Episode 309: Plan Like a Pro: Streamline Your Success with Effective Business Tools

Dive into episode 309 of our podcast, where we zero in on the cornerstone of real estate success: the business planning process. This episode is a treasure trove for real estate professionals seeking to streamline their journey toward achieving their goals.

 

We'll walk you through an exclusive preview of our FREE Real Estate Fundamentals Mini-Course, focusing on the art of effective business planning. Discover the carefully crafted tools and resources WBNL Coaching offers to simplify and enhance your planning process. From the Goal Writing Package to our comprehensive Business and Personal Budget templates, we've got everything you need to set your course for success.

 

Whether you're refining your goals, outlining your daily work plan, or crafting the perfect week, this episode is your gateway to a more organized, efficient, and successful real estate career. Tune in to transform your business planning from daunting to done with ease. 

Real Estate Agent Fundamentals & Business Planning

At WBNL Coaching, we believe that taking time to reflect and plan is a key step toward a solid foundation in a real estate career.  Our Real Estate Sales Builder program is a complete 119-lesson course designed to guide you through all of the steps and systems you need to have in place to thrive.  In Module 1 of that course, we walk through the fundamentals of being a successful real estate professional and how to customize a business plan and set goals for your year. We also spend time on the necessary mindset, skills, character traits, and daily disciplines for success. Because we know that establishing your roadmap for a strong foundation is critical, we have carved it out of the course and are offering it to you as a preview of how we coach and train.  Along with the videos in this mini-course, we have included all supporting documents to help you focus on the tasks ahead.  

Click HERE to Get Started

What you'll get:

Video Lessons in this Course:

• Real Estate Agent Job Description & Skills
• Character Traits for Real Estate Success
• Avoid These Common Agent Mistakes
• The Four Core Principles for Your Business
• Writing SMART Goals
• Determine Your Income & Closing Goals
• Your Business Action Plan
• Tutorial: How to Customize the Business Plan Template
• Your Morning Well-Being Practice
• Design & Follow Your Perfect Week
• Lead Generation for 1-2 Hours Daily
• Be an Industry & Market Expert
• Master the Key Sales Skills
• Let's Get To Work!

• Downloads:

  • Module 1 Workbook
  • Goal Setting Workbook
  • WBNL Business Plan
  • WBNL Income & Expenses
  • WBNL Personal Budget
  • WBNL Business Budget
  • Success Action Plan
  • Weekly Performance Scorecard
  • My Perfect Week
  • Meditation Apps & Resources
  • Affirmations for a Successful Career
  • Let's Get to Work Checklist

Determining Your Income & Closing Goals

Your Business Expenses 

In the overview & downloads section, you will find a Business Budget Excel sheet with all of the standard categories for a real estate agent. Use this to estimate if you are a new licensee or to get your actual expenses for the previous year. That total will go into the Business Expenses field of the plan.

Please do the same thing with our Personal/Home Budget spreadsheet. If real estate is 100% of your income, you will put your annual living expenses in the plan. Adjust this number according to your situation. If you have other income or someone else contributing to your living expenses, use the applicable annual dollar amount you want your real estate revenue to cover.

Now, decide how much profit you want to make! After all, you are not working just to pay your expenses and taxes!

We have also added a field for savings, retirement plan funding, or even just vacations and fun.

The final field is your estimated tax payments. The plan will subtotal the first four, so you can use an applicable percentage like 25%- 30%. Of course, you will have deductions and maybe other tax savings strategies, so you won't know your exact taxable income, but just estimate for now.

In the following three tabs of the Business Plan, you will be able to:

 Calculate your Closing Goals for Sales & Listings

This sheet will auto-calculate the total number of listings and sales you need to close to reach your annual income goal based on your specific variables, such as the average sales price and commission percentage.

 Determine Presentations Needed

Use this worksheet to determine the total number of buyer and seller prospects & presentations you will need to meet your annual real estate closing goals. Enter the total number of weeks you plan to work. The spreadsheet uses a primary three-to-one presentation ratio - which you can change. The ratio implies you will need three prospective buyer or seller presentations to obtain one listing or sale.

Calculate Contacts Needed

This sheet auto-calculates the estimated number of appointments, contacts, and presentations necessary to reach your goals. Complete the shaded cells of each source of business that you want to focus on with the correct percentage for you.