We have all heard it, write down your goals or they are just dreams. My question for many years was simply and then what? I wrote down goals all the time, posted them to walls, in my top desk drawer, on mirrors, said them like a yoga mantra only to not see them materialize, well, until I figured out you must build a road map to the goal.
I use what I call a pyramid system. I start with my design at the top. What is my goal? When I first got into real estate, the goal was to make $5,000 per month. That is about what I needed to live fairly well. So that is what I teach my team, start with a dollar figure of what would make your life good.
You place that number on top. The second row is a little larger as it represents the final work to make your goal. So in Real Estate in Arizona, $5,000 per month represents (1) average sale per month at 2% commission. So that is the final block of getting to the top of my pyramid, 1 transaction per month. Knowing that about 1 in 10 leads convert to sales, that is the next block. I know to reach my $5,000, I need to have 10 warm leads, to get 10 warm leans I know I will need to speak to approximately 100 prospects and to find 100 prospects I know that I will need to speak to about 5,000 cold calls which represents the bottom of my pyramid and the starting point to my goal.
I now know that to reach my one sale per month, on average, I need 5,000 people per month to see my name and know I am in real estate, talk to 100 of those people, search for homes for 10 of those people and I will most likely close one. I also know, that if i continue on this path, the numbers of conversions will increase and contacts, prospects and leads will require less work but that is a story for another day.
By having a simple road map to our goals, they become very simple to obtain and light the sometimes dark road to reaching them