Spending 5 Minutes with Your 2016 Business Plan

"In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia." - Author Unknown

As real estate professionals, goal setting is a popular topic. It has likely come up in your office meetings, with your real estate vendors and amongst your colleagues. Yet even though we know the importance of goal setting and the impact a strong business plan can have on fueling success, for many, it has become one of those dreaded yearly activities that gets pushed to the back burner.

All clichés aside, goals give you focus, allow you to measure progress, keep you motivated and help you stay accountable for your business decisions. While there's no perfect recipe for success, outlining your business goals and how you plan to achieve them is the perfect way to analyze what worked in 2015 and what you're ready to achieve in 2016.

Here are a few considerations that will help you better determine your priorities this New Year.

#1: Could you be more organized?

If you find yourself spending valuable time searching for client information in your email or rummaging through notebooks to find notes about your most recent client meetings, it might be time to consider a centralized database of names, addresses, phone numbers and other information on your clients that is accessible via your computer, tablet or mobile phone.

A robust CRM system like Top Producer® that's specifically tailored for the real estate professional can solve your organizational issues, can keep your leads nurtured and engaged, and can even remind you of who needs follow-up and when.

#2: Are you speaking to enough people?

One of the most important parts of a real estate business plan is determining how many touches you need to make each month in order to reach your lead conversion goals. For example: If you close approximately 2% of the people you talk to and you want to generate four new clients each month, you'd need to make approximately 200 touches each month, or roughly 50 per week.

What is your plan to find this many contacts each week? Maybe you need to consider purchasing leads from a platform like realtor.com® Connection for Co-Brokerage, where you also gain valuable lead intelligence about the property they're interested in and more.

#3: Can you be found online?

Today's consumers are online. What will they learn about you during their search? As you review your business plan for this year, consider your online presence. Have you completed your free profile on realtor.com®? Many consumers find their transacting agent on realtor.com®. Completing your profile is the first step in making sure you can be found in the consumer's line of search.

Once your online presence is up-to-par, perhaps you consider a realtor.com® Digital Ad Package or other supplemental programs that allow your personal brand to be seen directly in the client's search stream.

#4: How's your follow-up?

If you've dedicated valuable time and resources towards lead generation, but are failing to follow-up in a timely and efficient manner, you're missing opportunities. Perhaps 2016 is the perfect time to review the timeliness of your follow-up and your system for lead nurture. Systems like Top Producer® and FiveStreet are designed to optimize agent response and fuel lead conversion.

Setting Yourself Up for Success

A business plan doesn't have to be a heavy burden. Rather, it can act as a valuable roadmap that helps you clarify your objectives and how you plan on achieving them. If you're looking for a strong foundation to build your own business plan for this year, spend five minutes with this free business plan builder from realtor.com®. It will also help you evaluate your current tools and systems to determine the solutions you need to execute your plan.