How To Change Your Business for the Better

Five questions to ask yourself when creating your business plan.

I’ve got some great information for agents that I am excited to share today. Have you ever thought about business planning? For many people, it’s not a fun topic to consider. However, I believe it’s essential. Just like you wouldn’t go on a road trip with no map or sense of direction, you shouldn’t continue your business without an idea of where you want to go. 

Having a plan for how to get from where you are to where you want to be is

extremely formative, so I have created a list of five questions to ask yourself

in order to make that plan:

1. How much money do you want to make? In the next year, how much money do you need to make to cover your bills and live the life you want to live? It’s important to quantify these things.

2. How are you going to get real estate business? Are you going to focus on buyers, sellers, or have a blend of both? Have a specific goal to target.

“Having a plan will completely change your business for the better."

3. What is your cost of sales? For example, know specifically what it costs for the overhead of your real estate company.

4. What are your expenses? You can’t know everything that will happen, but there is a lot you can predict. What do you plan to spend on marketing? Do you want to hire an assistant? Be prepared for how much money that will cost, and know if it’s in line with what it should be.

5. What is your plan for taxes? Many people forget about this expense, but you should be setting money aside to prepare.

All this to say, are you an agent living off of cash flow, or are you running a business that has a profit? To be the latter, you have to create a plan, and you can do that with those five questions. I admit that I used to be the former, but becoming the latter has completely changed my business for the better. 

If you have any questions about this, or if you need help creating your business plan, I would be honored to help you! Email me anytime; I look forward to talking with you.