A business plan will be hard to implement unless it is simple, specific, realistic and complete. In addition, a good business plan requires tracking, follow up and follow through. The key ingredient is commitment to the successful implementation of your plan.

Sample Plans from http://bPlans.com :

Real Estate Brokerage -

<http://www.bplans.com/spv/3225/index.cfm?affiliate=pas>

Property Management -

<http://www.bplans.com/spv/3183/index.cfm?affiliate=pas>

The Power of personal commitment:

Until one is committed

There is hesitancy, the chance to draw back, Always ineffectiveness.

Concerning all acts of initiative and creation There is one elementary truth, The ignorance of which kills countless ideas And splendid plans:

That the moment one commits oneself,

Then providence moves too.

All sorts of things occur to help one

That would otherwise never have occurred.

A whole stream of events issues from the decision,

Raising in one's favor all manner

Of unforeseen incidents and meetings

And material assistance

Which no man could have dreamt

Would have come his way.

I have learned a deep respect

For one of Goethe's couplets:

"Whatever you can do, or dream you can - begin it.

Boldness has genius, power, and magic in it".

W.N. Murray

The Scottish Himalayan Expedition, 1951

Saul

Real estate professionals need to create a business plan. In addition, conducting business reviews will help you determine if you are "on plan."

As your business matures, your business plan will change. Your business plan should move you toward your business goals and your business goals will change for your business based on previous year's achievement and whether or not you are growing your business, maintaining your business, or preparing for retirement from your business. Your business goals should help you achieve your life goals...there needs to be consistency. Again, reviewing each year is very helpful. I had a partner in my real estate business and each year we shared our personal goals with each other as we prepared our company's business plan.

I am looking for information for an association on how to write a business plan for the real estate sales business. I thought we could take all the ideas we can come up with from this List and eProTalk, consolidate all of them, and then create an auto responder for anyone who wants the compilation.

Remember, YOU ARE A BUSINESS.

Here is some information to get the conversation going (with assistance from

http://bPlans.com):

A business plan is any plan helps a business look ahead, allocate resources, focus on key points, prepare for problems and opportunities, and achieve clearly defined goals and objectives. Many people think of business plans only for starting a new business. A business plan is also vital for running a business. Businesses need plans to optimize growth and development according to priorities. You establish the priorities as the owner of your real estate business

Start up business plan

A simple start-up plan includes a summary, mission statement, keys to success, market analysis, and break-even analysis.

Cash flow is vital to a business. Cash is often misunderstood as profit, and they are different. Profits don't guarantee cash in the bank. Lots of profitable companies go under because of cash flow problems.

Implementation details are what make things happen. Your brilliant strategies and beautifully formatted planning documents are just theory unless you assign responsibilities, with dates and budgets, follow up with those responsible, and track results. Business plans are really about getting results and improving your company.

So have at it...suggestions please. If you are willing to share your business plan, please e-mail it to me and I will make it available to everyone, by auto responder and maybe also on my blog.

Saul

Saul@SaulKlein.com

-

Saul posts:

>>

You threw in a few extra elements Lenn...which online lead generators use MLS data to attract leads? How do they get that data?

<<

Who can't believe this question from Saul! Uh.....Saul,

let me step in here and answer that one for you - THE ANSWER IS ALL OF THEM. Realtor.com, HomeGain, ServiceMagic, and the next one will be Lowes with their new 10% offer. Like Jim Lee, I've played around with R.com (and many others) with an alias email address, and now get tons of spam trying to get my business through that email address. Same thing with HomeGain, SM and I'm sure all of the others.

If you run an ad in Homes and Land magazine, Harmon Homes, or your local paper, they ALL have online versions they sell banner advertising on to make more money, and they all offer up our leads as icing on the cake, phone numbers, email addresses, the promise of a mailing list to make someone money. What Lenn was alluding to below is that IF I pay for an ad in the paper or a magazine, or anywhere, that information should not be sold to anyone else. The leads should be mine, because I paid for that privilege.

What in the hell is the world coming to where someone doesn't understand the simple business practice of ethics and playing fair? I'll tell you what I did......I used an alias to run my most recent ads. It was under the psedomym of Dr. P. Beene - well guess what? I now get tons of spam, direct mail as well as phone calls all in the name of (yep you guessed it!) Doctor P. Beene.

It is time to take a stand to gain our industry back. I for one think it was a mistake to put our info on the internet for all to see, but hey, that was NAR working hard for our dues and Realtor.com a.k.a. Rip 'em off.com. Once we gave up our inventory, we now have to deal with the consequences, and it ain't a pretty sight. What

would happen if Doctors gave free x-RAYS? FREE rescriptions?

CPA's did free tax returns? The bottom line is this: WHY BUY THE COW WHEN YOU CAN GET THE MILK FREE?

It is like being in war, you have choices: Charge head on into battle, guns cocked and ready or fall back and take cover. I for one, am not the 'fall back' kinda person. I prefer to charge full on, weapons ready, take my chances and I will slit your throat or shoot you dead if you don't answer my questions immediately. I don't have a lot of patience or tolerance, I am well trained and know what I'm doing....you are either WITH me or you are against me. On the other hand, there are those that prefer to take the "wait and see" (fall back) approach.... Want

3 guesses as to where they are all working right now?

Paula Bean

Orlando, FL

Saul's note:

Paula...never be surprised by my questions...only my answers.

I often ask questions to generate thought because in some cases I find that people's responses are tied to emotion and not fact...that often people respond without checking the facts first. In some cases, I actually know the answers to the questions I offer for consideration ;-)

If you examine the aggregators you mention specifically, you will find that the information is provided by REALTORS or organizations controlled by REALTORS. This is an important concept. It is not stolen data, it is freely provided by those entitled to the data.

You say that since you pay to put an ad in the paper, you are entitled to the leads. I agree...AND...how much do REALTORS pay to put their ads on the Internet?

Would you be willing to pay to place your ads on the Internet? If no, why not? You (the generic you) seem to expect all the benefits that come from the infrastructure and exposure created by these Internet companies, at no cost. You say but my content is valuable...but how valuable is it if no revenue can be generated from the content?

If REALTORS paid for the Internet ad then they should be entitled to the lead, but what about the free ads? And don't tell me that your MLS/Local Association or NAR should pay for it...you want advertising, you should pay for it, and then you should be entitled to the results of that advertising (and in many cases with advertising, you are entitled to nothing because sometimes advertising produces nothing. "I know half the money I spend on advertising is wasted, but I can never find out which half."

... John Wanamaker)

As for the spam you mention you received when you put your e-mail address on an aggregator web site, I would say the reason for that is that spammers are harvesting the web site and not because the aggregator sold the e-mail addresses. Pretty common practice for spammers. Are there things people can do to reduce spam...sure, but often at a cost and of course everyone wants everything for free (this is a topic for another conversation).

10 years ago we talked about "Paradigm Shifts."

Today, we are seeing the manifestation of a paradigm shift in the real estate industry. It is the application of technology in the home purchase process.

Think about it...Home searches online, transaction platforms, web based MLS, IDX and VOW...limited service brokerage models, DOJ intrusion and more. The change agent is technology and a population more inclined to utilize the technology in an infrequent transaction (the purchase and sale of a home). It started (as predicted by Bill Gates in his book The Road Ahead) with high turnover products like books and it is moving to real estate, and all the signs are there and have been for sometime now. We are also beginning to see that Alvin Toffler was right when he said that "information is the currency of the 21st Century."

Instead of complaining about how we are being taken advantage of, it is time to ask the "Paradigm Shift Questions." We really need to step out into the future to prepare for the future. You cannot prepare for the future from the present.

Paradigm Shift Question 1:

What is currently possible to do in your business, and if it were impossible, it would fundamentally change the way you do business?

The following are questions, not positions.

Proposed Answer 1:

Currently possible: Commissions as a percentage of sale price.

What if that were impossible? Would it change the industry, and would that then change the business of real estate associations?

Proposed Answer 2:

Currently Possible: Free Advertising of listings on the Internet.

What if that were impossible.

Proposed Answered 3:

Currently Possible: Control over MLS Data

What if it were not?

How about Yahoo...Yahoo is an aggregator. Go to http://Yahoo.com and click on Real Estate. After you notice that Yahoo advertises Lending Tree and FSBO sites, type in your city or community and see to what web site you are directed.

Paradigm Shift Question 2: Opposite of Question 1 What is currently impossible to do in your business, and if it were possible, it would fundamentally change the way you do business?

Banks in real estate

Agents as employees

Employment and compensation structures based on work done and not a percentage of the sale price

As Joel Barker, in his book Future Edge, said..."When a paradigm shifts, everyone goes back to zero...your past success guarantees nothing when a paradigm shifts."

JB also said that most Paradigm Shifts are created by outsiders because they have nothing to lose.

I had the great priviledge of spending time with Billy Chee in the mid 1990s, actually discussing the industry and its future...over sushi, shrimp, and at a number of different gatherings over a 2 year period. He saw clearer than anyone at that time, I think, what was coming. The famous line from his Lion over the hill speech has never been more on target than it is today...For those of you who were not around or who may not remember it, it went something like:

"The lion is coming over the hill...and REALTORS are like a bunch of Chihuahuas arguing over a bone."

A good market hides problems...How are you preparing for the future? Get ready folks...we are just seing the tip of the iceberg.

Saul