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December 29, 2007

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Glenn in Naples

Tim,
Happy New Year to you and your's.

Actually, I start my business plan for the next calendar year after September 30th of each year.

The business plan is quite detailed from income and expenses to a calendar of events, complete marketing materials, promotional materials, new or enhancements to existing programs that will be used during the year.

Each month I compare my actual "accomplishments" to my business plan to insure that I am on track.

Quarterly, the business plan is assessed to determine if revisions are needed or not. It did get revised due to the sub-prime mortgage situation, which I don't think anyone foresaw.

It is quite complex, but it is my roadmap for success.

The business plan is based upon what a "business" would do - as a real estate broker (I do not have many agents under me, so I can be freer than most) I am a "business" and why not emulate what much larger and successful businesses use to guide them to their superbowl?

I have thought about writing about this subject of business planning for real estate agents, but trully wonder how many real estate agents would actually implement this type of business plan since it time consuming does take a lot of research, analysis, planning, and self evaluation.

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