Ready to Step Out of Production? Advice For CEOs Considering It
I’m extremely passionate about vision … and I know you are too. With the proper vision in place, you can take control of your business, get what you want, help your team get what they want, and become a CEO who eventually steps out of production.
Our team’s story began in Atlanta in 2008 on the cusp of the housing crisis. Determination and a strong work ethic helped us weather the difficult market until 2011, when someone handed me a red book and said I ought to follow what it said. We took it to heart and used The Millionaire Real Estate Agent as our playbook. We focused on hiring accordingly by bringing on an assistant. With the assistant on board, we doubled our business – and, when ready, hired buying and listing agents who, collectively, helped us skyrocket.
Just how much did our business grow with the right team in place?
From 126 units for $42 million in 2013 to 305 units for $121 million last year; today, we’re the top-producing Keller Williams Realty group in the Southeast Region (Georgia, Alabama, and Tennessee).
Step Back to Propel Forward
During this time, I’ve learned that to construct a winning team, you have to move out of playing and become a CEO.
It began with this quote from Gary Keller:
“When the coach is a player, the accountability is compromised”
When I heard those words, it changed everything for me. At the time, I was doing about 90 listings. Everything was great, yet something was missing. I was holding myself back, and by extension, was holding the business back. Gary’s statement jolted me, and I began jotting down examples of great football coaches. It didn’t take long to see what they had in common: They didn’t throw passes, block, tackle, or kick field goals. They coached … and it was time for me to do the same by moving out of production; when I did, the team’s performance grew exponentially.
If you’re a successful leader and business owner, maybe you’re wondering – is it time to take myself out of the game? It’s an important question to ask and a daunting move to make. But trust me, it is a step with several rewards.
Tips for Moving Out of Production
Here are some action steps to take as you work your way through when and whether to leave production:
Identify how many people you need to achieve your goals and dreams.
What is the someday potential of your business? How big do you dream? What does it look like? First you think it, then you say it, then you have to do it. In order to go 7th Level, you HAVE to have 7th Level talent … people who do things as well or better than you do.
Align yourself with the right people.
To get that 7th Level talent, we have to make sure we’re attracting them. Like John Maxwell says, “We don’t attract what we want. We attract who we are.” What are you doing to attract the right people?
Work on yourself first and make sure you mirror what you want. Are you earning the right to be in business with exceptional people?
Gary Keller says you’re only three key people away from a million dollars. With the right three in position, it allows me to work on the business, so that I’m not the coach and the player and can do the same for you.
Who are these magnificent three?
- An executive administrative assistant
- A lead buyer specialist – hire someone by thinking of what you hope they’ll become
- A lead listing agent – they’ll model what you model and build a business that creates a life worth living
And, in order to attract and retain these roles, you must:
- Be clear on your mission and vision every day. Constantly talk about it in team meetings, daily huddles, and 10-minute phone calls. (Your culture has to be alive!)
- Don’t be the smartest person in the room. Bring in big thinkers and people who know the MREA principles backward and forward.
- Establish big goals and know what it takes to achieve them using the MREA models.
- Coach and consult with them weekly.
- Seek a five-year commitment for big opportunities. This gives them time to grow.
- Invest in taking the Leverage Series. Gary Keller has challenged all of us in his mastermind group to take the Leverage Series twice per year. It’s the foundation of our hiring efforts; I can’t imagine operating without it.
Be the driver, not the driving force.
You’re not the engine; you’re the driver. You don’t have to know how the anti-lock brakes work or how the engine runs to be able to drive your car. In the same manner, build organizations that are predictable.
With the right people, you can work less and make more by working ON the business, not IN the business.
You’re always working on something. Are you building systems to help people produce, or are you producing?
- Get clarity on what you want and build your organizational chart to reflect that reality.
- Understand your mission, vision, and values so you can attract and retain the best talent with alignment.
- Maintain accountability systems and standards. Gary says, “Growth happens under talent.” That’s the litmus test. If growth doesn’t happen underneath someone, they’re not going to help you grow an empire.
- Invest in training that will help you succeed.
Andy Peters is a successful real estate agent, entrepreneur, trainer, and coach. Along with his wife Lesley, Andy leads one of the highest producing real estate teams in the country, The Peters Company from Atlanta, Georgia. His team was the first to achieve MREA status amongst the 6-office Rawls Group family of Metro Atlanta in 2013, an achievement they’ve held now every year since, and he’s a Lifetime Member of the Atlanta Board of REALTORS® Multi-Million Dollar Club.
Andy is a MAPS coach specializing in team building, and he’s a member of Gary Keller’s private Top Agent Mastermind Group. In 2018 The Peters Company completed over 305 transactions for $121 million in sales volume. He is also an Operating Partner for three Keller Williams Realty market centers in north central Atlanta. In his free time Andy enjoys collecting and playing guitars, and he is passionate about his hometown Atlanta Braves, Falcons, and Hawks. He lives in Brookhaven, GA with his wife Lesley and his two children