1) Confusing Goal Setting with Business Planning. Plans are calculated; goals can come from thin air.
2) Excluding Transaction Costs from your Business Plan- The more transactions you do the more money you will spend, your plan should take that into consideration.
3) Omitting Activities from your Business Plan - a Business Plan is to break that income into activities that you will accomplish each and every week.
4) Focusing on GCI (Gross Commission Income)- GCI is not a measure of profitability, it is a measure of gross revenue before split and franchise fees.
5) Paper - A properly constructed business plan should be dynamic enough to keep you informed of where you are in your business, hard to do with paper.
6) Not Calculating Overhead per Transaction - Overhead per transaction is the figure that summaries the total amount of overhead that comes from each commission check.
7) Having No Accountability- Your Business Plan should allow you to hold yourself accountable for Activities, Expenses and Revenue.