Making a business plan

As we near the end of the 2013, (I cannot believe how fast this year has went!), we should all be looking to set out our goals and objectives for the year ahead.

Looking ahead gives us goals to aspire to and benchmarks to judge our performance against. Each and every one of us, (“us” being REALTORS® or any independent contractors or entrepreneurs), are accountable for our business and therefore we should continuously step back and take a look at our business model to see if it needs to be reshaped, reformed or completely overhauled.

Realtor Mag sets out a great guideline for what should be included in your Business Plan such as:

1-    Complete a Simple Plan

  1. What you want your real estate career to do for you next year
  2. Why is it important
  3. Set Measurable goals
  4. How will you measure these goals
  5. Time to Assess these goals

2-    Reduce Key Prices

  1. Build weekly benchmarks or goals (ex: building your own website)

3-    Create a schedule to assess your progress with these goals

4-    Schedule time to review your business plan

5-    Numbers Conscious

  1. Sales / Listing Targets
  2. Reassess often with market statistics

To this I would add to make sure your business plan includes budgets and plans for marketing, volunteering opportunities, personal goals, (vacations, networking, etc) and continuing education.

Adding all of this into your business plan will give you a nice outlook at 2014 and will make you more accountable to yourself, your clients and your brokerage.

Happy Planning!

Jennifer Aunger, OREA YPN Committee member & Guest Blogger

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Making a business plan