This article was written for brokers. by SPEEK CEO & Founder, Will Hedrick. SPEEK is the parent company to brokers. and is a real estate brokerage/startup in Charlotte. Learn more & connect with Will here. Learn more about SPEEK here.
With starting anything there are plenty of questions that you just have to accept that you may not know the answer to. Here are 5 things that I wish I knew before Starting SPEEK
. There is no such thing as right or wrong decisions. - Any decision is just a list of pros and cons. Robbing a bank has one pro and a list of cons that follow. Hopefully, you can decipher that robbing a bank is not the wisest decision. However, one of the hardest things to decide when starting a business is where the money should go. When starting SPEEK, there was plenty of decision on our budget as to what we would put our money towards and what we would not. All of those items came down to a pros and cons list, now that we have cash flow, we have returned to those backburner items and can push them forward. Our website and branding were done by yours truly (hopefully you can’t tell) because web developers are very, very, expensive. We wanted to put our money into other avenues and start creating positive cash flow. Having the best website in the world was not one of the top priorities- thanks Zillow. There is a time to just say f*ck it. - It should be calculated, but at some point, you have to bite the bullet. Meticulous planning is only going to push your dreams and progress further and further away. You can pack your parachute 1,000 times, but at some point, you are going to have to jump out of the plane and see if you did it right. Luckily in real estate, we are not skydiving. Our consequences are luckily just losing deals and having some headaches pop up. Sometimes you just have to put your planning aside and see if it is going to work out. Fortunately, we have an opportunity to learn from our mistakes and grow from them. So, the next time that you find yourself planning for longer than you should, ask yourself if it is time to just say the magic words. Brand & Message > Oxygen - Branding is not just your logo and brand kit, it is what you represent. You have to have your guidelines very clear before you go into any realm of business. This is going to set the tone for who you are and what you do. Once you have your branding in mind, your message can follow. Represent who you are and what you do with faithful courage. Comparison Kills - No matter if you copied a company exactly, you are going to still have plenty of differences between yourself and the competitor. Comparing your company’s growth and journey to another is the easiest way to ruin your enjoyment as an entrepreneur. Not only are the company’s going to have different growths, but they are also going to have different funding. Those with access to millions are going to be running at a different pace, let them run. Relationships are the Priority - Word of mouth is the most sincere (and cheapest) way to scale. No marketing campaign or tactic can replace one person speaking positively to another about your company. Take the time to construct relationships and strengthen the ones you already have. Genuine relationships will make your company stand out from the rest and leave you with constant walking & talking billboards behind you. Build it into your brand and message, but people and their experiences first.
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