Well it's that time of year again...scary movies and stoking up the pantry with candy; and what comes along with cool weather and falling leaves?
Time to work on your business plan (screams of terror from off stage...)!
Why is this such a dreaded chore? Maybe we just don't understand it well enough. So many times I watched agents and managers go through this Autumn ritual with no real appreciation of what it could mean to an agents business. This is the time we should examine the past for strengths and weaknesses, and look to the future with firm strategies to succeed.
This is a process, but too many times we short cut the process by just deciding what we would like next year to be. We say things like "I'll increase my business by 10%" or "I want to do another million in volume" or even "I'll probably do the same next year" All of these are just wishes unless you have the strategies and plans to make them real. No matter if you define ‘plan' as a noun or a verb you have to more than just hope and wish for success, you have to decide what you want and devise a strategy to get there. Here are the basics steps in my business planning model. If you want more on this model just contact me and I'll send it to you.
•1) Decide what went right and what went wrong last year. Where did your business come from?
•2) Know what you need from your career. Define both your personal and business budget, and what other sources of income you have, so you'll know your actual ‘needs' not just what you want. Don't forget to budget for vacations and increased marketing expenses - you are succeeding now, remember?
•3) Set your goals based on needs first, then wants second. Be sure to define your goals by units, sales volume and income.
•4) Create a list of things you'd like to accomplish; financial and career goals.
•5) Define the strategies to accomplish each goal.
•6) DO IT.
This isn't anything new; I haven't created a planning model that will revolutionize the industry or anything. I've collected ideas over the years that worked for me, and tried to make them simple to understand.
Bottom line: Planning isn't wishing, it's preparing a strategy for success and then executing it...everyday. So go out and make it a great one, you deserve it!
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