Are you set for 2017? If you’re not, this simple business plan can be tackled quickly and will keep you on track when referenced throughout the year.
A Business Plan does not need to be complicated. It does, however, need to be something you look at periodically – whether that’s daily, weekly, monthly or quarterly – to check to see if you are on or off track. Writing a business plan, whether simple or complicated, does no one any good if it’s not looked at ever again.
To help with that, I suggest a simple plan that will keep you focused. I also suggest you write it down. If it’s not written down it’s likely not going to help you or happen.
To keep it simple, try a one-page business plan that can organize everything you want to accomplish in a year. It’s follows a 1-3-5 format: with one main measurable goal; three priorities to focus on that will help you achieve the goal; and five strategies that you can do to achieve your priorities.
TIP: Keep it visible and refer to it often. Put it on your office wall, under a transparent cover on your desk, as the cover of your notebook or as the background wallpaper on your computer.
To create your One-Page Business Plan:
1. Determine Your 1 Main Goal
Start by having a specific and measurable goal. For example, a realtor might have a goal based on number of ends, number of properties sold, total sales volume, gross commission income (GCI) or maybe net income. It is important that the main goal has a numeric value associated with it. This way it can be broken down into monthly, weekly, and daily portions for measuring your progress throughout the year. For example, a realtor wants to sell 48 homes in a year knows that they must sell four homes a month, or close to one property a week.
2. Establish 3 Priorities to Reach the Main Goal
For a business plan to be effective, it must be focused. Establish three priority areas that will help you achieve your goal. The priorities should be tasks that require a lot of work and maybe even help from others. Your priorities are the big tasks that are always looming in the back of your mind that never seem to get done. Examples might include creating a new website, setting up a database contact system (contact me to discuss some effective contact plans that you could consider), developing a lead generation system, or maybe even hiring an assistant or a buyers’ agent.
3. Plan 5 Strategies for Each Priority
Plan five manageable strategies designed to accomplish each of your three priorities. Each strategy should represent a specific action step that is in alignment with its corresponding priority. The key to developing effective strategies is to think of things you need to do accomplish each priority. Without this you will just have a scattered to-do list that is unlikely to ever be completed since it is not focused on the accomplishment of your single goal.
If you want to discuss this further, or if there’s anything I can do to help you achieve your goals next year, please contact me. I’d love to discuss over a coffee.
Example One Page Real Estate Business Plan:
Co-written with Martin Breeze, Mortgage Broker, TMG The Mortgage Group
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