Business Planning: Why? How? When?

Why?  

“The definition of insanity is doing the same thing over and over again and expecting a different result” - Albert Einstein

A business plan is just a document that collects all of your thoughts about the commitment you are making to yourself for a period of time or a project. You would not expect an athlete or an athletic team to take the field or court without a game plan. You wouldn’t expect a movie director to film a movie without a script, and, to use a “Take Flight” metaphor, you would not expect a pilot to take off without a very detailed flight plan.

A vision without a plan to execute is a fantasy.  You will not get there.

How?

“You can make positive deposits in your own economy every day by reading and listening to powerful, positive, life changing content and by associating with encouraging and hope building people.”  Zig Ziglar

The biggest commodity in real estate brokerage is the HOW.  Learning the HOW takes time and time is money.

Step 1:  You take 1-2 hours, uninterrupted, and just “think” and ask yourself the following questions:

  1. What worked in 2020? Do I continue with it?
  2. What did I learn?
  3. What do I want to replicate?
  4. What didn’t work?  Do I stop doing it?
  5. How can I work more efficiently?
  6. Of the transactions that I really enjoyed, what were the similarities?  How did I meet them? How many were referrals?
  7. Of the transactions that were difficult, what were the similarities? How did I meet them?  How many were referrals?

By asking yourself these questions, you’ll start to get some clarity.

Step 2:  Develop No More than 3 Goals

  1. Financial/Business Goal
  2. Health and Wellness Goal
  3. Lifestyle Goal

Step 3:  Create a clear action plan for each goal.

Step 4:  Decide what you will do to celebrate when you reach each goal.

Step 5:  Start to Execute on your plan.

When?

“When would NOW be a good time!” - Tony Robbins

Since you are all in real estate brokerage, NOW is a good time to start planning for 2021. You need the runway of the 4th quarter to prepare for 2021. You should be executing on inventory management and planning for Feb 1, 2021.