WHAT IS ON YOUR 2-3 YEAR HORIZON?

By
Education & Training with Performance Development Strategies

If 2020 has taught us anything it is that we must think strategically. If you look down at details without look at the horizon and considering options you may be blindsided. While no one could have anticipated 2020, there are “what if” scenarios that you can consider. Then you can develop strategies to deal with each.

A strategic plan will consider the business today, look into the future, and have the way set out to create the future. To remain successful a business must have that plan to be successful now and in the future. Here are some of the things I discuss when helping my Westchester, NY, clients with a strategic plan:

1.        Make sure you know what business you are in. Whether you are in real estate, construction and contracting, graphic design, or consulting you must define what you provide to the customer. For example, as the pandemic hit and customers engages in new ways it was important for business to understand exactly what their were really delivering to their customers. Kodak should have realized that it was not in the film business but in the image and impression sharing business. In real estate are you selling houses or assisting buyers solving their living and working arrangements?

2.        Get in front of change.   The best way to this it to look into the future, understand the trends and how they affect your business and move yourself into them. Going forward people may prefer webinars to in person meetings. Getting your arms around the new technology and having a strategy to shift will keep you leading. There was a time when a digital camera was not an alternative to high quality film but by not leading that new technology, Kodak failed.

3.        Assess your business. Take inventory of where you have strengths in the market as well as where you are weak and vulnerable. Then use that information to look into the future to assess not just opportunities in your industry but also dangers and threats on the horizon. If you have done good business in an area where you know you are weak and you see new external threats on the horizon you may want to move away from that offering. On the other hand, look at new opportunities where you can exploit your strengths.

4.        How do you communicate and market. The method and costs of marketing and communication have already changed drastically. Today, who looks to find something in the Yellow Pages? You need to embrace the new media. You also need to embrace new methods transmission and distribution.

5.        Understand generational differences. Millennials now dominate the market. But different generations perceive needs differently, communicate differently, and engage with your business differently. Learn how you are connected to each generation. Are the things that engage one generation of no value to the next generation? Failure to understand that dynamic will result in increasingly lost revenue.

Decisions

These steps are great starting points. If you have not done a strategic plan or updated yours in the last 3 years you should get it done. It is vital to your future success.  For a similar post on our web site see MAKE SURE YOUR BUSINESS PLAN IS MORE THAN TACTICS.

Need help in creating or updating your strategic plan?

Contact Us for a Free Consultation

or call 914-953-4458.

Comments (43)

Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Barbara - what you did made this possible for your daughter. Congratulations.

Rocky - thanks.  I appreciate that.

Ralph - thank you.

Roy - thanks, I appreciate your support.

Ron and Alexandra - thanks, really finding that some people have taken good steps in re assessing steps to support their brand.

Joan - that is a good step to take which will ease your retirement.

Ed - but you probably had to make some changes in the time frame, right.

Anna - thanks, looking forward to hearing you today.

Brad - that is true and varies  by position.

Kathy - you are right about tomorrow's buyers who are fast becoming today.

Chris - thank you very much.

Laura - true, we can exchange the details but the change is constant.

Paul - the long game with the short and intermediate action steps.

Endre - that is another thing. Sixty is the new Fifty.  People keep going.

Jan 26, 2021 04:31 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Grant,
My 2 - 3 year plan is to find ways to enjoy life even more and help others do the same... through the game of golf. 

Jan 26, 2021 06:12 AM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

Thank you so much for these great ideas. My game plan is to maintain or balance work and my personal life. 

Jan 26, 2021 07:42 AM
Eva B. Liland Century 21 Doug Anderson
Century 21 Doug Anderson - Lancaster, CA
Glad to be of Service 661-714-1643

You are so right Grant Schneider . I will go to our Zoom meeting today with Anna Banana Kruchten CRS CRB, Phoenix Broker that is held every Tuesday that will address a plan for the future.

Jan 26, 2021 09:06 AM
Christine O'Shea
Christine E O'Shea Broker - Naples, FL

Great post and ideas. Boomers dominate my market and I am working on a new game plan for the next 5-7 years.

Jan 26, 2021 10:17 AM
CANDACE (Candy) STEVENS, EA
Number Cruncher LLC - Overton, NV
Helping Taxpayers Resolve IRS problems

Thank you for the tips.

Have a Happy Day!

Jan 26, 2021 06:03 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Haha 50 is the new 60 tell that to your weary bones and teeth:)) Endre

Jan 26, 2021 09:56 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Carol - I really love your plan and I know that you do too.

Joe - that work life balance is so important.

Eva - I saw you there.  Anna had a wonderful presentation.

Christine - oh yes, although the boomers are still coming to retire.

Candy - thank you.  Have a great day.

Endre - yes, I do.😇

Jan 27, 2021 05:08 AM
Erik Hiss
Keller Williams Capital Partners Realty - Worthington, OH
You can trust me for all your real estate needs!

Very good thoughts and ideas to focus on in the new year. I have (like most of us) a large portion of my business from referrals so it's getting back on the phone to catch up and invite those to lunch to see how they are doing and ask for business.

Jan 27, 2021 05:34 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Erik - yes,  have to keep up and in contact with your network.

Jan 27, 2021 07:41 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Grant:

There's lots of wise advice here about thinking and planning ahead, and being prepared. The pandemic certainly rocked the world for all of us.

Jeff

Jan 27, 2021 09:10 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good afternoon Grant Schneider ,

Excellent outline on steps to begin when formulating a plan or updating an old one. I immediately thought of Kodak just as Kathy Streib. They failed to respond to a shift in technology and boom they were out of business. We still use their slogan "A Kodak Moment." Great featured post ..so much to be gained by your wisdom.

Jan 27, 2021 11:33 AM
Paddy Deighan MBA JD PhD
federalfinanciallawgroup.com - Vail, CO
Paddy Deighan J.D. Ph.D

every plan should include appreciation of special moments with special people...they are so rare in these challenging times

Jan 27, 2021 11:01 PM
Greg Mona
eXp Realty - Scottsdale, AZ
Professional Real Estate Representation for YOU!

Lots of great info here Grant Schneider. Thanks for sharing. For me/us, it is all about better and more frequent meaningful communication with our sphere. They are the lifeblood of our business. We still, of course, do our best to cultivate new clients, but we all should focus more on those that supported us in the first place to help us get to where we are today. 

Jan 28, 2021 11:07 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Jeff - it certainly has cause people to have a redo of their business plan.

Dorie - that lesson of Kodak makes us all ask what is our business.

Paddy - that is true, work-life-balance.

Greg - I agree with that.  And sinc communication is both ways it helps us understand what business we are in.

Jan 31, 2021 05:12 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Grant Schneider - Of course, these are all things we need to do. It helps if you come from a corporate background because it is engrained in the culture. I actually took a class on "Understanding Generational Differences". It was part of my MCNE designation. 

Jan 31, 2021 07:16 AM
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Always look forward - good advice.

Feb 01, 2021 08:48 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I must thank  Roy Kelley for sharing your post again. Thank you Grant Schneider 

Feb 05, 2021 06:37 AM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I hope there are big things coming and I feel like there are big things coming my way I’m really hoping! :)

Feb 12, 2021 11:47 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Grant, I realized next September I will be 66 and 4 months, retirement age, and MAY think about doing less.    Laura can take the reins, but still probably will help some of my fav clients.

Feb 25, 2021 06:01 AM