Happy Independence Day from WBNL Coaching!
Can you believe that the first half of 2016 is behind us? What better time to pause and conduct a review of your goals and business plan for the remainder of 2016 and make any necessary course corrections. In this week’s WBNL 52 business and coach tip, we have outlined some steps and suggestions to conduct a mid-year review of your business.
- Break-out your business plan and review your goals and business acton plan for 2016.By the way, it’s never too late to write your goals and complete a business plan. Wanderers Club members, if you haven’t done so already, visit Module 1 of Connecting Your Real Estate Business for all the downloads and video tutorials on creating your business plan. http://wbnlcoaching.com/connecting-your-real-estate-business-course/
Basic Members go here for the Business Plan Course
- Update your personal and business budgets. Have you been tracking your actual expenses against your proposed budget for 2016? Have you incurred additional or unforeseen expenses? Where can you make changes or adjustments in your budgets?
- Assess Your Target Markets. What are the 3-5 target markets or niches you have focused on during the past 6 months? What is your return on investment for each? Remember your real estate ABC’s – Always Be Connecting!
- Track Your Production. Use the Business Plan template to record your transactions year-to-date. Keep track of your closings, pendings and active listings to assess if your are on track to meet or exceed your goals this year.
- Revisit Your Success Action Plan. Do you need to make any adjustments in your activities and strategies? Do you need to recommit to your daily, weekly, monthly activities for attracting business?
Success Action Plan (Tip: Use the template from your Business Planning downloads)
Use your business plan to create your daily, weekly, monthly ACTION PLAN. These action plans will outline the income-producing activities, and other tasks you are committed to, in order to achieve your desired outcomes. Review and stick to your Action Plan DAILY! Decide on the 3-5 activities you are committed to doing consistently.
Income producing activities include:
- Make ______ contacts daily
- Send ______ personal notes weekly
- Add ______ people to your database weekly or monthly
- Contact ______ FSBOs weekly
- Contact ______ Expireds weekly
- Hold ______ effective open houses weekly/monthly
- Mail or email to your SOI/Past clients valuable market information monthly
- Mail or email to your designated farm of ______ properties monthly
- Door knock/ door drop ______ houses monthly
- Take _____ past client to lunch monthly
- Network with _____ business to business referrals monthly
- Hand out 5-10 business cards, 5 days/week and actively ask for business or for permission to add them to your database