The numbers never lie.
I know you are thinking about the 80/20 rule or The Pareto Principle.
And as stated in Wikipedia:
“The law of the vital few, and the principle of factor sparsity.”
In business, it is generically thrown around in sales as the 80/20 rule. Meaning that’s it’s a given that 80% of a companies sales comes from 20% of it sales force. Clearly defining the other 80% of the sales force as shit.
Which brings me to The Duke 20/100 Rule.
In commercial real estate, it’s a given that at the very least 20% of the sales people are creating at least 80% of the deals.
I think it’s more like 20% doing 100% of the deals. The Duke 20/100.
Sit back and think. Look around the office.
How empty is it?
Where is everybody?
Out doing deals of course.
Are they? Are they really?
Do you know the real numbers in your office?
Side Rant: Before we even get started you are scrolling right down to the comments section to BLAST out to the entire world how fucking amazing your office is what a freak of nature it is and that everyone in “this” office kicks ass in “blah blah” market, and you want to be sure and put a link to your website in the comments just to prove your point. I do have the ability to approve or unapprove the comments. I may or may not. I’ve always seen this space as an open form and pride myself on that. If you pitch your shit in the comments section who knows though what may happen. It is my fucking site after all.
And the reason for that is?
First off there are the lazy old fucks, and I mean old fucks are doing nothing.
And the kids are starving. You know they are. Sure they have a split. But a split of nothing equals starving.
What a business. So professional. So demanding. So fucking special.
Seems like professional hazing. Some of the boys may be used to that.
I’m not. I was in the military first. What do you think my attitude was like once I hit the campus? (Shame you quiet?)
Maybe that’s where part of the attitude comes from?
We have an even bigger problem.
Lack of real talent.
Or even worse. We cannot attract any quality talent.
I said NO quality talent. All props and respect to the young people busting ass but…
How in the fuck do you eat?
You, people, are mostly hard driving dudes who make NO fucking money at all trying to “earn your shit” and prove to the old fucks you have what it takes. Again props.
One of the first things they did was give you a cold call list to a base of owners. Again making bones.
And then you know what happens.
They are damn sure making the young guy who is busting ass calling the list get’s fucked out of any deals that come out of that pipeline (Received an email this week asking my advice about how to keep this from happening) What do you think my answer was?
But, but of course, they gave you a mentor didn’t they?
They gave you a mentor didn’t they?
How’s that working out? Be truthful.
Go ahead and say it.
“Mentor my ass. All he does is mentor me to starve and on top of that I have to feed the old fuck anything and everything I get, and he is as lazy as shit.”
Don’t worry I feel you as they say.
You don’t need a mentor.
You are smarter than they are. They won’t admit that. It’s not because you understand technology. It’s because you are just smarter.
The problem is that the real talent coming of colleges and the top business programs go where?
They go where they can fucking GET PAID.
I’m the father of a recent college grad and one in her first year.
What do you think I think about?
What do you think I want my girls to do?
I want them to GET FUCKING PAID and PAID well.
Did they even hint at doing what daddy does? There may be many reasons for that but at what point as a parent did I not steer them into commercial real estate.
The system is fucked.
I’m in no way going to subject my baby’s to this shit system of misogynist fratboy slavery.
Where is the income stream?
Where is the opportunity? The long term opportunity?
Ironically the biggest and best have already figured it out.
Give CBRE, JLL and DTZ some credit. (I think I may just shrink my name to TDL) They use the transaction to create income from other services.
If you can’t figure out that last statement get the fuck out of commercial real estate. You don’t belong here.
So it’s to The Duke 20/100 Rule.
20% percent doing all the deals for the entire industry and floating the rest of the 80% for no fucking reason at all.
It would be very simple to change that.
Get rid of the 80%.
Lower the overhead. Get rid of the fucking bullpens and cubicles.
You have a phone and computer. Why pay for everyone else to sit in the warm comfort and do NOTHING?
Get your money. The money that you earn. Stop supporting a system ( I did say misogynist) that is 20 years behind the rest of the world.
I’ve heard the argument and argument is such a fucked up way of phrasing it but “it works” the system works “we are all making money.”
Who are we?
Is the we YOU?
The you doing nothing as in not shit.
You know who is making all the money and supporting your system.
It’s The Duke 20/100 Rule. Yes, That’s What I Said The Duke 20/100.
+1 Thanks Jay