Entrepreneurs are those with a business dream who are willing to engage in 'proof of concept' trails before selling the proven idea as a start up business. A start-up business is one based on proven concepts and may have evidence of revenue generation. Although real estate agents embrace an entrepreneurs spirit, their business requires no proof of concept, and is based on long established principles.
A person unfamiliar with long established principles may be well served to start their professional real estate journey from the same place as the entrepreneur. You will see why shortly.
A study published in Small Business Economics (http://link.springer.com/journal/11187) found that entrepreneurs (pre-real estate school) that take the time to create a plan for their business idea are 152% more likely to start their business (post real estate school).
Not only that, those entrepreneurs with a plan are 129% more likely to push forward with their business beyond the initial start-up phase and grow it. These findings are confirmed by another study that found that entrepreneurs with a plan are 260% more likely to start their businesses.
Interestingly, these same small business owners who build plans are 271% more likely to close down a business. WHAT!!!
This seems counter-intuitive to the stats above, but when you think about it a bit more, it makes a lot of sense.
Entrepreneurs, those wanting to start a small business much like a citizen considering going to real estate school, who have business plans are tracking their performance on a regular basis. They know when things aren’t going to plan—when sales aren’t meeting projections and when marketing strategies are failing. They know when it’s time to walk away and try a different idea instead of riding the business into the ground, which could have disastrous results.
Action: If you really want to start a business, to become a real estate agent, start committing your goals and strategy to paper. Even if it’s just a simple one page executive summary business plan.
GET ON THE RIGHT TRACK - LuLu.com (One page executive summary business plan pg 32)