Discover valuable insights and tools to evaluate key areas for success.
According to the Socratic method, self-improvement consists of three key elements: self-awareness, self-acceptance, and self-regulation. In the realm of business coaching and improvement, the first step always involves self-awareness or, in this case, business awareness. Today, I’d like to share a valuable tool that can help you assess your business—a tool I’ve used with clients in the past. Let’s dive right in.
This assessment covers six essential areas. First is leadership. To achieve the success you desire, you must have a clear direction for your business. I often refer to this as “Big A and Little Agenda.” Your Big A represents the long-term destination or goal, while the Little Agenda focuses on the daily tasks that move you forward. Assess yourself on a scale of zero to ten to determine the clarity of your leadership direction.
The second aspect is your product or service delivery. In the context of real estate, this means evaluating how well you deliver brokerage services. Whether you’re a property manager, investor, listing specialist, buyer specialist, or brokerage handling both sides, assess the effectiveness of your service in solving client problems.
“The first step always involves self-awareness or, in this case, business awareness.”
Next, we move to sales. This involves consistent lead generation and follow-up activities, which are crucial on a daily basis. Consider your business’s performance in terms of lead generation and follow-up, and rate yourself accordingly.
Marketing, the next area, encompasses various strategies and tools that support your service delivery and sales efforts. It is about creating an automated and cohesive message and experience for your clients. Evaluate the effectiveness of your marketing initiatives.
Operations, or leverage, focuses on the efficiency of your systems, processes, tools, and personnel in supporting other areas of your business. Assess how well these components are functioning to drive overall performance.
Lastly, cash flow plays a critical role in business success. It is essential to have a clear understanding of your revenue, operating expenses, profitability, and compensation structure. Evaluate your cash flow management.
When assessing your business, remember that change takes time. Focus on one or two areas at a time and work towards improvement. What makes this process engaging is that it is an individual decision, driven by the awareness that something needs to change. By utilizing this tool and working with a coach, you can easily identify the areas that require attention and determine your next steps.
Download The “Business Systems Wheel of Life” PDF for free by clicking this ➡️ link. ⬅️
If you have any questions about this Socratic approach to coaching or would like further assistance, please feel free to contact me via phone or email. I’m here to support you on your journey to business improvement.
