Why Do A Business Plan Rea 2010


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NOW is the time to start planning where you want to take your business in 2010. I offer a "plug and play" training program for loan officers and real estate agents that starts with WHY. Part II is HOW!

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  • Business by Accident????
  • Why Do A Business Plan Rea 2010

    1. 1. Business Plans Where to start? How to get started? And keeping on track! Goals & Objectives Accountability values & vision
    2. 2. Do you consider this YOUR business? <ul><li>If you have control over your accounts, clients, contacts, income, you SHOULD! </li></ul><ul><li>Some companies provide you with tools and training to aid in your success, but the actual success of your business is up to you! </li></ul><ul><li>AND you need a plan to maximize success! </li></ul>
    3. 3. Been successful without a plan? <ul><li>How do you know? </li></ul><ul><li>What might you have done WITH a plan? </li></ul><ul><li>When will you plateau? Or, worse? </li></ul><ul><li>Even if YOU don’t burn out due to lack of systems - what about your support staff? </li></ul><ul><li>Are you an example of “Business by Accident”? </li></ul>
    4. 4. Facts and Stats <ul><li>“ I don’t need to write it down. I have it in my head!” </li></ul><ul><li>3% of the world write down goals or plans. </li></ul><ul><li>Yet, 8 out of 10 are accomplished if they are written. </li></ul><ul><li>Why? If it doesn’t work on paper, it probably won’t work in the real world. </li></ul><ul><li>Why wouldn’t you write them down??? </li></ul>
    5. 5. Subliminal Reasoning (aka: excuses) <ul><li>Not feeling in control of an unfamiliar task </li></ul><ul><li>Fear of doing it “wrong” </li></ul><ul><li>Aversion to doing anything that does not derive immediate results </li></ul><ul><ul><li>It’s easier to: work on this appraisal issue, do a CMA, talk to my loan officer, follow up on …. </li></ul></ul><ul><ul><li>“ People who fail to plan, plan to fail.” </li></ul></ul>
    6. 6. According to Research <ul><li>People that use goal setting and planning effectively: </li></ul><ul><li>Suffer less from stress & anxiety </li></ul><ul><li>Concentrate better </li></ul><ul><li>Show more self confidence </li></ul><ul><li>Perform better </li></ul><ul><li>Are happier and more satisfied </li></ul><ul><li>*Research by Damon Burton </li></ul>
    7. 7. Okay. Okay. Where do I start? <ul><li>You’ve already taken the hardest step! Simply making the decision to give it your time and attention! </li></ul><ul><li>Honestly assess your current position. </li></ul><ul><ul><li>SWOT: strengths, weaknesses, opportunities and threats. AND those of your competition. </li></ul></ul><ul><li>Stuck already? I have a document to help you with that piece of the puzzle. </li></ul>Prelim BP
    8. 8. Basic Components of a Plan <ul><li>Values, Mission and Vision </li></ul><ul><ul><li>Keeps you on track with who you are and what you want to become known as. </li></ul></ul><ul><li>Goals, Objectives, Action Plans </li></ul><ul><ul><li>Goals are the what. Objectives are the how. Action Plans are the scheduled implementation strategies. </li></ul></ul><ul><li>SWOT Analysis </li></ul><ul><ul><li>Strengths, Weaknesses, Opportunities, Threats </li></ul></ul><ul><li>Resources & Budget </li></ul>
    9. 9. Targeting Goals <ul><li>Use the 2 question “Goals Grid” to identify those worth keeping: </li></ul><ul><ul><ul><li>Do I already have it? </li></ul></ul></ul><ul><ul><ul><li>Do I really want it? </li></ul></ul></ul><ul><li>Goals should be: </li></ul><ul><ul><ul><li>written </li></ul></ul></ul><ul><ul><ul><li>believable </li></ul></ul></ul><ul><ul><ul><li>specific </li></ul></ul></ul><ul><ul><ul><li>measurable </li></ul></ul></ul><ul><ul><ul><li>have a deadline </li></ul></ul></ul>
    10. 10. Example: Production Goal <ul><li>I want to be the number one agent in Colorado! </li></ul><ul><li>Even though written, would not be specific, measurable </li></ul><ul><li>I want to close $20,000,000 between Jan 1, 2010 and December 31st, 2010. </li></ul><ul><li>Now, don’t forget: it’s got to be believable </li></ul><ul><li>Here’s where the next piece of the puzzle comes in handy. </li></ul>Proj vs budget
    11. 11. Goals vs. Objectives & Tasks <ul><li>Goal: $20m next year? Is it believable? </li></ul><ul><li>Prove it (to yourself) with Objectives: </li></ul><ul><ul><li>In order to accomplish this, I intend to </li></ul></ul><ul><ul><ul><li>cultivate new listings (list, compare, +%) </li></ul></ul></ul><ul><ul><ul><li>create X# new relationships by (detail, timeline) </li></ul></ul></ul><ul><ul><ul><li>mine expireds, FSBOs, (growth charts help) </li></ul></ul></ul><ul><ul><ul><li>set timelines, amounts, compare apps to close ratio, total. </li></ul></ul></ul><ul><li>Now define your tasks . # of calls; e-mails, drip, </li></ul><ul><ul><ul><li>This is the one part of a business plan you actually have control over. It’s also the part that is most likely ignored! </li></ul></ul></ul>
    12. 12. At a Glance: <ul><li>Goals: The WHAT ($20 mill) </li></ul><ul><li>Objectives: The HOW (Acquire Clients) </li></ul><ul><li>Tasks: The ACTION ! (Make Calls) </li></ul><ul><li>Suggestion: List only one goal with associated objectives and tasks per sheet. Makes review & revision of goals easier. </li></ul><ul><li>Then move tasks to your calendar during monthly review. </li></ul>
    13. 13. Did he say REVIEW? <ul><li>That’s right - review! </li></ul><ul><li>Tasks need to be reviewed weekly, if not daily. </li></ul><ul><li>Objectives need to be reviewed monthly, if not weekly. </li></ul><ul><li>Goals need to be reviewed quarterly, if not monthly! </li></ul><ul><li>An Accountability Partner helps keep you on track. </li></ul><ul><li>But, you don’t want to be each other’s partner. Too easy to let each other slip. Plus, you’ll want to constantly be exposed and expose new accountability concepts & ideas. </li></ul>
    14. 14. GOALS, OBJECTIVES, ACTION! <ul><li>If you decide you’re overwhelmed, you have two choices: </li></ul><ul><ul><li>Just focus on your goals! </li></ul></ul><ul><li>Or… </li></ul><ul><ul><li>Use the format developed to help with that piece of the puzzle, too! </li></ul></ul>BP Template
    15. 15. You’ve now got all the pieces! Current Analysis Projection vs Actual Comparison Business Plan Format Monthly Accountability My 2010 Business Plan