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Episode #11 How We Make Decisions
What's up, everybody? Welcome to the Fitness Realty Channel. My name is TJ McLelland, and I'm the broker. I'm super excited to share all the things we have planned with you. So sit back, strap in, and let's have some fun!
What's up, all you Beautiful people? This episode is going to be all about how me and my sweet mother make tough decisions in our business. We're super excited about this episode. I've always wanted to kind of talk about what we do as a business entity and how we kind of do an industry-leading kind of scenario. I shouldn't say industry-leading like that.
Most people can make these tough decisions. I'm just going to show you how we kind of do things. So let's take a tough decision on if we are going to keep. One of our Realtors on staff, so we do get a question about this quite frequently, and we've had other business entity or business industry leaders that have kind of asked us about what we're doing to either keep people on board or let people leave or get rid of them.
So I'll tell you right up front, we try to keep everybody on our staff that is willing and able and wanting to learn how to sell real estate. The nice thing is, is the tough decision that we have to make to try to get rid of them if they want to leave is usually made by them themselves. So sometimes, when they self-identify, and they want to get rid of themselves or leave to go to a different company.
They've either seen something that was greener on the other side, and they really want to go to a different place and learn from them, or they really just hate real estate, and they don't want to learn anymore, and they want to just go back to normal life in a normal job. So what's nice is that tough decision I don't really need to make. It's usually them to decide, hey, this isn't for me.
So let's take it on the other side for a tough decision that let's say let's use our marketing costs for instance because our marketing cost is our biggest Benson the business. So the way that we usually tackle this tough decision is both me and my mom have ideas about what we like to see in marketing, and we both have ideas about what is effective in marketing.
So what we try to do is collaborate together. We come together, we talk about it, we brainstorm, we see if those ideas are really what we want, and then we also see if the ideas are going to be the effective ones that will take us to the next level. Something that I always put in is I'm all about trying to speed off and doing something crazy. Let's, like, hit the ground running, blastoff, do things and just get crazy.
However, my mom is on the other side of that very controlled com, internalizes things, learns things, has a deeper perspective, and so she brings a lot to the table. That is very wise decision-making. So I figure we both bring to the table great sides of this coin. Obviously, my mom is a little wiser, I think and making better decisions. So, in my opinion, I typically will throw out ideas like crazy and say, well, what do you want to do and then we just try to do what my mom wants.
So I don't know if that's how a lot of other companies run. I know as we get bigger, we will have more avenues and opportunities to make larger decisions. But I'll probably resort back to how we kind of do things in general and just coming together, collaborating with my mom, thinking about it, talking about it and then typically, I just select what my mom thinks is best because she just makes better decisions, in my opinion.
And then also the other part of that is typically she'll make a controlled, calculated decision where I'm like, well, let's just try it, 100 different things and we'll find what works, but we'll have a ton of errors in between. And then one more caveat that I wanted to add to that is typically we try to surround ourselves with brilliant minds, and so the last part of this is that our company has grown, and we did reorganize into a C corporation at the early part of 2021, and we did bring on several different business partners.
And each one of those business partners has a voting count. And so each person on our new board has a vote or a right to vote for what they think is the direction for the company. And so I really just find ideas, and I present them to the board and then me and my mom are the controlling interest in that, of course currently and so we typically will vote, but the rest of the board members do have an opinion and are they do get to have an opinion on the direction of the company.
And so I really don't have to have the best decision-making skills. I can just bring it to our board, and then our board can decide, and we have eight or nine mines on the board now, and so collectively, we get to make really, really educated choices.
So what I would advise to other people in their businesses is one, get yourself a really good strong business partner that you can just latch onto and can put all your faith and trust into, and then collaborate with them to learn about what you want to do. Find the effective solutions, and then pull the trigger on those effective solutions.
And then when you kind of move beyond just a business partner, if you move to the realm of board members or a larger team, surround yourself with other brilliant minds because collectively, it feels like you can make really educated decisions because you'll have a lot of experience from different backgrounds, a lot of different perspectives.
You'll have a lot of different personalities, so you'll really be able to key into that group dynamic. A word of caution, though, when you do get into a group dynamic setting, be careful of groupthink where groups kind of just tend to mob onto one idea, and it may or may not be the best idea. It just might be the one that the mob kind of latches onto.
And so you really need both, both realms of that thinking groupthink and then of an individual leadership mentality where you can still have that leader guide that group so. I know that was said like a lot about companies and ideas and general and business and that that whole realm of decision making. I mean, there are books and books and books all about how to go down a hierarchy of controls or a hierarchy of decision-making powers.
There is so much information about that. And I just wanted to give you a little bit of insight into what we do and how we operate because I just love, love sharing it with you guys. So hopefully, that gave you a little insight into what we do. I love the board member idea. Now we really are moving it forward with that board, and we are growing. So love you guys, and we'll see you next time. And that's a wrap. Thank you so much for supporting us. We'll see you next time, and we love you!
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