Through December, I’m focusing on business planning in my blogs. Look for checklists, processes, and systems–ready to use.
Business Planning: Is Time Management One of your Agents’ Biggest Challenges?
If youa��re like most of us, (and your agents), you have much more on your a�?to doa�� list than you get to during your business day. What does that have to do with business planning? At this time of year, we need to analyze how we spent our time. Then, we can make adjustments for next year. All of us have the same amount of time, yet, some people seem to know how to optimize it.
We Dona��t Manage Time
The notion that we manage time is actually a mis-nomer. We manage activities. Have you ever known an agent who comes into the office every day, seems to work hard, yet makes little money? That person would tell you he manages his time. Yet, his time is spent doing the wrong activities. (Or, maybe, he intends to spend his time in non-productive activitiesa��a��.).
As managers, you can be very influential in helping agents better manage those activities through their business plan.
A Major Principle for Great Time/Activity Management
In Up and Running in 30 Days, (use this program if you’re under a year in the business for business planning) I introduced the principle of categorizing activities so that you can tell whether you are spending your time in activities that will make you moneya��or not. All real estate activities can be categorized as either
Business producing or
Business supporting
Which are which: Those activities that have you meeting people directly (lead generation), working with people, and selling houses are business producing. All the rest are business supporting. Do your agents know the difference? Use the following analysis tool to help your agents see how they are spending their time. It will literally tell them (and you) why they are making the money they are making!
Click here to get my time/activity analysis, excerpted from my online business planning resources for agents and managers, Beyond the Basics of Business Planning.
Let me know what you found out from your time/activity analysis, and the changes youa��re making for next yeara��s business plan.
Grab the Business Planning System Internationally Published Exclusively for Real Estate Pros
If you’re tired of filling in the blanks with numbers that mean little to you, it’s time to step up to a real strategic planning system–a system made exclusively for real estate pros. Check it out at Beyond the Basics of Business Planning.
