Setting Audacious Goals-with Ruth Krishnan-EP96

During this episode of the Lab Coat Agents Podcast, host Jeff Pfitzer speaks with Ruth Krishnan, one of the top 10 agents in the San Francisco market, and one of the top 65 agents in the country. Oh yeah, and she started as an agent during the financial crisis of 2008! Listen to hear Ruth explain why you shouldn’t be afraid of setting large, audacious goals and why you should revisit them throughout the year. Episode Highlights:  Even though Ruth is one of the top agents in the country, she still enjoys learning from other agents. In today’s episode, there is no specific agenda other than for Ruth to share the information in her head. Growing up as 1 of 9 kids in a small town in Missouri, Ruth was motivated to attain a better life. Ruth decided to get into real estate in 2008, a time when everyone was trying to get out of the business. Starting as a single agent, Ruth was pretty much left to learn everything by herself and the first 2 years were incredibly challenging. There were hard times that left Ruth with no money at the end of the year despite working 60-hour weeks. Starting as a real estate agent during the pandemic is not all that different from starting during an economic crash. It’s important to formulate a business plan at the beginning of the year and revisit it often throughout the year. Don’t be afraid to think big; you might not reach your goal but you will get farther if you aim farther. Ruth has allowed the fear of failure to force her into thinking too small, usually landing exactly on the number that she plans on. Setting an audacious goal is daunting, but not hitting that audacious goal is not the same as failure. Our brains have a way of finding a way to do what we previously thought was impossible. People think that they are not wired to hit these crazy-high numbers, but there are ways to trip those wires. Ruth has set up accountability partners in every area of her life to make sure that she crushes her goals. At the beginning of her career, Ruth made an effort to connect with agents in her realm to add value to each other. It’s important to Ruth to always be the dumbest person in the room so that she is constantly learning from others. Groups of like-minded professionals in your market are great places to both gain and give value. When partaking in a group, it’s important to surround yourself with collaborative people who all have something to offer. It’s natural to be intimidated by agents that are always winning awards, but get closer to their level and they will view you as their peer. Many agents make the mistake of getting stuck in their own brokerage, not branching out to collaborate with other agents. Successful people aren’t afraid to share their knowledge because they know that for the most part, no one is going to act on that knowledge. After a crazy year, many agents find themselves either trying to maintain momentum or dig themselves out of a hole. With San Francisco on the verge of another shutdown and many people moving away from the city, the future of that market is uncertain. 70% of Ruth’s team’s business has come from online appointments while the other sources of her business have gone down. Investments in content and her own website for the last 10 years helped Ruth smooth over the transition to online this past year. Moving forward, Ruth is focused on investing money in her areas of weakness. It’s always going to be scary reinvesting in the business, so try to take it month by month and crush those numbers. Your reasons for reinvesting in your business are unique to you and don’t have to be the same as big agents. 3 Key Points: Like many agents, Ruth stumbled into real estate, looking for a fresh start after her interior design agency fell apart when she was 5 months pregnant. Set goals that seem almost unachievable, because regardless of whether you hit that goal or not, you will crush your previous year’s numbers. It’s vital to your growth as an entrepreneur to surround yourself with people that are doing better than you. This way, you are always learning. Resources Mentioned: Lab Coat Agents (website), (Facebook), (Facebook Group), (Twitter), (Instagram) Ruth Krishnan (Website, Instagram, Facebook) RedX (sponsor) StreetText (sponsor)