Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Business planning shouldn’t take a back seat

By Grace Ormsby
04 June 2021 | 1 minute read
Business planning

Principals across a New South Wales network have been reminded that despite the current booming market, business planning must be just as important a consideration as listing and leasing.

Laing+Simmons has recently run a workshop for its principals based off the methodology of business growth expert Verne Harnish, which it said “jolted” many principals to stand back and consider their vision and values with a view to formalising their long-term growth goals.

Network CEO Leanne Pilkington said the interactive workshop, which was held at Taronga Zoo’s new wildlife retreat, saw principals opening up their businesses to “collaborative scrutiny” and aimed to share strategies that improved their ability to scale up.

Advertisement
Advertisement

“The objective for each was to formalise their growth goals, business vision and core values, and then establish long-term plans to achieve these,” she explained.

“In some cases, business plans were tinkered with and, in others, they were overhauled. There were plenty of watershed moments, hard truths were revealed, and epiphanies were realised.

“But overwhelmingly, what we realised was that planning for tomorrow was being superseded in priority by the immediate needs of today.”

What did become clear as a result was “irrespective of the frenetic nature of a hot market, businesses must establish an appropriate path that will deliver their own individual definition of long-term success”.

According to the CEO, individual businesses will be able to achieve such success through “better engagement between the team, setting a long-term vision [and] understanding and articulating the values and culture”.

Ultimately, it’s all about making time to plan and benchmark progress, Ms Pilkington advised.

Reflecting on their own event, the CEO expressed the belief that “the willingness to share ideas, strategies and even mistakes among the principals will support the growth of each individual business as well as the collective group”.

“This is the collaboration we wanted to foster when we assumed the ownership of Laing+Simmons,” she said.

Business planning shouldn’t take a back seat
Laing Simmons workshop business planning reb
lawyersweekly logo

ABOUT THE AUTHOR


Grace Ormsby

Grace Ormsby

Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.

Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.