041: The 1-3-5 Method that Brian Coester used to Grow CoesterVMS from Local to National

Background on Brian Coester:

Brian Coester is CEO of the national appraisal firm – CoesterVMS. The son of one of the east coast’s most reputable appraisers, Brian literally grew up in the business. Since becoming CEO in 2005, Brian has grown CoesterVMS from a local appraisal company to a nationwide provider of appraisals and appraisal technology. He is the mastermind behind Cloud Control, the only appraisal process management software built on the award-winning Salesforce.com platform. Brian is a highly regarded speaker, presenter, and trainer in the appraisal industry. He has authored dozens of articles for the mortgage and real estate industry.

Time-Stamped Show Notes:

[0:48] CoesterVMS is an appraisal company which provides lenders with the most accurate valuations.
[1:56] Brian started his company 10 years ago.
[2:06] His dad was an appraiser. He thought school was boring and he was more interested in having a business.
[2:47] He started soliciting just as a salesperson and he hired appraisers until he got his license.
[5:00] “The core value proposition was that we’re local, that you’re gonna call me 24 hours a day, 7 days a week, that we have good appraisers that works for us and that we take care of your stuffs right away.”
[7:06] Last year, they had $24 million revenue and a projected revenue of around $30 million this year.
[8:04] They would negotiate a fee with the appraiser beforehand.
[9:40] “It takes a while to mature a value proposition that makes sense with market..”
[11:02] Your sale when you’re doing a service or website or technology or whatever it is, it’s a product itself.
[16:44] The hardest part for Brian was figuring how to replace himself.
[17:25] The 2nd hardest part is knowing when to replace the person you hired and get somebody better.
[20:03] “In the beginning I was not as clear on the expectations for people and really measuring the results..”
[23:02] His two mistakes at the beginning were:
- He didn’t hire administrative people to cover for some the staffs in the office.
- Once he had the administrative people, he didn’t really organized them.
[24:52] “Young entrepreneurs don’t realize that those fundamental disciplines enable you to grow the business..”
[26:27] It’s not necessarily if the processes are right or wrong, it’s just that things are documented and organized.
[31:01] “Focus on being organized rather than it being based around whatever is next in your plate..”
[32:17] All the big companies that you’re competing against, deal with the same things that you’re dealing with. They are just more efficient and effective in handling them.
[35:02] The most effective thing they’re using, aside from Salesforce, is just 2 pieces of paper:
- The “1-3-5” that the salespeople have.
- And the “125” list.
[35:14] “1-3-5” means:
- Your number 1 goal.
- 3 target goals below your number 1 goal that you can hit.
- 5 daily activities that you’re going to do every day to knock out the 3 goals that lead to your 1 goal.
[36:44] The “125 list” is the list of the 125 prospects that in your market that meet your criteria.
[38:29] Ultimately, technology gives you a competitive advantage if you’re doing the fundamentals right.
[41:15] “As an entrepreneur, (you’re the quarterback) your job is not to do anything with the ball but to give the ball to the right person…”

Fabulous 4 Questions:

📖 📚 Favorite Book(s)? John Maxwell I am a huge fan of anything by him (Top 3 John Maxwell Books on Amazon: The 21 Irrefutable Laws of Leadership, How Successful People Think, & The 15 Invaluable Laws of Growth). Other than that I go for originals like Meditations by Marcus Arulius or the Art of War by Sun Tzu. Books that have stood the test of time.
🙌😎 Favorite Amazon.com purchase? My Lenovo Docking Station for my laptop. Have two that mirror my work and home office.
🌱💸 Favorite Tool that's GROWN your Business? E-mails and cold calls, e-mails and cold calls.
💭💡 BIGGEST Challenge keeping your Business from GROWING? Getting the right people in place and facing the right direction.