Make 2011 your BEST year ever!

Happy New Year!  At least it could be!

When looking forward to 2011 there seems to be a lot of confusion about whether or not the market will rebound. Many agents are now trying to decide if they should stay in the business or get out and do something else.  My experience is that success or failure in any market depends greatly upon your individual attitude and your planning.  My father always said that “attitude is more important that aptitude” and I believe that in my soul.

If you are still wondering if 2011 will be a good year for you, it might be because you have not taken the time to put a plan in place to succeed.  Success is not accidental or mysterious; it is the result of putting a plan together then executing that plan with perfection.   Here are a few steps that will help you start this year on the right track and will assist you in building your plan (and along with it, a confident, upbeat attitude.)

Step 1.   Create your business plan. 
Respected author and business consultant Steven Covey states that “Most business failures begin in the first phase of creation, the lack of a business plan or undercapitalization.”

At an early age I learned that if you don’t take time to really think through what it is you are trying to accomplish, you usually end up with less than you expected.  Set aside some time to turn off your cell phone, let your e-mail wait a while, and map out your year.

 

Step 2.   S.W.O.T.
One of the most effective ways to start your business plan is to perform a S.W.O.T analysis on your business.  Simply start by dividing a sheet of paper into 4 equal squares and label each square with one letter -- S. then W. and so on. 

• Now begin with the S and identify the things you consider strengths both personally and in your business. The key here is to make sure that your plan focuses on areas you know you excel in.  Strengths could include things like good negotiator, strong work ethic, large database, relationships in REO, have been through a bad market and know what to do, etc.   
• Next, W.  In this section, identify your weaknesses.  This is not designed as an opportunity to beat yourself up, but instead to help you become aware of areas where you are not strong and need to improve (or outsource.)  Weaknesses could include: call reluctance, no capital, lack of a plan, knowledge of the market, don’t know how to or like to prospect, no Internet strategy etc.
• O is for opportunities.  In this section, list all of the opportunities you can identify in your current market.  I love this because there is always opportunity out there for those who want to go after it and work.  Opportunities could include: Expired Listings, FSBO’s, REO or bank owned properties, pre-foreclosures, builders with excess inventory, under-served markets such as minorities and immigration or the global relocation of the baby boomers.  Each of the opportunities that you identify should be real and related to your personal market.
• Last but not least is the T.  T is for threats.  List all of the things that you cannot control that could have an effect on your business.  These items will not require any action items on your part but will help you plan for success in spite of them.  Threats could include: The subprime mortgage situation, the war in Iraq, rising interest rates, discount agents and brokerages, and online predators.

Now that you have finished your S.W.O.T. analysis of your business it is easy to go the next step. 

Step 3.   Create a plan that capitalizes on your strengths
This plan should include ways to go after opportunities in your market, and simultaneously works on developing your weaknesses into strengths.  Break each of these items down into daily bite size tasks.  Then begin checking the action items off one at a time. 

You will find that this simple exercise is the basis for an excellent business plan that will allow you to achieve any goals you put your mind to. 

I believe that you accomplish great things in your life and in your business if you have the right attitude and a real plan.  So go for it.  Don’t let the naysayers get you down and don’t become one of the water-cooler analysts that constantly complain about how bad things are.  If this is your chosen career then eliminate all of your excuses for failure and get to work! 

Remember when it comes to your plan these 3 easy steps just work:   

1. Write it down
2. Break it to daily bite size activities
3. Simply DO IT!

Sometimes just writing down what you want can kickstart your success, so take a moment and click on COMMENT to add your goal or objective for this year -- yes, in a public place for all to see.  I want you to really commit to doing something different than you've been doing so you can start getting those different (better) results you've been yearning for...it doesn't have to be strictly business either.  Come on, simply DO IT!

Make it a GREAT year!

Contributed by Verl Workman, speaker, trainer and coach with Pinnacle Quest Consulting.

Comments

[Jamie Shellman]

We always try make each year better, especially when it comes to our business. Effectively planning and executing your business strategies are some of the most important steps in managing your business. And to make our business grow, it is important to seek help from a business consultant who will help us efficiently manage our company.

[denmark opportunities]

The most important thing to remember, is that a business can only thrive if the owner is able to look at the positives and negatives within the business. Before you jump in always go through the whys and wherefores on paper.

[www.daenemark-ferien.de]

Some really good advice here. I too have written down exactly what I am wanting to achieve from a project before starting it, it really helps you to get to grips with what you need to do in order to achieve success!

[JOse JImenez]

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