Note: Through November and December, I’m going to help you with your 2020 business plans. You’ll find free documents from my business planning system for owners and an invitation to a complimentary webinar. Why not subscribe and be sure not to miss a thing?
Let’s get real. Your aren’t motivated to build that business plan. We know we’re supposed to write business plans. Yet, if you are like 95% of real estate professionals, doing that seems just like an exercise in futility. Most business plans don’t inspire.
Leaving Out the Magic?
There are components left out of most plans–components that put the inspiration and motivation into your plan and your agents’ plans. I’ll give you specific guidance for you to put that magic into business plans, so you are inspired every day to not only to complete the plan, but to use it as a very personalized and specific guide to your success.
Why Are Most Business Plans Useless?
Unfortunately, when most people write business plans, all they do is fill in some blanks with “guess” numbers. The problem here is that numbers in blanks aren’t inspiring. They aren’t motivating. They don’t call out and suggest to you that you should look at those numbers once in awhile!
What Really Motivates Us?
It’s what we do with the money.
And that’s as individual as we are. Martin Luther King didn’t say, “I have a business plan.” He said, “I have a dream.” You must include the dream part–the emotional driver–of your future in your business plans to make that plan useful to you. To do that, include the three ‘missing’ parts of business plans that I describe below.
Building the ‘Why’ Into Your Business Plan
That’s the motivator. In other words, we have to have a big why. Most business plans don’t build in the why. So, they fall flat, and leave us cold. That’s why agents don’t want to go through the exercise of creating them. Managers always commiserate that they can’t get their agents to write business plans. You wouldn’t want to write a plan, either, if you know it wouldn’t help you with your business the next year.
The Tools to Find the ‘Why’
Most people think of business plans as projections of numbers. But, that’s not all there is to a real strategic plan. There are three parts of a business plan that provide that inspiration, that motivation. Those are the parts of the planning process that are most frequently left out:
- our vision--why you’re in this business; how you see yourself after you retire
- Your review–what happened in your business that will make an impact on your business in the future
- Your mission–who are you in the business
In the next few blogs, I’ll show you how to create these parts of your business plan so you give yourself the inspiration and motivation you need to create and implement your plan.