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The Value of Low and High Revenue WAY SMART Goals

Real Estate Agent with Dirt Road Real Estate SA676002000

The life of a real estate agent who is a small business owner often presents unexpected and unplanned for twists and turns.  Suddenly one’s real estate practice or small business is bombarded with inquiries, new or unanticipated day to day problems, last minute appointments, then often required or necessary continuing educations units or seminars. Add in the daily newsletters, industry information websites and the hours in the day aren’t enough.

This is probably one of the best reasons for having low and high WAY SMART goals.

Many folks set annual revenue goals which often represent an increase from the previous year. However, what I have observed is the revenue goals fail to account for business expenses to lulls in the market. What is required is a bottom line revenue goal that will meet expenses and still make a profit to satisfy the US Internal Revenue Service. Additionally other bottom lines, low goals, should be included such as marketing, personal outreach to current, past and future clients.

For me, I look forward to having my low sales goals or revenue goals achieved by the end of second quarter and no later than the end of third quarter. In this area, fourth quarter sales are not terrifically high. Of course as the real estate market is unpredictable, sometimes fourth quarter can be quite busy. By the end of third quarter I also review all small business goals to ensure that my real estate practice will have another profitable year.

Just in case you, as the reader, are not familiar with my rendition of WAY SMART goals, here is the acronym spelled out:

W=Written: Goals must be written and of course there are always a few exceptions where business people do not write down goals and are still successful, but again these folks are few and far between,

A=Aligned: Goal achievement works much better when goals are aligned to one’s passion (why drives you), purpose, values, vision and mission.

Y=Yours: When goals are set by other people, this behavior reduces the positive impact and often causes unnecessary stress as the goals are often out of alignment. Goals must be truly owned by each individual.

S=Specific: The more specific a goal increase the successful achievement of that goal.

M=Measurable: By including measurement allows for benchmarks and continued monitoring of the results of the activity.

A=Actionable: Often people fail to take action.  To overcome this struggle, helps when the goal has written action steps in a sequential order to ensure successful goal achievement.

R=Realistically Set High:  Easy goals are just that easy.  When one stretches, one grows in all aspects of life.

T=Time Driven, Target Date: Again having written target dates based on thorough working through the goal may result in changes to those target dates. Target dates are not set in stone.

For me, having low and high WAY SMART goals has always supported me in my efforts as a small business owner. This past behavior has transferred into my current real estate endeavors. And what is even better no surprised payments to the IRS.

Photo Courtesy of Pixabay.com

Any reproduction of Leanne M Smith’s blog for use by any AI or GAI, distribution or reproduction including but not limited to electronic newsletters e.g. PDF’s Internet sites or physical products e.g. newspapers, CDs without prior written permission and consent by me, Leanne M. Smith (Leanne Hoagland-Smith) is strictly prohibited.

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Leanne M. Smith, MS, GRI, rCRMS

2018 KGVAR Rookie Realtor of the Year-55+
219.508.2859 MST
Life Begins Where the Pavement Ends
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