(Video Transcript - lightly edited for clarity)
In my professional opinion, establishing your team culture is the most important and effective way to build a dominant real estate machine.
Culture, as Bob Corcoran defines it, is based on the four pillars of a great business:
Pillar #1: You only hire people based on who agrees to embrace your mission statement. You don’t have one? Develop it.
Pillar #2: Hire people that agree to embody your core values. If your team doesn't have them, develop them.
Pillar #3: Patrick Lencioni wrote a book called The Five Dysfunctions of a Team. This is mandatory reading for all my teams that I personally coach. New hires have 30 days to read the book, and give a one-page book report. Only hire people that agree to adhere to the five dysfunctions.
Pillar #4: Only hire people that agree to be self-managed and self-discipline. This is perhaps the most important of all.
When you have those four pillars in place, you will stand out as a team leader. With those four pillars, your world is going to change.
This is your business. You've spent huge sums building your brand. Build a brand that incorporates people who agree to abide by your vision and your plans for the future.
Once you do that:
- Your life becomes easier
- Work-life balance is in place
- And you make a lot of money