I recently had the privilege of presenting to a great group of real estate professionals attending the Florida REALTORS Annual Conference and Trade Expo / Celebration ’15.
Here is the Slide Deck from the session: Powerful Real Estate Business Plans
You can download all the customizable Real Estate Business Plan templates and get the entire business planning course with your free basic membership.
Step 1 – Set Your Goals (Outcomes)
Identify clear, concise, SMART goals and know your WHY for each of them.
Measurable/Meaningful to you
Attainable/As if Now/All areas of your life
Timeframe/Toward what you want
- Write them down for all areas of your life (Personal, Financial, Business/Career, Relationships/Family, Spiritual)
- Create Action Plans – break the goal down into steps and next actions. Take action every day!
- Measure and track your progress – you can’t improve what you don’t measure.
- Celebrate your successes along the way – make any necessary course corrections.
Why Write Down Your Goals (Outcomes)?
- To clarify what it is you truly desire. Writing down your goals forces you to select something specific and decide what you want and when you want to attain it.
- To motivate and inspire you to take action. Writing your goals down is only the first step. It is also important to review them regularly which supports you to take the next most important action toward your goal.
- To help you overcome resistance. Every meaningful intention, dream, or goal encounters resistance. From the moment you set a goal, you will begin to feel it. Resist the temptation to focus on that resistance and instead focus on what you want to accomplish.
- To enable you to see—and celebrate—your success and progress. Written goals are like mile-markers on a highway. They enable you to see how far you have come and how far you need to go. They also provide an opportunity for celebration when you attain them.
Step 2 – Create Your Business Action Plan
Conduct an Assessment and Review of the current or previous year. Start by analyzing your previous year’s business – this form will help you gather and calculate key factors for your specific business. Everything from sources of business to average days on market and listing to sale ratios. Before you launch into your plan for the coming year, it’s critical to review what worked last year and to know your basic numbers.
Step 3 – Measure and Track Your Results
You can’t improve what you don’t measure. An excellent tracking system will allow you to make necessary course corrections and adjustments as well as track your overall success.
SECRET to SUCCESS: Create Your Daily Action Plan and Just Do It!
Once you have your business plan in place, it is critical to review it and make necessary course corrections at least quarterly. On a monthly basis, make sure to use a performance dashboard or a suitable tracking form to record your actual results and compare them to your plan or goal.
From the business plan you can create your daily, weekly, monthly ACTION PLAN. This plan 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!
A basic mantra or affirmation for your consideration and real estate success could simply be:
“I make one qualified appointment daily!”
Your basic, FREE membership includes:
WBNL Coaching Real Estate Business Plan Online Course and Downloads