3 out of 100 Realtors have a written plan. That means that 97% of your competition has no clue as to what they want to accomplish with their business long term. Kind of scary. Any successful business has a plan yet in Real Estate we often let that slightly important fact fall thru the cracks as we get busy with other things.
If you are looking to develop a plan follow these simple rules:
1. Keep it simple. It does not have to be a masterpiece and it will never be finished so don’t go for perfection.
2. Make it ‘SMART.’ Any business plan needs to be SMART: Specific, Measurable, Attainable, Relevant/ Realistic & Time Sequenced. If you are not sure what this formula means or how to apply it, read on.
3. Have Actionable Items: Successful business owners juggle a lot and so too must a successful Realtor. Within your plan should be a list of the projects you need to be successful (finish website, mailing campaign, Facebook business page, etc). Have each item organized as to what you need and when you need to get it finished. Include your budget and dont forget to make it SMART!
4. Review Weekly: The expression work you plan and plan you day did not fall from the sky. Someone realized that a business plan is a living document and needs to be reviewed…weekly. Look at your plan and you budget your weekly time. Tackle the high priority projects first.
5. Source Your Business. If you don’t understand history you are doomed to repeat it. Look constantly at where your business is coming from. Adjust your plan and your budget accordingly.
If you would like to have a copy of a business plan to get started on your own, send me an email and I will send you a format that is workable;’ jwilton@weichertrealtors.net
