One of the most popular series on Netflix is Million Dollar Listing Los Angeles. It follows a team of successful real estate agents who sell some of the most expensive properties in the city. The team featured in the series was started by James Harris and David Parnes. However, the team grew immensely to the successful team it is today. I came across an article written by Harris on the Entrepreneur website that discusses how companies can build a successful team.
STAFF UP
David and I started out with just the two of us. As soon as we had a few sales under our belts and started building our listing inventory, we hired an assistant to help us with marketing and scheduling, so we had more time to oversee showings and networking. As we got busier, one assistant grew to two assistants. With our increased media exposure, we saw our business really take off and realized that in order to manage the incredible number of leads that were coming our way, we needed to effectively manage our growing listing inventory, and oversee our escrows. We needed someone with experience who could fully manage our team. We hired the right person, and she has become the backbone of our business. She is able to manage operations so that we can focus our energies on obtaining listings, handling showings, networking and marketing.
We also decided to keep our immediate team small and focused. There are only four of us, and we are in constant communication on everything — we copy each other on all emails and texts. We operate like a well-oiled machine. We each have our strengths and instinctively know what we need to do. Our motto is “divide and conquer.” It is also important to incentivize and reward people; when we close a deal, everyone gets paid.
“Once you find the right freelancers to do the job, continue to collaborate closely with them because they are important team members.”
Our strategy for building a team applies to anyone from a tech start-up to a small ecommerce business. It is important to find team members that can focus on different segments of the business, administration, business development, sales and customer service. Administrative staff can help executives at tech start-ups stay organized and prioritize to-do lists. Customer service associates for ecommerce businesses are imperative for ensuring customer satisfaction. Business development and sales associates can focus on helping you grow your business while you are focused on your next innovation. Building the right team, and delegating responsibilities to them, will help your business thrive.
FIND THE RIGHT FREELANCERS OR CONTRACTORS
In addition to your internal team, you will want to find a talented team of freelancers and contractors. We have an amazing internal creative agency, The Agency Creates, with a staff of graphic designers, and branding experts for our collateral needs. That said, most start-ups and small businesses do not have the luxury of having an internal creative agency to help develop marketing and advertising materials. There are many freelance graphic designers that you can find that do incredible work. Research online to view portfolios and interview with several freelancers to ensure that they can work within your deadlines. Start with one small job and if all goes well, continue to collaborate with the same person. You can find freelancers in almost any area to service your needs. Once you find the right freelancers to do the job, continue to collaborate closely with them because they are important team members.
COLLABORATE LOCALLY
The real estate firm that we are partnered with, The Agency, prides itself on collaboration, and we always welcome agents to co-list with us. Our media presence allows us to provide extra exposure for our co-listing partners and we are always open to collaborations. Likewise, we also co-list with other agents at the firm.
There have been occasions where we have had an opportunity in a certain area that may be covered by another agent, and we will bring that agent in with us. It works both ways. Find partners that you can collaborate with for mutually beneficial relationships. We have found that being inclusive to collaborators helps us build our business because it opens the door to opportunities that we may not have otherwise been considered for.
COLLABORATE GLOBALLY
We receive many inquiries from clients and agents all over the world from our exposure on Million Dollar Listing Los Angeles. We also have relationships with many international agents and brokers through our affiliation with Savills. Building an alliance of international agents and brokers allows us to have a thriving referral business. Sometimes we are also involved in marketing international properties to our client base in Los Angeles.
I encourage everyone to build an alliance of team members all over the world so you can offer your clients a global reach, and profit from a wide-reaching referral business. We now live in a global society and every business can benefit from exploring international markets. Research global markets to find where your business might thrive and start networking with people who can help you in those markets. Once you have identified potential collaborators, develop a pitch package that outlines how you can help those contacts in your domestic market. People are more likely to help you in their market if you can return the favour in your market. If you build a team of partners and collaborators in international markets, you can build a global business that takes advantage of global opportunities and extend your reach globally.
