Promoted by UltimateAgency.com.au
As an Agency Principal, spending a small amount of time to plan where you want to drive your Agency to this year can make a big difference.
Running an Agency is a consuming undertaking and coming into a new year the tendency is to get straight into the business of real estate.
The old adage about taking time to sharpen the axe before you start chopping the tree directly applies to business at this time of the year. A couple of hours spent business planning the direction and the actions you need to take as the business principal can transform a business over the next 12 months.
Plan for Reality. You have data on the performance of your team members last year and miracles don’t just transform people into super achievers because you wish they would be or you think they are capable of more.
Include the Rent Roll. Much of an Agency value is in this asset so create a plan for the growth of that part of your Agency.
Focus on Revenue. Cutting costs rarely makes a huge difference to overall profit unless it involves staff reduction, so when planning think about the ways your business can generate more revenue. Cover your areas in more detail, formulate ways to gain market share, hire more staff that create dollar contribution.
Systems deliver efficiency. A random approach to anything is rarely as productive as a systematic one. If you include in your plan ways to systemise your business operations and the way you take your services to market. Including a structured Agency marketing plan, and procedures reviews are good components to include in the plan.
Use the right planning tools. A plan can be as simple as a list of tasks but it is much more effective if you use a process that encompasses all aspects of your business. Each functional area requires consideration. It is easy to think about aspects such as generating more sales but sometimes improvements important to the growth of the business can be missed without a planning process. An example might be to improve the reporting processes on department activity or financial performance so you can better track the direction and growth of your Agency. A no-cost video tutorial showing the approach to use and all the tools is available at https://ultimateagency.com.au/plan-2019/
Include implementation and Review. Planning is useless without implementation. As a Principal you should set a regular meeting time with yourself to check that the plan actions are being put in place and the Agency is tracking correctly towards your forecast outcomes. If not, redesigning the plan and actions will take this time. One hour each week is only about 2% of your time, and it is can change the future.
To get some assistance or chat about formulating the plans and direction for your business this year you are welcome to call Wayne 0419 70 70 22 or visit the website that specialises in guiding Principals to transform a Real Estate business into their Ultimate Agency. www.UltimateAgency.com.au