Less than 20% of real estate agents actually prepare a written business plan and set
annual goals. I have witnessed the amazing results of those who
actually create and use a business plan and set goals in all areas of their
life. Statistics and various reports state that about 3% of adults have
clearly written goals and accomplish 5 to 10 times more than those who do not
have written goals. The 80/20 principle applies to everything - just become
aware and observe the multitude of examples:
- 80% of sales people spend 80%
their time with customers who will never buy or sell from them.
- 80% of your results will come
from 20% of your activities
- Less than 20% of agents are
responsible for 80% of all business
It all starts by writing your goals or desired
outcomes, creating a written business plan and updating/revising your business
budget then measuring and tracking your results. I invite you to follow
the 3 steps outlined below, download the accompanying forms and.... JUST DO IT!
Step 1 – Set Your
Goals (Outcomes)
The critical steps to
achieving your goals:
- Identify clear, concise, SMART
goals and know your WHY for each of them.
Specific/Simple
Measurable/Meaningful to you
Attainable/As if Now/All areas of your life
Realistic/Responsible
Timeframe/Toward what you want
Measurable/Meaningful to you
Attainable/As if Now/All areas of your life
Realistic/Responsible
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!
- Write your Action Plan on index
cards – and keep one with you
- Take a picture of your Action
Plan and Save as wallpaper or screensaver
- Put one in front of your
dayplanner
- Post it in your workspace
- Tape it to your bathroom mirror
and review it daily
- Review and record your results
daily also
A basic mantra or affirmation for your
consideration and real estate success could simply be:
“I make one qualified
appointment daily!”
Create an Action Plan that works for you – it may consist of some of the following activities:
Create an Action Plan that works for you – it may consist of some of the following activities:
- 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