Blog / Winning Business
Everything costs Something, Mat Steinwede
Maintaining the peak performance needed to stay at the top of the real estate game means there is a price that has to be paid. Everyone can put a value on what they are willing to pay to get to where they want to be, including Mat Steinwede.
When discussing this topic as part of the Mat Steinwede System audio program, Mat asked his listeners “what price are you willing to pay?” In helping to answer this question he uses his “burning the boats” analogy.
Commit or Die
In the story based on the 1519 Spanish conquest over the Aztecs, an army is readying to fight a battle and as they approach the beach where they will do battle they see their enemy. They are outnumbered by five to one. A soldier asks the General, “What will we do?” and the General responds by saying,” It’s ok, I have a strategy.”
Upon landing on the shore the General gave his instructions: “Burn the boats! We have to win if we want to live and see our families and children again. There is no turning back.”
It was conquer or die. The soldiers bought into the General’s strategy because he had removed the object of failure. Now they had no fall back position. Burning their boats raised the army’s level of commitment because failure just wasn’t an option. They won the war, used the enemy’s boats and returned home victorious. Many real estate agents think they can return to the career they had before joining the industry, whether that is lawn mowing, plumbing or cooking, but to really commit to the industry and be the best you can be it has to be all or nothing.
Don't Look Backwards
“I’ve had people in my office that go through ups and downs, like we all do, and they are affected by what’s going on. I used the ‘burn the boats’ analogy and said, ‘Team, we’re going to burn our boats. We’re going to move forward and we’re going to win this thing,’ Mat explained. Instinctively we want to return to our fall back position when the going gets tough, but once that option is removed you are forced to focus on what needs to be done to make you successful.
“Before, I just did what it took and I would have paid anything to get to where I wanted to go, but it’s funny how your perception changes on this. Your core values and your perception changes,” Mat added. He said he won’t compromise on quality anymore and is committed to doing what it takes to provide good service to his clients. Mat has set his price. This revelation came about after dealing with too much volume in his business resulting in “a lot of bumps along the way”. “I won’t compromise on quality. That’s going to be part of my success in the future. The price I’m willing to pay for that will be pretty much anything that it takes,” Mat said.
Assess your priorities
When looking at his priorities and his goals in life, Mat decided there were some things he couldn’t afford not to do, such as reassessing his business to ensure success and what he could do to benefit his family.
“You have to ask yourself, ‘Am I prepared to drop letters off at six o’clock in the morning? Am I prepared to do a little bit more than everybody else? Am I prepared to work 12 hours a day for the next two or three years to build that momentum?’ “The space shuttle takes 90 per cent of its fuel to get through the atmosphere, but when it’s up there it’s easy. It costs billions of dollars to get the space shuttle up for one space journey. What if NASA said, ‘Look, we don’t really want to pay that.’ Imagine where we’d be today,” Mat pondered.
So, ask yourself what you are willing to pay to reach your real estate goals. And once you decide your price, stick to it. Paying that price can mean dealing with jealousy or resentment from colleagues, but if the goal is important to you, then that is what you need to focus on.
“It’s funny; if you stand in a room and say, ‘Who wants to be successful?’ everyone will put up their hands. It all sounds good in the beginning, but success comes at a cost,” Mat said. In explaining that cost, Mat said he realised the cost had to be managed with a process as well. The cost and management process are combined and once that is done, it is easy to track where you are headed.
“That is a true professional; that’s somebody that is managing their success - not only paying the price for it, but managing it as well,” he added, but advised there was no point continually reflecting on the cost. Success comes from moving forward. “Success comes at a cost. Just work out what your level of success is, strive for that, get good people around you and if you communicate with those people, you will minimise the cost. Just be prepared - it does take something to get somewhere,” Mat concluded.
Mat Steinwede The Real Estate System includes Mat’s tried and tested strategies with letter and report templates, the order tasks should be completed and tips on achieving peak performance.
For more information on Mat Steinwede The Real Estate System visit: www.realestateacademy.com.au or call 1300 367 412.
← Go back
