2020 A New Year…A New Decade…A New Recipe for Success
“Planning without action if futile, action without planning is fatal.” – Cornelius Fichtner
As we turn the page not only to a new year, but to an entirely new decade, there has never been a more exciting time to look at our business, analyze where it currently stands and find ways to push it to levels of success. For some, this can be a daunting task, but for others, it’s something we look forward to. Regardless of which camp you’re in, we’ve broken down the business planning process into 5 simple steps so that anyone can do it. In these steps, we’ve also included specific execution steps to be sure you stay on track to hit your plan throughout the year. In other words, we’ve done all the heavy work, you just need to plug in your information.
Step 1: Business Plan
Put in writing what you want your business to look like at the end of 2020. It has been proven that those who write down their goals verses those who just speak about them have an 82% higher chance of achieving those goals. We’ve updated the United Country Business Plan template to a 2020 format. It is a very simple step-by-step process that should take less than an hour to complete.
Agent Business Plan:
Step 2: Income Calculator
Once you have your goals down, you can use this simple spreadsheet to plug in your numbers to see how you can make the money that you want to make and the different levers you can pull to achieve the success you desire. This is a very straight forward plug and play document that allows you to customize your income to your market regardless of how big or small you might be.
Office Income Calculator or Agent Income Calculator
Step 3: Marketing Plan
Now that you have your goals in place, it’s important to apply action items or specific marketing initiatives that will allow your goals to become a reality. The beautiful thing about a marketing plan is that there is not a “one size fits all” plan that you must follow. For example: one person might find cold-calling and door-knocking as the most effective way to build their business, while someone else, might want to do consistent mailings to specific neighborhoods or land owners throughout the year. Both paths can prove to be successful if followed consistently. The key is to develop a well-thought through marketing plan that can be executed throughout the year and track those results so that you know you are on track to hit your plan. We have built a series of templated marketing plans, including estimated budgets, for you to follow. Depending on where you are with your business, you can chose a 101, 201 or 301 plan. Pick the plan and the budget that best suits your business and then track it.
Basic 101 Plan:
Intermediate 201 Plan:
Advanced 301 Plan:
Step 4: BAT Business Activity Tracker
This is a new program that United Country introduced last year that we highly encourage every broker and every agent in the network to implement. The BAT is a month-by-month guide that tacks your activities to hold you accountable to do the things you said you were going to do. Think about a FitBit or some other smart watch. When we buy those devices, it starts with the standard benchmark to get 10,000 steps in every day. Why do we care that the little device on our wrist gives us a congratulatory ping or vibration when we hit our 10,000 steps for the day? Do we get a new car or a trophy or some other monetary reward for hitting that mark? Of course not. The 10,000 steps is simply a tracker to let us know that we are on-pace to the healthier lifestyle that we desire. The same thing applies with our business. The BAT ensures us that we are tracking our efforts to achieve our plan. Many offices have used the BAT as a standard part of their office meetings to be sure everyone hold each other accountable to what the team set out for a goal for the year. This is a very powerful tool that can make significant impact to your business.
Step 5: Financial Control Center
The final piece of this 5-step process is to be sure your bottom line is as healthy as your top line. Those that have been in this industry for a while know that we are pretty good at making money, but we are also notoriously good at spending money. The Financial Control Center will provide you a good resource to compare how much you are spending and making vs the standard that other offices are in the United Country system are. We have a goal to keep a 17%+ profitability in your business and this guide will help you achieve that mark.
Financial Control Center
While there is no guarantee in any business, and the real estate industry is no different, if you follow these 5 simple steps, you will have the perfect recipe for a high level of success in the new decade that awaits. If you have any questions or challenges with any of the documents mentioned above, please reach out to your dedicated business consultant and they will be happy to work through it with you.