BU S I N E S S PL A N N I N G
Presented by the Education Team at Independence Title. TREC Approved Continuing Education Provider License# 403.
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AGENDA
• Why – Planning with a Purpose • Time Management • Creating a Business Plan That Works! • Finding Growth Opportunities
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WHY? Planning with a Purpose
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Why Create a Business Plan?
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A business plan should answer critical strategic and operational questions such as: Who is your target demographic? How much do you want to earn? What budget should you set aside for marketing? How many sales will you have to make to cover expenses? What are the biggest opportunities in your market?
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The plan should be flexible enough to allow your business to pivot with internal and external forces.
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WHY – PLANNING WITH A PURPOSE
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What makes you come alive?
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WHY – PLANNING WITH A PURPOSE What are you passionate about? When do you feel most energized? Why does it matter?
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How will you measure your life?
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WHY – PLANNING WITH A PURPOSE
The 5 Circles of Life Spiritual
Family
Personal
Work
Finance
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TIME MANAGEMENT
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TIME MANAGEMENT
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TIME MANAGEMENT
Model Taken From
The Millionaire Real Estate Agent
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Goal-to-Action Calendar
80 %
Daily To-Do list
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TIME MANAGEMENT
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TIME MANAGEMENT
Leverage When you are ready to leverage, there are three important questions you should ask yourself…
1. Who is going to do the task at hand? 2. How are they going to do it? 3. What will they do with it?
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TIME MANAGEMENT
Lead Generation • Open House • Focused Farming • Social Media • Events
Customer RetenHon • Referral Based • Email Campaign • NewsleMer • Client ParHes
System & Processes • Create a Team • CRM • TesHmonials • Checklists
Skill Set • PresentaHons • Contract NegoHaHons • Videos • Neighborhood Expert
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TIME MANAGEMENT 2022
Traditional Time Blocking works for some, but not everyone.
Find what works for YOU!
Lead GenProfessional Referrals Personal Health Business Plan Financial Family Spiritual
Vacation Meditation 8:00 AM 9:00 AM 10:00 AM 11:00 AM 12:00 AM 1:00 PM
Jan 3-9 Sun 3
Mon 4
Tues 5
Wed 6
Thur 7
Fri 8 PB-5
Walk-5m
Walk-5m
Calls-5 Walk-5m
Notes-5
Walk-5m
Sat 9
Fill out Call Travel Agent 10 min
Med Walk Med Med Folllow Up Follow Up Ad Min Follow Up Ad Min Follow Up Calls&Notes Ad Min Ad Min APT-Show APT-Lunch APT-Lunch Calls&Notes APT Calls&Pop 2:00 PM Open House Calls&Notes Pop Bys Bys APT-show 3:00 PM 4:00 PM APT-Show Follow Up Follow Up Follow Up 5:00 PM Ad Min Ad Min Admin Follow Up Date Night 6:00 PM Family APT-Show Family APT-Show Family 7:00 PM 8:00 PM Walk Walk Walk
Follow Up APT-Coffee
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TIME MANAGEMENT
COMMIT TO
DAILY
&
MONTHLY
NON-NEGOTIABLE ACTIVITIES
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TIME MANAGEMENT CREATE A LIST OF YOUR DAILY NON-NEGOTIABLE ACTIVITES What are you going to commit to EVERY single day. NO EXCUSES. No matter what might come up. Commit to these activities first and be rewarded with more time for you and your family. 28
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TIME MANAGEMENT EXAMPLES OF DAILY ACTION ITEMS •
Make a minimum of 20 contacts (M-F)
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Post on Social Media
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Read (or listen to) a growth book for 20 minutes
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Workout or walk for 30 minutes
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Gratitude Journal / Affirmations
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Write 5 handwritten notes
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Research market updates
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Learn 1 new thing that will make you a better REALTOR®
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Work on any monthly action plan items that need to be addressed (ie. Birthdays, open house, etc.)
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Set your desk/office up for the next day (be able to walk in and get straight to work)
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TIME MANAGEMENT CREATE A LIST OF YOUR MONTHLY NON-NEGOTIABLE ACTIVITES What are you going to commit to EVERY single month. NO EXCUSES. No matter what might come up. These are NOT goals; these are COMMITMENTS to your business. Push yourself but make them ATTAINABLE.
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TIME MANAGEMENT EXAMPLES OF MONTHLY ACTION ITEMS • Add 100 new contacts to my database (averages 5 per day - 5 Days a week) • Mail birthday cards to members of my sphere who have a birthday that month on the 1st Monday of every month. • Host 3 open houses • Distribute my Monthly Newsletter to my farming areas • Go LIVE on social media twice a week • Host an event – several low-cost options that give you a reason to reach out to your SOI.
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CREATING A BUSINESS PLAN THAT WORKS!
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CREATING A BUSINESS PLAN THAT WORKS! To create a business plan that truly works, there are a few core items that need to be addressed. Define your marketing strategy Set goals you want to achieve Create a financial plan Evaluate Regularly! – Monthly check-in
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CREATING A BUSINESS PLAN THAT WORKS!
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CREATING A BUSINESS PLAN THAT WORKS!
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CREATING A BUSINESS PLAN THAT WORKS!
What’s Your Marketing Strategy
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CREATING A BUSINESS PLAN THAT WORKS! Select activities that best fit your targeted demographic AND your strengths AND where you want to grow! • Host an Event • Run a Contest • Just Listed/Pending/Sold Marketing • Face to Face with Sphere • Handwritten Notes • Sphere Calls • Sphere Pop-bys • Business Pop-bys • Social Media Posts/Videos/Ads/Blogs • Social Medial Personal Messages • Open House
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Monthly Newsletters Farming Post Cards Farming Door Knocking Farming Pop-bys Unsolicited CMAs to Farm Area & Sphere Welcome New Neighbors Social Events Market to Expired Listings Market to FSBOs Website Leads Cold Calls And Many More!
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Marke<ng CREATE A STRATEGY TO NURTURE LEADS • Use a CRM • Follow Up Regularly • Put them on a Drip Campaign (Email, Direct Mail, Newsletters, Handwritten Cards, Call and Check-in) • Invite them to Events • Connect on Social Media 42
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CREATING A BUSINESS PLAN THAT WORKS!
Outline Your Personal Expenses
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CREATING A BUSINESS PLAN THAT WORKS!
Outline Your Business Expenses
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CREATING A BUSINESS PLAN THAT WORKS!
IndependenceTitle.com Tools and Resources
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TRACK YOUR SUCCESS!
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Success Tracker Color code for the different quarters
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Success Tracker
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Success Tracker
Pop By Deliveries
Calls Note Cards
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FINDING GROWTH OPPORTUNITIES
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KEEP CURRENT • Know what’s going on in the market • Read up on industry news • Attend “State of the MARKet” Updates • Get feedback from your clients • Keep up with technology • Attend classes at Independence Title
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EVALUATE YOUR BUSINESS EVERY MONTH ASK YOURSELF…
• What’s working? • What’s not working? • Am I on track to complete my annual goals? • What do I need to improve on? • In what areas do I need help?
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FIND YOURSELF STRUGGLING? Get an Accountability Partner Hire a Coach - $ Join a Mastermind - $ Attend Seminars & Conferences - $ Practice Self Care - ❤
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FIND YOURSELF STRUGGLING?
Let’s Start the Work
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What are your innate strengths?
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Where do you add the greatest value?
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10/12/21
Strength/Weakness • • • • • • • • • • • •
Organizational skills Motivation Confidence Adaptability Reacting to objections/Emotional Maturity Presentation skills Negotiation skills Getting Referrals Schedule management – (time management) Prospecting Technology – CRM, Cloud files, MLS systems Leadership skills
Product/House knowledge Conflict management Networking skills Emotional intelligence Client engagement Client nurturing Growth mindset Cold calling Social media/selling Market Knowledge Community Connections/Involvement Positive Reputation to public/Online Reviews • Reputation in Industry • • • • • • • • • • • •
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Opportunities/Threats • • • • • • • • • • • •
Economic Downturn Rising Interest Rates Demographic Shifts Market Shift Inventory down/Up Technology Innovation Area Growth/Corp Relocations Investment Opportunities Lenient Loan Programs Transportation – High Speed Rail More REALTORS® What else?
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Marketing Activities • Host an Event • Run a Contest • Just Listed/Pending/Sold Marketing • Face to Face with Sphere • Handwritten Notes • Sphere Calls • Sphere Pop-bys • Business Pop-bys • Social Media Posts/Videos/Ads/Blogs • Social Medial Personal Messages • Open House
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Monthly Newsletters Farming Post Cards Farming Door Knocking Farming Pop-bys Unsolicited CMAs to Farm Area & Sphere Welcome New Neighbors Social Events Market to Expired Listings Market to FSBOs Website Leads Cold Calls And Many More!
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GPS 1. Determine your Goal 2. Develop your Plan for goal achievement 3. Outline your Strategies for success
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Educa<on & Resources from Independence Title Visit: www.independencetitle.com for a list of classes, brochures, and industry related videos.
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Valuable Content from Independence Title
SHARE YOUR INDUSTRY KNOWLEDGE 67
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Market Statistics from Independence Title
SHARE YOUR INDUSTRY KNOWLEDGE 68
BOOK RECOMMENDATIONS BY OUR EDUCATION TEAM!
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