I’m bullish on 2022 – in case you hadn’t noticed.
I’m predicting tons of opportunity for ambitious agents…
But to fully capitalize on it, you can’t just “wing it” and hope for the best.
You need a plan.
And that’s what today’s blog is all about. I want you to download our 2022 Business Plan and then return right back to this blog so I can walk you through it. That way, you’ll enter 2022 crystal clear about what you want to achieve, how you’ll achieve it, and how it will impact your life.
If you’re not yet in coaching, consider this your 2022 planning session.
Let’s get started!
Real Estate Business Plan Part A: Setting the Scene
Just want to make sure… you downloaded the plan and have it open, right?
The first section you’re looking at lays the foundation for what you want to achieve.
I strongly encourage you to give this some thought to put meaning behind your goals. Numbers alone aren’t likely to motivate you as much as writing out what more income could mean to your future, your long-term objectives, and your mission and values.
Complete this section to inject meaning and emotion into the goals you’re about to establish.
Part B: Looking Back & Looking Ahead
This is where your 2022 numbers really begin to take shape.
It’s always best to start by establishing what you’ve achieved this year to give yourself a benchmark for what you want to accomplish next year. What percentage of growth are you capable of in 2022? (Here’s my hint: Better to set your goals extremely high and fall just short than to set them too low and achieve them.)
We’ve provided room in this real estate business plan for you to get as granular as you like here, inputting transaction statistics from different lead sources or simply submitting your totals toward the bottom of the page.
Then when you continue to the “Activity and Ratios” portion of Part B, we’ll help you identify the number of conversations needed to achieve your goal. This is what I often call your “daily number.”
Nothing brings more clarity to your goals than knowing that daily number and living it. If I were you, I’d get that number up and visual any place you work or spend a lot of time… in your office, your home office, your car, your bathroom mirror. Make it part of who you are and your reason for existence.
Part B concludes with acknowledging that some people have definite “hot” and “cold” seasons in their business. We’ll help you plan accordingly in the “Predicted Seasonality” section.
Part C: How You’ll Get There
So far, you’ve established your daily number, but you need leads in order to be able to make those calls more productive, right?
So let’s talk lead generation. Part C helps you strategize each individual lead source you plan on using, including your marketing plan, follow-up plan, transactions goal and more.
This is where you want to lean into the data to determine what worked in 2021, what didn’t, what can be expanded, what should be scaled down or eliminated, etc.
The more clarity you build into your real estate business plan, the more systematized you can get with it. Ideally you should be able to hand this plan to an assistant or marketing coordinator and say, “All the marketing plans are here. Execute on it!”
Part D: Operationalizing Your Business
Many people overlook the impact operations can make on your business.
But to put it bluntly, you need more structure.
Operationalizing your business will help you become more effective and free you up for more important, dollar-productive aspects of your role.
If this part doesn’t come easy to you, keep track of where and how you’re spending your time over the course of a week or two. Then take a step back and see where you can be more efficient, what’s eating up too much time, and what can be handed off to others or automated.
Part E: SWOT Analysis
It’s always a good idea to “take inventory” of what you have to offer and what you need to work on.
This SWOT analysis worksheet will help you identify your strengths, weaknesses, opportunities, and any looming threats.
Once you’ve identified them, it’s time to figure out how to capitalize on your strengths and opportunities and how to minimize your weaknesses and threats. Maybe it means delegating tasks that aren’t in your wheelhouse so you have more time to concentrate on your strengths.
Build your answers into your business plan.
Part F: The Quest for Personal Fulfillment
If you’re killing it in business but your life is a wreck, what’s the point?
Part F asks you to rate yourself in the 8 equities of life – wealth, health, family, career, travel, contribution, relationships, and your social life.
Take stock of where you’re at, and then set goals for where you want to be by the end of 2022… and ideally, five or 10 years down the road as well. Then identify what needs to change to achieve those goals.
Why’d we make this part of your real estate business plan? Because you work very hard for what you earn. I want you to live the truly fulfilling life you deserve. Let’s make it happen!
Real Estate Business Plan Addendum: Expenses & Financial Management for Wealth Building
We’ve included worksheets to help you better manage your money, allocate your income, anticipate your personal and business expenses and more.
These will help you maintain a budget, manage your debts, and make smart decisions to build the wealth you deserve.
Real Estate Business Planning Session Over: Here’s to Massive Success in 2022!
Working your way through the business plan is the first step to massive success in 2022.
The next step is committing to your plan and identifying how you’ll stick to it… even when the going gets tough.
To achieve your lofty goals, I strongly encourage you to find an accountability partner, whether it’s one of our coaches, a broker or manager, a colleague, a trusted friend… someone.
If you have any questions, leave them in the comments below!
I can’t wait to see what you create in 2022! Let’s make it your best year ever!