As we settle into 2023, it’s vital that you act quickly and start thinking about the year, and look to find ways that you and your business can continue to improve.
Here are four things you should be doing to better prepare for the new year and set yourself up for success.
Review the past year
You’re not going to be able to improve unless you take the time to understand your past efforts. At the turn of the new year, one of the most important tasks you can do as a real estate agent or business owner is to review your year and analyse the areas that went well, but also the areas that need improvement.
A great start is to begin looking at where most of your leads are coming from, and then look to find ways to do more of those activities. You can also review how your team has performed, how efficiently your time has been spent, and also if your technology tools have been making your life and business better.
If you don’t have good data on things like your source of leads or where your time is going, you know that your first job this year is to start tracking these metrics so you can have a baseline to work with and improve upon.
You’re going to find it very difficult to continue to grow and succeed in business if you’re not setting goals. Goals give your business focus and direction and are crucial in measuring your success.
Start the year by sitting down with your team to discuss and start setting goals. Keep in mind that while it’s great to have big goals around profits and money, it’s more important to set progress goals that will guide you to your larger scale growth goals.
You want to target things that are in your control so that you know if you achieve them, you will be well on your way to hitting your financial goals as well.
A great example would be how many prospecting phone calls you and your team make every week. You might know that if you make 100 calls per week, you will get 10 leads, which culminate in one listing. Use your analytical data to work backwards and try and hit your financial targets with process-driven goals.
Establish a routine
Most successful people are very stringent with their daily routines. They often do the exact same things every day at the same time which this allows them to be laser-focused in what they are doing.
If you haven’t established a routine for your week, then it’s likely that you’re losing a lot of time simply by lack of structure. Start now by planning out your calendar in advance and don’t forget to book in breaks and things like family time.
You can work backwards from your list of process goals to outline how many hours each week you need for various tasks that will allow you to maximise your time and grow your revenues.
If you’re going to grow and reach the elite levels of real estate, you’re not going to be able to do it alone. The earlier you can build a team and incorporate technology into your business the faster you're going to be able to grow.
The first place to start is usually by adding well-integrated technology tools like a quality CRM that allows you to reach more people and maximise your time.
After that, it’s time to start thinking about adding team members. You can start with a virtual assistant and then look to expand with people who can help with the backend and admin worth, before trying to add more sales associates.
Your goal when building processes is to try to remove yourself from as much of the day-to-day work as you can. So you can put all your time and attention into the activities that generate the most revenue for your business.