Take your annual goal and determine how many deals for the year that will require. Simply divide the annual goal by a conservative estimate of your average income per deal. Example: annual goal is $150,000. Divided by average profit per deal of $7,500. Total deals are 20.
5. Determine how many deals you need per month.
6. Determine how many deals you need each week.
7. Decide what 2 or 3 activities are most likely to get you that small number of deals per week. Base this on where your past business has come from. Actually list where your deals have come from for the past one or two years so you are completely accurate about sources. The most common activities are: follow-up on current and past leads, Internet leads, ad and sign calls, open houses, calling or networking with your past clients and spheres of influence, personal marketing, hyperlocal marketing (farming), direct marketing, etc.
8. Take action immediately in 2014 to begin your plan.
Print the simple seven-step business plan above. Right now, put an hour on your calendar to back through it and actually take each step. Then do this step (B.) and put the last step (C.) into your calendar for January. You will increase your chances of success next year by tenfold. In fact, it will guarantee your success in 2015.
Using the 2 or 3 activities you chose in number 7 above make a list of what actions will you take on January 3rd through 7, 2015 (Monday through Friday) to put your simple plan into motion.
These actions may include making calls, reconnecting with all or last year’s leads, web site work, e-mail blasts, preparing and sending your sphere of Influence mailing, previewing homes in your farm, preparing and sending your farm mailing, communicating with your pending clients and listed sellers.
Begin to Embed the Actions as Habits
Embedding a habit turns single or random actions into consistent and dependable systems. A habit is an action that you take at the same time, on the same day, in the same place, and in the same way every day or every week. As you perform the action consistently day after day or week after week you become better at it. You learn how to continually improve it.
Following is the most effective way to turn your plans into results by creating the habits for those activities that ensure consistent results all year.
Choose one type of activity for each day of the week. And first thing in the morning before you open your e-mail (same time), on the same day of week, in the same place, schedule just a half hour to do each of the following. (You can expand the time later. A half hour helps establish the habit.)
Monday: Call Leads
Tuesday: Advance Your Technology
Wednesday: Traditional Sphere of Influence and Hyperlocal Marketing
Thursday: Communications with past clients
Also Thursday: Rehearse and Improve Presentations
Friday: Strategize by looking at results for the past week and plans for the following week
Important: As you begin each day review and remind yourself of your motivation and reasons for succeeding with your note business in 2015.
There are many other activities in a note investor or note broker’s business that are hard or impossible to turn into daily habits; for example, due diligence on a note, requesting BPOs, communicating with borrowers… You will always find time for these because they demand your time.
Reaching your goals in 2015 depends on your commitment to make those “daily habits” a part of your business. Your success or your disappointment in 2014 depend on it.
It’s that simple; not easy, but simple. The key to a strong start to 2014 and guaranteeing your success throughout 2015 is dependent on the simple planning and habits you establish as this year ends and the New Year begins.
You control it every day with your decisions.