Those with Strategic Plans Are Already Pivoting

By
Real Estate Agent with Dirt Road Real Estate SA676002000

With all the talk about a "new normal" how to pivot in these turbulent times of uncertainty, those savvy small business owners and yes that means you as a realtor or real estate agent have already returned to their strategic plans. They are researching, analyzing, and making the necessary course corrections to transition their businesses to this "new normal."

 

Outstanding strategic plans are goal driven with key performance indicators (KPI) to ensure the goals will be achieved. For example, one real estate KPI that most Realtors share is inventory. Without inventory, there will be no sales, no growth, no sustainable business.

 

From my experience as an executive consultant and sales coach, I can personally attest to those who have a solid, goal driven plan know to consistently review it and update it when necessary. Pivoting for these individuals is almost second nature.

 

What I also know is many engaged in real estate as well as other small businesses especially those non-employed (having no employees, think independent contractors) fail to invest the time to craft a comprehensive strategic plan. Instead they demonstrate “spray and pray” behaviors. Spray their actions all over the place and pray something will stick.

 

This past week I listened to a successful Realtor who said when he decided to go into real estate, he embraced the D.A.N.G.E.R. Report and built his strategic plan around that report. This report is very well organized and dangers can be easily integrated into a SWOT analysis. Personally, I revised the SWOT format and titled it SLOT. I believe limitations are far more restricting than weaknesses.

 

Yes, if you want to pivot, to be ahead of the flow, then invest the time to engage in strategic thinking. If you need some additional guidance or support, please feel free to reach out to me.

 

Graphic Courtesy of Pixabay.com

 

 

Posted by

Leanne M. Smith, MS, GRI, rCRMS

2018 KGVAR Rookie Realtor of the Year-55+
219.508.2859 MST
Life Begins Where the Pavement Ends
Connect with me on LinkedIn:
http://www.linkedin.com/in/leannehoaglandsmith
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Topic:
Real Estate Best Practices
Tags:
realtors
strategic thinking
new normal
swot analysis
danger report
key performance indicators
straregic plans
pivoting

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Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Leanne - when the acronyms and buzzwords disappear, what will be left?  I don't have the answer but remain curious as our world continues to change.  

May 29, 2020 07:55 AM #1
Rainmaker
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Lauren Williams, CPO, CVO
Casual Uncluttering LLC - Woodinville, WA
Professional Organizer: Puget Sound homes

Leanne Smith You can't be afraid to come to a screeching halt and turn in another direction. I've launched a virtual division in under a month. It was in the works for next year - Organizers can't count on their knees forever! - but some luck and tenacity collided such that I was able to accelerate. My clients, current and future, will still be in need of my services once we return to something more typical, but I'll have extended what I can offer. But I think it's also true that many small business owners aren't great at business - they're phenomenal at what the business is about - landscaper, selling real estate, whatever - but the nuts and bolts of bookkeeping, marketing, etc. just isn't their strength. Those people need to admit it and find help. Lauren

May 29, 2020 09:15 AM #2
Rainmaker
2,161,589
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Leanne Smith - I really love that comment "spray and pray".  True solos don't do strategic plans in general. 

May 29, 2020 10:29 AM #3
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Leanne Smith

Relocation to NW AZ with elbow room & more freedom
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