What are your financial goals this new year? How much money are you going to make?
People who write down there goals will achieve them much more than those who don't. You must write them down with a pen or pencil in your hand not typing on a computer or on your palm pilot. There is some connection between the hand and the brain that makes your goal setting much more powerful.
Figure out how much money you want to make in 2008. I mean how much do you want to make in adjusted gross income, not how much total before your Broker gets their share.
Write it down. Write it in the present tense as if you already have achieved this goal.
"I am so happy and grateful now that I have earned $300,000 this year."
Now, how are you going to make this amount of money? Look at how much money you made last year and how many deals it took you to make that amount of money last year.
I find that it is easier to work with the same amount of units but to raise the amount that you are taking home out of those units.
Here are some examples of ways to raise your income but not raise the amount of work or money required.
- Negotiate a higher percentage from your Broker or change companies to one that will give you a higher percentage but not require more outlay of expenses.
- Increase the dollar amount of your listings. If you are listing 60 units a year in the $150,000 range just raise that to listing the same amount of units but doubling the value of those units to $300,000 per unit.
- Stop spending money where it is being wasted like in Print Media and on more than 2 websites. Look through your expenses and see where you can curb some more spending. Every little bit will help to bring your bottom line up.
It is not about how many assistants you can hire or how many deals you can do; it is about how much of each deal do you keep? If you can raise that you will be making more money.
The other things you need to do in order to make more money in 2008 is to take time out for yourself. I like to say, work more on yourself than you do on your business. To help your bottom line, learn more and do more about bettering yourself by taking classes, reading books, meeting new people, expanding your horizons or hiring a coach or mentor.
What books are you planning on reading this new year?
What new people are you planning on meeting this new year?
In five years from now you will be same person you are today except for the books you read and the people you meet. You will also have the same income you have as those around you have. That is why they say to be successful hang out with successful people. It is contagious. Just as the opposite is.
I love the story about the crabs. If you put a bunch of crabs in a pail when one starts to climb out all the others pull him back down. Misery loves company and no one that is worse off than you wants you to climb out of the pot either so it is up to you to make the changes to attract different circumstances.
I have been coaching a couple of AR members who are having issues with their brokers who are keeping them down and not allowing them to spread their wings and fly. They need to change brokers! You need to be uplifted or else you will not make money and that is not good for the you or your broker.
So to all of us who are planning on increasing our bottom line and make more money in 2008 than we did in 2007; Here is a toast for you!
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