ways of thinking and doing things. Your vision draws you forward and stimulates your innovative abilities.
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3. Limit the number of changes
Trying to change too
many things too
fast is a recipe for disaster. Prioritize the
changes you want to
make.
Start with the simplest in order to develop the momentum and the confidence to take on major changes and improvements.
Start with the simplest in order to develop the momentum and the confidence to take on major changes and improvements.
4. Hope for the best but expect the worst
Innovation can be
risky...things will
not always work out the way you plan and expect. But that's normal.
Learn from your mistakes and move forward to achieve the results that you desire.
Learn from your mistakes and move forward to achieve the results that you desire.
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5. Maintain the momentum
Effective innovation
is like effective
planning...it must be implemented continuously and consistently.
Track your results and continue to improve what you are doing.
Track your results and continue to improve what you are doing.
We live in a quickly changing work with constantly evolving markets and shifting market conditions. From experience, we know what worked in the past probably won’t work as effectively in the future.
The best way to continue to succeed is to remain open to innovating...continuing to find new ways of doing things better.
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