Starbucks has grown behemoth corporation and become a part of international culture. In countries around the world, people of different nationalities line up to get their caffeine fix, many of them daily consumers. The chain of cafes is a textbook example of ubiquity.
These facts are made all the more amazing when you think about the product they sell. It is something that every person could make in the comfort of their home for hundreds of times less than they pay in-store. So in some ways it boggles the mind to try and understand how they have grown to dominate the industry.
Also, how any of this applies to real estate agents?
Starbucks provides convenience. Their stores are everywhere. They have over 25,000 locations worldwide. You can order at the counter, the drive through, or over your phone. They work to be in front of the consumer and make transactions as frictionless as possible.
Free Wi-Fi is a major added bonus.
Starbucks is efficient. Every aspect of their production is scrutinized and improved to make it as productive as possible. No matter how good a system is, there is always room for improvement if an idea presents and proves itself.
They know their market. Most importantly, they provide consistency while embracing variety. They offer seasonal drinks that delight customers and menu options to fit the culture of the countries in which they operate. But they never lose sight of the fundamentals. With all those forward-facing innovations, they always make sure their primary product, a simple cup of coffee, is superb.
Real Estate agents need to apply these three factors to their business if they want to scale and be successful. Provide total convenience to your clients. With all the options available due to technology, you need to focus on making everything easier for your clients. Drill down into your process and make it as organized and efficient as possible. When your routines are perfect, this gives you more time to know exactly what your clients want. All of your energy can be devoted to analyzing the market and creating an amazing client experience.