Don’t Forget the Most Important Part of Business Planning
Don’t Forget the Most Important Part of Business Planning…..
There is still time to put together (or refine) your business plan for 2009. But, don’t barge ahead and start putting numbers on paper—yet. If you do, you’ll miss the most important part of business planning (at least, in my opinion). That part is the Review.
Why? Because only by looking back can you make a great plan for the next year.
Analysis: From working with thousands of agents on their business plans, I’ve seen that most leave out the Review—and so don’t have much confidence in their future plans.
History Leaves Hints
Looking back will provide you an analysis in very important areas (and give you hints as to what to keep and what to dump). Here are four:
- Your best sources of ‘leads’ (you’ll do more lead generating from this source next year, won’t you?)
- Your ratio of listings taken to listings sold (you’ll put together a training/coaching strategy to learn how to get those listings priced right so you’re not spending so much time and money in futility, won’t you?)
- Your marketing strategy pay-offs (where did you spend money last year and what payoff did you get? You’ll spend more marketing money on the areas that gave you best payoff, won’t you?)
- The systems you have in place (you’ll decide which systems you need to get in place and those systems you need to refine so you can run a business, not just sell houses)
Note: If you would like a complimentary copy of the Business Planning Systems Review, please email me at www.carlacross.com. See how well you’ve organized your business with this checklist. Add needed systems to your plan of action. This is just one of the 14 analytical tools included in The Business Planning System for the Real Estate Professional.
Are you a manager? See The Business Planning System for the Real Estate Owner, Manager, and Team Builder at www.carlacross.com.
A Better Definition of a Business Plan
Why analyze your systems? Because Michael Gerber, the well-known small business guru and author of the famous books, The E-Myth and The E-Myth Revisited says that “The integration of your systems is your business plan.”
Creating a Business Plan the Easy Way
Now, you’ve already got your plan’s major strategies decided upon, and all you did was to review your business this year. Because you’ve seen what happened, you will have confidence that your future plan will work.
Advice for managers as agents’ business consultants: Sit down with each of your agents to review the important parts of their businesses. You’ll gain loyalty, create retention, and get your own ideas for a better-integrated office/agent business plan.
Carla Cross, CRB, MA, is a real estate leadership coach and speaker and is president of Carla Cross Seminars, Inc. and Carla Cross Coaching. She has just been named one of the 50 most influential women in real estate. Carla has authored six internationally published books on real estate sales and management, and ten systems. Carla’s management and sales systems are used by thousands of real estate professionals, and many are endorsed by CRS and CRB. Reach Carla at 425-392-6914 or www.carlacross.com.
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