Recently, I read an interesting article about Jenny Pruitt. She is an Atlanta icon in the real estate industry. Ms Pruitt is leaving the company she founded 18 years ago and retiring from the day-to-day operations of Jenny Pruitt Realty. She leaves a company that sales totaled over $1.5 billion dollars with 450 full time real estate agents and six offices in the metropolitan Atlanta area. Her plans are “to pursue personal development”, contribute more time to civic works and expand her speaking opportunities (she averages 75 per year).
This entrepreneur is truly leaving on top! Five years ago, she sold her company to HomeServices of America, which is owned by billionaire Warren Buffett. What was her new year’s resolution 18 years ago when she started her company? Stephen Covey says, “Begin with the end in mind.” What was Jenny Pruitt’s dream? Certainly, she launched her real estate empire with definite end in mind! How did she achieve success? What foundation did she set in place to build such a successful business? How did she position her company to be sold to one of world’s richest men?
Jenny Pruitt had a plan! And while most people will resolve to lose weight, stop smoking, stop drinking, get healthy or find true love, Jenny Pruitt had a definite plan for her business! Without a doubt, she had a resolution to turn her business into a billion dollar company! That is the difference between an average business owner and an entrepreneur! Jenny understands that you have to have a plan and a system to become successful!
What are the important steps? While I did not interview Ms Pruitt before writing this commentary, as a business coach, I believe that I can offer some insight into her accomplishments.
First, you must know and understand your business numbers. That is your profitability, expenses, clients, sales, transactions and leads. More importantly, you must know how to improve your business! What can you do to improve profitability? How can you attract new clients? What can you do you improve your sales? How can increase your leads? What is the return on investment for your clients? Who are you most profitable clients, products and services?
Second, find your passion and discover your joy! If you are not excited about your business, get out of it! Do not waste your time! Focus your energy on your passion! Life is too short! Tyler Perry, a successful actor, director and entrepreneur said, “Believe in yourself. All of you who have stopped dreaming, go find it, dust it off, and get back at it! It’s never too late! That dream that has been nagging you and won’t let you rest will lead you to your destiny. Go for it! It is possible! Faith can take you to fruition …when you believe!”
Third, appreciate YOU and your life’s accomplishments. Looking at your family and friends, talents and skills, and current business, name 10 specific experiences, people, assets, items what make you feel proud? Describe why you feel good about them! What achievements make you most proud? Appreciate what you have in your life!
Wayne Gretzy, the famous professional hockey player once said, “I skate to where the puck is going to be, not where it has been.”
This is the next fourth step: Innovation. Innovate. Innovate. Innovate. Then, innovate some more! If you are not improving your products and services, then you are moving backwards. Be advised, your competition is not resting on its laurels either! Get closer to your clients. Be responsive to their needs. Listen to their concerns and challenges. Then, you can create better products and services. In other words, become “client-centric”.
Fifth, embrace technology. By using technology, you can become more productive and efficient. As a result, you can control costs, reduce expenses and save valuable dollars. Instead of traveling to see every prospect and spending unproductive time on the road, why out connect with them on the Internet? Conduct an online presentation instead of a face-to-face meeting. When you have created a solution presentation tailored to their needs and concerns, then meet them face-to-face! It could save money and raise your profit margin! Discover ways to connect, collaborate and create opportunity by using state-of-the-art-technology.
So, as you are considering your new year’s resolution, think about how you can RESOLVE to make your business better and more profitable! Why do you make these resolutions just once every year? Why not RESOLVE to improve your business, every day and every week! Jenny had a dream. It probably was not easy. However, she worked on her business everyday for 18 years. She built a real estate empire and now she is living a dream life of comfort, luxury and financial security. What could be better? Jenny has total control of her life! She is doing what she wants to do!
Happy New Year to you! Make a commitment to build you business like Jenny Pruitt did! New year? Make it a new and better you! Someone who is building a better business! Make a pledge to build a million dollar or billion-dollar business! It doesn’t happen over night. The journey begins with every new business day! Dare to be great! It worked for Jenny Pruitt and it can work for you too!
Source by Kenneth Darryl Brown