The absence of a business plan is cited as one of the major reasons why businesses fail. In our industry, it is a major reason why there are such a high percentage of early exits, frustrating stagnation in personal productivity and, at times, a disheartening return on an agent’s long hours and hard work. In the development of a meaningful and effective business plan, the current reality cannot be limited to the “what” did I achieve but it’s imperative that it’s accompanied by answers to “how” did I get it done?
The “drill down” is all about getting to the bottom of the HOW. No one knows better than you how much time, skill, knowledge and effort you apply to keep a deal together and into a successful transaction. So give yourself a self-appreciation pat on the back and then ask how was this business generated?
On a sheet of paper make two columns. The first column will identify the completed transaction and which side(s) you controlled – Buyer or Seller. If both, list them separately. Next, maintaining factual integrity, use the second column to classify the procuring cause of how you got that Buyer or Seller with either an L or a D. As an example; the Buyer was a “walk-in” while you were on floor time. I think you would use an “L” for Luck. What if that Buyer called your office, asked for you by name because they saw it on a Yard Sign? I would unshakably agree with your classification of “D” for Design.
Another comparison example: One agent’s business development actions are limited to one or two mass mailings per year. The mailing gets to a Home Owner who, at that moment, is thinking of selling. He/she call that agent, a listing appointment is made resulting in a listing taken and eventually a sale is achieved. Another agent maintains a neighborhood real estate Blog site and/or does a bi-monthly “market update” mailing or email. One of those regular recipients or readers is thinking of selling and they contact that agent. It leads to a listing appointment, listing taken and eventually a sale. Who gets the “L” and who gets the “D”.
I think we’ll agree that there are not too many people who would reject a bit of luck in their personal and business life journey but, what is our opinion of a business whose survival and growth is mostly dependant on a lot of luck? When you get to the results of your “Current Reality” analysis you’ll have a variety of statements which will apply, ranging from “Man, am I lucky! I’ll keep my fingers crossed so that it stays that way” to “I want more “D”s to show up as the reason for my growing success”.
