If you’re looking to take your business to the next level in 2022, you need a plan. This plan doesn’t need to be perfect, and it’s certainly allowed to change over time, but without a plan to execute, you’ll never reach your full potential. If you don’t make a plan, you may as well plan to fail—or at least come up short on your goals for 2022.
It’s necessary to complete a business plan each year to help drive the direction of your business not only for the upcoming year, but also several years down the road. Real estate runs with a 60- to 90-day lead time, and so should your business plan. Start working on your plan before the year ends to allow time to make adjustments so that you’re taking full advantage of the entire year and not missing the first couple of months trying to figure out what you want to accomplish.
Your business plan should include measurable goals you can definitively check off as completed. The difference between “I want to grow my team and make more money” and “I want to add three buyer’s agents and a marketing director to my team and earn $500K GCI” is huge. The more specific you are, the better your chances of making real improvements.
Also, these goals should not be limited to one-year goals. The business plan is your guide, not only to the goals for the next year, but several years moving forward. A five-year goal is critical in making sure progress is made toward a bigger picture. Thinking this far ahead allows you to plan the necessary steps you need to take now in order to keep driving growth.
One-year business goals should be carefully thought out and planned. Here are a few questions you should ask yourself about your goals:
- Why do I want to accomplish this goal?
- What needs to happen for this goal to be accomplished?
- What are some possible excuses to come up short on my goals?
- How do I overcome those excuses?
If you haven’t started your business plan yet, don’t fret. There’s still time. Remember to dream big. If your goals don’t scare you, they’re not big enough. Challenge yourself to dream bigger, then break your plan into smaller, manageable steps to keep you moving forward. The more details the better. If you do this, you’ll be on your way to making next year the best year yet.
Reed Martin is a senior coach with Workman Success Systems and team leader of the Reed Estate Group at RE/MAX FIRST servicing the Louisville, Kentucky, and southern Indiana markets. Contact him at Reed@WorkmanSuccessSystems.com.