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Crafting Your  Business Plan  —   Success in any Market 1
A Story <ul><li>Surely you have heard the story about the Harvard class of 1954, which was measured in two groups: those w...
A Story <ul><li>Well, it has happened again. A survey of salespeople found that 6 of 10 do not set outcome-based goals at ...
A Story <ul><li>Moral:  </li></ul><ul><li>Set goals. Review them constantly. Work toward them. That is how you will change...
Why? <ul><li>If you went into business for yourself and approached a bank for a business loan, your loan officer would wan...
What is a business plan? <ul><li>A document that outlines an organization’s current status and plans for several years int...
Before We Get Started … A few Words of Wisdom CLICK HERE FOR BUSINESS PLANNING ADVICE http://www.youtube.com/watch?v=ivFll...
Step 1: My Vision & Mission <ul><li>Vision Statement :  </li></ul><ul><li>This is the big picture. The word “vision” means...
Step 1: My Vision & Mission <ul><li>Mission Statement   </li></ul><ul><li>The mission statement should flow directly from ...
Step 1: My Vision & Mission <ul><li>A good mission statement: </li></ul><ul><li>Motivates and inspires  </li></ul><ul><li>...
Step 1: My Vision & Mission <ul><li>A mission statement for the above vision statement might sound something like this:  <...
Step 1: My Vision & Mission <ul><li>My Vision/Mission Statement is:  </li></ul><ul><li>______________________________ </li...
My Vision & Mission PLANET FITNESS MISSION STATEMENT We at Planet Fitness are here to provide a unique environment in whic...
My Vision & Mission SAMPLE AGENT/TEAM MISSION STATEMENT The mission of my real estate team is to be the most successful re...
Step 2: My Core Values 15
Step 2: My Core Values <ul><li>My Core Values Are: </li></ul><ul><li>______________________________ </li></ul><ul><li>____...
Step 3: The Past SITUATION ANALYSIS :  To get where you want to go, you must understand where you have been.   A. Financia...
Step 3: The Past 7. # of buyers sold  _____   8. Buyer conversion rate (divide buyers sold by total number of buyers you  ...
Step 3: The Past <ul><li>Where do I get this information? </li></ul><ul><li>List of closings from your manager for the pas...
Step 4: My Budget 20
Step 5: Know the Numbers   Now let us examine these numbers a little more closely.   1. My gross commission goal for this ...
Step 5: Know the Numbers   6. This year, given my history of winning at the listing table, I must   make  ______  listing ...
Step 5: Know the Numbers      10. I will need to sell  _____  listings per week.   11. Given my history of working with bu...
Step 6:  Where Do I Get My Business?         B. Where Did My Business Come From?   How did you originate your buyers and s...
Step 7: Know Your Market <ul><li>        </li></ul><ul><li>Market Review: </li></ul><ul><li>  </li></ul><ul><li>Do you kno...
Step 7: Know Your Market         Market Review:   6. What is your company’s market share vs. the   competition?___________...
Step 7: Know Your Market         10. What  three things  will you do to improve your market knowledge, combat the competit...
Step 8: My Sellers 1. On average, how long do your listings take to sell? _____   2. Is this above or below the areas aver...
Step 8: My Sellers 7. Do you provide sellers with questions for interviewing other  Realtors?_______   8. Do you have a fu...
Step 8: My Sellers 13. Do you advertise your open houses online/post them on   REMAX.com?  __________   14. Do you provide...
Step 8: My Sellers 18. Do you try to generate spin-off business around your   listings?_____ How?   ______________________...
Step 8: My Sellers 24. What is your plan for keeping in touch with sellers after   the sale and prospecting them for refer...
Step 8: My Sellers   27. What are  three  things that you should  stop  doing?   A)_______________________________________...
Step 9: My Buyers 1. Do you have a buyer’s presentation complete with services   outline, etc.? _______   2. Do you includ...
Step 9: My Buyers 7. Do you provide a service guarantee to buyers? ________   8. Do you conduct a buyer consultation sessi...
Step 9: My Buyers 13. Do you create a web commercial of the buyer’s new   home and e-mail it to them?________   14. Do you...
Step 9: My Buyers   19. How do you keep in constant contact with your buyer   after the sale. and how do you prospect for ...
Step 9: My Buyers   23. What are  three things  you could do better to attract and   close buyers for next year?    A)____...
Step 10: Personal Marketing   1. How much money did you spend on personal promotion   last year? ___________________ What ...
Step 10: Personal Marketing 4. What are  three things  you could do to increase your   success rate from your personal mar...
Step 11: Prospecting 1. Do you  schedule set time / time block  to actively prospect   for new business?____________   2. ...
Step 11: Prospecting 6. Which prospecting activities do you do most often?   _____________________________________________...
Step 11: Prospecting 12. Do you have a system for staying in touch with past   clients and prospecting them for referrals?...
Step 11: Prospecting 15. How will you prospect to attract clients from generations    X & Y? _____________________________...
Step 11: Prospecting 18. What are  three  things that you should  stop  doing? A)______________________________________   ...
Step 12: Technology 1. Are you computer proficient? _________   2. Do you have a laptop computer and an air card? _______ ...
Step 12: Technology 7. Do you have an electronic newsletter? ( RealtyTimes.com ,    Design Center ) _______    8. Do you h...
Step 12: Technology 14. Do you tell the world about your website? ______    How?___________________________________   15. ...
Step 12: Technology 21. What  three things  could you do to improve your    technology skills and the impact it gives you ...
Step 12: General & Educational 1. What skills, upgrading, and educational opportunities did   you take last year?  _______...
Step 12: General & Educational 6. How do you keep up with local industry laws and   regulations? _________________________...
Step 12: General & Educational 12. What  three things  could you do to improve your general   situation (market knowledge,...
Step 13: Overview My major strengths are: 1)__________________________________________ 2)_________________________________...
Step 13: Overview Things I can do to improve are: 1)__________________________________________ 2)_________________________...
Step 13: Overview                                             Remember, work to your strengths ● improve your weaknesses  ...
Step 14: My Objectives                                             List all of your objectives for the next twelve months....
Step 15: Monitor and Review                                             Review your action plan monthly! If necessary, ame...
Step 15: Monitor and Review                                             C. MANAGEMENT BY THE NUMBERS My analysis of my act...
Step 15: Monitor and Review                                             Quarterly Review   Seller contracts completed:    ...
Step 15: Monitor and Review                                             How well you monitor your financial performance wi...
Step 16: Track Leads Daily                                             61
Step 17: Prospect Daily                                             62
Thank You for Your Time!                                             62
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Business Planning Boot Camp

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Transcript of "Business Planning Boot Camp"

  1. 1. Crafting Your Business Plan — Success in any Market 1
  2. 2. A Story <ul><li>Surely you have heard the story about the Harvard class of 1954, which was measured in two groups: those who made goals, and those who did not. The goal-oriented graduates were broken down into even more specific groups: those who made goals every now and then; on a yearly basis; and on a monthly, weekly, or daily basis. The individuals in the finest subsets ended up with more wealth, free time, and happiness than the others. The no-goal folks were left out in the cold! </li></ul>2
  3. 3. A Story <ul><li>Well, it has happened again. A survey of salespeople found that 6 of 10 do not set outcome-based goals at all, and this group earns the least amount of all salespeople! 3 out of 10 set earnings goals, and, as in the Harvard study, this group of folks earns double the income of the no-goals group. Only 1 in 10 people sets specific goals but earns 3 times as much as those who set no goals at all. It is Harvard all over again! </li></ul>3
  4. 4. A Story <ul><li>Moral: </li></ul><ul><li>Set goals. Review them constantly. Work toward them. That is how you will change your fortune and future. </li></ul>4
  5. 5. Why? <ul><li>If you went into business for yourself and approached a bank for a business loan, your loan officer would want to see two things: 1) your income statement and 2) your business plan. </li></ul><ul><li>When you go into real estate sales, you are going into business for yourself, yet many salespeople have no clear goals or timeline for achieving them. Consistently, real estate professionals who have written business plans are more successful than those who do not. </li></ul>5
  6. 6. What is a business plan? <ul><li>A document that outlines an organization’s current status and plans for several years into the future. The business plan generally projects future opportunities and maps the financial, operational, and marketing strategies that will enable the organization to achieve its goals. </li></ul>6
  7. 7. Before We Get Started … A few Words of Wisdom CLICK HERE FOR BUSINESS PLANNING ADVICE http://www.youtube.com/watch?v=ivFllc--IzM 7
  8. 8. Step 1: My Vision & Mission <ul><li>Vision Statement : </li></ul><ul><li>This is the big picture. The word “vision” means the conception of an image. In a vision statement, you say where it is you want to go. Here is an example: </li></ul><ul><li>By the end of 2012, I will be the most successful agent in RE/MAX ABC Realty. I will lead in closed dollar volume and gross commissions earned. </li></ul>8
  9. 9. Step 1: My Vision & Mission <ul><li>Mission Statement </li></ul><ul><li>The mission statement should flow directly from the vision statement. It is the implementation of the vision, and it outlines what must happen to realize that vision. It is a “how-we- will-get-there” guide that contains action words and adjectives. </li></ul>9
  10. 10. Step 1: My Vision & Mission <ul><li>A good mission statement: </li></ul><ul><li>Motivates and inspires </li></ul><ul><li>Is easily understood and actionable </li></ul><ul><li>Has measurable, attainable goals </li></ul><ul><li>Is brief (three to four sentences) </li></ul><ul><li>Is simple, honest, and frank </li></ul><ul><li>Is fully believed </li></ul>10
  11. 11. Step 1: My Vision & Mission <ul><li>A mission statement for the above vision statement might sound something like this: </li></ul><ul><li>To realize my vision, I will prospect weekly. I will nurture and care for my past clients. I will underpromise but overdeliver on all of my commitments. </li></ul>11
  12. 12. Step 1: My Vision & Mission <ul><li>My Vision/Mission Statement is: </li></ul><ul><li>______________________________ </li></ul><ul><li>______________________________ </li></ul><ul><li>______________________________ </li></ul><ul><li>______________________________ </li></ul>12
  13. 13. My Vision & Mission PLANET FITNESS MISSION STATEMENT We at Planet Fitness are here to provide a unique environment in which anyone – and we mean anyone – can be comfortable. A diverse, Judgment-Free Zone® where a lasting, active lifestyle can be built. Our product is a tool, a means to an end; not a brand name or a mold-maker, but a tool that can be used by anyone. In the end, it’s all about you. As we evolve and educate ourselves, we will seek to perfect this safe, energetic environment, where everyone feels accepted and respected. We are not here to kiss your butt, only to kick it if that’s what you need. We need you, because face it, our planet wouldn’t be the same without you. You belong! 13
  14. 14. My Vision & Mission SAMPLE AGENT/TEAM MISSION STATEMENT The mission of my real estate team is to be the most successful real estate team in the Merrimack Valley and southern New Hampshire. My team and I incorporate proven, professional, state-of-the-art techniques for marketing, listing, and selling new and resale luxury homes, residential communities, condominiums, home sites, undeveloped land, and commercial and investment properties. I will maintain a full-time staff of well-trained real estate professionals who continuously strive to provide top-quality service for our customers. We will strive to be a creative, innovative, and people-oriented team providing individual opportunity, personal satisfaction, and rewarding challenges to all members of the team. 14
  15. 15. Step 2: My Core Values 15
  16. 16. Step 2: My Core Values <ul><li>My Core Values Are: </li></ul><ul><li>______________________________ </li></ul><ul><li>______________________________ </li></ul><ul><li>______________________________ </li></ul><ul><li>______________________________ </li></ul>16
  17. 17. Step 3: The Past SITUATION ANALYSIS : To get where you want to go, you must understand where you have been.   A. Financial / Business Review:   1. How many transactions did you do in the past year? ____________   2. What were your gross commissions for the past year? ___________   3. What is your average commission per sale? ________________   4. How many of your clients were: Buyers? # _____ % _____ Sellers? # _____ % ______ (To calculate the percentages, divide the number of buyer or seller transactions by the total number of transactions completed.)   5. # of buyer agency contracts signed _____   6. How many buyers did you lose, and why? ___________________________________________________ 17
  18. 18. Step 3: The Past 7. # of buyers sold _____   8. Buyer conversion rate (divide buyers sold by total number of buyers you worked with) ______ %   9. # of listing presentations ______   10. # of listings taken ______   11. How many listings did you lose, and why? ______________________   12, # of listings sold ______ 13. % of listing presentations vs. listings sold (divide the listings sold by the number of listing presentations) ______ %   14. % of listings sold ______ (divide listings sold by number of listings taken) 18
  19. 19. Step 3: The Past <ul><li>Where do I get this information? </li></ul><ul><li>List of closings from your manager for the past 12 months </li></ul><ul><li>MLS </li></ul><ul><li>BrokerMetrics or other software your office uses </li></ul><ul><li>STARTING TODAY, WE WILL HAVE YOU DOCUMENT THIS INFORMATION ON EVERY CLOSING! </li></ul>19
  20. 20. Step 4: My Budget 20
  21. 21. Step 5: Know the Numbers   Now let us examine these numbers a little more closely.   1. My gross commission goal for this year is $ _____________ .   2. I will need to do _______ transactions this year in order to achieve my goal. (Divide your commission goal by the average commission per sale.)   3. I will need to complete ______ transactions per month. 4. I will need to complete ______ transactions per week.   5. This year, I will need to sell and close ______ listings. (Multiply Line 2 by the percentage of sellers you worked with last year.)     21
  22. 22. Step 5: Know the Numbers   6. This year, given my history of winning at the listing table, I must make ______ listing presentations. (Divide Line 5 by the percentage of listing presentations vs. listings sold.) 7. I will need to make _____ listing presentations per month.   8. I will need to make _____ listing presentations per week.   9. This year, given my history of listings sold, I will need to take _____ listings. (Divide Line 5 by the percentage of listings taken vs. listings sold.)      22
  23. 23. Step 5: Know the Numbers     10. I will need to sell _____ listings per week.   11. Given my history of working with buyers, I will need to close _____ buyers. (Multiply the percentage of buyers you worked with last year by the total number of transactions you need to do this year.) 12. Given my buyer conversion rate last year, I will have to work with _____ buyers this year. (Divide Line 11 by your buyer conversion rate.)       23
  24. 24. Step 6: Where Do I Get My Business?       B. Where Did My Business Come From?   How did you originate your buyers and sellers in the past year?   Buyer # Seller # Open Houses Sphere of Influence Referrals Past Clients Sign Calls   Personal Web Site   LeadStreet Curbside Connection   Social Networking Site Call Rotation Roster Referral from RE/MAX Prestige Referral from outside agency Realtor.com Direct Mail Ad Calls Other ______________         24
  25. 25. Step 7: Know Your Market <ul><li>      </li></ul><ul><li>Market Review: </li></ul><ul><li>  </li></ul><ul><li>Do you know your market? </li></ul><ul><li>How many households are in your market area / farm area? </li></ul><ul><li>  </li></ul><ul><li>3. How many transactions took place last year in this area? </li></ul><ul><li>  </li></ul><ul><li>4. How many agents are you competing with in this area (actually doing business)? </li></ul><ul><li>  </li></ul><ul><li>5. What companies/agents are your biggest competitors? </li></ul><ul><li>  </li></ul><ul><li>  </li></ul>25
  26. 26. Step 7: Know Your Market       Market Review:   6. What is your company’s market share vs. the competition?___________________________   7. Do you know what your competition leverages to attract buyers and sellers?_____________   8. What are the biggest impending changes or threats to your marketplace? _______________   9. What are the emerging opportunities in your marketplace? ___________________________   26
  27. 27. Step 7: Know Your Market       10. What three things will you do to improve your market knowledge, combat the competition, and take advantage of the emerging opportunities in your market?   A) ______________________________________   B) ______________________________________ C) ______________________________________   Will you do them? _______   27
  28. 28. Step 8: My Sellers 1. On average, how long do your listings take to sell? _____   2. Is this above or below the areas average? _________   3. Do you have a finely tuned listing presentation complete with marketing/action plan outlining your marketing, service, and communication plans? _______   4. Do you provide your sellers with a service guarantee? _______   5. Do you include in your listing presentations information about the power of RE/MAX and the exposure that it provides? _______   6. Do you have a checklist for listing appointments? _______   28
  29. 29. Step 8: My Sellers 7. Do you provide sellers with questions for interviewing other Realtors?_______   8. Do you have a full e-marketing strategy to provide maximum exposure for listings?________   9. Do you put all of your listings on Craigslist , Facebook , or other social networking sites? ________   10. When you take a listing, do you register the address as its own domain name and then post that domain name on a sign rider with the for sale sign?________   11. Do you enhance your listings on Realtor.com and RE/MAX.com ? _________   12. How do you promote your open houses? _____________________________________     29
  30. 30. Step 8: My Sellers 13. Do you advertise your open houses online/post them on REMAX.com? __________   14. Do you provide web commercials, slideshows, and virtual tours for every listing? _______ If not, why not? _____________________________________   15. Do you e-mail a web commercial of your listing to all of the top agents in your area? ________ If not, why not? _____________________________________   16. Do you include testimonials from past sellers in your listing presentation? ________ If not, why not? _____________________________________   17. What are the top three tools that you use to get the unfair advantage at the listing table? _____________________   ______________________________________________     30
  31. 31. Step 8: My Sellers 18. Do you try to generate spin-off business around your listings?_____ How? ______________________________________________ ______________________________________________   19. Do you survey your seller clients? ______ If not, why not? _____________________________________________   20. Do you send handwritten thank-you notes to your sellers after the listing appointment, after a contract is negotiated, and after the sale? _______ 21. Do you do a “pop-by” with a gift after a sale? ______   22. Do you ask your sellers for referrals? _____   23. Do you have a database of past sellers? _____         31
  32. 32. Step 8: My Sellers 24. What is your plan for keeping in touch with sellers after the sale and prospecting them for referrals? ________ ____________________________________________ 25. Are you consistent with these activities for every listing? _______   26. What are three things you could do to increase the number of your listings, listing/sales ratio, and spin-off business for next year? A)____________________________________________   B)____________________________________________   C)____________________________________________   Will you do them? ______         32
  33. 33. Step 8: My Sellers   27. What are three things that you should stop doing? A)____________________________________________   B)____________________________________________   C)____________________________________________ Will you stop doing them? _______       33
  34. 34. Step 9: My Buyers 1. Do you have a buyer’s presentation complete with services outline, etc.? _______   2. Do you include testimonials from past customers? ______   3. Do you include information about the process of buying a home and the costs involved? ______   4. Do you include a list of preferred ancillary service providers? _________   5. Do you belong to an ancillary services networking community? _________   6. Do you ask all of your buyer clients to sign a services contract? ________         34
  35. 35. Step 9: My Buyers 7. Do you provide a service guarantee to buyers? ________   8. Do you conduct a buyer consultation session for each buyer client? _______   9. Do you provide a buyer CMA when a buyer is considering putting an offer on a property?__________   10. Do you sign up all of your buyers to receive e-mail updates on new listings?________   11. Do you send buyers handwritten notes after you first meet with them, after they have successfully negotiated an offer, after all contingencies have been removed, and after the closing?_______   12. Do you send buyers handwritten notes of encouragement when their offer doesn’t go through? ______         35
  36. 36. Step 9: My Buyers 13. Do you create a web commercial of the buyer’s new home and e-mail it to them?________   14. Do you survey your buyers and ask for a testimonial? _____ If not, why not?___________________________   15. Do you offer to create change-of-address cards for your buyers with their pictures on the front and a testimonial about your service on the back?______________   16. Do you “pop by” your buyers in their new home and bring a small closing gift? _______   17. Do you ask your buyers for referrals?____________   18. Do you put all of your buyers in a database? _______          36
  37. 37. Step 9: My Buyers   19. How do you keep in constant contact with your buyer after the sale. and how do you prospect for referrals? ______________________________________________ ______________________________________________   20. What activities/campaigns were your best sources for new buyer clients?_______________________________ ______________________________________________   21. Have you created a profile of the type of buyers you most enjoy working with? _____________   22. How do you target-market that buyer group? _____________________________________ _____________________________________        37
  38. 38. Step 9: My Buyers   23. What are three things you could do better to attract and close buyers for next year?  A)______________________________________ B)______________________________________ C)______________________________________   Will you do them? _________   24. What are three things that you should stop doing?   A)______________________________________ B)______________________________________ C)______________________________________   Will you stop doing them? __________             38
  39. 39. Step 10: Personal Marketing   1. How much money did you spend on personal promotion last year? ___________________ What did you do? ________________________________ Did you get the return you expected? ________ Did you create a personal brochure on Design Center? _____   2. How much money did you spend on print advertising? ________________ Did you get the return you expected? ______ How much print advertising do you promise sellers in your listing presentation?_____________   3. Do you advertise testimonials, client survey results or your service package? _______ If not, why not? _______               39
  40. 40. Step 10: Personal Marketing 4. What are three things you could do to increase your success rate from your personal marketing, promotion, and advertising?   A)______________________________________ B)______________________________________ C)______________________________________ Will you do them? ____________   5. What are three things that you should stop doing? A)______________________________________ B)______________________________________ C)______________________________________ Will you stop doing them? _______               40
  41. 41. Step 11: Prospecting 1. Do you schedule set time / time block to actively prospect for new business?____________   2. How often do you prospect for new business? Daily___ Weekly___ Monthly___ Occasionally___ Are you consistent?____ Persistent?___ Determined?____   3. What percentage of your time do you spend prospecting for new business?_________ Is it enough?_______   4. Do you have short-term prospecting goals? _____   5. Do you have long-term prospecting goals? _____               41
  42. 42. Step 11: Prospecting 6. Which prospecting activities do you do most often? _______________________________________________ _______________________________________________   7. Are you satisfied with the results? ______   8. Which prospecting activities do you never do? ______________________________________________ Why? _________________________________________   9. How do you prospect for FSBOs?___________________   ______________________________________________ 10. How do you prospect for Expireds?_________________   _____________________________________________ 11. Do you use specific scripts for prospecting? _____                   42
  43. 43. Step 11: Prospecting 12. Do you have a system for staying in touch with past clients and prospecting them for referrals?_____ How often?_____ What methods do you use?________________________ ______________________________________________   Do you get enough business from past clients? ______   13. Do you have a system for staying in touch with and prospecting your Sphere of Influence? _______ How often?_____ What methods do you use?_______________________ _____________________________________________   Do you get enough business from your sphere? ______   14. What percentage of your business last year came from past client referrals and sphere of influence?________                     43
  44. 44. Step 11: Prospecting 15. How will you prospect to attract clients from generations X & Y? _______________________________________   16. How do you target minority groups? _______________ _____________________________________________   17. What three things can you do to improve your success in prospecting for new business? A)______________________________________ B)______________________________________ C)______________________________________ Will you do them? _______                     44
  45. 45. Step 11: Prospecting 18. What are three things that you should stop doing? A)______________________________________ B)______________________________________ C)______________________________________ Will you stop doing them? _______                       45
  46. 46. Step 12: Technology 1. Are you computer proficient? _________   2. Do you have a laptop computer and an air card? _______   3. Do you have contact management software?_________ Do you use it?_____________ Presentation software? _____________ Other software? _____________   4. Do you use e-mail and text for your business? ______   5. Do you use a RE/MAX or personally branded e-mail address for business? _____________   6. Do you use e-mail to prospect for new business? _______ What software do you use to send mass e-mails to top agents in the area, past clients, etc. ( TopProducer.com, ConstantContact.com, Delivra.com )? _____________                         46
  47. 47. Step 12: Technology 7. Do you have an electronic newsletter? ( RealtyTimes.com , Design Center ) _______   8. Do you have a smartphone? ______   9. Do you have a compelling personal website _______ What makes it compelling?_____________________   10. Is it targeted to both buyers and sellers?_________   11. Does your website have a niche?_______________   12. Does it have buyer and seller testimonials?_________   13. Does it have a lot of visitors?____ If not, why not? _______________________________________                           47
  48. 48. Step 12: Technology 14. Do you tell the world about your website? ______ How?___________________________________   15. Is your web address on all of your marketing, including your for sale signs? ____________   16. How quickly do you respond to Internet leads? ________   17. What systems do you have for managing and incubating these Internet leads?____________________________   18. Do you have a real estate blog? ( Realblogging.com , Blogger.com , Active Rain ) _________   19. Do you utilize social networking in your business?______ How? _________________________________________   20. Do your technology skills need improvement? ______                           48
  49. 49. Step 12: Technology 21. What three things could you do to improve your technology skills and the impact it gives you on the real estate industry?  A)______________________________________ B)______________________________________ C)______________________________________ Will you do them? _______   22. What are three things that you should stop doing?   A)______________________________________ B)______________________________________ C)______________________________________ Will you stop doing them? _______                           49
  50. 50. Step 12: General & Educational 1. What skills, upgrading, and educational opportunities did you take last year? _______________________________   2. How many RE/MAX events did you attend last year? ____   3. What designations did you achieve?__________________ _______________________   3. What professional educational/growth books did you read last year? ______________________________________   4. Have you recently upgraded your communication and/or human relations skills? ___________________________   5. How do you keep up with industry changes and innovations? ( RealtyTimes.com, RISMedia.com, Inmannews.com ) _______________________                             50
  51. 51. Step 12: General & Educational 6. How do you keep up with local industry laws and regulations? ___________________________________   7. Are you active with your local Board of Realtors? ______   8. How do you give back to your community? ____________ ______________________________________________   9. Did you set written goals last year? ______ Did you achieve them? ________   10. Did you work to a written schedule last year? ________   11. What was your biggest business challenge in the past year? _______________________________________ How did you overcome it?_____________________                       51
  52. 52. Step 12: General & Educational 12. What three things could you do to improve your general situation (market knowledge, financing, education, goal setting, etc.)? A)___________________________________________ B)___________________________________________  C)___________________________________________   Will you do them? ______   9. What are three things that you should stop doing? A)___________________________________________ B)___________________________________________  C)___________________________________________   Will you stop doing them? _______                           52
  53. 53. Step 13: Overview My major strengths are: 1)__________________________________________ 2)__________________________________________ 3)__________________________________________ 4)__________________________________________   My major weaknesses are: 1)__________________________________________ 2)__________________________________________ 3)__________________________________________ 4)__________________________________________   My greatest opportunities are: 1)__________________________________________ 2)__________________________________________ 3)__________________________________________ 4)__________________________________________                     53
  54. 54. Step 13: Overview Things I can do to improve are: 1)__________________________________________ 2)__________________________________________ 3)__________________________________________ 4)__________________________________________ 5)__________________________________________ Things I need to stop doing are: 1)__________________________________________ 2)__________________________________________ 3)__________________________________________ 4)__________________________________________ 5)__________________________________________                     54
  55. 55. Step 13: Overview                                             Remember, work to your strengths ● improve your weaknesses ● take advantage of your opportunities! And, work to your plan every day! 55
  56. 56. Step 14: My Objectives                                             List all of your objectives for the next twelve months. Then prioritize them . 1.   2.   3.   4.   5.   6.   56
  57. 57. Step 15: Monitor and Review                                             Review your action plan monthly! If necessary, amend your plan and get on with it!   A. THE BIG PICTURE Does my stated focus match the results of my activities and my overall business objectives for the year? _________   Do I need to make any adjustments? ______ If so, they are: ______________________________________________________________________________________________________________________________   B. ACTION PLAN Have I implemented all of the strategies on my Action Plan? ____   The adjustments I need to make are: ______________________________________ ______________________________________ ______________________________________ 57
  58. 58. Step 15: Monitor and Review                                             C. MANAGEMENT BY THE NUMBERS My analysis of my activities/results to date: __________________   My analysis of my expenses/profitability to date: _______________   Adjustments I need to make: ______________________________________________ ______________________________________________ ______________________________________________ ______________________________________________ 58
  59. 59. Step 15: Monitor and Review                                             Quarterly Review   Seller contracts completed:   Buyer contracts completed: Personal earnings: 1 st Q 2 nd Q 3 rd Q 4 th Q Goal/Actual Goal/Actual Goal/Actual Goal/Actual   First Quarter: YTD:   Second Quarter: YTD:   Third Quarter: YTD:   Fourth Quarter: Total for Year:     59
  60. 60. Step 15: Monitor and Review                                             How well you monitor your financial performance will directly affect your ability to successfully implement your business plan. Do not take this step lightly! Remember that successful businesspeople constantly monitor their progress and strive for maximum results!     60
  61. 61. Step 16: Track Leads Daily                                             61
  62. 62. Step 17: Prospect Daily                                             62
  63. 63. Thank You for Your Time!                                             62
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