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| Before investing in a new idea, you can significantly increase its chance of success with little or no added cost.
Since good and profitable ideas can come from anywhere establishing a process to get them is the first step. Ask everyone and reward those who help. As a jet engine technician in the Air Force I won significant cash awards by presenting ideas for process improvement because I was asked. Even our government understands that no individual or group has a monopoly on good ideas. Your suppliers, customers and clients may have insights not able to be seen inside your organization. Asking them for worth while suggestions could prove to be very valuable. Tackle one area at a time and develop a clear statement of the objective. For example, “What specific actions could we take to increase the number of qualified prospects?” Make sure that new ideas have no negative side-effects. If you’re aiming to increase the number of new qualified prospects, don’t spend so much money on list, website optimization and telemarketing that you invest all of your commissions and don’t make a profit. Since you’re looking for new ideas in one specific area, for example to “increase the number of new qualified prospects,” limit acceptable ideas to only those capable of…
By being very clear as to what you’re asking for, you’re very likely to get it. In addition to asking everyone a very clear and focused question about an area of improvement, consider bringing together groups for brainstorming. After framing the question either allow a few minutes for silent writing or as IDEO, a consulting firm specializing in innovation does, use verbal “green light” brainstorming with someone recording every idea. Each participant should write or say as many ideas as they can. During brainstorming don’t allow any discussion, questions, or comments. Shoot for 100 ideas and post them exactly as people state them. Next discuss each idea combining or eliminating them. This process will bring you down to a precious few “new idea gems.” Paul Talbot of Talbot Corporate Services, Inc. shares a brain storming technique he calls CREATE.
Beware of the law of unintended consequences and before full implementation be sure to test new ideas and understand that the judge and jury are your clients and prospects. Ideas that will increase the number of new qualified prospects might include getting referrals from current clients. Asking for referrals in the wrong way however, could unintentionally cause existing clients to feel rushed and treated in an impersonal way. Likewise an inbound caller to your Real Estate office who now reaches a human being rather than a complex and frustrating automated answering system might also be unhappy because of the inability of that “live receptionist” to connect them with the right person to care for their needs. Every new idea must be carefully and thoroughly put on trial for its life…before being implemented. |
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| This article is provided by Joe Murtagh, The DreamSpeakerTM, an expert in solving Realtor challenges. For keynotes, consulting and questions or a free report titled The Three Biggest Mistakes Realtors Make, email us at Joe@TheDreamSpeaker.com or call 800-239-0058.
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Realtors Business Journal™ - Change & Innovation