Gain Traction in Your Real Estate Business
At Real Estate B-School we define traction as the ability to consistently move your business forward over time. However, the question of ‘how do I gain traction in my real estate business’ is one we get all the time.
To achieve traction in your business you must establish your vision. With the vision established in your business, you will be able to more easily realize your priorities and create sustainability. This is done through establishing a structure for your business that includes creating a 3-year, 1-year, and 90-day plan.
Create a 3-Year Real Estate Business Plan
A 3-year plan might seem like an audacious goal, however, it is extremely practical and not as hard as you might think. When you envision your real estate business in the future, what does it look like?
Break down a detailed picture for yourself and answer important questions that would relate to your overall success. How many homes are you selling annually? How many people are on your team? What kind of hours do you want to be working in your business?
Once you’ve established your vision, assign measurable outcomes to your goals. What do your sales number look like? How many buyers agents do you have? Exactly how many hours do you want to be working?
Now, what needs to happen to achieve that vision. Will you need more people on your team? Will you need to let some of them go? Will you need to grow your sphere of influence?
Spend some time here establishing your vision and your measurable goals to accompany that vision. Then document them in your 3-year plan and assign a due date 3 years from today. A plan is just a plan until you put action behind it.
Create a 1-Year real Estate Business Plan
When you’re creating your 1-year plan you are going to work backward from your 3-year plan. For example, if you want to sell 300 homes in 3 years and you currently only sell 100, what will you need to do this year to set yourself up for that success in the upcoming years?
What you do today will make a difference. You need to know what your target is, so, create a list of 5 measurable goals that would set you up to achieve your 3-year plan. Set a due date (one-year from today maybe) and get to work!
Create Your 90-Day Real Estate Business Plan
Once you have your one year plan in place you need to create checkpoints along your journey to make sure you’re on track. Create 3-5 measurable goals you’re going to hit in the next 90 days that would make progress on your one-year goals. Set your due date for 90 days out and then create a cadence to regularly review these goals.
At Real Estate B-School we recommend that you review these weekly through small bite-sized chunks. Report to yourself and your team if your goals are on track to be complete and ask for help where appropriate.
It’s not January anymore, but you can set these goals at any point in the year. So carve out time in your schedule, maybe 2 or 3 hours, and get clarity on where you want your business to go in the next 90-days, 1-year, and 3-years!
Are you ready to get even more serious about your goals in 2018? Join us March 5-6 in San Diego, CA for our Spring Intensive workshop. We will be sharing the Marketing Playbook that has grown Lars’s business from 0 – 8 figures in just 10 years! Register now and get $200 off until February 12th!