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Goals to Actions: Living Your 36:12:3 Dream
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Chapter: Goals to Actions: Living Your 36:12:3 Dream
Introduction: Reaching Database Mastery’s Pinnacle
Welcome to the culminating chapter of “Database Mastery: Generate Leads & Grow Your Business.” Throughout this course, you’ve acquired the tools and knowledge to build a powerful database, generate targeted leads, and convert them into loyal customers. Now, we will learn how to translate these strategies into a tangible❓ plan for success, embodied in the “36:12:3 Dream.” This dream is a metaphor for achieving significant business growth through consistent and focused lead generation❓ and conversion strategies. This chapter provides the scientific framework for turning your goals into a reality, emphasizing measurable actions and consistent tracking.
It’s about converting leads to listing agreements and buyer representation agreements.
1. Understanding the 36:12:3 Dream: A Scientific Breakdown
The “36:12:3 Dream” represents a powerful ambition and a defined target. Let’s break down the components:
- 36 Transactions: This represents a target of closing 36 real estate transactions within a year.
- 12 Months: The timeframe in which to achieve the 36 transactions. This represents a monthly cadence and is a variable in a complex mathematical model.
- 3 Hours: Dedication to consistent daily lead generation❓❓ of 3 work hours to find buyers and sellers and get agreements.
This is a simplified expression. To reach this level, several scientific principles and real estate factors need to be considered.
1.1 The Law of Large Numbers and Lead Generation
The Law of Large Numbers states that as the number of trials in an experiment increases, the average of the results will converge towards the expected value. In the context of lead generation, this means:
- More Contacts, More Leads: Consistently reaching out to a large pool of potential clients improves the likelihood of generating qualified leads.
- Predictable Conversion: By tracking lead conversion rates over a significant number of trials (contacts), we can establish predictable patterns and forecast future performance.
This can be mathematically expressed as:
E(X̄) = μ- Where:
E(X̄)= Expected average conversion rateμ= Theoretical true conversion rate
- Where:
1.2 Conversion Rate Optimization (CRO)
The success of the 36:12:3 Dream hinges on optimizing the conversion rate at each stage of the lead generation and sales process. Relevant stages include:
- Inquiry to Lead: Turning initial inquiries into qualified leads.
- Lead to Appointment: Converting leads into scheduled consultations.
- Appointment to Contract: Securing representation agreements with buyers or sellers.
- Contract to Close: Successfully closing the deal.
Each stage is an independent variable in the entire process. Let ‘s represent conversion as Cv, and the stages with subscripts 1, 2, 3, and 4. So, we get:
Total conversion, CvTotal = Cv1 * Cv2 * Cv3 * Cv4
This formula underscores that even small improvements in each conversion stage can have a significant multiplicative effect on the overall success rate. This is further increased by the Economic Model.
1.3 Economic Model Applied
Keller’s Economic Model dictates actions necessary for target revenue based on transaction conversion and volume. The economic model applied to conversion in the real estate example is:
Income = Transactions * AvgCommission * Cv1 * Cv2 * Cv3 * Cv4
By determining target income, agents can calculate the conversion value each stage needs to reach.
2. Psychology of Goal Setting and Action
Transforming your 36:12:3 Dream into reality requires a strong understanding of the psychological principles underpinning goal setting and action.
2.1 Goal-Setting Theory
Edwin Locke’s Goal-Setting Theory posits that specific and challenging goals, coupled with appropriate feedback, lead to higher performance.
- Specificity: The 36:12:3 Dream provides a clear, specific target, which focuses efforts and improves motivation.
- Challenge: The goal should be challenging enough to stretch capabilities but achievable to avoid discouragement. Adjust these numbers based on your local market.
- Feedback: Regular tracking of leads, appointments, and conversion rates provides feedback essential for continuous improvement. This is measurable using the previous CRO mathematical example.
2.2 Self-Efficacy Theory
Albert Bandura’s Self-Efficacy Theory suggests that an individual’s belief in their ability to succeed directly influences their motivation and persistence.
- Building Confidence: Achieving small, incremental milestones along the way helps to build self-efficacy.
- Overcoming Obstacles: A strong sense of self-efficacy empowers individuals to persist through challenges and setbacks.
Practical Applications
- Visualize Success: Regularly visualizing the successful attainment of the 36:12:3 Dream reinforces a positive mindset and boosts self-efficacy.
- Celebrate Milestones: Acknowledge and celebrate each milestone achieved along the way to reinforce positive behaviors and maintain motivation.
2.3 The Power of Habit Formation
Charles Duhigg’s “The Power of Habit” emphasizes the importance of establishing routines and habits to achieve long-term goals.
- Cue, Routine, Reward: Structure your workday around a specific cue (e.g., starting with 3 hours of lead generation), a routine (e.g., prospecting calls, email follow-ups), and a reward (e.g., celebrating a successful appointment).
- Consistency: Consistently adhering to the routine over time transforms it into an automatic habit, making it easier to maintain momentum.
3. Practical Implementation: From Goals to Concrete Actions
Now, let’s translate theory into action with concrete steps for achieving the 36:12:3 Dream.
3.1 Actionable Steps from Keller-Williams Materials
From the given documentation, we can formulate that:
- Get an Appointment: An appointment is the worst you can do. If you are following up with no appointment, it is not an efficient tactic.
- Follow Up: Ten sellers and ten buyers are a recommended number to follow up with to be time-efficient.
- Seek Agreements: Asking questions to seek agreement from the other party builds to the larger negotiation for an agreement.
- Quick Response: A prospective client will choose agents who are responsive to their needs.
- Lead with Revenue: Agents need to have the money before they spend it.
3.2 Strategic Time Allocation
- 3-Hour Lead Generation Block: Schedule 3 hours of uninterrupted time each workday specifically for lead generation activities. Block out time to replace skipped actions and time.
- Prioritize Prospecting: Dedicate a significant portion of your lead generation time to prospecting activities (e.g., cold calling, networking, direct mail) as these tend to be more effective than passive marketing.
- Time Blocking: Schedule your actions on a flexible draft. Then, add these activities to a calendaring system. This is also how you plan for focus!
Time on the task beats talent every time. And you are making sure you put in the right amount of time on the right task.
3.3 Database Optimization and Segmentation
- Consistent Input: Regularly add new contacts to your database (Mets and Haven’t Mets) to expand your potential lead pool.
- Targeted Marketing: Segment your database based on demographic data, buying preferences, and stage of the sales cycle to deliver targeted marketing messages that resonate with each segment.
3.4 Performance Tracking and Measurement
- Key Performance Indicators (KPIs): Identify the critical KPIs (e.g., number of leads generated, appointment conversion rate, average deal size) that directly influence your progress towards the 36:12:3 Dream.
- Regular Monitoring: Track your KPIs on a daily, weekly, and monthly basis to identify trends, pinpoint areas for improvement, and make data-driven decisions.
*Daily tracking allows you to track daily or weekly goals. Without this, it is difficult to correct or change any problems. - Reporting Tools: Utilize CRM software, spreadsheets, or other reporting tools to automate data collection and generate insightful reports.
4. Psychological Experiments
To understand behavior, psychology uses experiments. Let’s look at some thought experiments that can be done in the real world:
A/B Testing Ad copy
A/B testing is the act of making changes on advertising and tracking which ones perform the best. This allows for optimized lead-generation tactics.
Changing Conversion
What small action can you change in appointment taking to see an increased number of agreements made? Track the activity each appointment to determine what is the key.
How many contacts are needed?
Determine how many actions need to be done to get agreements signed. Track this value every week to understand the number of contacts necessary.
What lead generation process has to be improved? This is important data that determines key values.
5. Overcoming Challenges and Maintaining Momentum
The path to achieving the 36:12:3 Dream is not without its challenges. It’s essential to anticipate potential obstacles and develop strategies for overcoming them.
5.1 Addressing Setbacks and Maintaining Motivation
- Reframe Challenges: View setbacks as opportunities for learning and growth, rather than as reasons for discouragement.
- Seek Support: Lean on your mentor, accountability❓ partner, or support network to navigate challenges and maintain a positive mindset.
- Remember the goal-setting activity. If things are not going your way, take action and get back on track!
5.2 Avoiding Burnout and Maintaining Work-Life Balance
- Prioritize Self-Care: Schedule regular breaks, exercise, and other self-care activities to prevent burnout and maintain a sustainable pace.
- Delegate Tasks: Outsource or delegate non-essential tasks to free up time and focus on core lead generation and sales activities.
- Look back to your Big Why and commit to it! Don’t just hope that it happens; plan for it.
6. Conclusion: Embracing the 36:12:3 Dream and Achieving Mastery
The 36:12:3 Dream is more than just a numerical target; it’s a mindset, a commitment to consistent action, and a journey of continuous improvement. By embracing the scientific principles outlined in this chapter and implementing the practical strategies discussed, you can transform your database mastery into tangible results and achieve the level of success you desire. This is for agents to be at their highest potential!
Chapter Summary
Here’s a detailed scientific summary of the chapter “Goals to Actions: Living Your 36:12:3 Dream” from the “Database Mastery: Generate Leads & Grow Your Business” training course, based on the provided PDF content:
Scientific Summary: “Goals to Actions: Living Your 36:12:3 Dream”
Core Focus: The chapter emphasizes the critical link between setting goals (achieving 36 transactions❓ annually) and translating❓ those goals into concrete, measurable actions to drive lead generation and conversion❓. The underlying scientific principle is the application of modeling and systematic planning to optimize business outcomes, echoing principles of behavioral economics and management science.
Key Scientific Points and Models:
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Economic Modeling: The chapter presents an “Economic Model” that serves as a deterministic model for revenue generation. It breaks down the relationship between the target income, average sales price, commission rates, appointment setting, and lead conversion rates. This aligns with systems thinking, demonstrating how modifying inputs (e.g., improving conversion rates, increasing the number of leads, increasing GCI per sale) directly affects the desired output (target income).
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Lead Generation Model: The Lead Generation Model focuses on the input (number of leads needed) and output (number of Mets and Haven’t Mets), emphasizing prospecting-based lead generation enhanced with strategic marketing for a cost-effective approach. It references conversion rates (12:2 for Mets and 50:1 for Haven’t Mets) and incorporates the principles of database marketing and customer relationship management (CRM). The model highlights the importance of regular “touches” (marketing action plans, 8x8/33 Touch) with leads to nurture relationships and move them through the sales funnel. This aligns with marketing principles around frequency, reach, and customer lifetime❓ value.
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Budget Model: The Budget Model applies principles of financial management and cost control. It suggests a “lead with revenue” approach and emphasizes strategic allocation of resources across costs of sale and operating expenses. It uses a simple 30-30-40 model as a guide, implying data-driven budget allocation and monitoring to optimize profitability. It implicitly acknowledges the importance of tracking ROI (Return on Investment) for lead generation and marketing activities.
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Organizational Model: This model addresses the importance of leverage through people and systems. It highlights the transition from solo agent to team and emphasizes strategic hiring practices to maximize efficiency and scalability. It focuses on optimizing the agent’s role through delegation and specialization.
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Goal Setting and Action Planning (4-1-1): The chapter translates high-level goals into actionable steps by emphasizing the use of a 4-1-1 action plan. This structured approach supports the process of SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals, breaking them down into manageable weekly tasks and aligning with project management principles.
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Time Blocking (The 3-Hour Habit): Time blocking is presented as a key strategy for ensuring consistent action. Allocating 3 hours daily for lead generation, emphasizing the importance of focused, uninterrupted time, reflects an understanding of time management principles, task prioritization, and habit formation.
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Measurement and Accountability: The chapter stresses the importance of tracking key performance indicators (KPIs). This includes tracking the number of contacts, marketing action plans applied, appointments made, contracts secured, deals closed, sources of business, expenditures, and return on investment. This aligns with the principles of data-driven decision-making, where continuous monitoring enables agile adjustments to strategies. The chapter explicitly mentions the importance of finding an accountability partner.
Conclusions and Implications:
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Systematic Lead Generation is Key: Consistently applying systematic lead generation practices is crucial for achieving ambitious transaction goals. The chapter offers a structured approach to maximize lead generation and manage customer relationships, and reinforces that successful lead generation should be prospecting-based and marketing-enhanced.
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Accountability Drives Results: Accountability, both to oneself (through tracking) and to a partner (through regular meetings), is presented as a critical element for staying on track and achieving goals.
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Efficient Time Management: Optimizing time allocation, especially through “time blocking,” is essential for maximizing productivity and effectiveness. It is crucial that agents set play time and pay time, as well as scheduling time.
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Data-Driven Decision Making: Effective tracking and analysis of key performance indicators are crucial for making informed decisions about lead generation strategies, resource allocation, and team development.
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Shift from Job to Business: The overall implication is a transition from viewing real estate as a job to running a sustainable, scalable business guided by models, metrics, and strategic planning.
In summary, the chapter “Goals to Actions: Living Your 36:12:3 Dream” provides a structured, scientifically informed framework for real estate professionals to achieve ambitious sales goals by applying principles from behavioral economics, management science, and data-driven decision-making.
