Goal Setting Vs Business Planning

A goal is a desire without a road map on how to fulfill that desire. Let's say you have a goal to lose 40 pounds. If all you do is set that goal, you are in essence "Wishing". If you write down that goal and tape it to your bathroom mirror you are still "Wishing", although you should be commended for at least putting it in writing. A plan for losing the weight however, would involve looking at your diet and calculating how much less you need to eat to lose the weight.

A more in-depth plan would also include items such as the amount of time in which you want to lose the weight, a change in diet, a daily list of allowed foods, an exercise routine designed to meet your desired results and finally a way to track your progress and make appropriate changes.

Now you have something worthy of putting on your bathroom mirror, a plan to achieve your goal.

Why Not to Plan

Anyone can figure out why not to do something. It's too cold, I'm too busy, I'm tired, or it will just take too long to complete. All of us want spectacular results; the problem is that getting spectacular results requires effort. We see other people doing what we wish we could do and then we fall back into either criticizing them for their success or being envious of how lucky they are. If we listen carefully to their stories, we will see that they are probably no better off than we were. All they did was follow the step-by-step process that helped them arrive at the destination they desired.

Most real estate agents are not just a "Salesperson", but in actuality a "Business". As a small business owner you must have a clear understanding of the revenue generating and expense aspects of your business. All small business owners have three topics to consider when building the business:

  • Source of revenue
  • Cost to generate revenue
  • Overhead expenses

Specifically, as a real estate agent you should understand how much revenue you need to generate to cover your expenses and meet your personal income goals. In addition, as you mature in your career your sources of business will change. As these changes take place your marketing strategies need to also change.

Reasons to avoid planning often include:

  • Planning does not apply to me or my market
  • I do not need planning, I'm different
  • Planning is too difficult
  • My manager / broker does not require planning
  • Planning is too time consuming
  • I am not good with numbers / calculations
  • I do not have the time

These are all excuses – and really not valid at all. With the advent of the personal computer and the Internet, business planning has really become very simple. Automatic Wizards can walk you through the process, programs can do all the calculations, and the Internet can provide you weekly reminders.

Like anything worthwhile, however, there is a level of commitment that is required. But then again, does not everything worthwhile require a commitment? Especially if you have selected real estate as your career, then your career is worthwhile. Your career therefore requires a plan. You can work with William Shue Coaching to develop a comprehensive business plan.