Squirrels

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The squirrels in your business go about their business and can cause huge disruption and even stop growth.

Topic – Why successful ideas fail in business

Mentor – Jacob Aldridge – Co-Founder of Real REACH

  • Distractions
  • Focus on implementation
  • Is there a time to move fast and break things?
  • Ideas are worthless – execution is priceless

Marketing Monday – want more publicity for you or your properties.  A great tip today.

Transcript:

Kevin Turner: Good morning and welcome. Nice to be back with you again for another week. I’m Kevin Turner. And today’s show produced in association with PropertyTree from Rockend, Printforce, LockedOn and View. Take us with you on your morning walk or listen to us on the way to work. You’ll find us at Facebook and Twitter as realestateuncut. PropertyTree, of course, is the secure, Cloud-based property management software designed by Rockend which will save you time and take the stress out of your working day.

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Kevin Turner: Well, today for our marketing tip Carolyn Boyd joins me, a property expert from domain.com.au. Good morning, Carolyn.

Carolyn Boyd: Good morning, Kevin.

Kevin Turner: I know one of your pet hates is photographs. But you say that the photograph can actually get a property into the media more?

Carolyn Boyd: It can. Now, as a journalist I’m often looking for houses to run in the newspaper and online for free. And I look up all these real estate ads, and many of the photographs I see just are not suitable. They’re not usable.

Kevin Turner: Yeah. Well, what are some of the problems? Give us some tips, things we should look out for.

Carolyn Boyd: Well, often they’re too dark. You can’t really see the house. They might have ugly things in them like shampoo bottles, rubbish bins, hoses, pool cleaning pipes, that sort of thing. Or they might even just be a shot of the toilet rather than of the whole bathroom.

Kevin Turner: Yeah. And even sometimes the toilet with the lid up is a no-no.

Carolyn Boyd: That’s right. You often get the feeling that no-one has bothered to even tidy up or sort of declutter before they’ve taken the picture.

Kevin Turner: Yeah. I’ve actually watched professional photographers and they’ll just spend so much time just setting up the photograph and making sure that everything’s right. And then they look back into it to see what they’re actually photographing, not just the overall view.

Carolyn Boyd: Mm. And, look, even if you’re not using a professional, if your vendor won’t pay for a professional, I think that you could just explain to them the importance of you, yourself, even decluttering before you take the photo. Move all those bits and bods out of the shot. Turn the light on, open the curtain.

Kevin Turner: I know too I’ve Googled photographic courses. There are so many of them available all around Australia. No matter which capital city or even regional area you’re in, you’ll find something that you can go to and learn some of these tricks.

Carolyn Boyd: Yes. And I know that when you do the real estate training, you don’t necessarily do the photography. It’s more about the legals. But I think it’s very important. If you don’t attend a course, at least go to the local library or the bookshop, get a couple of books and have a read through. And that might give you some ideas as well.

Kevin Turner: And what you said at the start there, Carolyn, you’re always looking for properties to feature?

Carolyn Boyd: I am, always. Because often I might write a story about real estate, then I want to show a couple of examples of those types of properties for sale. And, unfortunately, I look at even very expensive, you know, multi-million dollar properties and they’re still not photographed in an appropriate way to get them into the newspaper.

Kevin Turner: A great tip for you this morning from Carolyn Boyd, a property expert from domain.com.au. Thanks for your time, Carolyn.

Carolyn Boyd: Thanks very much, Kevin.

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Pre-recorded: More thoughts now from this week’s mentor.

Kevin Turner: Well, over the last few months we’ve been producing a programme called If I Had My Time Again, where we’ve spoken to many wonderful leaders in our industry. And they’ve told us the lessons they’ve learnt since they started their business. It’s all part of a programme called Real Reach. And I’ll tell you more about that. But one of the co-founders of that, and also from businessDEPOT, is my guest this week. Jacob Aldridge. Jacob, thanks again for your time.

Jacob Aldridge: Always a pleasure, Kevin. Great to talk with you.

Kevin Turner: Now, Real Reach is all about helping you set up, run a very successful business. If that’s what you want to do, then you’re going to find all the answers inside Real Reach. And we’ll tell you more about that in the weeks and months ahead. But part of setting up and running a good business, Jacob, is really understanding what can go wrong. So that’s really what we’re talking about this week, is why successful ideas fail in business. And I understand this is also a bit of a preview about what’s inside Real Reach?

Jacob Aldridge: Yes, this is one of the programmes we’ve got inside Real Reach ready for when it launches. So we’ve identified 12 key reasons why even the most successful businesses fail to implement their great ideas. And therefore what the principals that are listening can do a little bit differently to be the exception to that rule.

And so I’m really excited to share today and in our discussions this week some of what I see as the top five reasons why, you know, business owners out there have a great idea, they take it to the team and it never goes anywhere. Which can be very demoralising.

Kevin Turner: Yeah, and we deal a lot with that inside Real Reach. We’ll tell you more about that but this will give you a bit of an idea. What’s the first one we’re going to cover, why successful ideas fail in business, Jacob?

Jacob Aldridge: Well, I call this one Squirrels, which is named after the movie Up, which you may have seen where you’ve got a lot of characters that are very, very intent and very, very serious. But you run a squirrel past them and they all get very, very distracted. I’ve also heard it called Bright Shiny Object Syndrome. And it’s something that a lot of business owners like you and I are experienced at. We’re the sort of people that love a great idea. We love latching onto something that’s bright and shiny and new.

But it can be quite a distraction. And when you’re trying to implement a great idea in your business, getting distracted by the next idea, or the next squirrel that comes running past, is only going to mean you never actually properly implement anything.

Kevin Turner: Is that why we see a lot of things started but not finished, is because we think, “Oh, well, that didn’t happen quickly enough. I’ll go and find the next bright, shiny toy?”

Jacob Aldridge: Absolutely. It’s the nature of entrepreneurs to move fast and break things. And, unfortunately, with a lot of strategies, plans in business, we do need to take the time to actually properly plan them out. And if we don’t take that time, then we jump from an inspiration right straight into implementation without actually taking the time to plan it out.

And then the implementation doesn’t really work because we haven’t got a plan and we haven’t been able to hand that over to our team. We haven’t been able to learn everything that we need to learn about it ourselves. So it doesn’t work, it doesn’t work immediately. And that just makes it all the more attractive to go on to the next thing, the next thing you hear about at a breakfast or the next idea you pick up at a conference.

Kevin Turner: Jacob, is there a time for you to move fast and break things?

Jacob Aldridge: Oh, absolutely. And I think especially in the early stages of business there are so many things that can go wrong in a business. You don’t want to get bogged down by trying to be too perfect all of the time. But if you’ve got an idea that you know the business needs, and deep down, most principals, we do have that understanding intuitively of the key things that our business needs in order to be successful.

And so it’s giving ourselves permission to slow down on those important elements to actually plan it out, to go, “Well, I need to do these 10 things instead of just the first two things.” Or I need to plan to roll out a Facebook page is a great example of something. You’d kind of listen to a podcast and they’d say you need a Facebook page. And so you launch it, you hand it over to the receptionist that day and you never think about it again. Well, no, you need to plan out exactly how you’re going to maintain that for the long term so that you actually get the benefit from that great idea.

Kevin Turner: Okay. I suppose we’re coming up to a difficult time too, ’cause we’re headed towards AREC, which is I guess the time when the squirrels will come out when you come away with a whole heap of great ideas, many of which will probably never, ever get implemented.

Jacob Aldridge: It’s a great saying that we’ve been bandying about at Real Reach, that ideas are worthless and execution is priceless. And, you know, ideas are great. You can get a million of them for a dollar. And AREC is one of the great conferences that we have in the real estate industry every year.

I’m not saying don’t capture those ideas, don’t write them down, don’t discuss them. It’s just you’re not going to be able to successfully implement all of those ideas at once. So work out the one, two or three that are going to have the biggest impact and give them the time that they deserve. Because once they’re up and running, you’re going to be larger, more revenue, more profit, and you’re going to have more energy to put into the next idea and properly executing that.

Kevin Turner: Well said, Jacob Aldridge, my guest this week. We talked about squirrels today. We’ll be back with another one of the reasons why successful ideas fail in business.

Jet Xavier: The great civil rights activist Rosa Parks said, “I have learned over the years that when one’s mind is made up, this diminishes fear.” Be certain about what it is you need to do to create success in your life and business. I’m Jet Xavier. Have a great day.

Kevin Turner: Thanks, Jet. That’s it for today. Thanks for your company. I look forward to catching up again tomorrow morning.

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