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Have You Prepared Your Commercial Real Estate Business Plan for 2014?

By Jim Gillespie | January 7, 2014

This is the week when people begin really making the transition back into the real world. This is the first full work week after the Holiday Season, and the brand new year is now fully upon us.

So have you set your goals and a game plan that will have you accomplish those goals for the year? If not, you’re risking getting into the new year totally flying by the seat of your pants, and you’re risking feeling busy but being unproductive during the year.

With this in mind, here are some simple guidelines for designing a basic business plan for the year, and if you’ve already designed a business plan, these guidelines will help to serve as a check on the business plan that you’ve already designed.

1) Set your income goal for the year.

2) Design your business plan, describing specifically what you believe you need to do to accomplish your income goal for the year.

For example, how much prospecting do you need to be doing every single week? How often should you be mailing to all of the clients and prospects that you want to be working with during the year? How many face-to-face appointments and/or presentations should you be scheduling every week? How many lunches should you be taking with your clients and prospects every month? How many gifts should you be sending to your clients during the year, to solidify your relationship with them and help to ensure that you’ll be representing them again on their next transaction?

Also include any additional activities that you believe you need to be doing throughout the year, in order to achieve your income goal.

3) Set an alarm to alert you once every month within your contact management program, to tell you it’s time to now check in and make sure that you’ve been working your business plan.

When brokers design a business plan and then they don’t hit their income goal for the year, it’s usually not because the business plan wouldn’t have worked. It’s usually because the broker got off track from working their business plan during the year.

When you check in with yourself once a month, this helps to ensure that you’re working your business plan, and it helps to ensure that you’ll end up hitting your income goal for the year.

So if you haven’t yet designed a business plan for the new year, you can design one by utilizing the guidelines I’ve mentioned.

Keeping this in mind, it’s much easier to arrive at your desired destination, when you’re always following the directions that you know will get you there.

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