You know what “shiny object syndrome” is. You may even have it. This is why I am going to talk to you about how to overcome that to start your successful business.
There are many opportunities in the real estate business to make a great living. However, that abundance can often paralyze agents. It leaves a person unable to know where to begin.
In the beginning, every agent’s business should have a plan. Before you get involved with lead generation and conversion activities, you need to sit down and formulate a life and business plan.
A life plan is necessary because you need to identify the life that you want to live. How much time do you want to spend with family? How much time do you want to spend with charitable causes? What kind of impact do you want to have on this world?
Once you have identified those life issues, then it is a simple matter to calculate what it will take to fund that type of life. You need to know what you have to have to pay all your bills and other needs as well as fund your additional aspirations. This is your financial requirement.
Then, you can start the business planning aspect. You should calculate your average commission rate, your average commission, and the number of transactions it will take to provide that financial requirement. Then you can look to the sources of business you want to work in as well as the strategies in each of those sources to extract the number of transactions.
But, it all starts with having a plan. Do not leave it all in your head, because you need a written plan to avoid any potential legal issues. Once you put your ideas on paper, you have a plan that is your first step toward success.
If you have any questions about where to start your business, please feel free to reach out to me. I would be more than happy to discuss this further.