Evolution Revolution-Ball of Confusion

Click here to listen to Ball of Confusion by The Temptations

Somehow seems like our world is a ball of confusion.  When you hear the lyrics they apply more  today than back in the 60’s.  Whats the old saying… “the more things change the more they stay the same.”

The past few months I have been writing about the evolution/revolution (or lack thereof) across most businesses.  There are some industries (banking/finance) who don’t change and we continue to be bail them out.  Hard to get people to change when there is no incentive.

Pressure causes each of us to react differently and in our company the reactions were varied.  For us there was doubt and this ball of confusion about strategy and long-term survivability.  One of the benefits of our forced evolution the past 2 years (as a result of the economic melt down) was figuring out how to measure everything from expenses to income opportunities and the earning process. Measuring adds an accountability principle (pressure) t0 into an industry known for its cowboys and shows up as pressure to perform.   We actually created 4 new business lines, tightened our fiscal belt like every other company and added accountability as part of the evolution/revolution process.

Today I write about the evolution/revolution at my company.  This week we had 2 brokers leave the company which puts the total in the past 6 months at 5 (out of 14).  There is always movement of brokers in our industry from one company to another and I’ve never really paid attention to that sort of thing until now.  To clarify; 3 brokers and the focus of this rant left for other companies and the other 2 left the industry which was the right choice. On the surface and to the outside world including our competition it could appear as though my company is coming apart at the seams (it’s not) and there “must be something wrong”.   I don’t really care about our competition but I do care about our clients and the remaining folks.

I’m losing good people for what I believe are the wrong reasons.  There is no barrier to entry to this fabulous industry but there are severe longevity barriers.  The good news is those not properly equipped for the industry recognize that fact and find something else to do.  Most people however look outside themselves as to the reason for their lack of success.  I’d love to do a study to determine if moving to another company actually changes the income long term.  In the short-term many benefit in the short term as many brokerage companies are offering signing bonuses and/or preferred commission splits but what about the long-term benefits and success?

In real estate; like most service industry’s consistent income-creation activities are basic required functions.  The interesting point; it seems to me; is this habit is an individual change and not contingent on the name of your company.  However if changing companies causes the individual to change something other than the name on his business card then it works and was the right thing to do.  Maybe changing companoies increases confidence and causes individual change.

I wish all sales people in the industry well in all that they do but in particular I wish them the courage to seek and embrace change.  Self change (evolution) is the hardest and often the last and typically forced.  I regret losing people because I feel like I failed but cannot control a humans reaction to change and pressures.

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Our company helps business and property owners understand, create and maximize value in commercial real estate portfolios.

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Posted in Bank financing, Banks, Consulting, Development, Financing, Lending, Real Estate

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