By Scott Oppitz, Buffini & Company Business Coach
A good Real Estate Business Plan helps you identify the opportunity for success with a plan of action and goals. It outlines what you want to achieve and how you plan on getting there, and helps you allocate resources, prepare for potential obstacles and become accountable. advance planning, or as I refer to it, the 5 P’s (Prior Planning Prevents Poor Performance) will require you to use critical thinking to strategize your game plan and goals and commit it to paper.
The first place to start is with reflecting on 2016. What worked well for you? I am positive that you had more successes than you give yourself credit for. What needs to be adjusted or tweaked? This could be like you had your very first Client Appreciation Party. You learned a lot from the event and you can apply the changes to the next event. What needs to be taken off of the table? Perhaps, you had a Zillow ad and there was no recognizable (ROI) return on investment. Who were your biggest supporters and where did your Leads come from? A great thing to do is to requalify your (DataBase) Relationship List at this time so that you know where you are finishing the year. You can set goals based on the idea of Data Base acquisitions and or educating up the people in your DB so that they become advocates. Work with your Buffini Business Coach to review your numbers, stats and other key information in your Referral Maker. There are some key stats such as Contact-to-Referral ratio and Referral-to-Close ratio. Your Coach will give you the insight and interpretation of these numbers and percentages. Based on the information in your Referral Maker and with your contribution you will be able to work on the numbers to set up the Business Plan for 2017.
Setting 2017 Goals is the next step. Your 2017 Business Plan must be grounded in reality. Be very specific with your goals and create the necessary action steps to achieve them beginning with the most important tasks that will have the greatest impact. Assign yourself these responsibilities in time frames that are realistically structured. As Brian has mentioned, your business has to exist to fund your life, not the other way around. Therefore, set your business goals around your 5 Circle Goals. By working with your B&C Business Coach you will set yourself up with a living and breathing document that will establish your complete road map that encompasses all areas of your life.