Stretch Goal:

Defined as a goal that cannot be achieved by incremental or small improvements but requires extending oneself to the limit to be realized.

You cannot take baby steps to achieve a stretch goal.

A stretch goal in real estate may be to double or triple your production, build a powerful team or change your business model so radically that you no longer work weekends.

I recently set and obtained a stretch goal. As my business has been expanding, my fitness level has slowly been deteriorating and I really wanted to turn that around. I made a decision to ride the Granfondo – a road bike race from Vancouver to Whistler. I just completed the ride this past weekend and I am super excited about how a physical stretch goal can be a powerful metaphor for setting and reaching stretch goals in our business.

The first step in my Granfondo journey was to set a specific goal and to commit to it. I didn’t just want to ride it, I wanted to race it and finish in under five hours. I needed to do the research to know if this was realistic and to know what amount of training would be required. A lot! The next step was to commit. This meant registering for the race, buying a road bike and clearing 20 hours a week for training.

In real estate, the first step is the same. Set a specific goal and commit to it. Want to sell 100 homes? Build a team of six? Perhaps you only want to work 40 hours a week and have most evenings off. Be specific and then do the research to find out what it will take and if it’s realistic. Ask agents you respect, consult with a coach, talk to your broker. (Hint: it isn’t about working more) If you are willing to do what it takes, commit. Commit means prioritizing your business goals above everything else. It means finding a mentor or hiring a coach. It means getting the necessary skills to do the work that matters. Don’t commit until you are ready.

The next step in my Granfondo journey was training. I needed to learn road bike skills and I needed to elevate my fitness level significantly. I found riders in my community to help me. I spent a lot of time on my bike and worked to hone my style. I practiced YIN yoga so that I could train harder and recover faster. Most importantly, I rode my bike even when I felt crummy, when it was raining or when other really awesome opportunities came up. It was the number one priority.

In real estate, this means doing the work. Find people that need to buy and sell. Get the skills to qualify people quickly and elegantly so you can choose the right clients. Build relationships that are respectful and learn how to get deals done without unnecessary complications. Like my training, you need to do all of this even when you don’t feel like it. Sometimes it’s going to be hard to make the calls, to be curious about your prospects and to solve the problems, but if you want to reach a stretch goal, it has to be your priority.

In training for the Granfondo, there were several significant obstacles that I needed to overcome. The first one was a 10 day vacation planned for Ontario during prime training time. Solution, take my bike and ride on my vacation. This was a pain. but I did it because if I hadn’t trained those 10 days I would not finish in under 5 hours. The second was an old back injury that was causing me a lot of pain when I rode. I considered quitting several times but between Yoga, daily stretching and massage (ok a few pain killers too) I managed around the pain.

In real estate, you will also encounter many obstacles. If you want to reach your stretch goal, you need to find ways around or over them. Markets change, people get sick, children need attention, stress overwhelms – the list is endless. The difference between those that reach their goals and those that don’t is in how they perceive these obstacles. Expect them and create solutions.
Finally, I rode the race. It was exciting, new and extremely challenging, but since I was prepared, it was successful. It was a huge amount of work. It hurt, a lot. I needed to dig very deep towards the end to find some energy to keep going. I finished in 4:51 even with a huge headwind. It was super rewarding!

You’ll build the business you want – if you prepare, do the work even when it’s hard, persist, dig deep and find the strength. You’ll reach your stretch goal even though there will be huge headwinds. It will be super rewarding!