All this week while I'm on vacation I'm working on my business plan for 2014. I've been doing business plans for the past couple years and every year I try to make it a little bit better than the year before. The first year I did it it was very simple and only one page. How many transactions and how much I was going to make. This past year it was over a dozen pages long and spelled out how many different types of transactions I would do, what months I would do them, where they were going to come from, how many open houses I was going to do, how many listing appointments I needed to go on to get those listings, etc, etc.
I think you have to be very specific in setting your goals in your business plan. Through past knowledge you should know what months you should be doing your most sales and which months are slow. This should help you be able to break down when you need to do what tasks to be successful. As an agent you know that to close a sale in June you need to go under contract. This allows you to set annual goals which you can then break them down into quarterly goals, monthly goals, and even weekly goals. Anything is easy if you can break it down into manageable pieces.
Now that we're at the end of the year I can see where I did well and exceeded my goals and also see where I failed to reach my goals for the past year. I cna see that I did more buyer transactions than I predicted but less seller transactions which tells me that I need to concentrate more on listings for next year.
I encourage any real estate agent to set those goals for next year and write a business plan. Break down the annual goals into measurable action steps every month at a minimum. A dream without a plan is just a wish!
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