Everyone needs some sort of road map, marketing plan, tracking sheet, system, etc. We all know what works for us and what doesn’t. This article, written in 2005, is worth reading. Take from it what you want and discard the rest. Please, put some sort of plan together for you to use.
Do You Know Where You Are Going… And How to Get There?
GOAL SETTING VS. BUSINESS PLANNING REAL ESTATE
Stefan J. M. Swanepoel and Allen Wright
SECTION 1 BUSINESS PLANNING: WHAT AND WHY?
1.0 What is it?
1.1 The Business Plan Itself
1.2 Goal Setting vs. Business Planning
1.3 Why Not to Plan
1.4 Why to Plan
1.5 The Benefits of Planning
SECTION 2 BUSINESS PLANNING: HOW TO?
2.1 Industry and Competitive Analysis
2.2 The Focus of the Business
2.3 Setting Objectives
2.4 The Action Plan
2.5 Concept to Calculations
SECTION 3 BUSINESS PLANNING: THE NUMBERS
3.1 Managing the Calculators
3.4 Understanding the Numbers
3.5 The Tools Available
In today’s competitive and complex marketplace, an entrepreneur’s success is far from guaranteed. Some businesses seem to succeed in spite of themselves, especially when customer demand for their products or services is great. In this situation, the mistakes made by many start-ups and growing businesses are simply forgiven by the marketplace. But don’t be misled by inspiring stories of successful start-ups covered in the media; about 70 percent close after two to five years in operation. It’s no mystery that one of the essential keys of launching, operating, and growing a successful company is sound business planning.
This whitepaper has as a goal to help you better understand the business planning process, the steps, the benefits and the execution. Like chess, business planning has various pre-determined steps. It requires thought, the evaluation of options, identification of hurdles, organization of priorities, the creation of strategies and the decisiveness of execution.
Playing chess without a plan is foolish. Working in real estate sales without a plan is also foolish. Planning helps with the coordination of actions, activities and next steps. Planning saves money, time, effort and causes the best result. The outcome of a well thought out, well-conceptualized real estate business plan can create long-term progressive positive advancement regardless of the business climate or real estate market.
Remember as you go through the steps of business planning for the first time or the tenth time, it is important to see yourself not only as the Architect of your own business, but as a Pioneer, seeking the right path to some new and distant frontier.
Here’s to the success of your well planned career.
Stefan and Allen