Feeling Left Behind?

As I was driving down the road the other day listening to some commentary on the news channel, I heard an interview with the CEO of a Fortune 500 company talk about the importance of innovation within his industry.  He discussed how the company's strong commitment to innovating and reinventing their product has helped them maintain their #1 ranking in customer service and market share for nearly four decades.


The term innovation derives from the Latin word innovatus, which is the noun form of innovare "to renew or change"


When many of us picture innovation, we think technology or product development.  Some brainiac engineer in the back tweaking and mixing chemicals to produce the next world's greatest idea.

Innovation though is the result of small strides taken daily by each of us and it is just as important in the real estate industry as in any other industry in the country.  To see innovation at work, look at Google.  They give their employees 20% of the work week to engage themselves in whatever project they want to, whether it is within their day-to-day scope of focus or not.  Look at a Realtor® delivering contracts digitally so a purchase offer contract can be executed by a wife on a business trip in Asia and a husband traveling in California.  


So what can you do to innovate and invigorate your business?

• Work "on" your business - So many of us spend our days working "in" our business.  Running around chasing the issues of the day.  It is imperative that you have time to reflect "on" your business.  Take some time, say every 6 months, to take a step back and analyze what is working and what is not working.  This is innovation at work.  Small tweaks here and there in pursuit of success.
• Try a new marketing idea - perhaps you have been mailing a newsletter or calendar to your clients for five years.  Maybe send them a personal note or instead of a monthly newsletter you decide to throw a party and invite all those on the calendar mailing list.
• Send a video email - Video marketing certainly looks as if it is here to stay.  Why not try to send a video response to an email inquiry instead of the same old same old canned response.

The key here is try something different and new.  By now, we should all know Albert Einstein's definition of insanity.  Yet, so often in our business we practice the art daily without ever realizing it.  Constantly expecting different results, while we stick to our old tricks.


Before the end of the year, try something new.  Commit to it and enjoy the results.  Remember, progress is achieved through change.