How to Fire Like a Shark
Barbara Corcoran: Nobody’s happy doing what they’re not good at. You want to get a great job you love? Do something you’re good at. When a salesperson isn’t producing they’re not happy. And so you must have a system to make sure that they can move on to something that’s gonna make them happy. In the real estate sales field only one in four salespeople ever succeed at selling enough to even meet their overhead. So in my business I needed an ironclad system to make sure I had an exit strategy for every single would-be salesperson who didn’t have the talent. So what I did is fire 25 percent of my salesforce every year, because we needed to move them out and make the desk available to take another shot at someone who might really be talented in sales.
I never fired a salesperson who didn’t love me for it, because I allowed them to move on to something potentially that would make them happy. When you have a sales organization with unhappy salespeople as a large percentage of your population, it drags down the energy of the company, drains your financial resources, and so you can’t take care properly of the salespeople at the top.
So you’ve got to come up with a firing system - that always happens - and the reason it has to be a system is the very managers that are great at hiring are terrible at firing. Nobody’s good at it. Nobody wants to do it so you have to make a system of doing it. My system was simple. I ranked every salesperson from the top producer to the bottom whether I had 50 people or 500 people and always the bottom 25 percent were not making it. And so you must have a system where it’s mandatory that if people are not making it that there’s a system for dismissing them after a period of time of trying like crazy to help them.
Directed/Produced by Jonathan Fowler, Elizabeth Rodd, and Dillon Fitton
Barbara Corcoran on her system for firing salespeople who are dragging down the company.
Swipe right to make the connections that could change your career.
Swipe right. Match. Meet over coffee or set up a call.
No, we aren't talking about Tinder. Introducing Shapr, a free app that helps people with synergistic professional goals and skill sets easily meet and collaborate.
In his final years, Martin Luther King, Jr. become increasingly focused on the problem of poverty in America.
- Despite being widely known for his leadership role in the American civil rights movement, Martin Luther King, Jr. also played a central role in organizing the Poor People's Campaign of 1968.
- The campaign was one of the first to demand a guaranteed income for all poor families in America.
- Today, the idea of a universal basic income is increasingly popular, and King's arguments in support of the policy still make a good case some 50 years later.
She met mere mortals with and without the Vatican's approval.
- For centuries, the Virgin Mary has appeared to the faithful, requesting devotion and promising comfort.
- These maps show the geography of Marian apparitions – the handful approved by the Vatican, and many others.
- Historically, Europe is where most apparitions have been reported, but the U.S. is pretty fertile ground too.
For Damien Echols, tattoos are part of his existential armor.
- In prison Damien Echols was known by his number SK931, not his name, and had his hair sheared off. Stripped of his identity, the only thing he had left was his skin.
- This is why he began tattooing things that are meaningful to him — to carry a "suit of armor" made up the images of the people and objects that have significance to him, from his friends to talismans.
- Echols believes that all places are imbued with divinity: "If you interact with New York City as if there's an intelligence behind... then it will behave towards you the same way."
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.