Planning is key to success in the real estate business. Planning for success is actually the way you implement the goals you set.
Your plan for success is where you set your big goals, even your mission – 5 years, 10 years, or more out.
You may want to lose say 25 pounds, but that wish stays a wish until you develop a plan for the loss and put it into action. That plan might include figuring out how much and what you could eat every day and if you’re really serious, include exercise and perhaps a whole revamping of the way you eat.
It’s the plan that makes realizing the goal possible.
Take a look at your goals, and if you don’t have any written down now is the time to do so!
Suppose, for example, you want to make $2,000,000 next year. That’s your goal. Now how do you plan to do that? In this case your plan might include:
You get the idea. What you’re doing is setting the stage for real success as you plan how you’re going to get there.
Now you want to actually decide what steps are needed to make the number of cold calls. Using that as an example, at this stage you might mark the hour or two you plan to spend calling on your calendar so you don’t double book yourself. You also need to set rules for yourself, like allowing yourself to catch up if you miss a day.
What steps will you actually take to get the listings you want? Map them out. Schedule time on your calendar so you have time to take the steps you outline.
Explore who you want to work with – make a list, then make plans to call them and find out if they too are interested and if they are to discuss potential co-op deals. Then decide what steps you’ll take to land those deals.
In each instance, work your plan for a week or more and adjust as needed.
You need to write down your plan. You’ll probably want to include things like family time, big purchase items like a new car or even a new home, and schedule a vacation as well.
When you’re looking at money planning, don’t forget your savings plan for taxes and for your own safety net. It may be time to include a financial advisor in your plans and decide what sort of investment you want to do.
James Clear, in an article in Entrepreneur magazine called Forget Setting Goals. Focus on This Instead. Here he talks about forming habits and systems to make your goals and plans work.
It’s the plan you make for actualizing the goal that lets you both set up a system and form a habit to help you realize your goal.
He uses a writer who wants to get a book done as an example, pointing out that the daily writing schedule is what will get the book written. He strongly urges that we commit to the process rather than the goal.
He’s got a point. It could be that the switch in focus will make the whole notion of goal setting and planning more palatable.
What’s your experience with creating plans for success in real estate? Let’s talk about it in comments.
Before Anne Wayman became a writer she sold real estate in Southern California. She worked with her father who learned the business from his father. Not surprisingly she learned a few things along the way. Since then, she has been freelance writing for over 30 years – she is a grandmother, loves cats and writes about a wide variety of topics including real estate.