Real Estate Business Planning For 2008
What you do at the START of your year determines how it will end!
As I’ve said many times, one of the great joys of my association with my CyberStars(tm) is that I learn from them. All sorts of things are discussed on our private list serve, at our annual CyberStar(tm) Summit and during our informal meetings at conventions.
During the last quarter of 2007, they began sharing with each other what they were doing to plan their business for 2008. Hopefully, you, too, have a viable business plan for 2008.
It should start, of course, with an analysis of 2007:
- What was your net income for 2007?
- How many listing appoints did you go on vs. how many listing you got?
- What was your ratio of "buyers" worked with to closings?
- What was your average sale/listing price?
- What was your expense breakdown for the year?
There are many other ways in which you should have analyzed last year, and there are many good sites on the Web that will help you with business planning. SCORE (Senior Core of Retired Executives) has some of the best guides I’ve seen as well as personal counseling, budeting, running a profitable business and more.
The CyberStars(tm) are making adjustments in this year’s business plan based on their current market and on their performance during 2007.
In addition to the purely business aspects of their plan, I was struck by the number of them who looked at their personal growth during the coming year. This comment, by CyberStar(tm) Linda DeVlieg of Coldwell Banker Legacy, Albuquerque, NM. struck me as typical of most CyberStars(tm) when it comes to putting balance into their planning:
"I plan to have a few days which I will refer to as ‘Timothy Leary Days’. I ‘m going to simply drop out once in a while; of course I will tell my team agents, but these will be days that I choose not to think about real estate, not to check into things, or even care. Too often I am constantly running with the "ON" switch, and it’s so much nicer to drop out once in a while.
This is another thing that I have noticed over the last year: this never seems to make a negative difference in the scheme of things."
I totally agree with Linda, and I leave you with this question: what are you planning to do during 2008 in order to bring more balance to your life?
It’s a beautiful (cold!) night here on the lake in Reston…hope it’s a great day/evening wherever you are, too!
You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
