Pre-Plans for my Business in 2014
For the last few years, I've sat down toward the end of the year and put down in writing what my plans and goals would be for the coming year. As part of this, I've always looked primarily at financials but just as important is to figure out where the business is going to come from.
Therefore, this year, I decided it would be a good idea to not only take "inventory" of existing listings and ongoing sales contract but also list all the current prospects for either sales or listings coming up. I'm finding that this is a very good exercise, the list started out short but as names and addresses are being added, it provides a great outline of where the business will be coming from at least in the first few months of the coming year and what to focus on now. I can already see where this will be a valuable planning tool throughout the entire year.
Tax planning is another big part of business planning. I just attended a CRS tax webinar that gave a great overview of tax changes for 2014 as well as tips for my business. As a result, I decided that I needed to improve my retirerment planning and met with an investment professional to discuss the different options that may be available for my business.
Since I am incorporated, there are some very attractive retirement planning strategies that will also help me to reduce my taxable income for the year while putting money away for my own "golden years"! This is one part of the planning process, I am very excited about.
Finally, for next year, I'm planning on further increasing my business from referrals, either outgoing or incoming. I admit there have been a few outgoing referral opportunities this year when I wasn't that quick to refer a prospect to another agent because I was strapped for time or some other reason. Nevertheless, this part of my business has become quite successful and I am planning on giving it the attention it needs in order to utilize these opportunities to their fullest.