Transaction Management

It’s That Time of Year to Go Back to the Drawing Board

These simple yet powerful tips will help you plan like a pro.

 

Alas, the most wonderful time of year has arrived—business planning time! To ensure that your business starts 2021 off on the right foot, keep these four tips in mind when crafting your plan:

1. Base your goals on tangible wants and needs. For example, here at City Chic, we have a workbook that outlines each individual’s personal goals for the year and how much they cost, along with their professional goals for the year and how much those cost. The first step of any worthwhile business plan is listing the baseline expenses you need to live (rent or mortgage, car payments, utilities, etc.). It helps to have those basics all laid out so that you know exactly where you stand and what you’re striving for.

2. Be excited about your business plan. If you dread analyzing your business plan, or just hate planning things out in general, that means something is seriously wrong; you’re either forcing yourself to do activities that don’t fit you as a person or picking goals that are far from feasible. You should feel inspired to get your business in order for the coming year so that it’s your most successful one yet. If you’re feeling helpless and overwhelmed, perhaps it’s time to revisit those all-important foundational questions: Why are you in real estate, and what do you want most out of this career?

If you dread planning, that means
something is seriously wrong.

3. Keep things simple. We have a one-page business plan that basically outlines your yearly goal, the three to four initiatives that you’ll take on for that year, and the necessary steps for each initiative. It’s really easy to get bogged down in the minutiae when working on a to-do list, so it’s helpful to be able to refer back to a documented strategy that’s broader in scope.

4. Review your business plan regularly. One of our agents printed out her one-page business plan, framed it, and placed it on her office desk at home so she can see it every single day. Maybe that’s a bit too direct for your tastes, but nevertheless, you should be looking at your plan often. Also, it’s incredibly important to have a mentor or accountability partner who can hold you to your plan. If someone is routinely checking in on your progress and willing to discuss problems you’re facing in real time, it’ll be much easier to gain momentum toward your goal. It’s all too easy for us real estate agents to get trapped in our minds, so always invite trusted people into your life to offer you a little nudge now and again.

There you have it! Four solid tips for business planning that every agent can implement. If you have questions on any one of them, or want more advice on how to set yourself up for success in 2021, reach out via phone or email. I’d be happy to chat with you! Until then, good luck, and have fun with it!