05 Sep Getting growth
Rik Rushton gives us a simple indicator that will have you on a growth path
Topic – Rik’s Fast Five
Mentor – Rik Rushton
- Can you do this to get growth?
- Rik’s No 1 growth activity
- Take the time to build the activity
Developing your leadership style – Jacob Aldridge
What do you need in startup and more importantly WHO do you need?
Kevin: The only way to get growth is to constantly know what you need to improve, and then you’ve got to actually work at improving it. What are the things in your opinion that we should be focused on? You can call them KPIs. You can call them whatever you like. But what are the things we should be focused on to improve to get that growth? Rik Rushton joins me to talk about that today.
Rik: Nothing happens in our business unless we get connected with people. So the number one KPI isn’t so much how many calls we’re making, or how many letter boxes we’re hitting, or how many drop cards we’re doing, or how many emails we’re sending. It’s how many opportunities did we get to connect with somebody, not always face to face, belly to belly. We’re connecting at the moment, and you’re in two states ahead of me. But we’re connecting. The ability to have a Skype conversation, or an internet connection or whatever.
Rik: The number one KPI for me is, if you can connect with 20 people a day, that’s 100 people a week. That’s 400 people a month. Will four of those lead to transactions? It’s normally the number that’s worked for me for almost three decades. Four transactions a month means one a week. If you’re averaging that out over 10 months in the year, you’ve got to say to yourself, that’s 40 transactions. In most marketplaces that would have you, if not leading your market, somewhere near it. So I think it’s all about, the number one KPI for me is, I need to connect with 20 people today. It’s not always soul to soul, belly to belly. Sometimes it’s in a hand written note. “Hey Kevin. Just heard you went through a bit of a challenge. Just wanted to let you know I’m thinking of you. Thought you’d like to get something in the post today that wasn’t a bill. Have a great day.”
Rik: That connection there on face value doesn’t look like it’s going to lead to much. People forget, often, what you tell them and what you maybe even showed them, but they never forget how you made them feel. If you’ve made them feel really good in a really challenging time, that goes into their emotional deposit into their bank account. They’re happy to do a withdrawal back to you a year from now, six months from now, maybe even six days from now, when their circumstances change. Or they hear of somebody who’s thinking about making a move. They say, “Oh, before you do anything you’ve got to go speak to this guy here. Funny enough, I just connected with him”. That could lead to a referral for all we know.
Rik: I think the number one KPI for me is, 20 connects a day, five days a week. That’s 100 connects a week, 400 a month. If you do that, and you think about that for a minute, it’s not that hard to be thinking about what you’re going to be doing there in many respects. I don’t think anyway.
Kevin: It is quite possible to actually have too many KPIs, isn’t it? None of them are really focused on or monitored properly. That’s a very clear definition. If we all did that, if we all focused on talking to 20 people a day, or making that connection with 20 people a day, ask yourself now, how would your business be? It would be in a lot better shape than it is now, for sure.
Rik: You and I both know the answer is, we’re gonna be growing through that.
Rik: Your point, it’s probably the most valid point in this conversation thus far is, we can have too many KPIs. You could tick off multiple KPIs, go home, and not feel like you’ve achieved anything. That’s not a great recipe to get you up early the next day and get you going. I look at it as, today I’m going to find 20 people to connect with. What an exciting day this is for me.
Rik: The first thing we all should do is get up, get straight to our local papers, whether that be the courier mail, whether that be the Herald Sun here in Melbourne, or the Telegraph or wherever. Just turn straight to the death notices. We’d learn two things there, Kevin. Number one, everyone seems to die in alphabetical order. That’s the first thing we’d see. Number two, all of them would gladly change places with us to have one day of just having conversations with 19 other people.
Rik: Is that too difficult to do? I don’t think so. If you have that conversation, people say to me, “What do I say in that conversation?” I go, “If you dialled the number, or if you connect with a person, you’ll know what to say. It’s not in knowing what to do. It’s actually doing what you know. It’s not about, “I can’t make that connection because I won’t know what to say”. When Kevin says to me, “The market’s come back”. You’ll know what to say. You’ll just say, “Well, that’s true, but when the tide of the market goes out, Kevin, it takes all the houseboats with it. So the good news is, whilst you won’t get as much for your home today, you’re not paying as much for the one you want to upscale to. The changeover has come back dramatically. The market’s come back 5% on our $700,000 home, guess what? It’s come back 5% on the $1.2m that you wanted to try and buy. Do the math. You’re actually ahead now in this market. Isn’t that exciting?”
Rik: You could have that conversation. But it all starts, stops and ends with your connection to Kevin in any shape or form.