The Hidden Curve That Kills Real Estate Team Profit with Mike Schumm | Ep 071

Before Mike Schumm coached, consulted, and partnered with many of the top teams in the real estate industry, he built 10 small businesses - from meat packing to property management to national cleaning franchise.He brought that experience to real estate concurrent with the release of The Millionaire Real Estate Agent, got blocked while building his team, started coaching top teams within the Tom Ferry organization, and started his own business that allows him to serve team leaders more like a fractional CEO than a coach.The main theme of his work historically: turning your real estate job into a real business.The main theme of his work lately: turning around your unprofitable business.He’s helped people who are selling their investment properties or even their primary residences to keep their real estate business alive. And he shares cautions, tips, and step-by-step advice to help you stay ahead of that pain.Watch or listen to this conversation with Mike for insights into:- Two types of leaders - process-focused and outcome-focused- How the library served Mike years ago as YouTube serves entrepreneurs today- The transition from trying to grow a team in an environment that wasn’t team-friendly to coaching, consulting, and serving team leaders in a high-growth era- Specific tips for any team leader, coach, or mentor to master personality styles and meet people where they are- Four real estate team models with tips and cautions for each- The first place a team leader should look for missing profits- The basic steps of a business turnaround and the two factors that prevent it or slow it down- The difference between hiring a leader and hiring a manager (besides the 2x cost of a leader)- How to determine when you need a sales manager - and when you can afford one (with actual numbers)- Why and how to set standards that eliminate low-producing agents who are costing you money (with actual numbers and examples)- A specific caution to protect team culture and maintain productivityAt the end, learn about loyal fandom, a critical coach, a Miami Blue Porsche, and an actor’s or athlete’s cycles.Resources mentioned in this conversation:- DISC+ https://www.innermetrixnorthamerica.com/disc.aspx- Social Styles Handbook  https://global.wilsonlearning.com/resources/the-social-styles-handbook/- Versatile Selling https://global.wilsonlearning.com/resources/versatile-selling/Episodes related to this conversation:- FUBCON Sessions https://www.youtube.com/playlist?list=PLCJiXNo93cVopyNz34nrcV-kVacpWjvAm- Tom Ferry https://www.realestateteamos.com/episode/tom-ferry-differentiation-accountability- Chris VanderValk https://www.realestateteamos.com/episode/inside-whissel-realty-group-agent-leverage-coo-chris-vandervalk- Mark Adams from RealTrends Verified https://www.realestateteamos.com/episode/real-trends-ranking-top-real-estate-teams-mark-adams- Andy Mulholland from Simple Numbers https://www.realestateteamos.com/episode/mastering-real-estate-business-financials-andy-mulhollandConnect with Mike Schumm:- https://www.instagram.com/mikeschumm_/- https://profytz.comFollow Real Estate Team OS:- https://www.realestateteamos.com- https://linktr.ee/realestateteamos- https://www.instagram.com/realestateteamos/