Stay Paid Podcast: Episode Summary Title: How to Work on Your Business, Not Just in Your Business
Release Date: October 28, 2024
Hosts: Luke Acree and Joshua Steich
Guest: Tammy Bonnell, Co-Chair of Exit Realty Corp. International

1. Introduction and Guest Background

The episode kicks off with hosts Luke Acree and Joshua Steich introducing Tammy Bonnell, a distinguished figure in the real estate industry. With over 30 years of experience, Tammy has broken numerous sales records and was recognized by Stefan Swanpole as one of the "100 Most Influential Women in Real Estate." Her extensive background sets the stage for a deep dive into effective business strategies for real estate professionals.

2. The Art and Science of Sales

Tammy emphasizes the delicate balance between the science and art of sales. She explains, "Everybody loves to buy, but they don't like being sold" (01:49). This highlights the importance of adding value and personalizing interactions without crossing into intrusive territory. Utilizing tools like Google, Facebook, and LinkedIn, Tammy advocates for understanding clients' dreams and tailoring the sales approach to meet their unique needs.

3. The Importance of Action: Monthly Action Plans

A pivotal part of Tammy's success is her commitment to action over mere knowledge. She shares, "Action is more important than anything else" (04:00). Tammy recommends dedicating four hours each month to work on the business rather than in it. This structured time is used for strategic planning, marketing evaluation, and personal development, ensuring continuous growth and efficiency.

4. Building and Maintaining Strategic Relationships: The Dirty Dozen

Tammy introduces the concept of the "dirty dozen," a select group of industry partners essential for business success. She states, "Find a dozen people that work on the business, not in it" (08:30). These partners include appraisers, home inspectors, mortgage companies, and insurance agents. Regularly engaging with this group allows Tammy to stay ahead of market shifts and provide valuable insights to her clients.

5. Maintaining Consistency and Follow Through

Consistency is a recurring theme in Tammy's approach. She advises, "Write everything down so that the next time you're looking at it, you know what your next course of action is going to be" (07:50). By meticulously tracking interactions and follow-ups, Tammy ensures that no opportunity slips through the cracks, fostering long-term relationships and trust with clients and partners alike.

6. Balancing Personal Life and Business

Tammy illustrates her ability to balance a bustling personal life with her professional responsibilities. She shares a heartfelt example: "I brought them all these framed pictures with a description of what I saw was so special about each individual family" (11:30). This personal touch not only strengthens her family bonds but also serves as a testament to her philosophy of making others feel valued, a principle she applies seamlessly in her business dealings.

7. Distraction Management and Personal Discipline

Addressing the common challenge of distractions, Tammy advocates for strict personal discipline. She mentions, "I don't bring my phone into my bedroom" (22:30), highlighting her commitment to maintaining focus. By segregating personal and professional spaces and utilizing tools like handwritten planners, Tammy minimizes distractions and maximizes productivity.

8. Industry Trends and Future Outlook in Real Estate

Tammy provides a forward-looking perspective on the real estate industry. She discusses the potential for more uniform regulations across states, which could enhance professionalism and ease of referrals nationwide. Additionally, Tammy identifies emerging opportunities in areas like real estate investment groups, international business, and senior housing solutions, advising agents to stay informed and adaptable to leverage these trends effectively.

9. Values-Based Leadership and Business Philosophy

Central to Tammy's leadership style is her commitment to values-based principles. She asserts, "The whole entire organization was built on human potential" (32:27). By focusing on transformational leadership and aligning business philosophies, Tammy ensures that her organization not only thrives but also cultivates a positive and ethical work environment.

10. Key Takeaways and Action Items for Listeners

The episode concludes with actionable insights for listeners:

• Monthly Action Plans: Allocate dedicated time each month to strategize and plan for business growth.
• Engage the Dirty Dozen: Foster and maintain relationships with key industry partners to stay ahead of market changes.
• Consistency and Follow Through: Meticulously track interactions and follow-ups to build trust and long-term relationships.
• Minimize Distractions: Implement personal discipline strategies to maintain focus and productivity.
• Stay Informed on Industry Trends: Continuously educate yourself on emerging trends to capitalize on new opportunities.
• Values-Based Leadership: Lead with integrity and align your business practices with core values to ensure sustainable success.

Luke Acree reinforces these points, encouraging listeners to adopt Tammy's disciplined and intentional approach for lasting success: "The difference between a top producer and mediocre producer is that top producers take action" (34:00).

Connect with Tammy Bonnell:

• Name: Tammy Bonnell
• Contact: Text "T A M I" to 85377 to receive her mobile business card.

Stay Paid Podcast Engagement:

• Website: staypaidpodcast.com
• Reviews: Leave a five-star review on Apple Podcasts or Spotify and share your thoughts to be featured on the show.
• Social Media: Connect on Instagram @staypaidpodcast
• Contact: Email us@podcastremindermedia.com

This episode serves as a masterclass in strategic planning, relationship management, and disciplined action, providing listeners with the tools and inspiration to elevate their businesses and achieve a life of freedom.

Timestamps:

• 01:49: The balance between science and art in sales.
• 04:00: Importance of monthly action plans.
• 07:50: Tracking interactions and follow-ups.
• 08:30: Introduction to the "dirty dozen."
• 11:30: Personal anecdotes on valuing relationships.
• 22:30: Strategies for minimizing distractions.
• 32:27: Discussion on values-based leadership.
• 34:00: Key takeaways and action items for listeners.